How to get rich?

Immaturity

davidjwest wrote: »

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!

You only live once! I am really want this, worst comes to worst I end up bankrupt and even that isn't that bad these days.

kermitfrog

Immaturity, there is a school of thought that says that if you have to ask the question, you don't have what it takes to become rich.

dave4545454

Immaturity wrote: »

Is going to university a good idea then?

no that's the worst thing you can do, it just means more debt. degrees are worth nothing these days, everyone has one, they've been devalued.

davidjwest

dave4545454 wrote: »

no that's the worst thing you can do, it just means more debt. degrees are worth nothing these days, everyone has one, they've been devalued.

I disagree - to become an Actuary he will almost definitely need a degree and assuming he can get into that line of work paying a student loan off would only take a year or two, depending on how careful he was.

The key while at Uni is to budget carefully and work part-time to support yourself so the debts are kept to a minimum.

One of my family recently graduated with debts of £2,000 or so, only took her six months to pay them off once she got a job as a teacher, starting salary of ~£22k.

Hull isn't far from York and might be possible to commute to Uni there, would be very cost effective if you could live with the parents while studying.

geordie_joe

dave4545454 wrote: »

no that's the worst thing you can do, it just means more debt. degrees are worth nothing these days, everyone has one, they've been devalued.

I think it depends on what the degree is in and where it came from.

It's true that most people leave uni with some sort of media degree, because they all want to be famous, but it's different if you come out with something like a science degree from Oxford or Cambridge.

Sparhawke

dave4545454 wrote: »

no that's the worst thing you can do, it just means more debt. degrees are worth nothing these days, everyone has one, they've been devalued.

Depends on the degree.

I agree that many of them have been devalued such as media studies and the David Beckham course but the "great professional" medical, engineering and teaching degrees are still as valuable and in demand as they have always been.

With everything you have to figure out what is important and appraise how it will help you in life.

A degree is only as good as the demand for it.

For instance, if someone came to work at my museum as a curator and I had a choice between the media studies student and a nurse with fairly equal degrees then I would take the medic absolutely every time. If nothing else I get someone with first aid knowledge that could come in handy when playing with the bows and arrows after closing hours.

The media student in comparison would be next to useless and would only be interested in gaining an audience for him or herself.


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Getting back on track about what I was saying about domain names earlier, it often takes about 6+ months for people to have a reasonable knowledge and know what they are looking for. It is not enough to pick and choose a random domain name and hope that it will make you money and not every extension is made equal either. For instance, the .com is the monopoly equivalent of Mayfair and the .uk is Bond Street along with .de and .cm is as useless as Old Kent Road with the newest which is .co being the wildcard of chance.

However, if you combine keywords and the extensions to make a world wide recognised word then you could potentially be sitting on a fortune. Just think bike.rs where the keyword is bike and the extension is Serbian (not Russian)

That could potentially sell to every motorbike enthusiast and cyclist in the world, as well as every shop. And there are millions of people who could be interested in owning it. And that would push the value way beyond 99.9999% of all the other domains in the world to a specialised company like Yamaha or Suzuki.

With houses there are potentially only 3 different factors that make up the base value of a house, and that is location. With domains since every single one is unique the factors are almost infinite.

What I am saying is don't run out and spend all your money, simply learn everything you can in the first 6 months if you are thinking about giving it a try.

kaywantsapug

Your still very young. I would say get into college and university doing something that not only pays well but that you know you'll enjoy. Look at eventually owning your own business along with a few other little money making projects aside from your day job.

Constantly striving to become rich will only push you further from it. I think it mainly depends on opportuinties and being in the right place at the right time or knowing someone that will give you the break. All a case of luck I suppose. Or having the brains and guts to go ahead with a massive business venture that luckliy takes off.

For instance, my friend always dreamed of becoming famous from a young age and spent years and years thinking of ways to do this, going to auditions, writing music etc. She's now in her 50's and has possibly spent 35 years thinking her life away without getting anywhere.

And me! Left school at 16 with all these dreams and ambitions, didn't go to college just went from one job to the next and thought of ways of owning my own business.......I'm now 26 and have wasted 10 years doing nothing. Its only now that I have children that I've realised getting a good job is important so I got into accounting. I look at my friends from school who went to college and university as soon as they left. They now have great jobs as doctors, accountants etc with their big houses and nice lifestyles. I regret not getting any qualifications.

At least with a qualification and some work experience you'd have a good future ahead of you. Whereas if your going to keep thinking of ways to become rich and trying different things which don't work, eventually your going to hit an age where you'll think you've wasted your life and still be in the same boat.

Sorry if that seems morbid.

Dave101t

most people who are rich get a job and work hard.
or rob post offices.

Lesley_Gaye

many people become rich without going to uni, neither Alan Sugar nor Richard Branson for instance.

if you would like to read about the kind of mind set that could help, you might find Rich Dad, Poor Dad by Robert T. Kiyosaki helpful

it's not rocket science, but could get you thinking in the right way to set you on the right path

think carefully about going to uni, having something to fall back on is a valid plan, only you can decide what is best for you.

perhaps a good place to start is to build a plan with targets, it could help you to firm up what you are aiming at and what is important to you. Most self made rich people have very clear visions of what they are aiming at.

If being rich is THE most important thing, finding someone prepared to act as a mentor could work well. Finding a way to mix with people who have already achieved what you want will give you lots of ideas

there are lots of ways out there to make lots of money, if it's what drives you, you will find a way that is right for you

I would also add that it's important to keep an open mind in life, you may find that it is actually other things that bring you most happiness, please don't close your eyes to them

and good luck - hope you are successful in whatever you end up doing

davidjwest

One other thing, money is not the be all and end all in life and you'll appreciate that all the more as you get older.

Money wont make you happy, but it might help!