$1,000 Money Challenge
The $1,000 Money Challenge.
This is not a contest, it is a challenge.
I'll make the intro as short and to the point as possible.
Challenge:
How much money can you make in 12 months, starting with $1,000?
Rules:
- You can start with no more than $1,000
- Must be legal
- You can use your $1,000 to contribute to a company, group, or other collective way to make money, but any money over your initial $1,000 must come from some where else. In collective investments, you may only count profits that match the percentage of your initial investment. (Example: You and two other friends all contribute $1,000 to start a food cart. The cart makes a profit of $30,000 over 12 months. Your profit is $10,000 for the purposes of the challenge.)
- You are not restricted to just one transaction. (Example: You spend $800 to build an AR, sell it for $1,300, and it only takes 30 days. You can do this over and over again.) Any money you make off your first $1,000 is fair game for further investments. Using the AR example, you now have $1,300 for your next investment.
Notes:
- This is not an exercise in money management, savings, or wise spending. This is an exercise in making money.
- The goal is to make as much money as possible in 12 months, so buying bonds, contributing to 401ks and IRAs, or any other retirement type of savings/investment will not be likely to yield high results.
- This challenge is to push yourself to learn methods of making money. The idea is that participants can freely share ideas and motivate each other. If you'd rather not share your methods or ideas, that is fine. However, regular status updates would be encouraging for everyone.
- This thread may be used to discuss ideas and encourage each other. Let's try to keep it on topic. Let's see what everyone can do.
Colorado AR-15 Shooters Club Discussion Forums
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Originally Posted by Sharpienads
