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Question

How do I start saving money?

Trent Larsen, CFP®
Certified Financial Planner
Trent Larsen is a Certified Financial Planner™ (CFP®) for Insight Wealth Strategies in the Bay Area, California. With over five years of experience, Trent specializes in financial planning and wealth management as well as personalized retirement, tax, and investment planning. Trent holds a BS in Economics from California State University, Chico. He has successfully passed his Series 7 and 66 registrations and holds his CA Life and Health Insurance license and CFP® certification.

Trent Larsen, CFP®

Certified Financial Planner

Expert Answer

I would say definitely start with the baby steps. So whether that's starting with saving $5 a month or $10 a month, or whatever that number is, so you don't feel overwhelmed by saving a big number like $1,000 a month. Whether the goal is retirement or maybe a down payment on a home, just work through the baby steps and try not to do everything all at once.

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Question

What should I do to become happy and rich?

Andrew Lokenauth
Finance Executive
Andrew Lokenauth is a Finance Executive who has over 15 years of experience working on Wall St. and in Tech & Start-ups. Andrew helps management teams translate their financials into actionable business decisions. He has held positions at Goldman Sachs, Citi, and JPMorgan Asset Management. He is the founder of Fluent in Finance, a firm that provides resources to help others learn to build wealth, understand the importance of investing, create a healthy budget, strategize debt pay-off, develop a retirement roadmap, and create a personalized investing plan. His insights have been quoted in Forbes, TIME, Business Insider, Nasdaq, Yahoo Finance, BankRate, and U.S. News. Andrew has a Bachelor of Business Administration Degree (BBA), Accounting and Finance from Pace University.

Andrew Lokenauth

Finance Executive

Expert Answer

The best advice is to find a job that's a combination of 1.) something you're good at, 2.) something you enjoy doing, and 3.) something that can make money. If you find a job with those three qualities, then you'll be able to be happy and rich.

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Question

How old do you have to be to invest in business and buy stocks, real estate, and the like?

Community Answer

There is no specific age to start to be an investor. Warren Buffet started when he was 7 years old. Read up on what you want to invest in, and ask anyone you know who invests for tips.

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Question

How can I become a billionaire quickly if I am young?

Community Answer

Work hard and connect with people who have money. They may introduce you to investment and job opportunities.

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Question

When starting my own company, is it better to do so on a national level or an international level?

Community Answer

Often, it's better to start a company on a national level. When your company is gets big enough, you go international.

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Question

How can I save money when I'm so broke?

Donagan

Top Answerer

You can't. But maybe you're not as broke as you think you are. Maybe you're just in the habit of buying things you don't absolutely ''need.'' Try living within your means. Don't buy anything unless you literally cannot survive without it. If you ever get un-broke, start saving a little bit of money every month. It doesn't have to be much. Just start saving. You'll surprise yourself after a while.

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Question

Can a singer become a billionaire?

Community Answer

Hypothetically, anyone can become a billionaire through any job, but realistically, no. Most wealthy musicians have amassed their wealth in other ways. If your dream in life is to become a billionaire, there are only a select number of jobs which could even allow a person to become one and even these jobs have next to zero odds. Instead of focusing on money, find something you love to do because having passion is the most important thing.

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Question

Can a 13-year-old become a billionaire? If yes, how?

Donagan

Top Answerer

Every billionaire was once 13. Read books about investing. One good one is "The Making of An American Capitalist" about Warren Buffett.

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Question

How do I become a billionaire from being a writer?

Donagan

Top Answerer

Write about a subject that is overwhelmingly fascinating to millions of people.

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Question

Can I be a billionaire mechanic with bad grades in high school?

Community Answer

If you work hard, anything is possible. However, you'd probably need to own an entire chain of mechanics workshops across a country, and offer something extraordinary over and above what other mechanics do for the billions to roll in. Perhaps focus first on improving those grades and broadening your talents before dreaming of your billions; it also pays to realize that money truly isn't all that matters in life.

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Question

How do I open my own business?

