$1M in 5 Years---Help!

[Subfallen]

I will not attempt to describe my actual situation, because it would not be believed---think extremely unwise, inebriated proposition bet.

Anyways, suppose that you need your net worth to exceed $1M in 5 years given the following parameters:
- You are 20 yrs. old.
- You will finish a MS in computer science in 2 months.
- You have a job offer of $47k/yr in an area with very low cost of living.
- Your current liquid assets are approx. $20k.
- You have sufficient motivation to work any hours and endure anything within reason (e.g. not sodomy) to achieve your goal.

Any suggestions at all? Given the above, what is the probability of succeeding? /images/graemlins/confused.gif

[mike l.]

"endure anything within reason (e.g. not sodomy)"

better stay out of the corporate world then.

or lube up.

[housenuts]

if it was a serious goal of yours and you were really focused i'm sure you could. i would take the job first off. work there for at least a year and you'll not only develop skills, but establish connections.

to make the cool mill. you'll probably have to create your own startup.

[MarkL444]

i want to hear the actual situation. i will believe you. /images/graemlins/grin.gif

[Popinjay]

Is stealing or other such illegal activities out of the question?

[Subfallen]

Depends on how risky it is.

[Chairman Wood]

Lottery

[somethingstupid]

Christ. Please don't tell me there's a girl involved.

[mantasm]

partypoker.com

[Subfallen]

I'm telling you, it's not really a plausible situation, which is why I said imagine you've somehow made a prop bet with Russian mafia or something. I'm trying to see if there are any themes to how OOT'ers would approach this.

[Subfallen]

Probability of success given you've only been a proven winner at $3/$6 SH at this point?

[Slacker13]

Real Estate. If i have to tell you that then you have problems.

[Subfallen]

Link for info (yes, I have problems)? Probability of success?

[lorinda]

Any suggestions at all? Given the above, what is the probability of succeeding?

The worst case, which is always your starting point in something like this, and then you improve on it, is to save $250k in wages (assuming you can live on the breadline from some real low limit poker) and aim it all on red, twice, at roulette.

So you're 3-1 at the moment, now you need to improve on that.

Lori

[Subfallen]

Wow, I love this post. Easily quanitifies my chance of success at any given time. Thanks!

[housenuts]

the solution to this is easy.

work for 4 years. live as cheaply as you can and as long as you have $167,000 all you have to do is double up and then triple it.

too easy

[youtalkfunny]

My favorite words in gambling:

"...all you have to do is...."

[MarkL444]

[ QUOTE ]
Any suggestions at all? Given the above, what is the probability of succeeding?

The worst case, which is always your starting point in something like this, and then you improve on it, is to save $250k in wages (assuming you can live on the breadline from some real low limit poker) and aim it all on red, twice, at roulette.

So you're 3-1 at the moment, now you need to improve on that.

Lori

[/ QUOTE ]

of course 75% of the time you waste 5 years of your life and dont accomplish your goal. minor detail

[Reef]

stock market / high risk investments

... you're either gonna reach a Mill, or go broke.

[Subfallen]

Ok, so this seems to be the consensus---there will be a significant element of GAMBOOL involved in completion. Meh.

[zaxx19]

If you want to be RICH in this country.....

1) Dont get in the habit of working for others especially corporations. Corporations exist not to make you rich but to make shareholders rich, they will work you as hard as possible for as little money as possible.

2) Buy real estate ASAP. Keep buying more. Put most of your money in Real Estate where there are good school....(look for Jewish and Asian kids that will be a good tip off that the schools are great)

3) Control expenses......seems obvious but most of money management is back end...see Mike Tyson, MC Hammer, Willie Nelson....

4) Be sure to live life a bit.....1 million bucks isnt gonna make you happy....at least not in the long term.

P.S. I m not sure a job in IT will be that lucrative in 10 yrs considering the outsourcing going on so dont get tied down in that field.

[casinogosain]

Sex toys.

-ash

[radek2166]

Sell crack or, find Osama

[IndieMatty]

VN

[Gamblor]

[ QUOTE ]
Ok, so this seems to be the consensus---there will be a significant element of GAMBOOL involved in completion. Meh.

[/ QUOTE ]

i could not have predicted that this was the advice that would have come out of a forum dedicated to those that gamble for a living, have chosen to make it a serious passion, or are hopelessly addicted to it.

[mmbt0ne]

Listen to this one then; you open a company called the Arse Tickler's Faggot Fan Club. You take an advert in the back page of some gay mag, advertising the latest in arse-intruding dildos, sell it a bit with, er... I dunno, "does what no other dildo can do until now", latest and greatest in sexual technology. Guaranteed results or money back, all that bollocks. These dills cost twenty-five each; a snip for all the pleasure they are going to give the recipients. They send a cheque to the company name, nothing offensive, er, Bobbie's Bits or something, for twenty-five. You put these in the bank for two weeks and let them clear. Now this is the clever bit. Then you send back the cheques for twenty-five pounds from the real company name, Arse Tickler's Faggot Fan Club, saying sorry, we couldn't get the supply from America, they have sold out. Now you see how many of the people cash those cheques; not a single soul, because who wants his bank manager to know he tickles arses when he is not paying in cheques!

[The Armchair]

[ QUOTE ]
I will not attempt to describe my actual situation, because it would not be believed---think extremely unwise, inebriated proposition bet.

[/ QUOTE ]

You left out the best part of your post.

[Stock Whiz]

If you want high risk, high return, put the entire 20K in WPTE - the World Poker Tour stock. They just opened their online website and if it is a success, you could turn the 20K into 1M. Good luck.

[The Armchair]

Serious question: What was the language of the bet? "One million dollars in five years" or "a millionaire within five years"? If it is the latter:

1) Go to a foreign currency exchange.
2) Give them about 75 US cents.
3) Ask for about 1m Turkish Lira (the old ones, not the New Turkish Lira).
4) If that does not work, as they lack Turkish Lira (they are being phased out), give them another $225 or so.
5) Ask for about 1m Zambia Kwacha.

Optional:
6) Take trip to either Turkey or Zambia (whicheve is appropriate) using your $20k savings.
7) Have someone take a picture of you with your mounds of cash.

Victory!