8 answers
jasmine
Student
Newmarket, Ontario, Canada
2
Questions
Asked
1006 views
How can I learn to make a lot of money as a 16 year old that doesn't have a specific passion?
How do I skip all the bs (university, Amazon affiliates etc)and get straight into the nitty gritty of money making (as a 16 y/o) #money
8 answers
Bobby Kwan
Design Strategist
2
Answers
Fairfax, Virginia
Updated
Bobby’s Answer
The short truth is that unless you're born into it, making money isn't as simple or as easy as "skipping past the BS", and as a 16 year old, you're not going to make a lot of money right now. It's just not going to happen and the best advice I have is to get that thought out of your head.
You need to put in the hard work to build a sustainable model for yourself or else you're going to go through life bouncing between a series of small, short-term wins only. If you don't have a solid foundation, these small wins you might have now will dry up over time and you'll be left with nothing in the future.
University or formal education might not be for everyone, but you need to always keep an open mind, always soak up new experiences and realize that you have to keep on learning in order to grow. Stay in school now and take it seriously - don't dismiss the idea of higher education just yet either. Get a part-time job so you understand what it means to make money in the first place. You might not have passions now, but you're young so you need to open yourself up to these experiences so you can learn more about yourself, what you enjoy, and what you can grow into.
You need to put in the hard work to build a sustainable model for yourself or else you're going to go through life bouncing between a series of small, short-term wins only. If you don't have a solid foundation, these small wins you might have now will dry up over time and you'll be left with nothing in the future.
University or formal education might not be for everyone, but you need to always keep an open mind, always soak up new experiences and realize that you have to keep on learning in order to grow. Stay in school now and take it seriously - don't dismiss the idea of higher education just yet either. Get a part-time job so you understand what it means to make money in the first place. You might not have passions now, but you're young so you need to open yourself up to these experiences so you can learn more about yourself, what you enjoy, and what you can grow into.
Jennifer Bengel
Administrative Support & Project Management
3
Answers
Wylie, Texas
Updated
Jennifer’s Answer
Hi Jasmine!
This is a great question yet tough to get a straight answer or opinion. :) While making money is important and it helps you drive towards other opportunities, it is also good to try to find your passion. Not everyone knows what they want in life when you are 16, I promise, time will help. Actively research jobs or opportunities that you might want to try out, you have to start somewhere and obtain skills and knowledge in order to better yourself. There are many avenues around investing but... you need to make money to invest it. You will understand once you start earning money and have that little extra in your pocket but always be mindful of 'spending'. Write things down, write what's on your mind of jobs you might be interested in, maybe set a goal on what you want to work towards, or what you may want to purchase first when you have a specific amount of money. Remember you may need to always start low then work your way up, it takes time and a lot of patience yet do not let yourself get discouraged! You will find something that makes your heart happy and gives you motivation to work harder to improve. Keep it simple at first and always communicate.
Best of luck, keep that drive to make money!
Thanks for the opportunity to answer your question.
Jennifer B.
This is a great question yet tough to get a straight answer or opinion. :) While making money is important and it helps you drive towards other opportunities, it is also good to try to find your passion. Not everyone knows what they want in life when you are 16, I promise, time will help. Actively research jobs or opportunities that you might want to try out, you have to start somewhere and obtain skills and knowledge in order to better yourself. There are many avenues around investing but... you need to make money to invest it. You will understand once you start earning money and have that little extra in your pocket but always be mindful of 'spending'. Write things down, write what's on your mind of jobs you might be interested in, maybe set a goal on what you want to work towards, or what you may want to purchase first when you have a specific amount of money. Remember you may need to always start low then work your way up, it takes time and a lot of patience yet do not let yourself get discouraged! You will find something that makes your heart happy and gives you motivation to work harder to improve. Keep it simple at first and always communicate.
Best of luck, keep that drive to make money!
Thanks for the opportunity to answer your question.
Jennifer B.
Desiree Giler Mann
Attorney
166
Answers
New York, New York
Updated
Desiree’s Answer
Hey Jasmine. I appreciate your question and your candor. First, allow me to say that everything others have said here about INVESTING is super important. You don't want to just make money; rather, you want to build wealth.
I get that, at 16yo, you aren't particularly interested in college and you haven't yet found your passion. Allow me to suggestion that university is one way to get an education and, at a liberal arts school, try different fields to see if they interest you. It's a place to open your mind to new ideas, including new career paths. Many people dropped out of university to follow their passions - see https://mx.ditchthelabel.org/10-college-dropouts-successful-af/ -- but one can ask the basic question: would they have found their passion without going to university?
Lots of people have charted their own path to fortune, without going the traditional route (see https://blog.cheapism.com/billionaires-without-college-degrees/# ); however, most of them have clear passion -- enhanced by skill and a little bit of luck! As suggested by others in the forum, perhaps reading their biographies will help you understand their paths better.
