How to get rich?

Immaturity

Really I am an 18 year old lad with a reasonably good brain and have loads of ambition what is bar winning the lottery actually the best way about getting rich would you say?
An educated guess or reasoning would be very much appreciated.
I doubt getting any job will ever result in the dream?

Immaturity

Guessing the first step is be frugal.

lincroft1710

Investing lots and lots of money into my new scheme "18 YEAR OLDS, THIS IS YOUR GOLDEN OPPORTUNITY"

Well, it could make me rich.

As you claim to have a reasonably good brain, start putting it to good use and read up about how rich people actually made their money. Be warned that there are very, very few genuine get rich quick scenarios especially those that are legit.

Sparhawke

I buy and sell domain names, there was someone a few months back who grabbed wildlife(dot).net for $1500 and I didn't see that one unfortunately to my chagrin

It is a category killer domain, one that encapsulates everything within the scope of the keyword, like Technology but the thing with these is that you are unlikely to pick them up with pennies.

A week later he sold it for $6000 after I gave him an appraisal of $5-7k

The trick with anything is to do your research and learn everything you can. It is hard to do if you are new but with experience you can pick up the odd gem here and there and sell it to an end user for a few hundred pounds and use that money to reinvest.

Start first with expired domains that people give up on and practice...a domain will only cost you a few beers so it is a great investment if you are good.

If you are thinking about it then namepros.com is the best place to learn

Nosht

Work very very hard, pay as little tax as possible, don't spend money, save everything.

N.

davidjwest

Research the stock market, build up some savings and then when the next crash happens invest everything you can afford - I made a fair bit of money by doing this when we had the last crash but it all went to paying off debts so I am not rich!

Learn about net based technologies and look to come up with some good ideas for websites, there are a few people who are millionaires off the back of these ideas and there is still scope for more to come.

Don't get things on credit! Budget as much as you can and try to save up.

Money always goes to money, if you can start by saving a little bit now this can snowball and you will reap the rewards over time.

There's no such thing as a get rich scheme and never give money to anyone who says differently!

Immaturity

Is going to university a good idea then?

Immaturity

Nosht wrote: »

Work very very hard, pay as little tax as possible, don't spend money, save everything.

N.

What jobs are there which allow you to work as much as you want and they pay me accordingly?
Ideally shouldn't I be setting up my own business etc.

davidjwest

Immaturity wrote: »

Is going to university a good idea then?

It might be - on average university graduates earn more than those who don't graduate but it's not as simple as that.

What would you study at Uni? What career path do you want to follow?

Generally, those who have a normal job don't get rich, you've more chance of that if you start your own business.

Work for someone else and you could make them rich though.

Immaturity

davidjwest wrote: »

It might be - on average university graduates earn more than those who don't graduate but it's not as simple as that.

What would you study at Uni? What career path do you want to follow?

Generally, those who have a normal job don't get rich, you've more chance of that if you start your own business.

Work for someone else and you could make them rich though.

I will be studying Economics at York University hoping to become an Actuary.
I really have nothing to lose and I only live once and this I have made this the challenge to myself in life, so I definitely don't want to be working for someone else then !

davidjwest

Depending on what you define as rich, you won't get rich being an Actuary although you might be what I'd term as comfortably well off

It's good to have something to fall back on though if your plans for world domination don't come to fruition, so good luck!