How to ACTUALLY get rich and build wealth
I'm a 22 year old graduate and have worked a standard 9-5 job as a software developer. I've come to realise that I hate going into the office everyday, sitting at my desk for 8 hours working on something of no interest to me, only to earn a mediocre wage. I don't want to do this for the rest of my life. I want to achieve financial freedom, being able to make more money working from wherever I want, at whatever time I want.
After having this idea of increasing my income, I've read a couple of self improvement books such as the Millionaire Fastlane from which I learnt that following that standard advice of working the 9-5, putting money aside in my savings and pension, puts me in the "slow lane" (basically a path to mediocrity). I've already seen this for myself in my office where there are people in their 50s, coming to work everyday looking miserable and complaining about the cost of living and pensions. I don't want to end up here.
I've seen quite a lot of advice on how to build wealth and be financially free, but it just leaves me confused. I know I shouldn't just be focussing on making big numbers otherwise I'm never going to actually reach that point. I've heard advice that "the best business model in 2023 is xyz" whether that SMMA, dropshipping, copywriting etc. I've also heard advice that I need to stop caring about money, and instead focus on finding my purpose. Money will come in when I put my full efforts into that purpose. I've also been told that trying to find my passion and make money from it is just ******** and it won't work.
I don't know what to do anymore, could I get some advice please.
After having this idea of increasing my income, I've read a couple of self improvement books such as the Millionaire Fastlane from which I learnt that following that standard advice of working the 9-5, putting money aside in my savings and pension, puts me in the "slow lane" (basically a path to mediocrity). I've already seen this for myself in my office where there are people in their 50s, coming to work everyday looking miserable and complaining about the cost of living and pensions. I don't want to end up here.
I've seen quite a lot of advice on how to build wealth and be financially free, but it just leaves me confused. I know I shouldn't just be focussing on making big numbers otherwise I'm never going to actually reach that point. I've heard advice that "the best business model in 2023 is xyz" whether that SMMA, dropshipping, copywriting etc. I've also heard advice that I need to stop caring about money, and instead focus on finding my purpose. Money will come in when I put my full efforts into that purpose. I've also been told that trying to find my passion and make money from it is just ******** and it won't work.
I don't know what to do anymore, could I get some advice please.
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Step 1: be born into generational wealth
Step 2: be rich and build wealth
Since you've not achieved step 1 presumably, accept the best case scenario is a comfortable middle class life.
Step 2: be rich and build wealth
Since you've not achieved step 1 presumably, accept the best case scenario is a comfortable middle class life.
Original post by artful_lounger
Step 1: be born into generational wealth
Step 2: be rich and build wealth
Since you've not achieved step 1 presumably, accept the best case scenario is a comfortable middle class life.
Step 2: be rich and build wealth
Since you've not achieved step 1 presumably, accept the best case scenario is a comfortable middle class life.
So you mean to say anyone who hasn't been born into generational wealth, can't build wealth themselves and so they must live a middle class life? I disagree
Original post by NickoWick
What type of lifestyle do you want to live?
Do you invest or having savings for a business?
Some business don't need 100% of your time and there are numerous business ideas out there like that.
Btw, don't let this put you down else you'd fall into scams and ****.
Do you invest or having savings for a business?
Some business don't need 100% of your time and there are numerous business ideas out there like that.
Btw, don't let this put you down else you'd fall into scams and ****.
I just picture myself working on my laptop ina a cafe somewhere on the other side of the world like Thailand. That is my definition of being financially free. Not location bound, and not really time bound.
This office I work in currently is just depressing, because I feel like a slave to the company. I don't even see sunlight 5 days a week because I get in early and leave late. All of that just to earn a mediocre wage...
Also I'm pretty broke right now so don't really have too much money to put towards a business but there are several business models out there that require 0 initial investment. You can start some of these with just a laptop and a stable internet connection.
My main question was do I try to look for a business model hopping from one to another, or do I for now just focus on finding a passion and working on that ?
Original post by rsen1324
So you mean to say anyone who hasn't been born into generational wealth, can't build wealth themselves and so they must live a middle class life?
Pretty much. Welcome to late stage capitalism!
Original post by rsen1324
So you mean to say anyone who hasn't been born into generational wealth, can't build wealth themselves and so they must live a middle class life? I disagree
Lounger isn't talking 100% absolutes here, there will be some people who are able to make enormous successes from very little - but there are incredibly few and that usually comes about as a result of most or all of the following:
•
identifying/making a true, profitable gap in the market;
•
having or gaining a deep insight into the sector;
•
working incredibly hard;
•
a high tolerance to failure risk;
•
a fair bit of luck along the way
Not that a comfortable middle class life in he UK is a bad thing at all - that's still putting you in the top c0.00....1%) of the global population in terms of lifestyle.
