If you had to become a millionnaire in 5 years what would you do? - Business, Finances and Investing Forum

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If you had to become a millionnaire in 5 years what would you do?

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06-25-2016 , 10:35 PM

#1

esspoker

old hand

Join Date: Jan 2013 Posts: 1,630

Say a guy was holding your mother in a basement and said if you're not a millionnaire in 5 years, I'm going to rape her hard in the ass and then kill her, what would you do? (sorry for the images there)

Defining millionnaire as liquid cash million in bank. And sorry I can't spell millionnaire to save my life (or my poor mother's).

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06-25-2016 , 11:44 PM

#2

rwillia789

adept

Join Date: Mar 2010 Posts: 927

smuggle drugs obviously

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06-26-2016 , 12:51 AM

#3

FloppedAMonsta

centurion

Join Date: May 2015 Posts: 125

Tell him your mom has AIDS, thereby lowering the effective value of the remaining years of her life and deterring him from carrying out on the bum ravaging. Then you lowball him and call the cops to arrest him at the money drop point.

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06-26-2016 , 01:03 AM

#4

ToothSayer

Carpal \'Tunnel

Join Date: Jul 2015 Posts: 13,237

Derivatives trading is by far your best shot if you're very intelligent, disciplined and flexible. It's ultra low probability though if you're not.

If that doesn't apply, second best bet is to start a business that has the potential to scale. Buying stuff and selling it for more is the easiest, but there are lots of niches you can get into that will give you great profit and grow. I think with hard work and entrepreneurial ability, a million dollars in five years is quite doable.

Third best is obviously something illegal. I think it's lower probability than the business though, for a million.

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06-26-2016 , 04:56 AM

#5

heltok

old hand

Join Date: May 2012 Posts: 1,695

Gamble: Invest in Ethereum
Work: Study machine learning, take a job at some startup in Silicon Valley, work my ass off, live in trailer.

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06-26-2016 , 07:09 AM

#6

maxtower

Carpal \'Tunnel

Join Date: Sep 2005 Posts: 7,996

I'd work my ass off for the first week. After that I'd tell mom I'm sorry and go back to my normal lazy routine.

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06-26-2016 , 07:31 AM

#7

SootedPowa

Pooh-Bah

Join Date: Jun 2013 Posts: 3,837

Change my money to Japanese yen, job done.

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06-26-2016 , 07:33 AM

#8

BoredSocial

Pooh-Bah

Join Date: Mar 2009 Posts: 5,019

5 years I'd immediately start a business, whichever business I knew the most about today.

5 months I'd start robbing banks.

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06-26-2016 , 01:35 PM

#9

cookies4u

grinder

Join Date: Aug 2014 Posts: 467

if it's $1 million or bust and assuming no particular job skills/qualifications, get a job as an oil rig worker (i know oil prices are down but it can still pay a lot for an unskilled labor job). sleep in a homeless shelter or on the streets, don't pay taxes and hope i don't get caught. Net $80k/year, towards the end with ~$400k find a major sporting event that pays around 2.5:1 and unload. i don't know how hard it is to get that kind of money down, but i assume it's possible for bigger events using all your outs. dunno if it'd be possible without getting taxes from winnings withheld so maybe need a little worse (better) odds than that.

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Originally Posted by maxtower

I'd work my ass off for the first week. After that I'd tell mom I'm sorry and go back to my normal lazy routine.

LOL

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06-26-2016 , 03:08 PM

#10

ff2017

centurion

Join Date: Jul 2010 Posts: 199

Quote:

Originally Posted by ToothSayer

Derivatives trading is by far your best shot if you're very intelligent, disciplined and flexible. It's ultra low probability though if you're not.

This.

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06-26-2016 , 03:24 PM

#11

xplosiVxx

journeyman

Join Date: Nov 2014 Posts: 232

Quote:

Originally Posted by FloppedAMonsta

Tell him your mom has AIDS, thereby lowering the effective value of the remaining years of her life and deterring him from carrying out on the bum ravaging. Then you lowball him and call the cops to arrest him at the money drop point.

this + write a book for your mom and make money off her experience.

if we mean legally and ralistically, that depends on the skills and assets you have already..

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06-26-2016 , 08:32 PM

#12

turtletom

old hand

Join Date: Aug 2015 Posts: 1,749

Plastics.

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06-26-2016 , 09:26 PM

#13

Baltimore Jones

Pooh-Bah

Join Date: Apr 2007 Posts: 5,835

Quote:

Originally Posted by ToothSayer

Derivatives trading is by far your best shot if you're very intelligent, disciplined and flexible. It's ultra low probability though if you're not.

Any good resources on this?

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06-26-2016 , 09:46 PM

#14

ToothSayer

Carpal \'Tunnel

Join Date: Jul 2015 Posts: 13,237

No one's going to teach you how to make lots of money.

