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Old 07-23-2014, 03:09 PM
 
23 posts, read 41,549 times
Reputation: 34

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Okay this is a very common question and majority of people would love to achieve this goal..

But I want to realistically know how I can become a millionaire or multimillionaire at a younger age perhaps 30 or 35. I want to make all the right decisions. I would appreciate not to hear comments telling me "money doesn't make you happy" or "you can't do it". I'm not doing attempting this to try to make me happy, I'm not that insecure. I simply want to be able to live financially free and not be in debt all my life. I want to be able to pay cash with things without having to to worry if it's going to hurt my finances. I want to live in a nice car and have a nice car and be able to use my wealth to travel the world. I also want to be able to give back to my family. My main reason to wanting to become wealthy is wanting to have the ability to travel whenever I want and experience many things with my friends and family I would not be able to do without money. I don't want to have to work all my life in a corporate job until I'm 60 or 65 to be able to retire and enjoy my money. I want to enjoy life earlier and live an exciting life. I'm ambitious and I listen to people like Dave Ramsey who talk about management of wealth.

I am currently 18 years old and starting my first year of college at a large public university. I am getting a bachelors' in accounting or finance, but most likely accounting, and from a pretty decent accounting school. I plan to also pursue a masters in accounting/finance, or an MBA/CPA if it will help me out in my life. I have a friend that works for a big 4 firm, and he has kinda guided me into going into that career path. So I was planning to work for a big 4 and save my salary and maybe invest in a business or a franchise like McDonalds after 10-12 of work. Maybe even get a high paying job in industry after a few years in a big 4. Any advice? REALISTIC please.

Also I am very entrepreneurial and I'm trying to learn more about business and also ways of making money through the internet. I love the show "Shark Tank", and it inspires me. But my true goal would be to be a millionaire as fast as possible maybe with an investment, real estate venture, a business or product, or franchises, or even online businesses. But I really need to good advice and HELP so I can achieve my goals. I rather be my OWN boss and not have to be working off a salary every year. I want capital and ability to invest in other things. Honestly I would like to retire as early as possible so I can spend more time with my family and experiencing the world I haven't been able to see.

Can someone give me some good advice? I'm young and have time to prevent future mistakes by learning from other people. And I don't know where to precisely begin...Would greatly appreciate some help.
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Old 07-23-2014, 03:26 PM
 
706 posts, read 1,309,454 times
Reputation: 369
More you save now, less you need to later. It is as simple as that. I would stay out of stocks right now with the exception of financials, where I would back up the truck: buy BAC, C, JPM, FNFG, RF, STI, KEY, etc. etc.

Don't get married he he...
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Old 07-23-2014, 03:27 PM
 
23 posts, read 41,549 times
Reputation: 34
Whats wrong with marrying someone will the same money values as I?
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Old 07-23-2014, 03:31 PM
 
Location: StlNoco Mo, where the woodbine twineth
10,021 posts, read 8,644,874 times
Reputation: 14571
Become a School Superintendent.
In 5 years you should have a million.
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Old 07-23-2014, 03:33 PM
 
23 posts, read 41,549 times
Reputation: 34
Education is not my speciality and I'm pretty sure you have to have over 15+ years of experience to even get elected. I need something realistic and relevant to my situation.
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Old 07-23-2014, 03:38 PM
 
18,549 posts, read 15,596,590 times
Reputation: 16235
Quote:
Originally Posted by cityboyforlife100 View Post
Okay this is a very common question and majority of people would love to achieve this goal..

But I want to realistically know how I can become a millionaire or multimillionaire at a younger age perhaps 30 or 35. I want to make all the right decisions. I would appreciate not to hear comments telling me "money doesn't make you happy" or "you can't do it". I'm not doing attempting this to try to make me happy, I'm not that insecure. I simply want to be able to live financially free and not be in debt all my life. I want to be able to pay cash with things without having to to worry if it's going to hurt my finances. I want to live in a nice car and have a nice car and be able to use my wealth to travel the world. I also want to be able to give back to my family. My main reason to wanting to become wealthy is wanting to have the ability to travel whenever I want and experience many things with my friends and family I would not be able to do without money. I don't want to have to work all my life in a corporate job until I'm 60 or 65 to be able to retire and enjoy my money. I want to enjoy life earlier and live an exciting life. I'm ambitious and I listen to people like Dave Ramsey who talk about management of wealth.

I am currently 18 years old and starting my first year of college at a large public university. I am getting a bachelors' in accounting or finance, but most likely accounting, and from a pretty decent accounting school. I plan to also pursue a masters in accounting/finance, or an MBA/CPA if it will help me out in my life. I have a friend that works for a big 4 firm, and he has kinda guided me into going into that career path. So I was planning to work for a big 4 and save my salary and maybe invest in a business or a franchise like McDonalds after 10-12 of work. Maybe even get a high paying job in industry after a few years in a big 4. Any advice? REALISTIC please.

Also I am very entrepreneurial and I'm trying to learn more about business and also ways of making money through the internet. I love the show "Shark Tank", and it inspires me. But my true goal would be to be a millionaire as fast as possible maybe with an investment, real estate venture, a business or product, or franchises, or even online businesses. But I really need to good advice and HELP so I can achieve my goals. I rather be my OWN boss and not have to be working off a salary every year. I want capital and ability to invest in other things. Honestly I would like to retire as early as possible so I can spend more time with my family and experiencing the world I haven't been able to see.

Can someone give me some good advice? I'm young and have time to prevent future mistakes by learning from other people. And I don't know where to precisely begin...Would greatly appreciate some help.
Absolutely no dawdling. If you switch majors because you can't make up your mind, you lose. Choose a marketable major and stick with it. Do not take a year off to "explore", keep your connections and work your way up. Always work on the next step in your career and do not get sidetracked. Maintain connections and attend all career fairs. Do projects to demonstrate your abilities, and be able to impress employers. Research what they do and go in to your interview ready to talk about what they do and demonstrate that you have relevant abilities. I don't think becoming a millionaire at that young an age is remotely realistic, but by 45 or 50, sure. Just don't blow all your money and invest wisely.
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Old 07-23-2014, 03:41 PM
 
26,194 posts, read 21,601,431 times
Reputation: 22772
Save 4k a month every month for 12 years @ 9% annual return there is your million
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Old 07-23-2014, 03:41 PM
 
Location: southwestern PA
22,599 posts, read 47,707,443 times
Reputation: 48316
OP, what is Plan B if a Big Four does not hire you?
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Old 07-23-2014, 03:46 PM
 
23 posts, read 41,549 times
Reputation: 34
I honestly don't want to wait till I'm in my 40's or 50's. I've read a lot of articles about young guys in their 20's and 30's that come up with a good idea or do something entrepreneurial and become millionaires. I'm looking into something more in those means, not working in a corporate job for 20+ years. I want automated and residual income, serious money.

Well I have few connections at this point with big four and kinda secret info about getting in. But I would suppose my plan B would to work for a similar big company that has a lot of opportunities and high pay or even a corporation and work my way up. Maybe start a business or company but I need capital.
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Old 07-23-2014, 03:49 PM
 
26,194 posts, read 21,601,431 times
Reputation: 22772
I wish someone would just drop a million dollar idea in my lap and I could make lots of residual income off of
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