So everyone always saying, let your money work for you. But

>>1501165
One cent.

>>1501165

Make your mouth work for you

>>1501165
Well a good pair of kneepads will only set you back about $20, so $20 and your money should be able to work for you.

About $2 million, at the least.

>>1501166
This. Every little bit helps

>>1501165
>But in reality how much money does one need so that it can "work" for you.
about $500k

200k

>>1502204
>>1502230
it actually depends i think on where you live.
in my country you only need $200k to make a start at money working for you, but in the us it's at least $500k as everything is more expensive. of course if you move into a rural area where living is cheap your money can work much more effectively for you.

if the usual 4% "safe withdrawal rate" can be reduced to 1-2% then you would be hard put not to get richer and richer while doing nothing.

I would say as little as 20 bucks. But what you're able to do with it is limited. You can do a microlending to a friend or aquaintance and say you have this time to pay me back 25 dollars. That's ROT that's better than having it sit in savings. You can also buy something cheap that you know someone else wants to buy for more. All of these require some amount of work but your money is doing the heavy lifting.

>>1502247
nah dude letting your money work for you implies that you don't work for money anymore.
yeah unless your wealth provides a passive or semi-passive living without employment and without erosion you are still working for money.

>>1502268
an other approach would be to set a hourly wage for yourself (based on for how much money you would be willing to work more hours beside your job), and if your wealth produces you more money after taxes and expenses than the time cost you spent managing it, then your money is working for you. but unless the difference is significant enough it's a bit pretentious to talk about such things. you also need to offset the happiness decrease caused by withheld spending to justify your efforts.

Let's say you have $5k in the bank, work part-time and go to school full-time. What can be done to increase your money? Now I'm not saying go from 5k to a million, I'm saying go from 5k to like idk 20k is that possible in say a year?

>>1501166
this. every bit of money can work for you. you might not be happy with the *amount* of work, but it's still working.

>>1502323
work on the side, save up. with 5k you can get up to 5.15k in a year. everything above that is gambling.

>>1502385
$150 increase?