High Leverage Opportunities

[cosine]

If you are young, following Dave Ramsey's advice is the best thing you can do to your future self.

Dave Ramsey's advice is targeted towards people with bad habits, e.g. credit card debt. It should be obvious that you want emergency funds and no credit card debt, and to have as little debt as possible on cars or student loans.

An interesting point is he seems fully opposed to "high leverage opportunities" until you are quite established. This is a good risk-averse strategy, but following him will never point you towards ideas like moving to the Canadian Oil Sands to make bank.

Dave Ramsey is also too stubborn to ever accept that bitcoin might be worth a small allocation. If there is one investment idea with a strong asymmetric upside, it's bitcoin.

 

[cosine]

In case anyone is wondering, owning a ski school is not a high leverage opportunity. It would have been easier to take a big pile of money and set fire to it

What about STR/AirBnB/Vacation rentals at a resort town near the ski school?

 

[KomnenAl]

An interesting point is he seems fully opposed to "high leverage opportunities" until you are quite established. This is a good risk-averse strategy, but following him will never point you towards ideas like moving to the Canadian Oil Sands to make bank.

But it will. Until step 4, it's high intensity, all-in effort. That's when you go to the Canadian Oil Sands. High income- no debt is the best way to build wealth long-term.

 

[SkiPro]

What about STR/AirBnB/Vacation rentals at a resort town near the ski school?

I'm not interested in all that, my life is complicated enough.

 

[Get2choppaaa]

Dave Ramsey's advice is targeted towards people with bad habits, e.g. credit card debt. It should be obvious that you want emergency funds and no credit card debt, and to have as little debt as possible on cars or student loans.

An interesting point is he seems fully opposed to "high leverage opportunities" until you are quite established. This is a good risk-averse strategy, but following him will never point you towards ideas like moving to the Canadian Oil Sands to make bank.

Dave Ramsey is also too stubborn to ever accept that bitcoin might be worth a small allocation. If there is one investment idea with a strong asymmetric upside, it's bitcoin.

The issue, and I agree with Ramsey, is that you shouldn't invest in things you don't understand.

Most people don't understand bitcoin well.

Also, it's like people who play the stock market. Verb very very few people are proficient at knowing which stocks to short.

 

[magoo]

You need to start out doing services with small overhead. vg Managing properties. Selling properties. Anything service related with low costs. Go to real estate agencies. Construction companies. Any real estate company and present yourself with an agreement and the comission for every client they might send you. Give 50/70% comission if necessary. You are nobody. Goal is not to make money but grow a customer base.

Work day and night. Never ever cheat or steal from a client. Never.

First years you should be cheaper and better than all competition. At the same time go to a local library or buy the best investment and economic books. Read them. Study online. Don´t save. Spend it all. In the company/in your education.

After a while start saving by spending on investments.

All investments should give 5% yeld. Minimum.

To invest in stocks. You open an account in a brokerage. Best with your normal bank. And check some company. To know the price of a stock put the company name plus yahoo in google. There you will find info.

If I want to invest in coca cola. I write "coca cola yahoo" in google.

The section on forward dividend & yeld is the only one I care about. So it´s giving 3,21%. Lower than 5%. Not investable.

Forward Dividend & Yield

1.94 (3.21%)

For real estate it depends on location. The rule is never buy a house you wouldn´t live in. There´s more. But this is important. Forget about high growth or something will happen that will value the land.

Buy in city centers. Search search search. Use most possible government authorities. Don´t trust anyone.

Real estate is better than stocks because of the low interest rate.

People will say your house is a liability etc etc all rich people I know owned their house. All of them. Google the first 10 names of any list and see if they live in a rented house.

Grow.

Start having multiple income streams. Send your worse clients to a company which is starting. And get comissions from them.

As time passes spend more and more time with your independent income streams and less with clients. Tax and legal planning ensues.

