What's wrong w/ ambition fellas? Would you rather him say I'm going to bet and be a loser like everyone else. F*** that S***. The 1st step is thinking he can do it. Executing it is another.
Michfan, here's the deal. In order to accrue wealth you need a plan. This doesn't happen overnight nor would you want it to b/c good plans develop over time. Since you're 19 and have limited capital, your plan has to start with a source of income. More than likely, that is from a job or 2.
Next, after you've paid off bills and put a little from each check on the side for that rainy day, you have to make your remaining money work for you. That's the hard part of your plan b/c it is where you need to be the most creative and most diligent. If you're putting 1K per month into this, you need to know what the ROI is on whatever you're doing with that money. If it's sports betting, measure it to know if it's hurting or helping you. If it's stocks, mutual funds, commodities, selling products on ebay, a rental property, etc, do the same. If something is hurting you, then you have to make a tough decision to either make adjustments to it or drop it unless you see it truly turning around. The reason is because you want to put your JOB money towards those things that are building your net worth in the appropriate manner. You're doing this in order to drop that JOB one day.
After you've started doing this and have become successful, the next thing you need to do is find an accountant. There are 2 reasons you want to do this: 1) You need someone to go over your financial statements with on a regular basis and 2) You need someone's expertise in how to "protect' your money. While you're making this money, Uncle Sam will want his cut as well. Accountants always know "legal" methods to keep money in your pocket whether it's starting a business and re-investing in it, dumping it into an IRA acct, etc. People tend to think the rich get taxed heavy. They do, but in truth, the middle class supports this country b/c it's where the majority of the tax base is. Rich and wealthy ppl are the severe minority from a % standpoint and have accountants to protect the money they make. Your accountant may also have another client that is doing very well in a biz or in stocks and can introduce you.
Once all of this is up and running and you're managing it, the next piece to find is an attorney. Not for any particular reason but to be in the know. From my experience, attorneys know everything and everyone. How? When any person starts a business, what do they need? When someone's in trouble, what do they need? Who better to know what's happening around your neck of the woods than an attorney? People make jokes about drug dealers, but those guys are some of the most well-connected and business smart ppl in the world especially at the top. Not the street dudes, the ones running the show. Everyone of them has a top-notch attorney as does every person of power and wealth. When you're able to get your hands on info prior to everyone else and move on it, then you're good. It's a great thing, trust me.
People don't realize that it takes time to BUILD things in life. If you want fast money, then this isn't the approach for you. If you want to one day never have to answer to a boss again and build your net worth and wealth, then this is a good start.
Good Luck!
Saints (WHO DAT!!)