• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

The College Investor

Student Loans, Investing, Building Wealth

  • About
  • Podcast
  • Research
  • Contact
  • Save For College
      • How To Start

      • How To Save For College
      • How To Pay For College
      • What Is the Average Cost of College?
      • What Is A 529 Plan and Where to Open One in Your State
      • How Much Should You Have In A 529 Plan By Age
      • How To Use A 529 Plan For Private Elementary And High School
      • What Are Qualified Expenses For A 529 Plan (And What Doesn’t Count)?
      • The Best Brokers To Open A 529 Plan
      • Tools + Accounts

      • 529 Plans: The Ultimate College Savings Plan
      • 529 Plan Contribution Limits
      • Prepaid Tuition Plans | What To Know
      • Understanding And Using 529A ABLE Accounts
      • Using A Roth IRA To Save And Pay For College
      • FAFSA Deadlines for Financial Aid
      • CollegeBacker Review
      • Upromise Review
      • UNest Review
      • Other Options

      • Student Loan And Financial Aid Programs By State
      • The Guide To Military And VA Education Benefits
      • How To Fill Out The FAFSA
      • How To Find College Scholarships
      • The Best College Scholarship Search Websites
      • How To Find Grants To Pay For College
      • Pell Grants: What They Are And How To Qualify
      • Understanding Federal Work-Study
      • How To Use A 529 Plan If Your Child Doesn’t Go To College
  • Student Loans
      • Borrowing

        • How Student Loans Work
        • How To Apply For A Student Loan
        • How To Find The Best Student Loans And Rates
        • Best Private Student Loans Of June 2022
        • Best Student Loans To Pay For Graduate School
        • Best Student Loans To Pay For Medical School
        • Parent Loans To Pay For College
        • No-Cosigner Student Loan Options
        • Guide To Income Sharing Agreements (ISAs)
        • Best International Student Loans
      • Get Out Of Debt

        • Best Places To Refinance Student Loans In June 2022
        • Best Student Loan Repayment Plans
        • Best Student Loan Refinancing Bonuses And Promotional Offers
        • Student Loan Forgiveness Programs (The Complete List)
        • The Full List Of Student Loan Forgiveness Programs By State
        • Public Service Loan Forgiveness (PSLF)
        • Top Student Loan Scams
        • Average Student Loan Monthly Payment
        • Average Student Loan Debt By Year
      • Reviews

        • Credible Review
        • Splash Review
        • Ascent Review
        • Citizens Bank Review
        • Commonbond Review
        • Earnest Review
        • ELFI Review
        • Laurel Road Review
        • LendKey Review
        • SoFi Review
  • Investing
      • How To Start

        • How To Start Investing in High School
        • How To Start Investing In College
        • How To Start Investing In Your Twenties For 22 – 29 Year Olds
        • How To Start Investing In Your 30s For 30 – 39 Year Olds
        • How To Start Investing With $100 Or Less
        • How To Give Kids The Gift Of Stock
        • What Is Dividend Growth Investing
        • IRA Rollover Chart
      • Tools + Accounts

        • Best Online Stock Brokers
        • The Best Traditional And Roth IRA Accounts
        • The Best Robo-Advisors
        • The Best Investing Apps
        • The Best Places to Trade Options
        • The Best Places To Open A Health Savings Account
        • The Best Solo 401k Providers
        • The Best Self-Directed IRA Providers Of 2022
        • Best Cryptocurrency Exchanges
      • Reviews

        • Vanguard Review
        • Fidelity Review 2022: Still One Of The Best Online Brokers
        • M1 Finance Review
        • TD Ameritrade Review
        • Charles Schwab Review
        • Robinhood Review
        • Webull Review
        • Betterment Review
        • Wealthfront Review
  • Earn More Money
      • Extra Income

        • 15 Best Side Hustles You Can Start Earning With In 2022
        • 53 Side Hustle Ideas To Make Extra Money
        • 100 Ways To Make Money In College
        • 80 Ways To Make Money From Home (In Your Pajamas)
        • 5 Quick Money Making Ideas (That Take Less Than 1 Hour)
        • 10 Interesting Ways You Can Make Money Driving
        • High-Paying Side Gigs That Earn $1,000 or More Per Month
        • The 10 Best Money-Making Apps
        • Paid Surveys: Earn Money For Giving Your Opinion Online
        • 10 Crazy Ways To Make $10,000 You’ve Never Heard Of
      • Build Wealth

        • 35 Passive Income Ideas You Can Use To Build Wealth In 2022
        • 3 Ways To Make $50,000 Per Year Without Working With Passive Income
        • How To Become A Real Estate Investor With Just $500
        • 15 Best Online Business Ideas
        • How to Create Streams of Passive Income on a Limited Budget
        • Residual Income: 7 Super Smart Ways to Build It
        • The Most Common Multiple Income Streams
        • How To Become A Real Estate Mogul With Only $10,000
      • Reviews