People will want to invite to clubs or private associations. Politely refuse them all. They are all scammers. Maybe continue being friends of one or two high level secret societies members by sending them business opportunities once in a while. Or having coffee. You don´t want to be part of their organizations. They live in a paranoid and anxious state. Always. 24h.

Even though there´s a level of business where things go political. And it will be up to you to live peacefully but less rich. Or continue growing. And deal with political stuff.

Rich people are all conmans. All scammers. Some more. Some less. But every shit that comes from their mouth is a lie. The banks are made of marble because they sell air. Construction people can show up looking like shit. And still be hired. Cause they are providing real value.

Whenever you see someone too perfect, clean and with rich manners. They are scammers. High level. But scammers. They will want something from you.

Dont be superficial. If you buy a vanity object (exotic car etc) Do it because you truly enjoy it. It all wears out in the end. I would honestly ride the ugliest car in the world if it never broke down and I only needed to put gas in it and have good safety. Don´t care about anyone opinion. Nobody cares. Nobody cares about you. Except your close family.

There´s only two things that counts in life. Merit and hard work. Not connections. Not your family. Not anything else. People want money and things done. They don´t care about anything else. Idiots will go on instagram saying otherwise and fools will believe in them. If having a rich family helps. Sometimes yes. Most of the times not. Rich families have more access to good job vacancies. They know it before other people. That´s it. If having a rich family was so important. Rich families wouldn´t disapear. A friend of mine his grandfather was incredibly rich. His father a drunkard. He is poor.

Growing a business is like entering a sports stadium when everybody is leaving. Imagine going against the entire crowd. Always pushing forward.

When you get rich buy a round of beers to CIKERS.

 

[chance vought]

Other than trades, what fields are overwhelmingly male-dominated? STEM careers should be overwhelmingly male-dominated, but there's so much affirmative action and incentives going on to get women into those fields that they all seem to have a lot of obnoxious women in them now. It's still mostly men in STEM, but from what I've read and been told, there's now enough women to cause a lot of headaches and drama.

I’m in aviation. The technical side of which (mechanics, pilots) is 95% male. Yes there is affirmative action, and it sucks for the white guys, but in the end there is no substitute for competence, and the lack of it is too obvious to hide.

Technical jobs that are mentally and/or physically demanding are probably never going to attract many women. The women that they do attract are usually very atypical. Not “masculine” in the feminist sense (nasty behavior.) But in their interests and lack of emotional thinking, I would call them masculine. Talking to them is more like talking to another man, because they have more interest in doing things than building relationships. One I worked with we talked motorcycles. She had 3, including a dedicated track bike. Years later I ran into her at a hotel, she was in the midst of a cross country MC trip (solo). Another gal we talked cycling, she was about to do a multi week 600mi bike trip.

Certain jobs, unless technology changes the nature of them, it is impossible to hide a lack of competence. Getting to that level of competence requires a focus and ability to compartmentalize that most women lack. Maybe a few more will trickle into these professions, but not many of the type that are hard to work with.

I don’t see technical and dangerous jobs, like saturation diving, ever attracting many women, no matter how much they are told to get into these traditionally male occupations.

 

[Northern Pilgrim]

Cross-posting this from the apartment leasing thread because it is quite relevant to the discussion here. If you're not the type of guy who wants to "house hack" like @cosine these are potentially good options.

Seeing how the price of lumber is increasing due to mills shutting down, houses will continue to go up in value since there will be precious few new ones on the market.

And if this happens, the already high rental prices in the US will continue to increase. It seems prudent to find an apartment with a low deposit and get into a long-term lease now to freeze the price for as long as possible. And if you need to get out during that time, the small deposit you put down won't break you if you can't afford to continue due to circumstances like the coming hyperinflation.

Thoughts?

Seems like this is driving many folks towards do-it-yourself mini-houses or even just buying a shed and retrofitting it to live in. For a young single guy, it's honestly not a bad option.

