<p>Don't work for someone else. Very few can ever get rich off of salary.</p>
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$125,000 per year, bonuses included, is entirely not unheard of
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True, but when you consider living expenses in NYC, taxes, and two years off work and a $150k tuition bill for business school, most won't make it to the million mark before thirty, but do come pretty damn close.</p>
<p>The OP had two standards for "filthy rich". Having a million by age 30, as you point out, is substantially difficult. Earning a million by age 30 is not so much.</p>
<p>lol..I do disagree with the person who said top drug dealers only make 500k, thats utterly ridiculous. Pablo Escobar for instance was making a 1 million a day in the 80s and early 90s. The Felix brothers of the early 2000s were estimated at what? 6 billion dollars each. It wouldn't suprise me if the real richest man in the world was a drug dealer. </p>
<p>Also becoming a millionaire by 30 is still nearly impossible. Becoming a millioniare by 50 now that is extremely feasible depending on how thrifty you are.</p>
<p>mssales - read Freakonomics. There were actual studies based on (believe it or not) legitimate bookkeeping done on behalf of a chicago crack gang. The overall point was that the guys on the street, the ones getting attacked by crackheads and arrested by cops, were making about $3.25 per hour (in 1985 dollars). The local leader of the gang was a tremendous businessman, who was making about $100k, and was getting an offer to join the national syndicate board, whose members made about $500k (but who frequently spent time in jail). But it was a huge pyramid and a very small number at the top.</p>
<p>denzera mentioned that professionals (doctors, lawyers) make enough to have a happy upper middle class lifestyle. i'm going to be realistic and say that i probably won't make a million a year, although it certainly is an ambition of mine. hypothetical situation: i am faced with the choice of going into medicine, or going into finance. which is the better option, from a purely economic standpoint?</p>
<p>"Also becoming a millionaire by 30 is still nearly impossible."</p>
<p>Not really, although I would say that 35 is a much more reasonable goal.</p>
<p>"It wouldn't suprise me if the real richest man in the world was a drug dealer. "</p>
<p>That's because u are clueless.</p>
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hypothetical situation: i am faced with the choice of going into medicine, or going into finance. which is the better option, from a purely economic standpoint?
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</p>
<p>Finance, because medicine and purely economic don't mix.</p>
<p>How to become rich or filthy rich?? By becoming good in your own field, enjoy at what you do, save and invest. Little by little as you do your time, your bank account and net worth will show.</p>
<p>you do not need an enormous fortune to invest and make money. But you have to be good</p>
<p>If i actually had 25k to invest and considering the last 3 years worth of my virtual investing, i would have 143,380 dollars. Given i turned 21 a few months ago, and given i would be able to replicate this for the next 8 or so years, i could easily hit 1 million. The fact that this is virtual money means nothing since my small effect on the market would mean nothing. This year alone i have hit 113% return and we are barely reaching july. I have helped my mother accumulate 53.6% this year versus her 20 odd% return last year. She has since pulled out 80% other holdings since she surpassed her target by over 100k. The more she makes, the more can be passed on to me and my eventual children/wife. It should be encouraging that a single mother making in the high 80k with bonus can amass around 3.5 million by 60 (she does not yet own a house though) By 24 i should actually have 25k available, so we shall see what happens then.</p>
<p>^^ HOw did you learn about the stockmarket, books?? what else. I"m 16 and i wanna learn more about the stockmarket, i have around 10,000 and if i invest it wisley i could buy me a really nice car when i'm done with college, or pay couple years of college.</p>
<p>i have been playing with this on and off for 11 years</p>
<p>Warren Buffett started investing when he was 11. When asked about that, he said "I got started late".</p>
<p>You don't need a fortune to start learning how to invest. It just isn't going to result in you making a fortune until later in life. But it can help you with security, and with a comfort level with your finances that many adults out there don't have.</p>
<p>"Pablo Emilio Escobar Gaviria. (December 1, 1949 – December 2, 1993) gained world infamy as a Colombian drug dealer. Escobar became so wealthy in the drug trade that in 1989 Forbes magazine had listed him as the SEVENTH richest man in the WORLD. He is widely considered to be one of the most brutally ruthless, ambitious, and powerful drug dealers in history."</p>
<p>Thats just the known drug dealer, just think about the ones, that no one knows about.</p>
<p>"If i actually had 25k to invest and considering the last 3 years worth of my virtual investing, i would have 143,380 dollars. Given i turned 21 a few months ago, and given i would be able to replicate this for the next 8 or so years, i could easily hit 1 million. The fact that this is virtual money means nothing since my small effect on the market would mean nothing. This year alone i have hit 113% return and we are barely reaching july. I have helped my mother accumulate 53.6% this year versus her 20 odd% return last year. She has since pulled out 80% other holdings since she surpassed her target by over 100k. The more she makes, the more can be passed on to me and my eventual children/wife. It should be encouraging that a single mother making in the high 80k with bonus can amass around 3.5 million by 60 (she does not yet own a house though) By 24 i should actually have 25k available, so we shall see what happens then."</p>
<p>I still say the best bet is investment in the long haul trying to get rich by 30 requires a signifcant risk, which I'm not willing to take.</p>
<p>there is no return (above 5% per year) without risk. success in life is about managing risk, and choosing returns such that you can handle the risk.</p>
<p>if you r getting such a return such as 113% and don't have money y don't u get loan from parents or bank since u have such high return rate, you will be able to pay back loan in one year</p>
<p>Denzera, but your elevating the risk to a dangerously high level.</p>
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if you r getting such a return such as 113% and don't have money y don't u get loan from parents or bank since u have such high return rate, you will be able to pay back loan in one year
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</p>
<p>The only real money i have used has been my own and that is scary enough. When using fake money, i am not concerned, so i can take big risks. Using actual money is scary, using borrowed money is scarier. </p>
<p>The positions i take with fake money are very speculative. So in essence i am to scared to do this with borrowed money. When i have a steady stream of decent income and i can put money aside that i can afford to loose, then yes i will test my strategies out. Thus far, i have closed all my real positions and dumped them into my roth ira and savings account</p>