Legal Millionaire Before 30 (7 years remaining...)

There is no such "get rich quick". No trading, binary options, gambling, and such. These methods are typically high risk. So it is very probable to lose your investment. There are many spam and scam ads, that promise you to get rich quick, but they just take off your money.

You might get rich quick, if you started your own business. But out of 100 startups, 1-5 get successful and the other 95-99 fail. So it is still unlikely.

The best investment are imho shares, which give you an annual dividend. If you accumulate about 200.000-500.000 Euros in shares, you will likely get enough returns to make a living. This is called frugalism.

Typical shares should be big and well known companies, like Coca Cola, Apple, Alphabet (Google), AT+T, General Motors, ...

Note that there is a risk. Shares can get worthless, if a company goes broke. But for big companies, as the ones I've mentioned, it is extremely unlikely to get broke. As long as their business is running, they will pay returns.

And don't try to trade shares. It will burn money. No one can predict future market prices. Just buy regularly and hold them forever. When you receive returns, spend them for even more shares. That way you will take profit from compound interest, which is extremely powerful.

 

Not true, at least not your “will” qualifier. I haven’t burned money trading, at least no net loss. If you actually know what you’re trading, and not in the gambling mindset like many are, then it goes better.

 

Anyway, if you want to make that kind of money, be prepared to deal with risk. If you go into investments, risk anything that you can afford to lose, and nothing more. I understand why you’d want to risk more, but one move can be the difference between a massive payday and being stuck in government-funded housing (or even on the streets) for years. That’s too much risk that many take and lose on. Also, don’t invest in something that you don’t know about, whether how it works, or even the process itself.

For example, as far as real estate, crowdfunding’s been popular lately, so that’s one avenue to look into and if your area has anything similar to that. However, keep in mind that real estate takes learning also. Different types and styles of houses have their different benefits and nuances (typically) for buyers, there could be tax-related implications, and the real estate company/crowdfunding/etc should be dependable and researched. If you don’t dig into any of those, you’re only gambling with your money at this point.

 

At least, unexperienced people are prone to lose money with trading.