Another route would be to work construction/framing and learn how to build your own place. A couple of experienced guys can knock out a modest house in a few months. Do most guys day jobs have a high enough salary to pay off a house in under a year? Probably not, but building it yourself can save hundreds of thousands...

Either of these are better options IMO than getting involved in apartments, because as we saw with the coof lockdowns and such, most landlords don't care about rights. Much more ideal to have your own piece of land some distance from town or city proper...

 

[Thomas More]

Edit: this got a laugh emoticon from Elon,, so now a lot of people will be looking to buy into the first US state to secede!

 

[Seng Hock]

Agree with Pointy Elbows and Magoo, owning your own business is the way to go.

The endgame of owning a business is infinite. You know rich people like Donald Trump, Elon Musk, Huang Jen Hsun? There is a common theme here, they owned their own business and developed it maximally. In my country the top 50 richest people are also business owners, not a single one of them work as a corporate worker or employee. Observe that in all kinds of business, the richest person in the organization is always the owner. I have never seen an employee become rich as a sheikh like a business owner would. Sure by working at a stable job you will eventually afford a car, a house, vacation packages and of course providing for your family. But as men we should always strive for the best.

But be wary that running a business is a high risk - high reward endeavor. You can potentially earn lots of money, but also potentially suffers huge losses. Unlike being an employee which the worst thing that can happen is get laid off and having a zero income, when you own a business you can potentially incurs heavy debt or uncollectible receivables.

For people who are just starting their own business, I second Magoo's post that you should start in a service business to save costs. In my case in a few months I will start my own accounting practice with my pals. We planned to invest capital using only 600 USD, and even then the starting capital will be used to rent cheap flat as a legal requirement to use as office. Other equipment such as computers, printers, papers are already owned by us so no need to buy new.

I also agree that investing in yourself and upgrading your skills is a good way to go. Let me share my personal experience, I have spend considerable time and expense in getting a professional degree (above bachelors but below masters), and Chartered Accountant certification. Yes at first it is painful to lose a large amount of money (the money I've spent for these can buy at least one entry level sports bike) and time to study. But after years its beginning to pay off. In fact the accounting practice that I will start is only made possible by my CA certification. Not only that my CA also makes me eligible to apply for ASEAN CPA (as a pathway to work in other Southeast Asian countries) and apply for recognition of prior learnings program to get CPA (a license to sign audit report and start public accounting practice).

Whatever you do keep improving yourself. Learn an in demand language, get involved in social events to expand your network, and maintain your existing networks/friend, it will be useful in some ways. And keep lifting, by being physically strong you will be confident and get respect from other people, others will listen to you more.

Controversial opinion, try to learn from the Chinese people in your country (every country in Earth will somehow have their own Chinese diaspora) in regards to money making, study them carefully. Watch what they do, how they conduct business, how they develop ideas, how they maintain customers, how they identify money making potentials, how they live so frugally and reinvest their money in the correct direction. Absorb what is useful from them, the Chinese are called the Chews of the East for good reasons.

Lastly to address OP's questions with regards to Christian approach to money making, I say don't worry about it and think positively. By making so much money we will be able to donate generously to our church and people in need. Case in point the land that my parish is constructed upon is donated from the personal land of a very wealthy family, then the parish's building is constructed by using that same rich family's funds. How can we become a donors like that if we lack money?

EDIT:
Forgot to add, owning your own business even a small one will eventually be more profitable than being a corporate worker:

• I know a man who sells his homemade fried chicken and fried fish, and the proceeds from his business are able to buy an economy car and a house. Most of my friends and me who works in an office are still not able to buy a car and still live with parents.
• A man with only middle school education has his own small scale poultry farm. Every month his farm is able to generate profits around 1.800 USD. That's the income level of most middle level managers.
• A man who works as a field operator in a company, each month he receives minimum wage salary which amounted to 275 USD. But he runs his own motorbike repair shop with his brother with profits around 730 USD a month. So his side business ends up more profitable than his main career.