What are decent ways to earn enough money for a comfortable lifestyle living alone?

tyciol

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Even at 25 right now I'm still working jobs which are barely above minimum wage, getting kind of sick of it. I'm curious for the more well-off guys, how you earn your living, how much enjoyment you get out of what you do, plans for the future, how to work our way up to better-paying and stable sustainable work.

Ideally I'd like to own my own house some day, have a decent education, and even though it sounds archaic, possibly support any girl I might like in spite of not being well off herself, as I'd be able to understand being in a rut since I'm in one now.

Is education the answer? Working on social skills so we can become managers? Investing? I've never had any role models in this regard and am not sure where to look. I've been thinking there are probably good books on this in libraries, but with the selections so big I don't know what's valid vs. mush.
 
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Scaramouche

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Dear Tykiol,
first thing is that you need a bollard....Property,save up for a deposit on a Large run down home,move a caravan or two,in the back yard,get others to pay for the mortgage...chose only malleable managable tenants...get a night job,cleaning floors any damn thing..inevitably you will acquire some skills gradually the Inflation that is coming will make whatever you pay for your property look like peanuts...never dispose of property unless it is a transposition of asset...Sure in the States it looks grim,but it will come good,remember what Rothschild would say,"When the Streets run with blood I buy,buy,buy".......Real Estate is predicated on two things a fixed supply of land,and a constantly expanding population.
 

Zunder

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tyciol said:
Even at 25 right now I'm still working jobs which are barely above minimum wage, getting kind of sick of it. I'm curious for the more well-off guys, how you earn your living, how much enjoyment you get out of what you do, plans for the future, how to work our way up to better-paying and stable sustainable work.

Ideally I'd like to own my own house some day, have a decent education, and even though it sounds archaic, possibly support any girl I might like in spite of not being well off herself, as I'd be able to understand being in a rut since I'm in one now.

Is education the answer? Working on social skills so we can become managers? Investing? I've never had any role models in this regard and am not sure where to look. I've been thinking there are probably good books on this in libraries, but with the selections so big I don't know what's valid vs. mush.
Roosh has the answer for you: http://www.rooshv.com/im-ready-to-man-up
 

Fuglydude

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Im' an RN in critical care. Its a pretty fast paced life and death job environment, and suits my ADHD personality well! I really enjoy my job. I have no problems work 50-55 hours a week on average, and making over 100k/year. I have degrees in molecular bio and nursing. I've wasted years of my life in school where I learned stuff that I probably am not gonna use again. Its not a waste per say because I enjoyed a lot of it, but if I could do it all over again I would have probably done pharmacy, as its a really chill slack job (I have a lot of buddies who are pharmacists) that pays well. The investment plan I'm suggesting to you below is basically the path I'm gonna be taking.

First thing you wanna do is get a reasonable education and do a job that pays well... this means 100k at the very least. Secondly you don't wanna have to spend too much time in school. The best job I can think of that you can do both of these things and be done in around 6 years is to be a pharmacist. In Alberta, pharmacists make 50-60/hour... if you pick up an extra shift a week, you can easily make 10-11k/month (120-130k/year).

Once you have a good income, save and put down a 5% downpayment on a 5 bedroom house. Rent out 4 bedrooms, and live virtually mortgage free. Save more cash and buy another house and work your way up to 1-1.5 mil in total real estate holdings. This will form a great real estate investment base. Then once you have a secured investment base, consider/explore niche markets. Doesn't have to be in real estate, but definitely in something that will get you heavy duty ROI. As a pharmacist you could consider opening up a small pharmacy at a newer suburb(s) or under serviced areas.

Bottom line is you dont' get rich by working, however, for most of us, you need to work first to secure capital to gain wealth/invest. I like real estate as a starting point because although it is capital intensive, real estate in Canada, is about as safe an investment as you can make and still get double digit returns assuming you qualify and choose the property appropriately. Don't be afraid to diversify your assets once you have a good real estate base under you. Also, really get to know tax law and/or hire a good tax accountant. There are many loopholes that businesses can use to maximize their margins.

This methodology will not make you Bill Gates overnight, but should easily make it so you have a net worth of a few million around retirement.
 

Zunder

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Fuglydude said:
Im' an RN in critical care. Its a pretty fast paced life and death job environment, and suits my ADHD personality well! I really enjoy my job. I have no problems work 50-55 hours a week on average, and making over 100k/year. I have degrees in molecular bio and nursing. I've wasted years of my life in school where I learned stuff that I probably am not gonna use again. Its not a waste per say because I enjoyed a lot of it, but if I could do it all over again I would have probably done pharmacy, as its a really chill slack job (I have a lot of buddies who are pharmacists) that pays well. The investment plan I'm suggesting to you below is basically the path I'm gonna be taking.

