crystal
how to make easy money
#business #money #financial-planning
5 answers
Roger Hancock
Roger’s Answer
How to make easy money ?
Invest in the stock market at an early age by buying index funds like the S&P 500 or Dow Jones 30 and watch the money grow.
I did. And, I have made money easily by being invested in the stock market for over 30 years.
If you invest $1,000 now, in 30 years (depending on your rate of return) you could have a substantial amount of money with a one-time $1000 initial investment.
At 5% return, $1000 would become $4321
At 7% return, $1000 would become $7612
At 8% return, $1000 would become $10,062
At 10% return, $1000 would become $17,449.
Once you land a full-time job, I suggest investing $1000 a month (or more.) After a 30-year period, thanks to compound returns, you will have $1,862,000… nearly $2 million dollars.
Serah Delaini
Serah’s Answer
What comes easy to you? Figure this out first. Then look for people or organizations who want to pay you to use these talents.
For example, if you know someone who doesn't cook for themselves, you can ask them what is blocking them from doing so. Do they want to learn, or do they just need to eat? Some quick business ideas might be to: A) teach them how to shop for the right ingredients, B) teach them to cook some favorite foods, C) cook and freeze meals for them once a week, D) shop for them, E) pick up takeout meals for them, F) help them find a cooking class, G) help them find a cooking buddy...
Or, if you would like to work for someone else, you can earn the easy money of a paycheck.
Serah recommends the following next steps:
There is no "EASY MONEY" we got to work hard for it and it takes time for it to build it up at first it will be a small amount but as time goes by it will build up especially if you save it.
andres
Derek Nelson
Derek’s Answer
Take high school and college a lot more seriously than I did. I chose to enjoy my childhood and young adult years. When I barely graduated I had to take odd jobs barely making ends meet. Sent out 100's of resumes just to get 1 interview and 0 jobs. Kept at it taking anything I could get. After getting 4-5 low level jobs and working harder than anyone else in the roles, people started to notice me and I finally got to a decent career when I was around 27. Had I just tried harder in school that all could have started at age 22-23 ish. You can see in the other answers how investing early compounds, this is as true with your investment into your career as it is with your money. Then by easy money, I mean keep working 10+ hours days and trying to be the best you can be at whatever you do, no matter what is going on around you.
Derek recommends the following next steps:
Brian Fady
Brian’s Answer
I like Rogers answer, a lot.
Another, all together different way to think about it... get to know what your strengths (skills, abilities) are. You may have a budding sense of that today, but don't be surprised if it takes a little time and a few different jobs to really experience and pinpoint the difference.
When you have a role that you are using skills that are a fair match for, it feels like effort and probably produces fair or decent results.
On the other hand, when the role counts heavily on things that are natural talents and strengths, to you, that work feels effortless AND the results and impact will be great.
That's not to say there isn't reward and growth by learning new things. Just saying when you are in your element, it can feel pretty easy, enjoyable and can be very rewarding to your earning potential.
Brian recommends the following next steps:
saurabh shrivastava
saurabh’s Answer
2. start saving as early as possible, even a small amount saved regularly can give big returns (power of compounding) in future. As Roger suggested, consider stock market for some part of investments.
3. try to avoid any type of loan as long as you can.
4. work for money and then make your money work for you, think about passive income.