Rsen - I think you need to take a step back - appreciate they'll have been some useful advice and pointers in the book you've read, but the author has written an inspiring book to sell copies of his book where the basic message seems to be: Create your own large scale-able business to make lots of money.
Creating a profitable, scaleable business takes enormous amounts of hard work, planning, sector awareness, knowledge, +some starting investment etc... Many of us aren't cut out for this at all, but for those that are, they will not be running this from a beach in the sun working the hours that suit them. Starting a business as an entrepreneur in almost any sector involves enormous amounts of hard work. Hours will be dictated by your clients, customers and suppliers, I know two people closely who've started businesses - they have both been successful but they are without a doubt incredibly driven and committed - up at 6am most mornings and working into the late evenings & weekends. When they are able to take holidays (which is rare) they often spend most of the holiday working and holidays have to be timed around business need and demands in any event. They would both probably agree that on a day-to-day basis anyway, they feel like a slave to their business
If you do want to start a business (and for what its worth both of the two friends I mentioned above wouldn't do anything else - they love it, despite the stress and demands) - you have to find something that you're both interested/knowledgeable or passionate about, and that has a viable business model to create revenues.
Which leads to asking - what business do you think you could start that ticks both of these? (and having no capital of your own to invest makes this harder) Could you do it with just a laptop and an internet connection?
Original post by rsen1324
I just picture myself working on my laptop ina a cafe somewhere on the other side of the world like Thailand. That is my definition of being financially free. Not location bound, and not really time bound.
This office I work in currently is just depressing, because I feel like a slave to the company. I don't even see sunlight 5 days a week because I get in early and leave late. All of that just to earn a mediocre wage...
Also I'm pretty broke right now so don't really have too much money to put towards a business but there are several business models out there that require 0 initial investment. You can start some of these with just a laptop and a stable internet connection.
My main question was do I try to look for a business model hopping from one to another, or do I for now just focus on finding a passion and working on that ?
This office I work in currently is just depressing, because I feel like a slave to the company. I don't even see sunlight 5 days a week because I get in early and leave late. All of that just to earn a mediocre wage...
Also I'm pretty broke right now so don't really have too much money to put towards a business but there are several business models out there that require 0 initial investment. You can start some of these with just a laptop and a stable internet connection.
My main question was do I try to look for a business model hopping from one to another, or do I for now just focus on finding a passion and working on that ?
Bro it's the dream that makes the money. Hopping from one business to another will drain you.
You have your dream, it's how to get there that matters now.
Look around you and think!
Besides as a software developer, you'd be earning very well except on a junior level.
That said, I'm actually a react developer myself, not working yet, cos I'm still learning this Reactjs.
I might have some ideas for you. Let's link up!
Original post by NickoWick
Bro it's the dream that makes the money. Hopping from one business to another will drain you.
You have your dream, it's how to get there that matters now.
Look around you and think!
Besides as a software developer, you'd be earning very well except on a junior level.
That said, I'm actually a react developer myself, not working yet, cos I'm still learning this Reactjs.
I might have some ideas for you. Let's link up!
You have your dream, it's how to get there that matters now.
Look around you and think!
Besides as a software developer, you'd be earning very well except on a junior level.
That said, I'm actually a react developer myself, not working yet, cos I'm still learning this Reactjs.
I might have some ideas for you. Let's link up!
Yeah, I've heard that jumping from one business model to another is a mistake a lot of people make out of greed. It just leads them to burn and crash. It's about picking the right vehicle to wealth.
Sure, let me pm you.
Original post by rsen1324
I'm a 22 year old graduate and have worked a standard 9-5 job as a software developer. I've come to realise that I hate going into the office everyday, sitting at my desk for 8 hours working on something of no interest to me, only to earn a mediocre wage. I don't want to do this for the rest of my life. I want to achieve financial freedom, being able to make more money working from wherever I want, at whatever time I want.
After having this idea of increasing my income, I've read a couple of self improvement books such as the Millionaire Fastlane from which I learnt that following that standard advice of working the 9-5, putting money aside in my savings and pension, puts me in the "slow lane" (basically a path to mediocrity). I've already seen this for myself in my office where there are people in their 50s, coming to work everyday looking miserable and complaining about the cost of living and pensions. I don't want to end up here.
I've seen quite a lot of advice on how to build wealth and be financially free, but it just leaves me confused. I know I shouldn't just be focussing on making big numbers otherwise I'm never going to actually reach that point. I've heard advice that "the best business model in 2023 is xyz" whether that SMMA, dropshipping, copywriting etc. I've also heard advice that I need to stop caring about money, and instead focus on finding my purpose. Money will come in when I put my full efforts into that purpose. I've also been told that trying to find my passion and make money from it is just ******** and it won't work.
I don't know what to do anymore, could I get some advice please.
