How to amass next logarithm of wealth
My net worth is around $350K. How to amass next logarithm of wealth? I don’t find much in going up a few hundred K every couple of years. Ideally want to create generational wealth & take the next step. In addition to stock gains, I have a bunch of side hustles but they only make around 10-20K per month. e.g. ripping tik tok/twitch clips and uploading them to youtube channel; social media marketing with instagram/tik tok pages for promos/affiliates. I might start investing in real estate or franchising but they are slow growth. I am 26. No rent (house hack), no car yet, very little other expenses. Looking for serious tips. #personalfinance #investments
There are roughly three ways: 1. Grind up TC as much as possible. If you have a good career, you can make 1M+ per year. But it will take a lot of work. 2. Take a risk with a startup — preferably your own for better / asymmetric outcomes. 3. Try to create some other business that cashflows. Seems like you’re already house hacking so that’s good.
Startups sound like an interesting idea. Definitely easier said than done though to create a successful company. Maybe will look into investing in very early startups; haven’t done this yet because I find the risk akin to betting on penny stocks - although I’ll admit I have no expertise there.
create an ICO
If your end goal is living well, look into investments. Startups are for people who are focused on solving a problem, that’s where their drive comes from. When it comes to investments, real estate is slow money, stocks are higher risk but potentially higher returns. That said there are many retail investors and gamblers dipping into the markets so it’s a little crazy.
I'd like to learn a bit more about what you do with your side hustles especially the tik tok clips to youtube As far as jumping to next logarithm, I have found crypto to have a number of gems if you are willing to roll up your sleeves and dig past cursory level.
Tell us more about your side hustles
Risky investments or start a business and keep a lot of equity