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

love the avatar, love you keep changing

 

can selling your body work, sorry now I am in the gutter.mmmm

 

Only in boxing.

 

Let me know if you figure it out, I have $10k sitting here waiting

 

It's a great question. We're all interested in making money.
Could be good to give the music thing a go or if you could wait 2 or 3 years, maybe shares? A managed fund? Pay into it in instalments.

 

Based on you OP I would have said try and muster some more capital first look around your house for things you don't like/use/need sell maybe you have a valuable collection of stamps/coins you could sell (stretching). Get a second/night job. Save save save. Not sexy or fun but could double your starting capital which halfs your required return.

However you've now said you've got a lot more money to play with so I would say do one of two things:
Go high risk high reward on the $10k aiming for $50k. Casino is probably the only sure bet (j/k)
Alternatively use more of your stack and go more medium risk.

 

Id work weekends.

 

Why are you dismissing 'get a job'? If you can't save another 40k, then that is the most realistic means to achieve your goal. Work nights. Weekends. Overtime. I don't mind over stretching myself as I can pick up extra work whenever I need it. I would hate to, and never have - but it's there if I needed. I'm not sure if this is possible in your line of work

 

- any opportunities for promotion in your current job?

- any areas you could lower you current expenses? Eg cancel foxtel, gym membership, eating out a lot, sell your car buy a cheaper one, re-do your budget?

- put it towards investing in yourself in courses to make yourself more valuable in your current job or other areas?

- put 10K Reno into one of your current properties now and get a reval done at end of year?

I guess I'm saying diversify where you're expecting the 50k to come from, I think you'll get there by Dec 31

 

12 months too late now.

But ASX : BAL @ IPO or there a bouts would have seen you race past 50K in 12 months.

500% return in that period of time is a tough ask in this climate or any for that matter. But there are many publicly listed companies that have returned circa 100% the past 12 months.

Trading time for money is your lowest risk bet. I take it you don't currently run your run a business or this type of question may not have arisen.

So just work. 365, 24/7. Take 8 hours off for sleep, maybe 2 hours off for travel, maybe take christmas day off. Maybe, public holidays pay penalty rates and penalty rates are the easiest earnings boosters.

Just turn up. You've likely got very little responsibility in your circle of influence at work. So it really is just a matter of turning up. Repetition, repetition, repetition.

PS. I've been there. It really sucks. Sometimes its physically demanding, anything after 30 days becomes severely mentally draining. Although you really start to know your alive when 60+ days start rolling in. But the more times you push your limits the further away the next time you find your boundaries are.

" Don't just talk about it, be about it "

Good luck in your en devours.

 

Sell both and problem solved

 

This. . I have an online business (as does Ace) a starting order of $10,000 of stock would turn into $50k nett if you had 100% profit and stock turn of 5-6 times.

Give it a go, think of a product line...buy $1000 of stock and try to turn in over in 5-7 days. Repeat, do that every week

Realistically, though a $50k nett biz usually takes longer than one year to establish.

 

I doubt you would get much support if you do that to line your own pocket and people will have a dim view of you. Those event are usually community ran for fund raising with every thing being donated or given at discount rates and often the performer doesn't change

 

Best way to have 50k by the end of the year is to put 100k on the ASX

 

Google the story about "pet rocks".
How a person carefully picked some pebbles from beaches for free and sold them as pet rocks, nicely packaged. Made millions.
Try something crazy, out of the box.
- Pick sea shells, colour them and sell on internet.

 

Tighten the belt on household expenditure to beef up the pot of money and then invest. Some ways of tightening the belt... shop at low cost supermarkets. Only buy things that are on special. Review insurances to see if you can get a better deal elsewhere.

 

I have a friend who does events. He makes a lot of money from them. Think outside the usual music/arts gig when running events, the money is mostly from sponsors.

 

There are plenty of money can be made as a Wedding Organiser...

 

Soap.