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Businesses with millionaire potential
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Mig Picante Offline
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Post: #26
RE: Businesses with millionaire potential
Software, software, software.
Build IP and run or get acquired
02-23-2019 08:43 AM
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SlickyBoy Offline
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Post: #27
RE: Businesses with millionaire potential
(02-23-2019 07:47 AM)the.king Wrote:  To be honest with you I don't see how starting a law firm in the US can put you in significant debt?

Minimum starting capital involves going into 100k of non-dischargeable debt for a median salary of less than 35k a year to be a solo practitioner. Many do not even make that. It is a positively terrible idea for a small business even for talented lawyers (which nobody is right after graduation - need experience). The economics just don't add up even for those who get a few years under their belt.

If you opened up a food truck for 100k and only made 35k you would be ahead of the game. If you failed, you could still declare bankruptcy for all of your debt - even credit cards. Can't do that for a mountain of school loans.

Twitter: @_slickyboy
Occasional contributor at Return of Kings (while it lasted)
(This post was last modified: 02-23-2019 12:59 PM by SlickyBoy.)
02-23-2019 12:52 PM
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jcrew247 Offline
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Post: #28
RE: Businesses with millionaire potential
If you invest and buy real estate, its possible to be a millionaire on paper at least with the outstanding loans and value of the home. Trump is a billionaire based on his land and real estate holdings but has very little liquid money in savings accounts. But if you want liquid money, then just cut costs and focus on saving as much as possible. don't buy new cars, buy small houses, no loans, etc.
02-25-2019 02:36 PM
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Arado Offline
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Post: #29
RE: Businesses with millionaire potential
Is there a thread for red pill business ideas? Like a marriage counselor pushing traditional gender roles?
02-28-2019 05:18 AM
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