Without passion - which I would suggest is a proxy for drive, ambition, learning, networking, commitment and follow-through for a specific purpose -- I think it's unrealistic to expect anyone to be motivated to work hard, often with great personal sacrifice, to become truly wealthy. Why don't you explore your interests more deeply to see if there are nuggets of passion there - or explore (virtually or in reality, when COVID-safe!) the world more broadly for inspiration that may trigger your passion. In many ways, that's what U.S. colleges and universities try to do: expand your world view. So don't completely dismiss the idea of college and certainly plan to continue your education and learning in some form or another, even once you're on the road to wealth.
Also note that passions may change and evolve with time. It's okay to pivot - you'll see that in may of the examples in the links I provided. Also, look at so called "serial entrepreneurs" that move from one business to the next, see https://www.investopedia.com/articles/personal-finance/083115/worlds-top-10-serial-entrepreneurs.asp
Research how truly wealthy people made their fortunes - search on-line, read biographies/autobiographies.
Learn about investing for long term wealth.
Prepare to be a life-long learner, even if not through a formal college education.
Research serial entrepeneurs
Don't dismiss college/university which can help you find your passion (or at least your first career path!), network, reinforce solid learning you'll need for life and open some door for you.
I get that, at 16yo, you aren't particularly interested in college and you haven't yet found your passion. Allow me to suggestion that university is one way to get an education and, at a liberal arts school, try different fields to see if they interest you. It's a place to open your mind to new ideas, including new career paths. Many people dropped out of university to follow their passions - see https://mx.ditchthelabel.org/10-college-dropouts-successful-af/ -- but one can ask the basic question: would they have found their passion without going to university?
Lots of people have charted their own path to fortune, without going the traditional route (see https://blog.cheapism.com/billionaires-without-college-degrees/# ); however, most of them have clear passion -- enhanced by skill and a little bit of luck! As suggested by others in the forum, perhaps reading their biographies will help you understand their paths better.
Without passion - which I would suggest is a proxy for drive, ambition, learning, networking, commitment and follow-through for a specific purpose -- I think it's unrealistic to expect anyone to be motivated to work hard, often with great personal sacrifice, to become truly wealthy. Why don't you explore your interests more deeply to see if there are nuggets of passion there - or explore (virtually or in reality, when COVID-safe!) the world more broadly for inspiration that may trigger your passion. In many ways, that's what U.S. colleges and universities try to do: expand your world view. So don't completely dismiss the idea of college and certainly plan to continue your education and learning in some form or another, even once you're on the road to wealth.
Also note that passions may change and evolve with time. It's okay to pivot - you'll see that in may of the examples in the links I provided. Also, look at so called "serial entrepreneurs" that move from one business to the next, see https://www.investopedia.com/articles/personal-finance/083115/worlds-top-10-serial-entrepreneurs.asp
Desiree recommends the following next steps:
Really strong advice here, lots of resources and things to think through.
Terence Cheung
ajay padmanabhan
NE
3
Answers
Bengaluru, Karnataka, India
Updated
ajay’s Answer
great and right question .
you Just have to follow the business people who made Billions.
read Biography of Billionaire's.
Once you understand what are all they have gone through to get to this place today, you will not have this question any more.
you Just have to follow the business people who made Billions.
read Biography of Billionaire's.
Once you understand what are all they have gone through to get to this place today, you will not have this question any more.
Ginamarie Creek
Business Development Manager
5
Answers
Philadelphia, Pennsylvania
Updated
Ginamarie’s Answer
One of the best pieces of advice someone ever gave me was to not only focus on making money, but to focus on saving money too. That is how you truly build a stable financial future. I highly recommend the book "The Best INvestment Guide You'll Ever Read" by Andrew Tobias" which discusses this topic in detail.
Samantha Evans
Project Analyst
6
Answers
Washington, Washington
Updated
Samantha’s Answer
Start with the basics! To start, find an easy job that hires young professionals (retail, food industry etc) to start building your resume. While attending university might not be the path you want to take, you WILL need to start building your skill sets and resume.
And don't rule out attending school or earning certificates - that's what gets you noticed for long term careers. Best of luck to you.
And don't rule out attending school or earning certificates - that's what gets you noticed for long term careers. Best of luck to you.
Caroline Fogg
Designer
6
Answers
Arlington, Virginia
Updated
Caroline’s Answer
Hi Jasmine,
Learn as much as you can about personal finance, investing, and saving for retirement. Investing any money you're making now, will help you so much in the future - but I cannot stress you'll need to research as much as you can and be patient. The markets will always go up and down, but you will be in a much better place later down the road if you invest sooner than later.
I hope this helps - good luck! More women need to get involved in investing money and encouraging other women to invest too.
Caroline
Learn as much as you can about personal finance, investing, and saving for retirement. Investing any money you're making now, will help you so much in the future - but I cannot stress you'll need to research as much as you can and be patient. The markets will always go up and down, but you will be in a much better place later down the road if you invest sooner than later.
I hope this helps - good luck! More women need to get involved in investing money and encouraging other women to invest too.
Caroline
Aditi Agarkhed
Alternative Investments Intern
11
Answers
Lawrence Township, New Jersey
Updated
Aditi’s Answer
For now, I think you should focus on getting a job in your area and making money that way. In the long term, try and learn more about investing. This is a great way to learn more about finance and make some money. It is also really important to learn about saving money. I also think you shouldn't rule out college, it is very helpful and will help you stand out.
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