How would you go about making 50k profit in one year?

So how did you make the first 10k?,if you can make 10k then 50 is only a number..

 

Don't let haters bring you down dude. People have made a lot more than 50k off a lot less than 10k. I suppose the thing is: there's a zillion ways to make money you just need to dedicate yourself to an area. If it's the share market- then get online and get a book and learn how to trade. If it's property, see your broker, get as much cash as you can- look in broken hill or some rural **** hole that you can buy some cheap piece of crap and spend a few months working your ass off doing it up. You can make 50k this year very easily and most people on this forum do it sitting on their hands. There is nothing wrong with asking the question either, the only dumb question is the one you don't ask

 

What is the timeframe to go from 10K to 50K? Is that one year?

 

Put it on Essendon making the 8, it pays 51:1

 

Timing is critical as a gambler ..........

You got to know when to hold 'em, know when to fold 'em

Know when to walk away and know when to run

You never count your money when you're sittin' at the table

There'll be time enough for countin' when the dealing's done

Cliff

 

What are the odds for Carlton ?

Cliff

 

Whatever option you choose, its most likely going to be high risk becasue to invest 10k and get 50k net return or 500% return in 12 months is a massive ask unless the risk is way up there. If the risk was low, every single person on this forum would do it now.

 

Pretty sure even Shannon Noll expects to be paid a bit more then 10k.

I think what everyone is trying to tell you is that although it's good to aim high, realistic expectations are probably a major key to successful investing.
50k from 10k is realistically going to take you a lot longer then 1 year, unless you get a lucky gamble that actually pays off.

Firstly, I would sit down and figure out how much extre you would be able to save to add towards that original 10k over the course of the year. Whether it is $5 per fortnight or $500 per fortnight.
Secondly, you want to decide how much risk you are willing to take on. I mean you could walk out to a casino and put the lot on blck and potiential end up walking out with $1mil at the end of the night. The odds are highly stacked against that ever happening, but its possible. Or you could decide that to play it ultra cautious, because it is too hard saving large amounts of cash and you would rather not lose what you already have. And you might do something along the lines of putting it in a high interest savings account or a security desposit. In which case you may only earn 2.5% pa (less the the rate of inflation by the way, but still better then nothing); which equates to an extra $250 in 12mths time (slightly more if you are contributing to it along the way).

You could come up with a brilliant business idea and try to launch it with the money you have, some people manage to do this (usually they have the drive and determination to work towards a long term goal, rather then those simply looking for a 'get rich quick' scheme though).
Or you could get a second job, where the entire second income is put into savings. But unless you have a particular skill you can use for this second job it is likely to be less then 50k pa if you already have employment you are committed too.

But if you ever do find the secret of turning 10k into 50k in just 1 year, please let me know. I have money burning in my back pocket that I would love to multiple that quickly.

 

Does he have the balls for that ....?

Cliff

 

Is that a Shannon Noll song?

 

Don't think he covered it , though he did get his break singing a cover

What about me .....

Cliff

 

Very true.

The things you mentioned are high risk and your just as likely to loose it all .

If that's ok , have a go , but if you want certainty .....

Cliff

 

Appreciate that sir.. Was pretty suprised by the negativity of one guy in here but I pay that no mind.

Comments like 'get a job' are pointless to me, but hey, they get post count up I guess

This post was made simply for some motivation for everyone, ideas are ideas and some can turn to gold.

To answer some questions: I got my 10k thru property - I have more but I want to keep that for a deposit when the time comes. 10k is the amount i will dedicate to working towards a goal. It's the amount I'm happy to risk.

I have had expirience doing music events & have made some good money doing them. I would definetely be trying to do it bigger and better though if I was to consider doing it again this year.

Anyway sorry if this post offended anyone or pissssed anyone off, it was only made because I'm feeling inspired and I operate best when I'm focused. Sometimes that means writing it down. Like I said, my bad to anyone that was mad because of it.

Thanks.

 

Oh and I DO have a job.. Nothing great, but it's full time and pays my bills. Also allowed me to purchase 2 properties and I'll eventually get more.

 

No one was offended , just amused and replies were tongue in cheek .

If you have experience doing music events and you know that industry , go for it .

Had a chat to a Mr Hope and his wife a few years ago and it worked for them , but they had some capital behind them. Hard work though .

Cliff

 

Bet on the tennis, be quick though, it may not be as predictable in future ?

Also, don't worry about photography, even with skills, digital cams and the net has killed it, so you would be less than a starving artist now

 

No problems, sometimes people forget what it's like starting out and how hard it is building the 'empire' .Personally I love seeing young people with crazy ideas and ambition. Good on you D'Mo, I think you may have answered your own question though. If you know how to make money from events, start putting pen to paper and get some things happening. My brother in law used to make great money organising themed nights in clubs in the city. He would organise DJs and charge admission even though it wasn't his venue. Just keep thinking outside the box and you will get there 100%.

 

have you done gigs before or been exposed to the running of them? i used to do that years ago, did some decent sized shows and a fair few friends are still involved in that scene.

if you have no experience whatsoever then there is a greater chance the $10k will turn into $0 instead of $50k

not an easy industry at the best of times, easy to get caught up in the euphoria. having said that though once you learn a bit about it to start of doing small events can often be pretty cheap. i remember a mate of mine and i giving out small ****** flyers around unis and other places for some hip hop shows we did in 2000, we were pretty broke uni students so it can be done on a tight budget. just be aware that plentyof other people are doing it too and often people hugely passionate who know a lot of others in the scene.

if youre doing it cos you think it might be fun but thats the extent of the thought process then you might end up getting a hiding

 

he played at a small lounge bar on the gaming floor of Crown Perth tonight, im guessing he isnt as popular as he once was...