Recently, I’ve been talking about how to make money in property development, but that’s not the only way to make money … it’s not even the BEST way to make money.
So, what IS the best way to make money?
For that, we need to refer back to Michael Masterson’s table from his book, 7 years to 7 figures [AJC: That’s nowhere near $7 million in 7 years, but it’ll have to do 😉 ]:
Required Compound Investments
Growth Rate Required
4% CD’s
8% Index Funds
15% Stocks
30% Real-Estate together with Stocks
45% Real-Estate together with Stocks and Small Businesses
50%+ Start Your Own Business
… from this, it’s clear that starting your business is the way to go IF it’s the Big Bucks that you are after.
But, you don’t have to start off big to end up making it big: I had no idea that I was going to end up with $7 million in 7 years when I started my business (in fact, it was only until a few years AFTER I started the business that I found my Life’s Purpose, hence my Number) … just take it from Pierre Omidyar, the billionaire-founder of eBay:
I started eBay as an experiment, as a side hobby basically, while I had my day job
– It’s what my son is doing with his eBay business (and, now with his New Online Venture … which I’ll share, once he gets it off the ground)
– It’s what my Web 2.0 partners did with our first venture (they’ve since left their full-time jobs to start their own software consulting/development company)
And, it’s what YOU should do, if you want to start a business with the least amount of risk!
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Hm.. getting cash without a job has always on the occasion been so difficult; a lot of times I get some information and make money from those. But they get really expensive! Trying to make money without any sort of job experience is even harder. A lot of things are just unprofitable, but this post actually taught me a lot. Thank you! 🙂