How to get rich - without getting lucky:

(Naval's thread was awesome but this is mine)


Yeah I said it

A solid 9-5 for benefits, socializing with people, getting ideas, etc. You can always cut back your hours later

Most importantly- BE UNDEREMPLOYED

Don't be the guy working 80 hours a week trying to get a 4% raise

Save your energy for your...

- Flipping
- Affiliate Marketing
- Private label brand
- Selling Yugioh cards
- Breeding Alpacas

Whatever is, be the best you can be at it. Know it inside and out.

Figure out the best way to monetize it and stand out by doing it differently than everyone else

While you're doing all this, INVEST

Invest at least 10% of your 9-5 paycheck; more if you can

Take 50%+ of your side hustle profits and invest that too

9-5 money + Side Hustle money is a beautiful combo

"b-b-b-bUt mY pArEntS diDn'T tEaCh mE tO iNvEsT"
I don't care. Learn it. This is a necessary step.

For $20 on Gumroad or free on Youtube you can watch a few videos and figure it out

The OG said it perfectly:

โ€œIf you don't find a way to make money while you sleep, you will work until you die.โ€

โ€• Warren Buffett
Ok you want specifics

Start with Index ETF's. Get used to watching your balance change every day

Automate your investing. If the money comes out of your paycheck before it even hits your bank account, you're less likely to spend it on junk
Then experiment with whatever floats your boat

- dividend stocks
- growth stocks
- value stocks
- crypto

Pick the one that fits your style and goals

This is what works for me:
Some growth stocks.
Some swing trading for fun.
And a lot of dividend stocks. Why?

Because they pay me in cash. Then I reinvest that cash and watch it grow.

The more I reinvest, the more it grows.

It's motivating
+ Investing
+ Side Hustle Income
+ Dividend Reinvesting
+ Covered Call Income

Keep reinvesting all of these - it's like compounding on steroids

This is my formula for getting rich - without getting lucky.

โ€ข โ€ข โ€ข

Missing some Tweet in this thread? You can try to force a refresh

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @BusinessFamous

1 Oct 20

Top 10 Nipsey Hussle Quotes for Money Twitter

Nipsey was a rapper and entrepreneur, who even founded his own record label with earnings from his music

Talk about a side hustle!


โ€œI want to invest in assets as opposed to trick off my money on liabilities like diamonds and cars that lose value as soon as you drive it off the lot.

It looks good, but... itโ€™s losing value. Itโ€™s depreciating not appreciating.โ€

Make your money make more money!

Out the garage is how you end up in charge
It's how you end up in penthouses, end up in cars
It's how you start off a curb server, end up a boss
It's how you win the whole thing and lift up a cigar
With sweat drippin' down your face cuz the mission was hard

Embrace the grind
Read 11 tweets
27 Sep 20
Qualified Dividends


Ordinary Dividends

Q: What's the difference?

A: 10-19% tax savings on your dividends!


What is a Qualified Dividend?

It's the same as an Ordinary Dividend except it's taxed at a lower federal rate

An Ordinary Dividend becomes a Qualified Dividend when you hold the stock for 60 days out of the 121 day period before the ex-dividend date

Here's the tax rates ๐Ÿ‘‡ Image
For example:

If a stock's ex-dividend date is Oct 1, you have to hold it for 60 days of the 121 days surrounding the ex-dividend date:

Aug 2

Oct 1 (ex-dividend date)

Nov 30

(Aug 2 to Nov 30 = 121 days)
Read 6 tweets
31 Aug 20

๐Ÿ™ Thanks so much to you all!

I love the support we all give each other on this side of Twitter

I'll share a story of how I bet on myself and hopefully inspire at least one of you to do the same

[An autobiographical thread]
Seems like a lifetime ago, I took a steady office job at a medium size family owned company.

I was making $13/hour and was happy about that.

But immediately I felt the disappointment of having an unqualified manager, only in charge bc of tenure

I promised myself I'd stay...
...only until I finished my Bachelor's (was taking night classes)

When I finally graduated, the economy started a downward spiral, so I felt stuck

I'm now 5 years into this job - performing fine but definitely not doing anything extra.

I've gone from $13/hr to...
Read 11 tweets
30 Aug 20

๐—ง๐—ผ๐—ฝ ๐Ÿญ๐Ÿฌ ๐——๐—ฟ๐—ฎ๐—ธ๐—ฒ ๐—ค๐˜‚๐—ผ๐˜๐—ฒ๐˜€ for Money Twitter

Aubrey Drake Graham is a biracial rapper from Toronto who has amassed a $150 Million fortune

#3 highest earning rapper

His businesses include a record label & a whiskey brand

What can we learn from Drake?


"Nowadays itโ€™s six-figures when they tax me/ Oh well, guess you lose some and win some, long as the outcome is income."

One big excuse we see around here is "If I make more money, I'll just have to pay more taxes"

So what? It's still more than you had before...

"Iโ€™m 23 with a money tree/ Growing more too; I just planted a 100 seeds."

One great thing about our corner of Twitter is that there are so many people starting young. Investing/ ecommerce/ SEO / flipping - you name it

Investing at a young age can set you up for life
Read 12 tweets
20 Aug 20
Q: What are fractional shares and why do they matter?

A: Fractional shares lets you buy shares of stock in small increments

For example, you could buy $1 worth of Apple stock instead of saving up $462 for 1 full share

Why should you care?

There are 2 main reasons why companies DON'T split shares

1. Some companies believe a high share price brings a level of prestige

2. Warren Buffett famously said he'll never split Berkshire A-Class stock bc he wants to attract only "like minded" investors

That means - not you
Today, Buffett's company, Berkshire Hathaway is $310,800 per share

Normally, you'd have to save up $310k to buy 1 full share through your broker

But with fractional shares, you can buy as little as $1 worth, or .000003 shares
Read 6 tweets
27 Jul 20

Tech stocks have not been known to be dividend payers -

But there are some established tech companies who do!

Here are 7 tech stocks worthy of consideration:

Cisco has been paying dividends since 2011

Ticker: $CSCO
Price: $46.71
Yield: 3.10%
Intel is THE brand in computer chips, you've probably owned a computer with Intel Inside

Ticker: $INTC
Price: $50.47
Yield: 2.61%
Read 9 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!