How do I make $100k a month, please help?

[Anonymous]

[Anonymous]

You can't be for real. If you were a gifted neurosurgeon in an underserved area and willing to work around the clock, then yes. But they'll see you in 12 years when you finish up your training. Or the CEO of a fairly large company. But same story... See you there in 12 years. And looking down at your thread, you say you make 200K a year.

[Asker]

Go indeed, search this “software engineer” type location as Silicon Valley. You’ll see 4-5 years experience roles offers 200-275k annually is a fair pay, not even a good pay. It’s not much here. Not able to afford to buy a house.

You have google, you can google it.

[Opinion Owner]

A lot of those jobs are temporary, from my understanding. I guess you can move from job to job after each one is over. If you're making 200K a year you should be able to put aside a lot of money every month towards a house in a more affordable area.

[Asker]

True, most of them are contract and eventually half of them could be full time. Not everyone is going to be lucky enough to get full time. But I have student loan which I borrowed one for Masters Degree then PhD. So couldn’t save any for now. And mine is not a full time either. That’s why, I want to make money on the side where I don’t see the long financially stabilised future.

[SnowedIn]

You're kidding, right? That's $1.2 million per year.

You might try drug dealing.

[Asker]

No not at all. I’m a software engineer. I make 200k Annually while some of my mates who I went to school with are now making more than 1.2 million a year and looks at me like I’m so dumb. They always sarcastically gives me open advices and suggestions and tells me if I need them to recommend me something. They look at me like im going on a donkey when I drive around in my Honda.

I’d rather want to try that In a not so laws breaking way. I heard pharmacist make good money. Is it true?

[LiamJHayden]

You need to invest a good chunk of that $200K. Instead of a house, maybe buy a fourplex and live in one unit while renting out the other three. Work on building your passive income.

[lightbulb27]

how are your friends making that?

Build a business and sell it?

[Asker]

Yes two of them have side business. Also They got highly paying jobs. luck isn’t in my way. I tried business in 2020. If failed. I tried stock market. I was making money but also loosing them. So not like keep the constant. It’s like this, If I make 700$ in one day, I’m lost 900 next day and 1300$ in next next day. It’s up and down and up and down. I lost more money than I made money. I’m still learning it. So exploring my options to get off the debt and live peacefully and afford a house.

[lightbulb27]

you are from India?
Something is wrong in your thinking, or this isn't your skill. I made lots of mistakes too and my thinking about investing was wrong. There's a reason some people are good with it.
You can continue to learn, but respect those who are good at this.
My wife much better at business/investing, so find good wife with those skills can help immensely...:)
In my opinion it is personality, and training/emotional wounds that cause these problems. So as you are learning... make sure it's not just logic, but learning about yourself... because the dark cloud that follows you is one you cast around you. If you have gambling type mentality, that is one aspect.
think about that...
p. s. I was very successful, and I would be moreso if I never heard of stock market, or better, had learned to manage my thinking and invested better. live and learn...

[Static_In_The_Attic]

Selling bananas is a good way to make 100k a month.

[Asker]

Any food business is good I guess. But I don’t have that experience and I absolutely have no idea about business.

[LiamJHayden]

Buy up a bunch of rental properties. I have seven units and clear about 10% of that from them after expenses, so 70 or 80 units in certain parts should do it.

[Asker]

I’ve seen that section 8 properties and buy and not able to pay like owners. But I need more info on that. Im willing to try. It really help if you can give more infor.

[LiamJHayden]

I would avoid section 8. Also be aware of rent control laws in a lot of places. California has statewide, but you can raise a minimum of 5% to a max of 10% per year depending upon local CPI, except in certain cities. In OC avoid Santa Ana. There are also programs where you invest and own a %. I own mine outright. They are also in Costa Mesa, California where the average two-bedroom runs around $2500, so that helps. Do not forget to consider property management costs and maintenance, and the occasional deadbeat who knows the system and stiffs you for half a year.

[jamesgoldman]

My friend in exotic rentals makes that kind of money, took a few million to get to that point

[Asker]

Yeah true money makes money. But also need good subject or skill. Looks like I don’t have any of those. With my basic education i get paid okay. No where near any investment or gave capital. But I’ll still keep looking. Thanks for the spirit.

[msc545]

Armed robbery if you don't get caught or killed.

[Asker]

I wish I have that skill

[In_Trance]

sell stocks

[Asker]

I lost bunch of money. Every time I buy this things only goes down. I spend 7 days in researching one stock and when I buy this goes down.

[Anonymous]

rob a bank

[Asker]

If it’s not break laws, I’d definitely learn that skill and do it. But I mean in a real possible way.