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Ask HN: How do I make a lot of money quickly?

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Re: Ask HN: How do I make a lot of money quickly?

#41

Post by thenomad »

smoyer wrote: post #6

It's easier to keep the money you earn than to earn more, and the discipline will provide long-lasting benefits. You'll be surprised to find that you can live with far less expenses without decreasing your standard of living. It will however require thought.

"It's easier to keep the money you earn than to earn more"

That's true in some cases and some circumstances, but not all. Apart from anything else, if there are things you want or need that cost more than you currently earn on a per-month basis, then it's definitely easier to earn more in order to be able to afford them.

There are also a number of circumstances where it's far easier to make more money than make more savings - for example, the very common "freelancer drastically undercharging" or "exemplary, beloved full-time employee who can probably get a raise just by asking" ones.

"the discipline will provide long-lasting benefits"

Depends how you do it. In general I'd agree with you, but being excessively frugal can be just as damaging to your health and happiness, and that of your family, as being spendthrift.

Re: Ask HN: How do I make a lot of money quickly?

#42

Post by thenomad »

What you're suggesting is perfectly doable, apart from the "very quickly" bit.

Making $5k a month shouldn't be too hard, but almost all of the ways to do it have ramp-up time. Becoming a specialised contractor, starting a business of one kind or another, going down the usual Internet Marketing routes (which do work if you put the time in) - they'll all get you considerably beyond $5kpm, but none of them are really doable in a 3 month window.

If you're really serious about doing this, commit a year at least and start learning.

(BTW, you have read "The Four Hour Work Week", right? If not, definitely have a read.)

Re: Ask HN: How do I make a lot of money quickly?

#43

Post by kspaans »

aspdotnetvan wrote: post #34
Mandatum wrote: post #33

Seems to be a lot of no-content responses here which is a shame. Realistically your best bet is to do consultancy/contracting work. With 2 years experience you could easily pick up a Jnr or Intermediate role at $40-80/hr. Over a month you'll have your 5K. Pull 80 hour weeks on in-your-own-time contracts and you'll make it in a week. You also need to cut living costs out entirely. If you wanted to go extreme, sell eve…

I don't know if I am being ripped off, I am currently working at a small company in BC, Canada, doing ASP.NET with some front-end (recent college grad, working full-time 9-5). My salary is ~37k/year. "With 2 years experience you could easily pick up a Jnr or Intermediate role at $40-80/hr" - is it in the Valley?

For reference my first job was $70k/year at RIM/BlackBerry in Waterloo, Ontario. I was writing C code for the BB10 phone app (middleware, not UI or cellular radio stuff). Admittedly I had ~2 years work experience from UWaterloo's co-op program though.

Re: Ask HN: How do I make a lot of money quickly?

#44

Post by gspetr »

makufiru wrote: post #31
CPLX wrote: post #8

Are you handy with chemicals? Happen to own an RV?

Good suggestion, but I'm looking for something a little more wholesome. Like a hired hitman.

You came to the right place. Why not raise a round with YC to disrupt the assassination industry?

I always thought they were making a killing.

If only you could take out the competition.

Re: Ask HN: How do I make a lot of money quickly?

#45

Post by taphangum »

There are literally millions of micro-niches online where spending x will yield x per month, fairly consistenly. Just find these, and scale.

For example: Udemy courses. I have one that does $3,500 a month on the high end, and about $500 a month on the low end. I know a guy who gets about the same average but has created roughly 40 courses. He, as you can imagine, makes a little more than $5k a month.

Btw, my investment in the course was no more than $200 total. Plus of course about 20 hours of my time.

Re: Ask HN: How do I make a lot of money quickly?

#46

Post by Rainymood »

taphangum wrote: post #45

There are literally millions of micro-niches online where spending x will yield x per month, fairly consistenly. Just find these, and scale. For example: Udemy courses. I have one that does $3,500 a month on the high end, and about $500 a month on the low end. I know a guy who gets about the same average but has created roughly 40 courses. He, as you can imagine, makes a little more than $5k a month. Btw, my investme…

What are the courses on? Could you elaborate a bit more on what you provide for the X / month? Do you make 20 videos and then put them on? Do you have to grade their homework?

Re: Ask HN: How do I make a lot of money quickly?

#47

Post by icpmacdo »

miguelrochefort wrote: post #37
aspdotnetvan wrote: post #34

Earlier quoted context omitted.

I don't know if I am being ripped off, I am currently working at a small company in BC, Canada, doing ASP.NET with some front-end (recent college grad, working full-time 9-5). My salary is ~37k/year. "With 2 years experience you could easily pick up a Jnr or Intermediate role at $40-80/hr" - is it in the Valley?

Two years of mobile development (iOS and Android) experience in Montreal. I make less than you do. Surely that's a Valley thing.

Its sad you make that little as a dev in Montreal I would have loved to work there.

Re: Ask HN: How do I make a lot of money quickly?

#48

Post by aliston »

thenomad wrote: post #42

What you're suggesting is perfectly doable, apart from the "very quickly" bit. Making $5k a month shouldn't be too hard, but almost all of the ways to do it have ramp-up time. Becoming a specialised contractor, starting a business of one kind or another, going down the usual Internet Marketing routes (which do work if you put the time in) - they'll all get you considerably beyond $5kpm, but none of them are really do…

Could you expand on the "usual" internet marketing routes? What would be some good places for a beginner to start?

Re: Ask HN: How do I make a lot of money quickly?

#49

Post by thepredestrian »

Rainymood wrote: post #46
taphangum wrote: post #45

There are literally millions of micro-niches online where spending x will yield x per month, fairly consistenly. Just find these, and scale. For example: Udemy courses. I have one that does $3,500 a month on the high end, and about $500 a month on the low end. I know a guy who gets about the same average but has created roughly 40 courses. He, as you can imagine, makes a little more than $5k a month. Btw, my investme…

What are the courses on? Could you elaborate a bit more on what you provide for the X / month? Do you make 20 videos and then put them on? Do you have to grade their homework?

I too would am curious to know

Re: Ask HN: How do I make a lot of money quickly?

#50

Post by thenomad »

aliston wrote: post #48
thenomad wrote: post #42

What you're suggesting is perfectly doable, apart from the "very quickly" bit. Making $5k a month shouldn't be too hard, but almost all of the ways to do it have ramp-up time. Becoming a specialised contractor, starting a business of one kind or another, going down the usual Internet Marketing routes (which do work if you put the time in) - they'll all get you considerably beyond $5kpm, but none of them are really do…

Could you expand on the "usual" internet marketing routes? What would be some good places for a beginner to start?

SEO, paid traffic affiliate marketing, infoproducts, SaaS, viral / social media-led stuff, paid blogging - those are the usual routes that spring to mind. Some cross over.

Good places to start learning:

"Four Hour Work Week", as mentioned, and Tim Ferriss' blog. "The $100 Startup" - book. Smart Passive Income - blog Viperchill - blog ProBlogger - blog. Ignore the guest posts, read stuff by the founder Darren Rowse.

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