Community Answer

You should read other articles on wikiHow about starting your own business. For example, here is an article which should directly answer your question.

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Question

How can I quickly become a billionaire?

Community Answer

Invest in the right stocks.

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Question

If you are only a high school graduate, is it possible to become rich?

Donagan

Top Answerer

Absolutely. You may have to work harder and smarter than all those college grads, but there are rich people who only finished high school and poor people with masters degrees and doctorates.

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Question

I will be retiring within the next seven years. How much should I be saving on a monthly basis so that I can earn not less than US1000.00 per month as my pension?

Donagan

Top Answerer

Use an online retirement calculator to make this determination. They can be found on many financial websites. Just websearch "retirement calculator."

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Question

Should I just tell my parents to pay me so I earn more?

Community Answer

No. Unless you are actually working for your parents, there is nothing for them to pay you for. You could earn a little money by doing chores or jobs for your parents. But your parents have limited money, which they probably work hard to earn, and they need most of it for their own expenses. If you want to earn a lot of money, you will have to work for it yourself by getting a job, starting a business, and/or doing the other things suggested in the article when you're old enough.

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Question

Can I become a billionaire by starting a retail business?

Donagan

Top Answerer

While it is technically possible for you to become a billionaire through a retail business, it is not highly probable.

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Question

How do I start learning about the stock market?

wikiHow Contributor

Community Answer

To begin learning, explore online resources such as Khan Academy. Once you have a foundational understanding, you might consider contacting a financial broker to help you start investing.

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Question

I'm not asking to become a billionaire, but can I become a millionaire as an automotive designer with an average income of $80,000 - $110,000 per year?

Donagan

Top Answerer

Absolutely, as long as you invest wisely and live within/below your means. It will take time, but if you can manage investing 20% of your income monthly, you will get there.

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Question

Can I have billions if I left school?

Community Answer

Anyone can have billions, it is just that most everyone will never have billions because the system is rigged so that the few have billions and the rest have nothing of the sort. Whether or not school helps depends on who you are and the luck you experience. There is a lot of baloney about going to school and not going to school when in actual fact it really comes down to how many risks you're willing to take and how confident you are and that is something deep within.

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Question

Can I succeed in business if I'm not naturally energetic?

Donagan

Top Answerer

To succeed in business, you will generally need to develop and maintain a strong level of energy.

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Question

Do grades really matter in becoming a billionaire?

Community Answer

No. Grades do not decide one's future. What matters is your talent and the knowledge you gain and use to become a billionaire.

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Question

What educational qualifications should I have?

Community Answer

A few degrees that would be beneficial are in the areas of business, engineering, and accounting. An MBA degree would be very helpful to succeed in business.

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Question

Does this apply to the UK?

Donagan

Top Answerer

Yes, the principles for achieving billionaire status outlined in this article are broadly applicable to individuals in the UK.

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Question

Do I need to get into my field of study before I know where I can invest, or can I invest before getting into the field?

Donagan

Top Answerer

Invest as soon as possible. Ask advice from someone already in the field.

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Question

Is it possible to be a billionaire by 32?

Community Answer

Yes, many people have become billionaires at young ages.

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Question

Can artists become billionaires?

Community Answer

Yes, it is possible for artists to become billionaires, but most artists do not make that much money.

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Question

Can I be billionaire if I set up a bakery?

Community Answer

It is possible, but highly unlikely. If you wanted to reach billions, you would have to open a chain of bakeries. Even then, it is extremely unlikely. However, if you follow your dreams and work hard, you can do anything.

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Question

Where can I learn about stocks and the stock market for a more precise and successful investment?

Donagan

Top Answerer

Read biographies of and advice from current billionaires.

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Question

Can you be a billionaire with out going to bussiness school?

Donagan

Top Answerer

Absolutely. It simply takes a huge amount of extremely hard and amazingly smart work.

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Question

Do you think I could be rich by selling lemonade?

Community Answer

Probably not; selling lemonade is a good start for kids who are interested in business, but it's not a great long term plan.

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