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Heh, I decided to take a look and see if one of my darker hunches might be worthwhile: "After technology, real estate produced the next largest group of self-m

Heh, I decided to take a look and see if one of my darker hunches might be worthwhile: "After technology, real estate produced the next largest group of self-made Forbes 400 members." Yeah I get that real estate is a good business to amass large scales of wealth. From what I've studied about money laundering, real estate is the most advantageous method for cleaning up dirty money...I'm not accusing all of the self-made real estate moguls of money laundering, but I'd be suspicious that not all of them saved up their tips from working minimum wage jobs to get their start.

kamaal 12y ago
Historically speaking, Real estate would come out as the best bet for getting rich. Gold would be the next best thing. Real estate is also a very good vehicle to medium level riches. And the best part of real estate like every other investment is. Most people don't realize how good it is until more than half their life is spent. At that point, the entry price of that arena is generally quite high and given all the family responsibilities and other expenses(Health, education and your own retirement) the level is prohibitive enough for most people to not even try. This means people who make these investments early on in their lives(in their 20's) are best positioned to reap rewards from real estate investments.
lkbm 12y ago
Not minimum-wage, no. More likely a lawyer (or banker or doctor or programmer) earns $100k+/yr., invests in real estate, and ends up a real estate millionaire/billionaire. When you look at the end millions, the initial few hundred thousand seem inconsequential, but it's a lot easier to get there if you can invest $100k/yr rather than from $5k/yr. (Saving $5k/yr while earning minimum wage is difficult. Saving $100k/yr. while earning $150k/yr., not so much--assuming all these earnings are after taxes.)

kamaal 12y ago

Historically speaking, Real estate would come out as the best bet for getting rich. Gold would be the next best thing. Real estate is also a very good vehicle to medium level riches. And the best part of real estate like every other investment is. Most people don't realize how good it is until more than half their life is spent. At that point, the entry price of that arena is generally quite high and given all the family responsibilities and other expenses(Health, education and your own retirement) the level is prohibitive enough for most people to not even try. This means people who make these investments early on in their lives(in their 20's) are best positioned to reap rewards from real estate investments.

lkbm 12y ago

Not minimum-wage, no. More likely a lawyer (or banker or doctor or programmer) earns $100k+/yr., invests in real estate, and ends up a real estate millionaire/billionaire. When you look at the end millions, the initial few hundred thousand seem inconsequential, but it's a lot easier to get there if you can invest $100k/yr rather than from $5k/yr. (Saving $5k/yr while earning minimum wage is difficult. Saving $100k/yr. while earning $150k/yr., not so much--assuming all these earnings are after taxes.)