I think, if you were serious about it, and had some Chinese help, you could open a small school (otherthanlegal) and with 50-70 kids per week, you could save a million dollars in a year. If it were just yourself, a Chinese teacher and a secretary/art person and low rent…it’s doable.
you could also get another job and do some saturday work and try to bank about 65,000 a month. after a year you would have about 3/4 of a million. It’s not the easy route but thats what most “millionaires” do.
[quote=“dix2111”]you could also get another job and do some saturday work and try to bank about 65,000 a month. after a year you would have about 3/4 of a million. It’s not the easy route but thats what most “millionaires” do.
or you could sell yourself to the old ladies.[/quote]
My first year of marriage I taught 60 hours a week. My wife was working at that time also and so we lived off of her salary and we banked mine. We saved close to 2 million that year. I believe it was around 1.7 to be exact.
Damn near killed me though. But we were so broke at that time we needed a jump start. But we used that money to start investing in property.
I remember the good old days of buying and selling property in Taiwan. Now that was an easy way to make money. Sigh…
[quote=“Durins Bane”][quote=“dix2111”]you could also get another job and do some saturday work and try to bank about 65,000 a month. after a year you would have about 3/4 of a million. It’s not the easy route but thats what most “millionaires” do.
or you could sell yourself to the old ladies.[/quote]
My first year of marriage I taught 60 hours a week. My wife was working at that time also and so we lived off of her salary and we banked mine. We saved close to 2 million that year. I believe it was around 1.7 to be exact.
Damn near killed me though. But we were so broke at that time we needed a jump start. But we used that money to start investing in property.
I remember the good old days of buying and selling property in Taiwan. Now that was an easy way to make money. Sigh… [/quote]
Hmmmmm??
DB, can I have a million dollars please? I’ll be your friend forever?
[quote=“The Gumper”][quote=“Durins Bane”][quote=“dix2111”]you could also get another job and do some saturday work and try to bank about 65,000 a month. after a year you would have about 3/4 of a million. It’s not the easy route but thats what most “millionaires” do.
or you could sell yourself to the old ladies.[/quote]
My first year of marriage I taught 60 hours a week. My wife was working at that time also and so we lived off of her salary and we banked mine. We saved close to 2 million that year. I believe it was around 1.7 to be exact.
Damn near killed me though. But we were so broke at that time we needed a jump start. But we used that money to start investing in property.
I remember the good old days of buying and selling property in Taiwan. Now that was an easy way to make money. Sigh… [/quote]
Hmmmmm??
DB, can I have a million dollars please? I’ll be your friend forever?
How was that?[/quote]
It is gone…all…gone…spent on women, drink, gambling, and chemicals…
[quote=“KenTaiwan98”]Actually, I was trying to get people to think OUT of the box, not in it. Working 60 hours a week is not what I’m currently aiming at.
I’m wondering if there are other ways to do that…!
Kenneth[/quote]
I was talking about 40.
It isn’t out of the box, but it seems feasible.
Besides, if someone had such an idea, I doubt they’d be willing to share it.
[quote]I was trying to think of ways to raise a million or two (not borrow).
If you wanted to raise several million in capital, how would you go about doing it… [/quote]
May I ask why you want to raise a million NT$ so quickly? (Or is there not a time frame for this?)
Do you want to have it to invest in something else–real estate, stocks, mutual funds?
As mentioned in other posts, it would certainly be possible to save a million NT$ by living frugally over the course of a few years. If you have two incomes and no kids then this could probably be done in a year.
But what do you want to do with that lump of money after you have it?
Reselling webhosting: Won’t make me a lot of money quickly, but as I built a bigger client base my monthly/yearly income goes up.
Selling stuff online: This is something I thought I’d never do (and I guess technically I’m not), but a friend made a Chinese language learning game that he left with me (about 100 packs) and has me take orders and ship them for him. So far I’ve sold 5 decks . Now I’m going to take the time to make a proper website and shopping cart so I can streamline the ordering process.
My wife has been the one mailing these out and now that she’s seen me actually do something with the Internet, she wants to too. She’s a part owner of this healthy restaurant place that sells fancy teas, tea pots, cooking wears, these big clay stoves, etc. and now she wants me to help her sell them online (we’re going to start with the tea).
Reselling other softwares: I plan on being a reseller of some software I really like and maybe help getting it localized for the Taiwanese market.
That about does it for webstuff.
One day I hope to open a store that sells “high tech” stuff and I can sit in there playing with things all day.
Don’t know why you chose the number NT1,000,000. That can be saved in a year or 2. My monetary goal is more like NT1,000,000/month (and barely breaking a sweat doing it ).
If you’ve got, or have access to, enough capital then it shouldn’t be too hard. If it’s you doing all the work then a million is a lot of your hours, but if you have money working for you then things get a lot easier.
If you don’t have money of your own then is there any way to get anyone else’s money to work for you? Find a capital organisation that has an under-utilised something or other, and present them with a proposal that will put it to work. And ask for a profit-share.
You have to be creative to achieve this, and think outside the box to find new solutions to problems or spot opportunities that others haven’t. This is the tricky bit, but if it was easy then we would all be doing it.
I’ve been in negotiations for four months with a large corporation to exloit a niche market they haven’t been able to reach in the past. They are making available all sorts of technical facilities that I would never be able to afford on my own, and basically financing me into my own business.
There are all sorts of legal and technical difficulties, as well as the (not so) simple logistics of delivering the service and collecting the money. It’s been a nightmare, and we finally set a date last night to sign the contracts. So I’ve (almost) proven that it’s possible to create opportunities. Now it’s up to me to not balls it up!
If successful then a million is very easily achievable, and the beauty is that, while the amount of work I have to do remains fairly steady, the income rises. I’ve had to risk a lot of time and energy, which could have been put into earning an hourly wage, so I am taking a risk. But I think the risk is worth taking because otherwise I’ll be wage-slaving for the rest of my life.
It’s no secret that I also work with GetSet, a company which advises students on study options in the UK. I know roughly how much they make from that business and how much work they do, and would say that it’s a very profitable little business which requires little more than an office to work from.
I don’t have the capital to set up an office (but Enspyre does ) and I don’t have the connections necessary to get the payment either. But I do have connections with adult buxibans. The buxibans have many students studying IELTS with the ambition of studying in the UK, so it made sense to me for them to work with GetSet.
It’s been a very easy sell so far and the response has almost overwhelmed the office. I’m actually ‘on hold’ at the moment and not introducing any more business until they have hired and trained more staff to deal with the extra work. I set aside five hours a week for that business, and will get paid - eventually - according to how many students take up courses in the UK as a result. I don’t get involved with the ‘operations’ of the business. I don’t counsel students. I don’t handle paperwork. I don’t talk to universities. I just offer free services that buxibans can give to their students, and which generate additional income for the buxibans.
I doubt I’ll make anything like a million from it this year, because we’re a bit late in the season and still developing the relationships and the system. But those agreements will remain in place as long as they remain in everyone’s interest. At the moment I’m working for nothing, but I’m trying to create an income stream that will continue to pay me for years to come.
And in the meantime I still teach 15hrs a week to pay my bills.
This could all change if someone came to me with a buxiban full of kids in search of a summer camp in the UK, or even in the warm part of Australia.