First thing you wanna do is get a reasonable education and do a job that pays well... this means 100k at the very least. Secondly you don't wanna have to spend too much time in school. The best job I can think of that you can do both of these things and be done in around 6 years is to be a pharmacist. In Alberta, pharmacists make 50-60/hour... if you pick up an extra shift a week, you can easily make 10-11k/month (120-130k/year).

Once you have a good income, save and put down a 5% downpayment on a 5 bedroom house. Rent out 4 bedrooms, and live virtually mortgage free. Save more cash and buy another house and work your way up to 1-1.5 mil in total real estate holdings. This will form a great real estate investment base. Then once you have a secured investment base, consider/explore niche markets. Doesn't have to be in real estate, but definitely in something that will get you heavy duty ROI. As a pharmacist you could consider opening up a small pharmacy at a newer suburb(s) or under serviced areas.

Bottom line is you dont' get rich by working, however, for most of us, you need to work first to secure capital to gain wealth/invest. I like real estate as a starting point because although it is capital intensive, real estate in Canada, is about as safe an investment as you can make and still get double digit returns assuming you qualify and choose the property appropriately. Don't be afraid to diversify your assets once you have a good real estate base under you. Also, really get to know tax law and/or hire a good tax accountant. There are many loopholes that businesses can use to maximize their margins.

This methodology will not make you Bill Gates overnight, but should easily make it so you have a net worth of a few million around retirement.
Yep, run up that debt on education and real estate. When the next big financial meltdown hits youll be fvcked and can then join the protesters on Wall st, whose numbers by then should have swolled to half the USA.

Poland sounds better all the time.........
 
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zekko

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Fuglydude said:
Once you have a good income, save and put down a 5% downpayment on a 5 bedroom house. Rent out 4 bedrooms, and live virtually mortgage free.
I value my privacy far too much to ever live with four other people. Just saying.

I can't help but notice no one on this thread is from the US. I take it that in your countries the housing market has not dropped out like it has here? I know quite a few guys who were doing the accrue real estate thing and had to get out of it.

I don't think I really understand the housing crisis here. I know a lot of people bought houses they couldn't afford and then couldn't pay the mortgage. But it seems like everybody needs a place to live, so I don't know why people are having trouble renting.

I bought into a REIT when the housing market collapsed. I figured I would buy it while it's low. But then it went even lower lol. As of right now I've lost some money on it but I hope it will recover and make some gains eventually, and I'll come out ahead.
 

SgtSplacker

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Property is the easiest thing to invest in because there are so many "white towels" you can take advantage of. Buy stock, it looses value nobody cares. Buy a house, it looses value and theres programs and things you can take advantage of. Heck at the very least live there till they kick you out and save mortgage money for months so it's basically still profitable. Get into realestate, get the ball rolling start learning about it whether you are ready to invest or not theres a certain amount of education you need before you make your first investment intelligently, get on related forums and such. I bought my house at the absolute worst time to buy, I modded my loan, and now i'm paying 2/3 of what someone in a small 1BR pays and I have a large 2BR by the beach. You just have to be very aggressive with getting the best possible deal you can. Dont be discouraged people that work in property will look down on you for being frugal, wipe your arse with them and keep pressing on this is a huge step in your life. As far as a job goes in my opinion the easiest things to get into are sales and computers if you have any kind of affinity to it. Doing help desk work is easy and all the answers you need are googleable. With a few months experience you will be golden, the same stuff tends to break over and over so it gets easier after you get used to it. Buy that first property, consider a roommate situation at first at least until you can refinance and lower your payments.
 

azanon

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tyciol said:
Even at 25 right now I'm still working jobs which are barely above minimum wage, getting kind of sick of it. I'm curious for the more well-off guys, how you earn your living, how much enjoyment you get out of what you do, plans for the future, how to work our way up to better-paying and stable sustainable work.

..........

Is education the answer? Working on social skills so we can become managers? Investing? I've never had any role models in this regard and am not sure where to look. I've been thinking there are probably good books on this in libraries, but with the selections so big I don't know what's valid vs. mush.
The easy way is education. I say easy because there are the brilliant Steve Jobs types who can just start a private business on their own and make it. Degrees, if nothing else, are discriminators. If you have a job and 100 people who want it, one easy way to get rid of 60 out of 100 is to eliminate those without college degrees.

Cliff notes key to prosperity: Research what is the hottest field in most demand for employees (use google), pick one you like and go to school for it. Get the first 2 years at a cheap junior college, then transfer those credits into a decent (but not expensive college). Get an internship prior to completing the degree (junior or senior year) in said field, then when you graduate, you can reflect on how tough minimum wage was. The purpose of the internship is to ensure that you are employed by the time you leave school.

MINIMIZE debt ASAP going through school. If you're on your own, you'll probably have to work part time. If you're own your own, you'll have no life doing both working and studying for 4 years. Suck it up, because its worth it.

I have a masters degree and make near 6-figures btw. I don't want to be too specific as to avoid google search associations with my handle.
 
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