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Thread: How doable is it to have a net worth of at least 1 million being a stripper?

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    Default How doable is it to have a net worth of at least 1 million being a stripper?

    Let's say you are focused, saved and made good investments with your stripper money. I'm not talking about buying a stock that has skyrocketed or pure luck. You're done with spending on designer clothes all the time and living the "high" life- let's say you have a goal for 1million. After all, 1 million is nothing these days in most cities with the price of housing. How doable so you think it os for the career stripper after 10 years or so of service if they really focus? Do you know of any strippers who have made this sum? I'm curious because I don't want to think of how much I've thrown away on clothes, jewelry etc. Stripping is fun but I'm sure one has to give it up one day.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    Anything is possible esp. this if you really put your mind to it. Educate yourself about money and all sorts of investments ... and hell yeah you can do it.


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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    I say definitly yes. 10 years of making atleast 300$ a day and investing, I think it's a reasonable goal.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    its def possible, just takes a lot of hard work and dilegence with the saving part.... The first step is to set an appointment with a financial planner, so he or she can fill you in on everything you will need to do to someday reach that goal.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    if you rode a bull market for 10 years, probably. but such a thing is passing uncommon.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    It's very doable. Quite a few entertainers earn 100k yearly or more. I worked with one woman that started dancing at 18 and retired at 36, very wealthy. I also worked with one little Russian girl. I talked to her about saving her money. She was afraid to put it in the bank because she was not legally in the country. Someone told on her and her friend told me the police found 25k under her bed. So, the money can be saved if you take care of it and yourself.

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    God/dess LuckiCharm's Avatar
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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    [QUOTE=greenidlady1;1134388] Someone told on her and her friend told me the police found 25k under her bed. QUOTE]

    Daaaaamn, someone told on her?? What a hater!

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    Thanks for the encouragement girls
    My living expenses average about 4k a month. Do you think it's high or normal?

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    High.

    But if that's a small proportion of your income, who cares.



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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    Quote Originally Posted by Lena View Post
    High.

    But if that's a small proportion of your income, who cares.
    I agree on both points.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    48k X 10years is 480k so its pretty bad. That's half a million right there When I put it into this prespective, I feel crappy.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    Doable. Less likely if you're relying solely on banking your income, much more likely if you invest what you do make well. Real estate...

    48k X 10years is 480k so its pretty bad. That's half a million right there When I put it into this prespective, I feel crappy.
    Don't feel crappy...why not find a way to lower your expenses, then work as if you haven't, and invest the difference?

    Feature costumes for sale!

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    Very doable. ESPECIALLY with investments. I'd say you'd be a stripper for 15 years, max, perhaps. So, until I was 35. Seems fair deal to me. Now...let's say I make 60k a year.

    $900,000

    But I only save half.

    $450,000

    Now $450,000 is a LOT of money to invest! With the first 450k I spent I should already hopefully have a house, so this 450k is all mine to invest. Well, I've been investing in stocks for ten years. There we go, about 200k if you did it right. Only 20k a year, but hey, if you're smart and invest a lot, this can be your return. Now, savings and things... about 100k perhaps over the whole 15 years... Now we have $750k. Now that we have that after 15 years of work, why don't we buy into real estate? Buy a house, fix it up, sell it. You should be a millionaire by 40. And that's just what should be liquid! Remember, your houses all have values!

    Just have a general plan. And besides, having $450k in the bank by 35 isn't THAT bad if you fail anyway, right?


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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    [QUOTE=LuckiCharm;1134394]
    Quote Originally Posted by greenidlady1 View Post
    Someone told on her and her friend told me the police found 25k under her bed. QUOTE]

    Daaaaamn, someone told on her?? What a hater!
    Yeah, she was the top earner at our club for a while. Some girls take it personally. She worked like a slave 6 nights a week.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    even if everyone else hadn't already had the idea of 'buy houses, fix them and sell them!', that particular plan would not be a sure route to wealth. most people i have known to do that work make about 50k per year after expenses, and that if they do most of the repair work themselves.

    it is honestly better to develop the passive income stream via 'other work' done concurrent with or funded through stripping savings. relying on the stock market and assorted real estate markets in such a short term to garner 1million in net worth in 10 years (the actual original projection, not 15) is a little...rose-colored.

    not to mention the likelihood of stripping being a high enough earning industry to stay in at the same low six-figure income for 10 years. and not to mention that anyone who can live on 1/4 or possibly less of gross or net earnings is already rare in ANY industry (assuming one saves half of gross and pays tax on the gross total out of the half remaining).

