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/biz/ - Business & Finance

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231466 No.231466[DELETED]  [Reply] [Original]

I only have 600 dollars. Whats the best plan to grow it in to a fortune so I can retire and live off dividends?

>> No.231470

>>231466

Buy and resell things off of craigslist until you have enough money to start a small business like a burger shack, hot dog stand or whatever. From there it's just saving like crazy.

Or you know, go to fucking school, get a degree in something that isn't shit and get a real job.

>> No.231477
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231477

>>231466
>I only have 600 dollars
>Whats the best plan to grow it in to a fortune so I can retire and live off dividends?

>> No.231485

>>231466

>Invest in a diversified dividend ETF like SDY
>Reinvest dividends
>Wait 300 years
>Retire with $4 million

>> No.231529

Buy orgcoin before it goes on coinmarketcap and people see how rare it is

>> No.231536

>>231529
Is there a bitcointalk thread?

>> No.231571

>>231536
https://bitcointalk.org/index.php?topic=415705.0

Everything about this coin is weird but the devs seem to be competent enough for the long run

>> No.231929

>>231466

Invest in fucking off or just fuck off
Profit: priceless

>> No.231931

the best resource that you have to generate wealth is yourself. it would take 100 years to turn 600 dollars into any meaningful amount of money

get a STEM degree and work your ass off

>> No.231947

>>231466

buy and hold food&beverages and utilities stocks with dividends reinvested

>> No.231969

In the Same Situation as op, but hör around 12k EUR

Problem is that i have no idea where to start at all
And i dont want a make me rich Plan, but an idea ob where to Start, like literature, a website, doesnt matter

Sorry for grammar, using a German phone with autocorrect

>> No.231973

Buy LTC

>> No.231978

>>231969
1. Open concentration camp... I mean... a startup.
2. Hire taleneted (Jewish) software developers
Profit?

>> No.232008

>>231978
Thats exactly what i thought about but as i said, i have no idea where to start, like, i wouldnt even know where to look for Software Programmers etc

It cant be all just basic googling or else everyone would be rich

>> No.232052

>>232008
Obviously not.
First thing for you to do is to flesh out your idea and the business process associated with it. Then think about what platform is best suited for your idea (e.g. for web applications - J2EE, Java Play, C#, PHP for simpler ones). Is there a need for serious backend processing? Then maybe something community edition of WebSphere Process Server can work? Do you just need to store the data in db? WIll mySQL suffice?

Thats provided you wanna know about technology and follow what the people you hired are doing/ do it yourself. Otherwise just read a book or two on enterprise software development, and hire a consulting firm to do it for you (everything must be in writing! Espetially list of features, the fact that they'll be integration tested and total payment). + Non disclosure agreement.

>> No.232059

>want to open a business
>no starting capital

So what the fuck do I do?

>> No.232068

>>232052
Thanks bro, your post gave me a brief idea on how starting a company looks like

Any suggestions on literature?

>> No.232094

>>232059
Buy condoms and whore yourself out.

>> No.232109

>>232059
acquire capital

>> No.232110
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232110

>>232059
>buy hen and rooster
>hen and rooster multiply
>eat only eggs and chicken to save money
>sell the chicken and eggs
>?????
>become the chicken master

>> No.232175

>>231466
Get a job or someting fuck make IDK 600 isn't shit

>> No.232220

>>231466
Tie your $20 bills in knots, linking each bill together. Now go hang yourself on a door knob.

>> No.232548

>>231466
you need more money for this pal.

>> No.232732

Here you go OP: Buy digital converter software off the internet and a cheap VCR. Advertise on Craigslist and other places that you will convert people's old VHS tapes to DVD (or thumbdrive) and charge $20/tape or $50 for 3. You will have paid for the equipment by the 5th tape and the rest is just the cost of storage and your time.

>> No.232766
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232766

hey just stick with this advice
sounds like a troll but someone did the math

ideally be in your early-mid 20's
just work a minimum wage job that is neither physically or mentally exhausting. just make sure you have a 401k plan at your employers, make sure you contribute and get the match.

then from there, obviously be frugal. try to not touch the money from retirement. from 40 years in compounding you will be rewarded and be rich

>> No.232780

>>232766
Is there an actual demand for that? I already have the necessary equipment.

>> No.232783

>>232780
Oops meant to reply to >>232732

>> No.232791

>>232780
There is from empty nesters and old people. It doesn't scale well unless you are in a big city, but as a side project that only takes a couple hours it can work. Costco also does this but they have to send the tapes away and it takes weeks.

>> No.232812

>>232791
Sounds good. Where would I advertise other than on Craigslist?

>> No.232862

>>231466
>Get a job.
>Fund Roth IRA to the max for 8 years.
>Invest in index funds or something that can average you 10% a year.
>Wait 45 years
>Take your $2 million tax free

This is the only real answer

>> No.232903

buy edgecoin

>> No.233051

>>231466
With $600, I'm assuming you don't have a high-paying job. The best thing you can do with the $600 is to invest in yourself and acquire a skillset that you give you much higher-paying work.

Hoping to turn $600 into something that will give you enough passive income to retire is going to take more than a lifetime at normal rates of return. You'd have to be a trading god in order to turn $600 into enough to retire on in less than a decade. (You'd have to at least double your money every year for a decade.)