how do your or acquaintances make HUGE $?
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Joined: Oct 2000
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From: Nashville
how do your or acquaintances make HUGE $?
since we are talking about big $ and how to be a millionaire (by eating toaster crumbs and not washing your underwear............)
Everyone seems to know somoene who is making KILLER $..... post how!
A local "NURSE Temp Agency" branch in our area was purchased for ~$200k about 10 years ago..... the new owners were a restuarant manager and a nurse (husband and wife)... somehow they took a floundering company and made it all work.... about 5 years ago they were netting near $3m per year.... then they bought out the franchise which should have really increased their annual net income...... plus in the past 5 years I am sure they have grown even bigger.... So... I would guess they make $5M a year by now.... NET! Pretty sweet. They don't really work all that hard since they have a great staff that does most of the day to day work.
Everyone seems to know somoene who is making KILLER $..... post how!
A local "NURSE Temp Agency" branch in our area was purchased for ~$200k about 10 years ago..... the new owners were a restuarant manager and a nurse (husband and wife)... somehow they took a floundering company and made it all work.... about 5 years ago they were netting near $3m per year.... then they bought out the franchise which should have really increased their annual net income...... plus in the past 5 years I am sure they have grown even bigger.... So... I would guess they make $5M a year by now.... NET! Pretty sweet. They don't really work all that hard since they have a great staff that does most of the day to day work.
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From: La Habra
My close "rich" friends all got into software companies early, at VP-level, and picked the right horse. Their stock options quickly went past the AMT limit and they managed to diversify before their stock fell on any hard times.
One group of friends founded a used-to-be-popular gaming web site. They sold it, maybe a decade ago, for over $5M but I don't think they got full payment even today. And they nearly went bankrupt in server costs when they still owned it themselves.
None of my close friends are ultra-rich but retiring to a house on Maui in the "right elevation" for year-round comfort in your early 40's is rich enough to me! They also paid for several week-long live-aboard dive trips (renting the whole boat & crew for a party of ten). I recall those cost about $20K a pop!
One group of friends founded a used-to-be-popular gaming web site. They sold it, maybe a decade ago, for over $5M but I don't think they got full payment even today. And they nearly went bankrupt in server costs when they still owned it themselves.
None of my close friends are ultra-rich but retiring to a house on Maui in the "right elevation" for year-round comfort in your early 40's is rich enough to me! They also paid for several week-long live-aboard dive trips (renting the whole boat & crew for a party of ten). I recall those cost about $20K a pop!
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From: Albuquerque, NM
my girlfriends dad
they have an autoshop and he is a wholesaler and he makes pretty good money they just bought a new shop with a bigger lot so they can sell cars there also which i will be doing on the weekends! and there old building there going to rent out.
not millions but damn good money!
they have an autoshop and he is a wholesaler and he makes pretty good money they just bought a new shop with a bigger lot so they can sell cars there also which i will be doing on the weekends! and there old building there going to rent out.
not millions but damn good money!
Joined: Mar 2002
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From: Doh!!
Originally Posted by kntrider,Jan 22 2007, 02:35 PM
I don't know anyone making millions.
But I do know quite a few people making well into the 100-300k range which I consider big $.
All businesses not a single corporate slave.
But I do know quite a few people making well into the 100-300k range which I consider big $.
All businesses not a single corporate slave.
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From: Under Construction
alot of my professors that are teaching/mentoring me in my current degree are millionaires plus a few friends of my dad make a few million as well so i guess i know more than a handful of millionaires
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From: SJC
The recipe of my friend (and former piano student):
1. Go to grad school.
2. Do well in grad school; get the attention of your advising Prof.
3. Have advising prof take you and 4 other grad students into gainful employment at a computer startup.
4. Have said company get bought out to the tune of $70M divided by 6 guys (said prof getting the lion's share, but you get the second biggest chunk).
5. Feeling that the price wasn't exactly what you wanted, negotiate for more stock from the acquiring company in the buy-out deal.
6. Wait for acquiring company's stock to hit $300+
7. Sell.
8. Diversify your cash-ola like mad, including buying Cisco, Yahoo, and Google when it was low. Use some muni-bonds to get you steady tax-free income on the backside as well.
9. Call your former piano teacher to test drive your 997TT; offer to sell RS6 back to piano teacher because you've run out of space.
10. Wait for former piano teacher to state that he can't afford it used either.
1. Go to grad school.
2. Do well in grad school; get the attention of your advising Prof.
3. Have advising prof take you and 4 other grad students into gainful employment at a computer startup.
4. Have said company get bought out to the tune of $70M divided by 6 guys (said prof getting the lion's share, but you get the second biggest chunk).
5. Feeling that the price wasn't exactly what you wanted, negotiate for more stock from the acquiring company in the buy-out deal.
6. Wait for acquiring company's stock to hit $300+
7. Sell.
8. Diversify your cash-ola like mad, including buying Cisco, Yahoo, and Google when it was low. Use some muni-bonds to get you steady tax-free income on the backside as well.
9. Call your former piano teacher to test drive your 997TT; offer to sell RS6 back to piano teacher because you've run out of space.
10. Wait for former piano teacher to state that he can't afford it used either.
Joined: Apr 2004
Posts: 2,897
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From: Cherry Hill, NJ
Originally Posted by 8D_In_Trunk,Jan 22 2007, 08:09 PM
The recipe of my friend (and former piano student):
1. Go to grad school.
2. Do well in grad school; get the attention of your advising Prof.
3. Have advising prof take you and 4 other grad students into gainful employment at a computer startup.
4. Have said company get bought out to the tune of $70M divided by 6 guys (said prof getting the lion's share, but you get the second biggest chunk).
5. Feeling that the price wasn't exactly what you wanted, negotiate for more stock from the acquiring company in the buy-out deal.
6. Wait for acquiring company's stock to hit $300+
7. Sell.
8. Diversify your cash-ola like mad, including buying Cisco, Yahoo, and Google when it was low. Use some muni-bonds to get you steady tax-free income on the backside as well.
9. Call your former piano teacher to test drive your 997TT; offer to sell RS6 back to piano teacher because you've run out of space.
10. Wait for former piano teacher to state that he can't afford it used either.
1. Go to grad school.
2. Do well in grad school; get the attention of your advising Prof.
3. Have advising prof take you and 4 other grad students into gainful employment at a computer startup.
4. Have said company get bought out to the tune of $70M divided by 6 guys (said prof getting the lion's share, but you get the second biggest chunk).
5. Feeling that the price wasn't exactly what you wanted, negotiate for more stock from the acquiring company in the buy-out deal.
6. Wait for acquiring company's stock to hit $300+
7. Sell.
8. Diversify your cash-ola like mad, including buying Cisco, Yahoo, and Google when it was low. Use some muni-bonds to get you steady tax-free income on the backside as well.
9. Call your former piano teacher to test drive your 997TT; offer to sell RS6 back to piano teacher because you've run out of space.
10. Wait for former piano teacher to state that he can't afford it used either.