    IF the following conditions hold true, then MAYBE a stripper could get a million in assets at the end of 10 years:

    --work upscale with 1k+ earning potential/night and hit that at least once a week.
    --ability to live on as little as 1/5 of gross income
    --banging investment portfolio put together with professional help specifically taking into account your financial goal.
    --ability to look high-maintenance enough to get big bucks on a fractional budget.
    --a very cooperative stock market
    --a minimum gross earnings of at least 150k per year.

    there's investments that could practically assure that type of money IF THEY PAN OUT, but they are not guaranteed earners in themselves.

    for the 5-10% of dancers who can work somewhere with enough earning potential to bring in the raw money to work with, ok fine, maybe 1 million in assets is possible in 10 years (again making immensely optimistic projections about stripping-income holding stable that long). for the rest, it would be mostly luck and extremely close living.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    If you have that $450,000 in the market at age 35, and leave it there, that's when you could really see growth on your investments, just because it such is a large sum for your financial investment firm to manage. That's the kind of money that really makes money for you. Why do you think the rich get richer?

    I would do that and have a plan B workplan when you retire from dancing so you don't drain your investments until you're much older.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    I'm cash poor...but with my real estate and investments I will reasonably be worth a million on paper within the next 5 years. Of course that and a buck wont even buy me a cup of coffee!...but it'll be good for my retirement.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    Great goal !!!! ;-) I like to save as much as i can after i pay all my monthly bills. i spend 1000 a month max (Bills and extras included) I don't make as much as other dancers but i do OK i make a least $175 four nights a week to be honest. I also have a regular job 2 days a week as a pt bartender. i only make 500 a month doing that but its helps me stay afloat if i don't feel like dancing for a few weeks. :-)

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    Veteran Member luckischalk's Avatar
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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    I think its a reasonable goal. If you invest $450,00 it'll be worth a lot more than that. Also, keep in mind your money doubles every 7 years even if you're investments aren't extremely aggressive. See a financial planner.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    in a word, YES !!!

    $1000 saved and invested every week for 13 years will get you there at typical rates of return ! Of course if your investments catch a lucky break or two it's not impossible to get there inside of 10 years.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    I really appreciate the responses. Is 10% really a typical rate of return?

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    There are about a million good books on this topic, but this would be my recommendation as a first book to read. It's more about retirement at an older age than what has been talked about here, but it lays out the basics in a really clear, almost story-like, manner.

    http://www.amazon.com/Wealthy-Barber.../dp/0761513116

    Definitely possible is the quick answer, just stay away from high interest debt, buy a place when you can instead of renting (if you know you're not going to move), and pay off your savings plan as if it was the electric bill (before you figure out what you have to spend each month).

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    what an awesome thread this is. I am so motivated!
    i used to dream militant dreams / of taking over america / to show these white folks how it should be done
    i used to dream radical dreams / of blowing everyone away / with my perceptive powers of correct analysis
    i even used to think / id be the one to stop the riot and negotiate the peace / then i awoke and dug
    that if i dreamed natural dreams / of being a natural woman
    doing what a woman does / when shes natural
    i would have a revolution

    --nikki giovanni

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    I love this thread. People think I'm nuts for dancing as many nights per week as I do. But this is the exact reason why I do.

    I pretty much follow what miabella is describing, including the real estate investments. I'm currently investing in rental properties in an area where rents still exceed mortgages (very important.) Coupled with stocks and CDs, and of course owning my current house in an area that has not deprciated and not forecasted to do so, I'm on track to be a millionaire stripper at arourd 40.

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    Default Re: How doable is it to have a net worth of at least 1 million being a stripper?

    Wow, this is a great thread. Motivates me even more to save!
    I believe you Dottie and you have my support

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