After having this idea of increasing my income, I've read a couple of self improvement books such as the Millionaire Fastlane from which I learnt that following that standard advice of working the 9-5, putting money aside in my savings and pension, puts me in the "slow lane" (basically a path to mediocrity). I've already seen this for myself in my office where there are people in their 50s, coming to work everyday looking miserable and complaining about the cost of living and pensions. I don't want to end up here.
I've seen quite a lot of advice on how to build wealth and be financially free, but it just leaves me confused. I know I shouldn't just be focussing on making big numbers otherwise I'm never going to actually reach that point. I've heard advice that "the best business model in 2023 is xyz" whether that SMMA, dropshipping, copywriting etc. I've also heard advice that I need to stop caring about money, and instead focus on finding my purpose. Money will come in when I put my full efforts into that purpose. I've also been told that trying to find my passion and make money from it is just ******** and it won't work.
I don't know what to do anymore, could I get some advice please.
"I don't want to do this for the rest of my life. I want to achieve financial freedom, being able to make more money working from wherever I want, at whatever time I want."
Ah sweet summer child, you're in for a big shock!
Original post by Laffer
"I don't want to do this for the rest of my life. I want to achieve financial freedom, being able to make more money working from wherever I want, at whatever time I want."
Ah sweet summer child, you're in for a big shock!
Ah sweet summer child, you're in for a big shock!
I feel like now is the era of making money online. There are actually 14 year old girls on tik tok (not saying that's the path I want to go down) who make more money than some doctors.
And by no means is it easy by the way. Just saying it's possible to achieve that financial freedom in this era
(edited 5 months ago)
Original post by rsen1324
I feel like now is the era of making money online. There are actually 14 year old girls on tik tok (not saying that's the path I want to go down) who make more money than some doctors.
Feel what you like, it doesn't make a jot of difference to reality! People win the lottery every day, does that mean you should fixate on winning yourself? Stop looking for shortcuts, parroting scammers online and put the effort in to build a life.
(edited 5 months ago)
Original post by Laffer
Feel what you like, it doesn't make a jot of difference to reality! People win the lottery every day, does that mean you should fixate on winning yourself? Stop looking for shortcuts, parroting scammers online and put the effort in to build a life.
Not once did I say that this was easy or it was a shortcut. In fact it's probably harder than a 9-5, considering there's a lot more risk to working for yourself (9-5 guarantees you'll make x amount of money every month, working for yourself doesn't). However this way, there is potential to make much much more money and it is in general a lot more fulfilling. I'd much rather work for myself than slave away at a company working in the 9-5 ratrace, sucking my bosses ****.
Making money now is different to how it was 15-20 years ago where the advice to get rich was get a 9-5 and save up. Things work differently now.
(edited 5 months ago)
Original post by rsen1324
Not once did I say that this was easy or it was a shortcut. In fact it's probably harder than a 9-5, considering there's a lot more risk to working for yourself (9-5 guarantees you'll make x amount of money every month, working for yourself doesn't). However this way, there is potential to make much much more money and it is in general a lot more fulfilling. I'd much rather work for myself than slave away at a company working in the 9-5 ratrace, sucking my bosses ****.
Making money now is different to how it was 15-20 years ago where the advice to get rich was get a 9-5 and save up. Things work differently now.
Making money now is different to how it was 15-20 years ago where the advice to get rich was get a 9-5 and save up. Things work differently now.
Honestly in between the influencer cliches your entire post reeks of naiveté and entitlement.
"I've come to realise that I hate going into the office everyday, sitting at my desk for 8 hours working on something of no interest to me"
Wow, everyone else loves it, you must be so unique!
"I want to achieve financial freedom, being able to make more money working from wherever I want, at whatever time I want."
So insightful, no one else has even thought to achieve this.
"I'd much rather work for myself than slave away at a company working in the 9-5 ratrace, sucking my bosses ****."
Cool, well go and do it then, stop wittering on here about drop shipping and self help books and go and do something.
Original post by ajj2000
You have been reading some really flakey advice. Copywriting is terribly badly paid for most people. The rest of your OP sounds like you have been watching chancers on YouTube.
How good at IT/ programming are you? That can be very lucrative.
How good at IT/ programming are you? That can be very lucrative.
I never said I even tried copywriting, maybe it's terrible. I just used it as an example of a business model that people start. Let me rewrite my question as it seems like a lot of people have misunderstood: I'm looking at making money online, and I'm not sure how to go about choosing the right business model for me.
And to be honest with you, yeah I have been watching a couple of people on Youtube (such as Iman Gadzhi, Ali Abdaal, etc - idk if you've heard of them) who have made their money online. But I'm not going to blindly follow their advice and suddenly open a dropshipping store the next day or some ****, nor am I buying their overpriced courses. This content has simply put that idea/ in my head that it is possible to make moeny online, and I'm just toying with that idea.
