General Question

omg_dung's avatar

I need to make about $100,000 in 4 years... How do I do it?

Asked by omg_dung (150points) September 14th, 2010

I’m saving up for a trip around the world when I turn 18. Based on the places I want to go, and how long I want to be gone, I estimated it will take somewhere around $100,000… How do I make this much money in only 4 years?

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22 Answers

BarnacleBill's avatar

You don’t need $100,000 to go around the world. You need an around the world airline ticket, railway passes, itinerary, a list of hostels, a backpack, and several practice trips to Europe during high school.

If you’re planning on being gone longer than 3 months, you might want to look at regional employment or volunteer opportunities to mitigate the cost. If you are planning on going to college, there are also study abroad programs at universities that allow you to live in another country and attend school for a semester or a year. If you get great grades, the university may pay to send you there.

syz's avatar

As a 14 year old, your chances of earning (and saving) $25,000 a year are damn slim. I would second @BarnacleBill and suggest that you look for more realistic options. There’s nothing wrong with having dreams, the trick is in figuring out how to make them come true.

Response moderated (Unhelpful)
Vortico's avatar

Not to say you aren’t dedicated enough, but you may have other interests or needs when you turn 18. One hundred grand would get you a ride into a broad range of universities, a reliable car, and great financial confidence. If travel is a passion, I recommend you take it slowly and spread the visits to other countries throughout many years. This would allow you to keep a full-time career after college and maintain financially stable while allowing you to live out your passion.

iamthemob's avatar

I don’t know – the likelihood of making $100,000 go up significantly when you take into account that there’s no rent payment, no food payment, and no general costs (if that’s your situation).

But you’d pretty much need to get a full-time job to guarantee this (which there may be laws against in your state considering your age). The one thing that you really have to do, unfortunately because it entails risk, is invest nearly all the money you make in a way that the money will work too.

That is a lot, and I would consider altering your plans as the better option.

Neizvestnaya's avatar

Turn 18 then go sell cars for two years while you live at home and incur no expenses. You’ll make that amount of take home (after tax) money in two years.

Randy's avatar

You would have to make $480.769 (after taxes) a week for the next four years and not spend a DIME of it to achieve your goal. Most people over the age of 21 have a hard time making that. Your chances are even slimmer. Not to mention, you couldn’t even afford to buy a pack of gum for four years. When I was 16, which was only 7 years ago, I had a job working 35–45 hours a week while I went to school and I would pull $250—$300 a week max. It was decent money at that age but working pretty much full time and going to school was horrible. Your goal seems slightly unrealistic at this point in your life. You should rethink your schedule and maybe delay your trip for an extra 2–4 years to help you collect costs.

Start now and do whatever you can for cash and only buy things you have to have.

Ben_Dover's avatar

Mow lawns. I was earning $2500 a month using only a gas mower (push model), weedeater, and a gas blower. And a to cart them all around.

Response moderated (Off-Topic)
BarnacleBill's avatar

Perhaps you could cut a deal with your parents that if you get a full ride to college, they will pay for the trip.

Ltryptophan's avatar

Garage sales, maybe you’ll get lucky.

CaptainHarley's avatar

Extreme frugality and highly disciplined saving. Don’t buy, or eat, or wear anything you can afford to do without. Research ways to avoid expenses. Don’t live anywhere that costs more than basic shelter. Dont even own a car. Walk or ride a bike everywhere you go. Invest everything you can in small, easily exchangeable gold coins. Do not get married and do not have children.

Pandora's avatar

Join the peace corp, your trips are paid for. :)
Or join the military. You can also travel and maybe save some money for school.
or do as @BarnacleBill suggest.
If I knew an easy way to make that amount of money without being taxed, and it not be illegal, than I would’ve done it some time ago.

wundayatta's avatar

I look at questions like these, and I think that there’s really only one valuable commodity that everyone has—and that is your body. But it’s usually kids who ask these questions, and I’m guessing they have no idea what money is worth, or how to budget, nor many salable skills.

If there were a fourteen year old who was already making a lot of money, say by being an actor, they wouldn’t ask this question. So that generally means little education and skills. And really, the only option for someone with little education and skills is to sell their body.

Again, if someone had whatever it takes to make a lot of money at a young age, they wouldn’t ask this question. Since it is asked, it is reasonable, I think, to assume little education or skill. So if they are serious about making money, they will probably have to do it illegally. Better to revise your goals.

eadinad's avatar

Look into WWOOFing. You can work on a farm in locations all over the world, which will allow you to have a “home base” for free. Pick a central European country and you can take weekend or “week off” excursions all over the place.

Nially_Bob's avatar

Most have already made valid points; the only thing I have left to add is that there are various organisations out there who can assist for free or by making you work such as WWOOFing, overseas charities, etc. Research will pay off more than finances.

Ltryptophan's avatar

How about you promote your trip. Not everyone wants to travel around the world. Make a website. Put a contribution thermostat on it. Make t-shirts. Promise to film your trip as you go. Maybe you could promise contributors of certain legs of the trip that you will bring back something special: Glacial waters, a rare tea leaf from deep within China, a platypus whisker. Film your trip, and promise to make frequent video updates. Make a blog with a contribution button, and talk about what you’re doing everyday to make this a reality. Show what you are contributing and what others are contributing. Don’t limit what you accept to money as contributions…if you can turn something into money. Maybe someone will give a free massage to someone for your trip, and you can give that for a $50 donation.

I don’t know the tax repercussions of this advice.

Set up a paypal account, I’ll contribute $1.

ftp901's avatar

This is basically not possible unless you become a child star. If it were possible, I’d be in Fiji right now, all of us would. When you’re 14, you have a dream of what life will be like when you grow up (awesome condo in New York, trips around the world, amazing job that involves doing something you love like travellling, etc.) and when you grow up, you realize there is a reason why all the people around you work non-stop at jobs they hate and never go on vacation. But that might not happen to you – you might make a great escape.

judochop's avatar

learn some HTML skills and build yourself a donation site. Keep it updated and post videos about random BS on YouTube. Who knows. Maybe Angelina will have a bleeding heart for you and pay for it. I’ve heard of this working for lots of things. Trick is…’re going to have to learn marketing at a very young age.
make sure you get a Flip Video sponsership and record yourself working hard and tell them you are going to video blog the trip on YouTube, etc. You get the point.

Ltryptophan's avatar

@judochop seems to agree avec moi, n’est pas…

judochop's avatar

Wasthat said already? I’m on my cellphone. The font is the size of a sugar ant.

toaster's avatar

Someone, or other listed in the thread already stated how this could be interpreted under a purely net income approach which radically strengthens your odds. Lord knows I wish I could turn back time to when my parents started a joint stock account under my name. I was mostly invested in tech firms and this was in the bubble era before the crash of nasdaq. It was an emotional rollercoaster.. All in all in you talked with your parents on saving money and invested in mutual funds, or something with diversity but historically stated as having marked growth the probability isnt in the least astronomical.,
Aside from your very optimistic aspirations I will tell you getting in the financial game four years early will provide you with ridiculously higher chances on striking it rich, THIS I can almost purely guarantee you.

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