 Was Warren Buffet born rich ? |
Or he really made his money from an average family ( let's say making less than 100K)
Thanks.
Additional Details
Yes, about 100k in today's value.... |
|
 I want to buy stock but I don't know how to do it? |
| I would like to buy some cheap stocks (I'm a college student) like maybe Cardiovascular Sciences but I don't know how to do it. I've been to there website. I don't want to do it ... |
|
 What would you do with $30,000 to invest? |
| My sis has received a $30K lump sum and wants to know what's best to invest it in. No specific stocks (unless you're on the board and want to share some insider stuff :). She has a ... |
|
 What's the best way to invest $5000? |
| I never saved in my life and now I want to make my money work for me what's the best investment advice out ... |
|
 What is the best way to invest 200 dollars? |
| So I made a little cash and even though I am in college( and probably could spend it very easily)- I wanted to start an investment fund somehow outside of school expenses. my mom wants me to just use ... |
|
 X-mas present for my newborn niece (financially sound)? |
| I'm looking to get a X-mas present for my newborn neice. I don't want to waste money by getting her toys (I'm sure she will get plenty of those from the rest of my family). What gift ... |
|
 Is $5000.00 worth investing? |
| Are there any suggestions for making such an investment? I have never invested anything before.... |
|
|  |
andy woman | What are the chances of becomming rich in the stock market? |
Ok, being realistic, what are the chances of becomming rich in the stock market for a pretty intelligent person and how long would it take to become rich? I know it can be done, but i dont know what the chances are of it happening. |
 |
 
enoriverbend
 |
It depends on your definition of rich, and on how patient you are.
If you want to start with little money, and become a billionaire in 2 years, forget it. You're just dreaming.
If you invest 15-20% of your income consistently and patiently over time, with an eye towards the long-term goal instead of short-term gambling, people of average incomes can have an excellent chance of eventually becoming millionaires, or multi-millionaires. But you have to do your research, and act carefully and thoughtfully.
Naturally, most people prefer the "easy" quick-riches route, which is almost certainly doomed to failure, instead of the "hard" patient slow route, which has a very good chance of success. |
|
The Shadow
 |
What is "rich?" The odds are that you won't become a billionaire. However, you can definitely become financially comfortable if you learn how to invest and manage your personal finances wisely.
Start reading up or take some classes on personal finance and investing. Learn how to evaluate companies properly so that you make intelligent choices. Be financially disciplined. Avoid "get-rich-quick" schemes like penny stocks which are really "throw-your-money-away" schemes. If you're not comfortable picking individual stocks, buy good stock mutual funds. You'll get the benefits of stock market growth and you can let the pros handle the stock picks for you.
Most people fail because they want to find a system that is simple and doesn't require any effort. There is no easy path to success. However, you can do it if you are willing to put the necessary time and effort into it. |
|
muncie birder
|
The chances are better than very good. It does not happen over night more most people though. It indeed does for some. One factor is what do you consider as being rich--one million, ten million, hundred million, a billion? One million, if you are dilligent and a little lucky, 20 years is perhaps a good average. 10 years is possible for maybe 10% of investors. 5 years for 1%. ten million maybe only 2% will ever see that. hundred million maybe 1/10 of 1%. And actually there are quite a few who have made a billion. |
|
Stephen
|
It's easy--if you take 30 years to invest. On the other hand, noise/day traders on average lose money. |
|
tuesnitedelite
 |
Well what are the chances of the New England Patriots going undefeated? Who knows, right? Anything can happen. The stock market is not the lottery it is just calucatled risk management. Before you try study up on what companys you want to invest in and all the basics before hand. Knowledge is power. |
|
Waldo Biggerstaff™
|
You can find all of these answers by reading:
http://www.amazon.com/Jim-Cramers-Real-Money-Investing/dp/0743224892/ref=pd_bbs_sr_3?ie=UTF8&s=books&qid=1197752497&sr=8-3
and by doing your homework! |
|
Bill K
|
I agree with the comment re: compound interest. However, bonds is not the way to go unless you are a long way into retirement. Take a look at dividend paying stocks that increase the dividend payments. This way you get paid to own the stock and the payments increase yr on yr.
With the click of a button on DividendInvestor.com you can get the Top 100 dividend paying stocks.
http://www.dividendinvestor.com/ |
|
Feeling Mutual
|
Making money in stocks is a skill.
It is learned by experience, and normally, you start by losing some.
Every time you buy a stock, you pay a transaction fee.
Every time you sell a stock, you pay a transaction fee and an SEC fee.
Assuming you just randomly bought and sold stocks, your chances are 50-50. But when you factor in the fees, your odds are now less than 50-50, you will lose it all eventually.
The only way to make money in the stock market, is to always sell stocks for more than you pay for them, including all fees. You cannot just buy and sell them randomly.
The other part is, long term investing, you have to factor in inflation, and taxes. It does not do you any good if you invest $10,000 for 30 years, and it grows to $100,000, and $100,000 is the price of an economy car in 30 years. |
|
slavaret2
 |
I'd say they are roughly equal to those of becoming a successful lawyer, or doctor, or real estate developer, or business owner, or investment banker - depends on your skill and the effort you are willing to put into it. |
|
rutgersgroup
|
The stock market is the most realistic game on the planet. The chances to get rich quick are slim to none. The way to make money is through investing in index funds and bonds with low charges over the long run as early as possible. Just settle on a beta that you are comfortable with and leave you money alone. As Einstein said The most powerful force in the universe is compound interest.
Cheers and good luck |
|
ylahaie13
|
I think this is a bit of a silly question.. first what do you consider rich, and you have no time parameters? Chances are you will make money if you have a wide portfolio that absorbs risk like spx, ccmp, or indu. But if you have little money the only way to strike it rich is to get lucky several times in a row without picking any dogs in speculative stocks. & the chances of that are slim of gettinxg v lucky several times in a row.. see you latest stat book .01x.01=.0001 so you see how hard it is of picking speculative winners, not that these are your actual odds but if it were that easy, everyone would be rich. & If everyone was rich then rich would lose its rich definition.
A more intelligent question would be if I have 20 bucks what are my chances of turning it into 2mil in the stock market over 5 years. & my answer would be slim to none. Good luck, there are no quick fixes. |
|
Rose
|
I am interested to know this too.
Well you have to watch the movie: Good advice.. |
|
///
 |
Well slim to none. You have to know the business very well. You have to analzye the market daily. You also have to take many risks. This industry can make your life or ruin your life forever. |
|
kentenooo
|
very unlikely,it would be like playing a game 500 times in a row, betting everything on each game and not knowing the rules.Best to leave the stock market to people like martha stewart and hilary clinton |
|
Ties that bind
 |
about the same as getting hit by lightning |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
14 | 14 minutes(s) ago
| | | |
15 | 16 minutes(s) ago
| | | |
15 | 31 minutes(s) ago
| | | |
15 | 51 minutes(s) ago
| | | |
15 | 1 hour(s) ago
| | | |
15 | 5 hour(s) ago
| | | |
15 | 8 hour(s) ago
| | | |
1 | 2 day(s) ago
| | | |
15 | 3 day(s) ago
| | | |
15 | 5 day(s) ago
| |
|
Homepage 
Financial
Forum 
Investing 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