Yeah I gotta a pretty good coding background, and while do somewhat enjoy coding stuff, it's not something I want to do for the rest of my life.
(edited 5 months ago)
Original post by rsen1324
I never said I even tried copywriting, maybe it's terrible. I just used it as an example of a business model that people start. Let me rewrite my question as it seems like a lot of people have misunderstood: I'm looking at making money online, and I'm not sure how to go about choosing the right business model for me.
And to be honest with you, yeah I have been watching a couple of people on Youtube (such as Iman Gadzhi, Ali Abdaal, etc - idk if you've heard of them) who have made their money online. But I'm not going to blindly follow their advice and suddenly open a dropshipping store the next day or some ****, nor am I buying their overpriced courses. This content has simply put that idea/ in my head that it is possible to make moeny online, and I'm just toying with that idea.
Yeah I gotta a pretty good coding background, and while do somewhat enjoy coding stuff, it's not something I want to do for the rest of my life.
And to be honest with you, yeah I have been watching a couple of people on Youtube (such as Iman Gadzhi, Ali Abdaal, etc - idk if you've heard of them) who have made their money online. But I'm not going to blindly follow their advice and suddenly open a dropshipping store the next day or some ****, nor am I buying their overpriced courses. This content has simply put that idea/ in my head that it is possible to make moeny online, and I'm just toying with that idea.
Yeah I gotta a pretty good coding background, and while do somewhat enjoy coding stuff, it's not something I want to do for the rest of my life.
You definitely know WHAT you want , it is HOW you're yet to figure out.
Original post by Laffer
"I don't want to do this for the rest of my life. I want to achieve financial freedom, being able to make more money working from wherever I want, at whatever time I want."
Ah sweet summer child, you're in for a big shock!
Ah sweet summer child, you're in for a big shock!
Not beyond the realms of possibility for many. Just need to engage in remote work or build a business that can be outsourced or remotely managed. I work 100% remotely now, with most of my team across the globe, I could in theory work from anywhere.
Original post by rsen1324
I never said I even tried copywriting, maybe it's terrible. I just used it as an example of a business model that people start. Let me rewrite my question as it seems like a lot of people have misunderstood: I'm looking at making money online, and I'm not sure how to go about choosing the right business model for me.
And to be honest with you, yeah I have been watching a couple of people on Youtube (such as Iman Gadzhi, Ali Abdaal, etc - idk if you've heard of them) who have made their money online. But I'm not going to blindly follow their advice and suddenly open a dropshipping store the next day or some ****, nor am I buying their overpriced courses. This content has simply put that idea/ in my head that it is possible to make moeny online, and I'm just toying with that idea.
Yeah I gotta a pretty good coding background, and while do somewhat enjoy coding stuff, it's not something I want to do for the rest of my life.
And to be honest with you, yeah I have been watching a couple of people on Youtube (such as Iman Gadzhi, Ali Abdaal, etc - idk if you've heard of them) who have made their money online. But I'm not going to blindly follow their advice and suddenly open a dropshipping store the next day or some ****, nor am I buying their overpriced courses. This content has simply put that idea/ in my head that it is possible to make moeny online, and I'm just toying with that idea.
Yeah I gotta a pretty good coding background, and while do somewhat enjoy coding stuff, it's not something I want to do for the rest of my life.
Look - try doing something different to what you are doing at the moment.
You are interested in:
•
making a lot of money
•
remote working
You are in one of the absolute best fields for this so already at third base.
There is a section of a film called 'The Magnificent Seven' where the protagonists are trying to recruit fighters. They see a man with lots of scars. One guy suggests that he would be a good recruit, Another notes that they should look for the man who gave him the scars.
You need to meet people who are doing the sorts of things you aspire to. Don't watch people on youtube who earn money selling dreams. Go to IT related meetup events and talk to others at the bar. Take a holiday in Portugal or Chiang Mai and meet people who really do remote work at very attractive pay rates. The coffee shops are full of them. Hang out with IT contractors in Canary Wharf. See what they recommend and what their friends are doing.
Original post by Reue
Not beyond the realms of possibility for many. Just need to engage in remote work or build a business that can be outsourced or remotely managed. I work 100% remotely now, with most of my team across the globe, I could in theory work from anywhere.
Laffer wasn't critiquing the idea of remote working itself, more the idea of working "wherever I want, at whatever time I want" and making lots of money whilst doing so (with the slightly typecast beach cafe in Thailand as an example...)
That's the part where the OP needs to re-adjusts their expectations - setting up almost any business is going to involve an a lot of hard work, a lot of the time and working times (whether as owner or a contractor) are going to be dictated to large degree by clients, customers, colleagues, teams etc...
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