How to get rich?

[Gyakusetsu]

If you plan to be a corrupt cop you could increase your revenue by running a crack house where you could shake down your renters and at different points turn your renters in to get promotions. This was all covered in Training Day.

 

[Frankenstein]

Well, there's a song about that

[video=youtube;CqqUl06uXSM]https://www.youtube.com/watch?v=CqqUl06uXSM[/video]

 

[Gintõki1]

Make and sell bullshit that no one needs. That's the right way to make money nowadays, as you see can see everywhere.

 

[razz143]

just catch a rich p***y.........XD

 

[The Flâsh1]

im 5'11" i dont think i can play basketball for the NBA

do you know how to play it well?

 

[Uzumaki HAri]

Write a book like harry potter........I guess

 

[rollin]

Being rich isn't about how much money you make but how much money you save and what you do with it
Try and save around 10% of your paychecks and try and multiply the money you save

 

[Uzumaki HAri]

you've got brains rollin

 

[Not Cauzing]

Ask Rick Ross

Play for the WNBA

stop it hahahaha XD

 

[Revyy]

I really wouldn't ask anyone on this site how to get rich lol.

 

[BlacLord™]

Start a business.

That's what I did, although it wasn't necessary. I've come from a family of fair, but no less scandalous nouveau riche.

You could always try your hand at cryptocurrency mining but it's not without risk.

 

[Hexuze]

Play runescape and sell the cash for irl money.

 

[Lyke]

Bro I'm rich you need rich parents

 

[Sherlock.]

Bro I'm rich you need rich parents

Or one could become a rich parent for their kid.

OT - There's lots of ways. Start a Business, Invest your savings, Select a goal and give it your all.

 

[Cunning Linguist]

I plan on being a cop and a landlord at the same time, is that a good idea? Or are there other suggestions

I don't know if you are serious, but I know that no one here will give you a serious answer. I'm going to assume that you live in the US. You want to be a cop. OK. That means you begin as patrol. Patrol, depending on location, makes between $35,000 and $50,000. It will take several years to be able to afford to buy property to lease since the federal government will take $5000 to $8000 of that right off the bat. It goes up even higher if you live in a state that has income tax.

Rental property is difficult. Everything has to be up to code and you will most likely have to make upgrades so people will want to live there. You have to price rent so that it covers more than the cost of your mortgage so you make a profit. In order to get a mortgage that low, you have to put more money down on the property.
ex. You buy a rental property for $250,000. It has two living spaces. One above ground and one in the basement. The basement needs $15,000 in upgrades to make it livable (you can negotiate this in the price but for the sake of the ex you don't). You have to take a loan out for $265,000. Let's say you put 10% down (standard practice). That means that you have to pay about $26,000 down to get the loan.
Impossible on your salary. It will take several years to accumulate that much wealth, assuming you can. Remember that life happens and you can get screwed by an injury or illness. Chances are good that you won't be able to do this and even if you could, you won't get "rich" in the process
*Source- Am an accountant/mutual fund manager

 

[BlacLord™]

I don't know if you are serious, but I know that no one here will give you a serious answer. I'm going to assume that you live in the US. You want to be a cop. OK. That means you begin as patrol. Patrol, depending on location, makes between $35,000 and $50,000. It will take several years to be able to afford to buy property to lease since the federal government will take $5000 to $8000 of that right off the bat. It goes up even higher if you live in a state that has income tax.

Rental property is difficult. Everything has to be up to code and you will most likely have to make upgrades so people will want to live there. You have to price rent so that it covers more than the cost of your mortgage so you make a profit. In order to get a mortgage that low, you have to put more money down on the property.
ex. You buy a rental property for $250,000. It has two living spaces. One above ground and one in the basement. The basement needs $15,000 in upgrades to make it livable (you can negotiate this in the price but for the sake of the ex you don't). You have to take a loan out for $265,000. Let's say you put 10% down (standard practice). That means that you have to pay about $26,000 down to get the loan.
Impossible on your salary. It will take several years to accumulate that much wealth, assuming you can. Remember that life happens and you can get screwed by an injury or illness. Chances are good that you won't be able to do this and even if you could, you won't get "rich" in the process
*Source- Am an accountant/mutual fund manager

All you've done is taken his question and focused on a single part of a single facet. And even then, you've given a very specific scenario that doesn't take into account any variables.

Yes, he'll never be rich but I know US "cops" who have worked hard (overtime etc) and made near to $100K. Still not a phenomenal amount but a far cry from the original estimates you gave. Granted though, the chances of getting rich are slim in said scenario.

 

[Ldude]

My family is fairly well-off, so I don't have to worry about college/grad school loans. After high school I obviously plan on getting good higher education (won't be a problem because I'm currently a good student with adequate grades) and then I can get a reasonable job, hopefully. As a back-up plan I could become a structural engineer and take over the family business. However, being a business-owner seems like a lot of work, and I know cause my dad works at his business like 14-17 hrs a day... I don't know if I'm cut out for that. I might choose something more low-key, like a job in chemistry... I don't really know what I want to do yet..

For the time being, I figure if I get a cheap place after school, and then eat small amounts of food and get little furniture, I'll be okay.

 

[Hexuze]

Become an doctor/engineer/accountant.

Jk, do something you love. Since you said being a cop, go with that. In Canada, they earn a decent amount & are above average in terms of yearly income.

 

[Cunning Linguist]

All you've done is taken his question and focused on a single part of a single facet. And even then, you've given a very specific scenario that doesn't take into account any variables.

Yes, he'll never be rich but I know US "cops" who have worked hard (overtime etc) and made near to $100K. Still not a phenomenal amount but a far cry from the original estimates you gave. Granted though, the chances of getting rich are slim in said scenario.

Oh sure he could make more money then the estimates. If he worked that hard he wouldn't have time to also be a landlord. The fact remains that his plan is impossible

 

[ar1987]

1) delete system32
2)????????????????
3) Profit!