Rich people all around me

[Dreamingoftheolddays]

How can I get a peice of it?

I live in a very wealthy area (abroad)
Multimillion pound properties, beautiful cars, boats etc
I see so much of it around me, what work/business can I do to access some of it?
So sick of working my arse off in what used to be a very satisfying and worthwhile profession, but just isn’t anymore.
I’m degree educated and have a fair amount of motivation

This .

The very rich I've met along the way have all been self employed .

I live on a road where all the houses are £1m+ and this is what some of us do (I haven’t got to know everyone)

1. Own multiple businesses (us)
2. female comedian and blogger / influencer
3. author who had books made into Netflix
4. works away doing something big in engineering
5. older retired couple
6. multi generational family
7. widow

I thought when we moved here it would be all stay at home women with husbands with big jobs but it’s not like that at all.

By far the fastest way for you to access what you’re seeing there is to marry into it.

i live in a little rural but naice village, and it’s property here. Nothing more than luck of people who bought before the area became popular. It was until recently one of the cheapest places in the uk. Prices have gone up by a crazy amount since it’s become a tourist destination. Eg friend paid £350k for a house in 2017 now worth over a million. It’s sickening.

No one has ever got rich by asking other people on mumsnet how to get rich either 😀 if you're having to ask on here, I reckon you're not going to make it

Plus , many people make a vey good living by working for other people.

Algarve

Self made millionaires usually start investing very early or as early as possible. Read books about it. Usually you start by living below your means and invest or save smart. Depends on where you live you can achieve it or not. Some countries do not let you as they taxed so much there is nothing left to create wealth. Property is a good way the so called flipping houses but you need to be educated on how to do it.

Fair enough, I guess it just depends on what you consider wealthy. I assumed op was talking about the multi-million level of wealth where you don't even have to work anymore

@trekking1 Yes I’m talking about that level of wealth, seriously wealthy

Going from zero to self-made in one generation is extremely difficult. What you see is usually inherited wealth passed down and multiplied over several generations. For woman, marrying into wealth is arguably the easiest option because the steps required for that are easily accessible (grooming, appearance, dating, etc). The wealthiest friend I know met a old-money heir over a dating app and they're now happily married with kids. She wasn't a gold-digger either, just a normal woman who clicked with this man.

There's also a class of "medium" wealthy which is fairly attainable though the right education. Think doctors, lawyers, business consultants etc. Takes many years of work to get there but most are earning high six figures or over a million per year in their 40s. That's not enough to buy yachts and private jets but it gets you at least a few homes and all the designer clothing, gadgets and luxury holidays you want. The majority of what people think are "rich" people probably belong in that category. They're decked out in designer clothing, luxury watches and bags but they don't actually own yachts and stuff.

Do Drs earn near to a million in their 40’s??!!

Lawyers and bankers definitely do. But not from the Algarve. You’d need to be in London/New York/Hong Kong etc

A specialist who works in the private sector could be making pretty nice money but that’s not the norm. Most consultants do a mix of NHS and private and would be earning c£200 at a guess. It doesn’t involve much swanning around though.

Building a successful business and selling it is the way most of my wealthiest friends or acquaintances have made serious money. Also long term work in finance.

OP you are living in a place that is a tax haven. The money has not been made there, it has been made elsewhere (or inherited, or, frequently, a combination of both) and relocated there for tax reasons.

If you want to make that kind of money you are likely to have to move.

Basically you find ways to....

• scale a lot
• corner a market
• get lucky

Most rich people I know either....

I. Sell something that's highly valued and hard to copy (including deep expertise/qualifications)
II. Spotted a trend early and went all-in on it
III. Developed a niche that others overlook (maybe because it's unglamorous, but there's money in it)
IV. Took a lot of risk
V. Became a senior executive/partner in a large organisation.

Mostly, but not always, it's by working for yourself not as an employee.

I'd suggest first working out what your attitude to risk is, what success means to you, and what keeps you motivated. Then what things you are top 5% at (including things like: ability to stick at X when others give up).

One good one now would be to work out how AI will affect something you understand really well. Then get top 1% knowledgeable/skilled in the practical implications. Then either sell that expertise, set up a business, or trade based on your insights.

Good luck!

That’s a big chip and a monumental slice of ignorance. Maybe educate yourself before you post.

@SlothOnARope

I can see you don’t like criminality (agree) or finance (mostly disagree).

But celebrity is one of the most justifiable ways to get rich, surely?

A celebrity’s value is basically derived from how much enjoyment they give people (or interest at least), is fully voluntary (in the sense that no one has to like a celebrity or buy their stuff, etc.), and usually derived from a very big fan base paying pretty little each.

@SundayTulips Some lawyers and bankers most definitely would where I am…Drs no, unless own private practices and cosmetic surgery

This only works if you have a remote job, as the well paying jobs are usually in more expensive cities and therefore moving to a cheaper city is pointless because you will then get a job that pays less.

Do you think Mumsnet is going to make you rich?!

I know nothing about Marbella (though I believe a couple of key members of the Kinehans (major Irish organised crime gang) are or were based there), but I used to live in Dubai, and yes, absolutely. Partly a big upsurge because of big international policing operations pressured international criminal gangs out of their previous stomping grounds in parts of coastal Spain and the Netherlands, and partly because it's a good place to launder money and move it on from, for various reasons, and has traditionally not often extradited criminals to countries where they are wanted.

But now international police are working with Emirati police, and presumably they'll move on from Dubai too. The Kinehans are wanted in the US, too, so now the US is putting pressure on Dubai to freeze assets etc.

Hahaha!
Maybe in America, unlikely here!
But love the optimism!

Motivation working 18 hours a day for the first year or so!!

Get property, do it up, sell it - loads of money!!

brain surgeons don't have a lot of money... at least not in the uk.

Or, to put it another way, they make their money by moving other peoples money around. And many VCs and HFMs will take a significant cut whether they are successful or not.