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If my primary goal in life right now is to simply enjoy luxury, I'm going to need money. The most expensive thing I desire is an Aston Martin. It sounds silly--and a lot of people called me childish for it--but that car is something I want badly. I cannot stress it enough that I want to earn my money properly and legitimately as a person with integrity would. However, I don't know many ways to earn such money of the proportion in which I seek to aquire. The typical job a person my age would get is a bottom-of-the-line, minimum-wage job, and the hard workers will work their way up and make more. I don't want to wait for that. I want to make the money now. I want to enjoy a luxuious lifestyle now. My best guess is to play the stock market, but I don't know who to go to to hop onto the best investments. Can anyone on this site help me?

asked Jan 31 '13 at 13:42

Collin1's gravatar image

Collin1
2081538

Go get a degree in computer science. Then work at a tech company for a few years. Then create a start-up company. Here's an idea for a good start-up company. Create a system that will allow people to create events. For example: An event may be to bring in a high profile speaker. Since the speaker will have to be paid and there is a cost for the venue, you will want to charge the event participants. Instead of taking the risk of putting out money up-front to fund the event, have people buy into the event in advance. If sufficient people show up, launch the event. If not, cancel it and

(Jan 31 '13 at 20:41) Humbug Humbug's gravatar image

give people their money back. No loss to anybody involved.

(Jan 31 '13 at 20:42) Humbug Humbug's gravatar image

Is that what you do? If not, what do you do? Do you enjoy your job?

(Jan 31 '13 at 21:12) Collin1 Collin1's gravatar image

Hah! Great idea, Humbug -- that's exactly what I've done, including everything from getting that degree and spending years in a tech company, to (starting with developing) precisely that service. ;^)

(Jan 31 '13 at 23:10) Greg Perkins ♦♦ Greg%20Perkins's gravatar image

I know Greg. LinkedIn is a great tool for us stalkers. ;)

Colin1. I did something similar. I got a CS degree. Worked for a few years. Started a company 12 years ago and have been quite happy with that decision.

HOWEVER: While money was a very important goal for me, it was secondary. Building something was primary. If you make making money your primary purpose, there's a risk that you will keep changing your mind whenever a new "easier" idea comes by and you won't really make any actual progress on any idea.

(Jan 31 '13 at 23:42) Humbug Humbug's gravatar image

[chuckle] Got me, Humbug -- I thought that was a pretty amazing coincidence. :^)

(Feb 01 '13 at 01:07) Greg Perkins ♦♦ Greg%20Perkins's gravatar image

I am well aware that making money should be a secondary goal for myself. Do I wish to lead a productive life? Absolutely. But how? If I could have it my way, I'd spend as much money as I could safely use on writing and directing my own feature films. I'd take the risk of trying to make it big in Hollywood--if I had money. You see what I mean? Making money is almost as much an end as a means to an end. That's why I'm asking this here. I'm also always catching myself saying "I want this" and "I want that," so I'm going to need a lot of money to satisfy those wants.

(Feb 01 '13 at 11:25) Collin1 Collin1's gravatar image

Getting a degree in computer science takes time--and money. I don't have the money for that. Having a part-time job doesn't pay enough and a full-time job would leave no time to actually get the degree. I don't even know how to start a company. I don't want to have to wait a few years to make money. I want to make it now. In this country today, especially if you live in New York as I do, you can feel it in the air that your not free. Instead, your "free". I can do what I want, of course, but there is always this presence in the air that you don't belong to yourself.

(Feb 01 '13 at 11:35) Collin1 Collin1's gravatar image

To be as honest as possible, my goal is to make as much money as possible so I can escape from where I live. You don't know how badly I want to get out of New York. It's so cold here--both literally and figuartively. I need money to be independent, but I can't make enough money to be independent. My brother quite correctly said that the government wants people to just get by financially, but never enough to get ahead. I don't care how I make this money, but it's certainly a means to an end--and my end is to get out. I think about Texas a lot, or even another country like New Zealand.

(Feb 01 '13 at 11:44) Collin1 Collin1's gravatar image

It's crazy to talk about, but it's something I'd do in a heartbeat if I could. This country is going down, and I don't want to be here when it happens.

(Feb 01 '13 at 11:45) Collin1 Collin1's gravatar image

http://money.cnn.com/galleries/2011/pf/1110/gallery.America_boomtown_salary/index.html

(Feb 02 '13 at 01:26) Humbug Humbug's gravatar image
showing 2 of 11 show all

The question states: "If my primary goal in life right now is to simply enjoy luxury, I'm going to need money." The question goes on to affirm this goal. In my judgment, that makes the questioner a "third generation" type, referring to a saying that Ayn Rand mentioned in CUI, Chapter 11 ("Capitalism"):

In a capitalist system, a producer can do with his wealth what he chooses.... He can bleed himself dry by a course of self-sacrifice.... The most eloquent example of this last is the playboy in a free country who inherits a fortune; he does not keep it long. "From shirtsleeves to shirtsleeves in three generations," Americans used to say at the turn of the [20th] century. If a poor man rose to wealth, then left his money to worthless heirs, his grandson was back on the street without a suit to his name. Project how widespread this phenomenon had to be to give rise to a popular aphorism....

Most "first generation" types didn't get rich quickly and didn't pursue luxury for its own sake. For them, great wealth is usually something that happens as a byproduct of what the producers love doing. They often labor doggedly in great modesty and even poverty, and it may take them a long time to get used to being wealthy and to spend it for personal luxuries, if they become highly wealthy at all.

answered Feb 02 '13 at 20:04

Ideas%20for%20Life's gravatar image

Ideas for Life ♦
451215

I should have expressed that "$100,000" was more of a hypothetical sum of money. By quoting Ayn Rand's little monologue, you're implying that I'd act like a Playboy and and waste my money until there was none left. You're wrong. I am responsible with my money. I don't enjoy going to those types of parties and promiscuity is not a part of my character. I'd use that money to invest and grow my wealth, while at the same time satisfy my wants and desires. I just wish there was a faster way of making money. I never seem to be able to afford what I really want.

(Feb 03 '13 at 21:41) Collin1 Collin1's gravatar image

My natural answer to myself is to work more, but there isn't enough time in relation to the time occupied by college.

(Feb 03 '13 at 21:43) Collin1 Collin1's gravatar image

While this isn't actually a question about Objectivism, the best advice I've heard in this regard is to get involved in a job where you're no longer trading your time for money. Once you get to the point where you make money all the time no matter what you're spending your time on, you can start increasing your income by multiples every year instead of incremental increases in a salary.

I'm not an expert on such things (finding that my preferred occupation is still a time-for-dollars kind), but here are a few ideas:

  • Develop a business whereby you organize the activities of others (e.g., manage a company which provides contractors)
  • Write a book, blog, popular website, etc. which produces profits whether you're working on it or not
  • Get involved in the financial industry: people in that industry are often paid a percentage of profits rather than merely for their time

While I haven't read it, I this line of thinking is explained most fully in the book: The Four Hour Work Week

answered Feb 04 '13 at 00:27

Andrew%20Miner's gravatar image

Andrew Miner ♦
976215

Getting involved in the financial industry is something I seriously want to get involved in. While I will in the long run get involved in buying and selling stocks, I would like to start making money that way now. But I don't know which investments to make. I don't even know how to buy stocks.

(Feb 04 '13 at 08:01) Collin1 Collin1's gravatar image

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Asked: Jan 31 '13 at 13:42

Seen: 3,396 times

Last updated: Apr 26 '13 at 23:41