Hello world,
Surprinsingly there's no info. about this topic in the forum. That's why I'm starting this discussion.
I'm about to graduate University, (I'm taking IT Degree) in a year and there is no way a young graduate can make the kind of money for this surgery especially when you are from a country where the currency is terribly weak.
My plan is to get additional worthy qualifications such as Oracle certification, Microsoft Certification & CCNA Certification then I move to a country where the economy is strong so I can work and earn a strong currency. Additionally, I will need to live frugally and look to invest in stocks, bonds or mutual funds with satisfactory returns.
I'm expecting to get more than enough for my surgery after 2 years of working hard, investing and saving money. If I earn a strong currency I could simply have the surgery in a country where the currency is weaker.
Do you have any suggestions for me? This is the only viable solution I thought for me otherwise this surgery is near impossible for me to afford.
Quote from: CCMidwest on July 21, 2016, 04:34:49 PMOh man, my favorite topic...investing.
If LL is that important, do NOT put *ANY* LL money into a stock, bond, mutual fund (stocks again), property, peer to peer lending, or any other investment vehicle that is not liquid.
That's a good point. I'll consult a Financial Adviser to give me more insights about this.
Quote from: Razorfin on July 21, 2016, 11:17:06 PMRead 'The Intelligent Investor' by Benjamin Graham .. you'll soon learn that there is no such thing as a guaranteed return on a 2 year investment .. only 2 years worth of uncertain speculation.
You're best bet is to become a programmer and work freelance, or a salesman within a technical field.
I've just looked up the book, will be reading it. Programming is something that doesn't appeal to me. Why do you think Programming and sales in technical field are my best bet? And where?[/color]
QuoteEspecially when you first start investing, never invest money that you can't lose.
Truly speaking I can't lose any hard-earned money. I intend to take the risk in order to "grow" money.
I only need just about enough to cover the surgery+ expenses, specifically + - U$ 25000 or € 22800 would do wonders.
To make this money two years time seems like a far-fetched thinking especially with the terrible economy worldwide.
I will need a job because of steady income, I do work as a freelance designer - the problem is that very few companies will take seriously a young entrepeneur and you can go for months without a single client and I have bills to pay.
This kind of "work" is only suitable as a secondary income source.
The same applies to starting own business: One needs lots of start-up capital and it takes +- 5 years to break even IF the business survives. Companies pay peanuts to young graduates with no job experience.
I ran out of options, I cannot think of how I can make that much money within 2 years. I'll continue researching there's got to be a way out.
QuoteGood returns are few and far between, and it is VERY easy to lose large amounts of money right now.
As an example, I had a commodity trade go south on me last month. I lost $70,000 in the course of an afternoon...
My goodness, you've lost a lot of money. Why did you lose that large sum of money? Since this is your area if expertise, could you not have identified the "bad" stocks & bonds?
Do you only invest in US market or internationally? What about "tax heaven" and offshore companies?
What's your opinion on Unit Trust ?
Quote from: LifeReloaded on July 23, 2016, 02:06:15 AMstart up a business
identify needs and problems in your field (IT) and make a plan of how you're going to attack the problem and formulate a product. get creative.
Quote from: Sconosciuto on July 22, 2016, 05:18:08 PM
The same applies to starting own business: One needs lots of start-up capital and it takes +- 5 years to break even IF the business survives.
Quote from: CCMidwestLord knows I enjoy talking about money and investing (almost as much as I enjoy talking about women), but are you taking any of the above advice to heart?
From what I gather about your current financial situation, this is by far the best advice you are going to get...
Edit: Happy to help though man, don't get me wrong.
Based on inputs on this thread, I finally came to a decision.
Finish my IT degree + complete other qualifications I mentioned. Then move to a country that is "stable" and has a strong currency, possible options are :
UK- £ 1 = US$1.42
US - California (the country is currently very unstable)
E.U. - € 1 = US$1.09
Kuwait - 1 KWD = US$3.28
Canada - CAD 1 = US$ 0.76
Those are currently some of the strongest currencies worldwide. Now another huge obstacle is those countries' tough immigration laws and labor laws. I will sign up on an expat forum in order to discuss it with other expats in those countries. I'll learn from them what I am supposed to do. I will also look to connect with successful expats and locals. Good contacts are crucial.
Quote from: Tnak10 on July 23, 2016, 09:38:50 AMIf you want very high salary the quickest possible, the best way is actually to be admitted and to find a job in very rich European countries such as Norway and Switzerland. It doesn't have Euro but their currency is the strongest abroad and their salaries the highest in the world. For example, in Switzerland the AVERAGE wage is around 4200 euros without taxes, it's about two times U.K.'s or France's. Don't go to U.K., moreover the life there is creepingly expensive.
1- The only possible way I of me working there is if an international company like Google or Microsoft hired me. There's no way a local company would hire a foreigner especially from Africa.
2-I read that Norway has a very high cost of living, you earn a lot but you also spend a lot.
Quote from: CCMidwestHaha, that's one of the smaller amounts I've lost very quickly.
What the hell? Is your networth 7 figures? Why is someone of this caliber frequenting internet forums?
Quote from: CCMidwest on July 23, 2016, 12:42:31 PMThat's "doingitforme" that you are thinking of. It sounds like DIFM's hard work and tenacity really paid off for him. That's great!
I've just skimmed through his diary. He was awfully vague about what he did or how his app became profitable. He mentioned he spent US$ 100K on his surgey+ expenses! I looked up the revenue models of apps but nothing justified, he might have built something mind-blowing, original and out-of-the-box novelty .
This might be an excellent alternative to the uncertainty of finding a high-paying job abroad.
I need to be acquainted to revenue models and monetization of apps then I'll teach myself how to build apps not just any app, it must be something original. I might need to travel to USA after I'm done. This is how bad I want this surgery.
Quote from: CCMidwest on July 23, 2016, 12:42:31 PMThat's "doingitforme" that you are thinking of. It sounds like DIFM's hard work and tenacity really paid off for him. That's great!
I've just skimmed through his diary. He was awfully vague about what he did or how his app became profitable. He mentioned he spent US$ 100K on his surgey+ expenses! I looked up the revenue models of apps but nothing justified, he might have built something mind-blowing, original and out-of-the-box novelty .
This might be an excellent alternative to the uncertainty of finding a high-paying job abroad.
I need to be acquainted to revenue models and monetization of apps then I'll teach myself how to build apps not just any app, it must be something original. I might need to travel to USA after I'm done. This is how bad I want this surgery.
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