If you have to ask for "resources" on this, you are incapable of doing well at it. Big edges are derived from looking at systems from first principles, not from doing what everyone else is doing. If that's not immediately obviously to you, you lack the intuitive intelligence to generate large alpha.

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06-26-2016 , 11:37 PM

#15

steelhouse

banned

Join Date: Feb 2007 Posts: 6,109

I would start a cryptocurrency and try to get about 20 people to spam it. It is still early in the game and there are many flaws to bitcoin and ether. This probably would have a 95% chance of succeeding and might cost $1000.

Option 2 might be start a solar farm. 1 square mile of solar is about $5000 per hour.

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06-27-2016 , 01:03 AM

#16

wil318466

banned

Join Date: Mar 2010 Posts: 19,154

Met a guy 2 months ago at Philadelphia international airport, we were waiting for a hotel shuttle bus that was taking forever. Struck up a conversation, he said he flies through phl once a month. Turned into a "why the hell do you fly here once a month" conversation. He was a oil rig worker. Schedule was 1 month on 1 month off. 250k salary.

Sounded awful. But he was single, and he said the money was just too good.

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06-27-2016 , 03:21 AM

#17

CBorders

Carpal \'Tunnel

Join Date: Feb 2008 Posts: 16,500

Would you spend five years alone in a basement with your mother for a million dollars?

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06-27-2016 , 05:29 AM

#18

Bulrathi

centurion

Join Date: Nov 2014 Posts: 182

One of the best ways is to risk your credit rating. Borrow lots of money from banks, places like Lending Club, anyone who will finance you. Then risk it all either in a business or in markets.

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06-27-2016 , 01:33 PM

#19

Abbaddabba

Pooh-Bah

Join Date: Jul 2005 Posts: 5,807

Quote:

Originally Posted by wil318466

Met a guy 2 months ago at Philadelphia international airport, we were waiting for a hotel shuttle bus that was taking forever. Struck up a conversation, he said he flies through phl once a month. Turned into a "why the hell do you fly here once a month" conversation. He was a oil rig worker. Schedule was 1 month on 1 month off. 250k salary.

Sounded awful. But he was single, and he said the money was just too good.

Wouldn't be enough after taxes though, and he probably didn't get into that pay bracket right off the bat. If you have to work 2 years at 65-80k/y you'll be too far behind pace to make it in 5.

If you're working within a 5 year window with no prior experience you'd probably have to pile on significantly more risk and start working jobs like you'd see on worlds deadliest catch cramming as many jobs as you can while in season, and then finding other high risk / high pay jobs during down time... even then it's doubtful you'd hit the mark.

Entrepreneurship is the only realistic path for people without unusual skills/aptitudes.

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06-27-2016 , 08:33 PM

#20

krunic

Carpal \'Tunnel

Join Date: Sep 2013 Posts: 6,247

I'd tell the guy there's no way I'll have a mil in 5 years but I'll give you all the money I have to kill the bitch right now. Then I'll breathe a deep sigh of relief that that ****ing **** is gone forever.

Spoiler:

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06-27-2016 , 08:47 PM

#21

wil318466

banned

Join Date: Mar 2010 Posts: 19,154

Quote:

Originally Posted by Abbaddabba

Wouldn't be enough after taxes though, and he probably didn't get into that pay bracket right off the bat. If you have to work 2 years at 65-80k/y you'll be too far behind pace to make it in 5.

If you're working within a 5 year window with no prior experience you'd probably have to pile on significantly more risk and start working jobs like you'd see on worlds deadliest catch cramming as many jobs as you can while in season, and then finding other high risk / high pay jobs during down time... even then it's doubtful you'd hit the mark.

Entrepreneurship is the only realistic path for people without unusual skills/aptitudes.

Agreed well said

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06-27-2016 , 09:30 PM

#22

Guy Incognito

old hand

Join Date: Jan 2005 Posts: 1,913

Quote:

Originally Posted by Abbaddabba

Wouldn't be enough after taxes though, and he probably didn't get into that pay bracket right off the bat. If you have to work 2 years at 65-80k/y you'll be too far behind pace to make it in 5.
.

He said it's one month on, one month off. What if he worked on 2 oil rigs?

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06-28-2016 , 02:52 AM

#23

Abbaddabba

Pooh-Bah

Join Date: Jul 2005 Posts: 5,807

If that's what it paid off the bat, sure. Let me know if you find a company willing to pay you the equivalent of 500k/y starting salary without any skills.

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06-28-2016 , 03:17 AM

#24

OlafTheSnowman

journeyman

Join Date: May 2014 Posts: 373

Bang five fat chicks per day for $110 each. Or one really fat chick per day for $550 each. Puts you at $1,003,750 after five years.

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06-28-2016 , 03:32 AM

#25

ToothSayer

Carpal \'Tunnel

Join Date: Jul 2015 Posts: 13,237

^I love that you spent time calculating that.

You're not going to do this on salary. Between taxes and the first year or two on low salary while you learn, you've got no chance.

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