Hey /biz/ is my plan realistic?
Make a million bucks through Ebay flipping, fx trading, stock trading, and other ventures.
Then reinvest said money into high dividend paying stocks and other investments that give out returns, then travel the world with what I make from that.
Is it possible?
Is it possible to live , and travel, off the interest on a million bucks? Of course it is.
Getting the million is the hard part, and "ebay flipping, fx trading, stock trading, and other ventures" is not even close to a plan, you might as well say your plan is "to make profits".
People like to hate on 4chan, but I'm guessing you're rather young, in which case, you already have the good frame of mind. Execution is another matter, and will take a bit more thought and effort.
Also, you don't need a million to live off of. 5% interest (very conservative) on $400,000 is $20,000 a year. If you're smart enough to stay away from big cities, that would get you a nice quality of life, especially if you spend 6 month of the year in countries where $300/month is plenty.
With this plan, aren't you basically saying "you can live a minimum wage lifestyle without working"?
Because given what OP is saying, it doesn't sound like that's going to cut it for them.
You can live off of $0 per year. All that you have to do is live in a national park, steal shit from camp sites, eventually you'll steal a gun or something, and then kill wild life in the park. If you pick the right park and cover your tracks well, then you'll never be caught. A guy did this before and was caught after thirty years. It was only after he broke into a place that had a silent alarm that he was caught. So he was only caught because he got too risky with his thievery.
This. No matter what people on /biz/ tell you, the asset that you have that's much more valuable than one million dollars is youth.
The most scarce resource that you have at your disposal at the moment is age. You can gain money, but you can't gain years back on your life. So answer this question, "What can I do with the time that I have that will ultimately lead me to gain money?"
So it seems like you already have tried to answer this question, but the answer is wrong. Before you try to do something, you should know the pitfalls and risks of doing it. Ebay, forex, and other bullshit just told me that you're only looking for quick money. Everyone is, but if you just take two to three years to reach a goal in something that you can find that has a great chance at making worthwhile money, then ultimately you will be far more successful in it.
Pro-tip: 90% of people lose 90% of their money in less than 90 days trading forex. You're playing a game against a quant firm. The only reason why 10% of people come out on top is because they're lucky that their sheer ignorance and irrationality was an outlier in some quant's analysis.
Save yourself time by just doing a Google search on, "Why I shouldn't trade forex" or "The pitfalls of selling shit on ebay"
For Ebay, you'll be competing against some fuck who will price gouge you and the ebay fees. Just look at the ebay thread on here and you'll find that people have to literally pinch pennies to make slim profits.
No you're plan is fucking stupid and sounds like an amalgamation of shitty biz threads rolled into one. If this is a troll or meta commentary on this board then well done. Otherwise take a step back and quit being retarded.
Let say that you manage to execute the flipping part right ans made $1m.
Why won't you employ a manager for $100k to keep on making another million for you?
You think Wall street is safer?
OP here, you anons are right I am fairly young and currently thinking of what I want to do as college seems to be creeping up around the corner.
I have no interest in settling down with anyone and going to a job everyday to support a family. But what I do want to do is travel on my own.
Basically what I want to do but just 20k isn't enough for me. I'm thinking between 50k or even if I can six figures. That'd be enough for me to travel as I please and send some to my parents and what not.