        • Fundrise Review
        • RealtyMogul Review
        • FarmTogether Review
        • AcreTrader Review
        • Swagbucks Review
        • Survey Junkie Review
        • TopCashback Review
        • DoorDash Review
  • Personal Finance
      • Banking

        • Best High Yield Savings Accounts Of June 2022
        • 10 Best Money Market Accounts Of June 2022
        • 10 Best Free Checking Accounts In June 2022
        • The Best Bank CD Rates Of June 2022
        • 10 Best Business Checking Accounts In June 2022
        • The Best Online Banks Of June 2022
        • 5 Best Credit Unions Nationwide Of June 2022
        • Best College Student Checking Accounts In June 2022
      • Insurance

        • Best Life Insurance Companies
        • Renters Insurance
        • Car Insurance
        • Pet Insurance
        • Umbrella Insurance
        • Disability Insurance
        • Tuition Insurance
        • Travel Insurance
      • Credit Tools

        • Best Budgeting Apps
        • Cash Advance Apps
        • How To Get A Free Credit Score Report
        • The Best Credit Monitoring Services
        • Debt Settlement: Inside The Secret World
        • Credit Repair Explained: Should You Pay For Help?
        • Best Personal Loan Companies And Lenders
        • Online Loan Companies To Borrow From Home
      • Tax

        • Best Tax Software
        • Free Tax Software
        • IRS Tax Refund Calendar
        • Common IRS Questions and Errors
        • Federal Tax Brackets
        • Capital Gains Tax Brackets
        • 401k Contribution Limits
        • IRA Contribution Limits
        • HSA Contribution Limits
  • Forum
  • Search
Home » Student Life » Millionaire Investor Profile » Interview with a Dot-Com Millionaire: Alex Genadinik

Interview with a Dot-Com Millionaire: Alex Genadinik

Updated: May 5, 2021 By Robert Farrington

Tweet15
Share17
Share2
Pin1
Email

At The College Investor, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners. This doesn’t influence our evaluations or reviews. Our opinions are our own. Learn more here.Advertiser Disclosure

There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals. We're proud of our content and guidance, and the information we provide is objective, independent, and free.

But we do have to make money to pay our team and keep this website running! Our partners compensate us. TheCollegeInvestor.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The College Investor does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).

For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. TheCollegeInvestor.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. All products and services are presented without warranty.

Interview with a Dot-Com Millionaire: Alex GenadinikToday I wanted to share with you the story of Alex Genadinik, an original dot-com millionaire who lost a lot but made it back in other ways. At 32, he was just 20 when the bubble burst, but that was enough time for him to have made money investing. That gave him a little bit of money to start with, and he was able to turn into over a million today through hard work, start-up success, and real estate. Now, he’s the founder of Problemio, a mobile app business.

As you know, we love talking to young millionaires about how they did it, and what we can learn from it. Everyone has a different path to success, and the unique insight they all bring can be enlightening to the rest of us.

With that being said, let’s get to know Alex . . . .

Getting Started

Alex GenadinikTell me about yourself and your company?

Alex: My name is Alex Genadinik and I have a suite of mobile apps on https://www.problemio.com and I recently started to blog about business at https://www.glowingstart.com.

The apps come as a four-app series covering business ideas, business planning, marketing, and fundraising. They are available on iOS, Android, Kindle, and the NOOK.

How did you make your first million?

Alex: During the .com boom in the late 90s, I was able to make money that I invested in real estate and the stock market. Plus, I have worked as a software engineer for a number of years, been a part of a $300 million exit at one company, and now have my own business.

All the investment, income from work, and my own ventures added up to a substantial sum over time. So it wasn’t one sudden event. It was a combination of things over time.

What lessons did you learn from the dot-com bubble that impact you today?

Alex: I learned to be very watchful for hype, and to be very cautious about being blindly part of trends. I also learned the values of diversification and risk avoidance.

Alex on Investing

What enticed you to start investing in real estate?

Alex: At the time, the housing market was booming and there was a lot of buzz about it. Now the real estate market is not so popular due to the crash of 2008. But prior to 2008, investing in real estate was just about the panacea of investing. You almost couldn’t lose money and many people were making double-digit returns year over year. So at that time it was a no-brainer.

Where do you currently invest your money? Why?

Alex: Now I invest in myself. I invest in my education and experience. By education, I don’t mean that I take classes. What I mean by education is giving myself the freedom to try different things from which I will learn.

So when I invest money, it is into my ventures and my current business because I know that whatever happens, I will learn a lot, and I will experience interesting things.

Has that changed over time? Why?

Alex: Yes, I was influenced by one finance manager whom I had asked for stock advice. Instead, he literally said “invest in yourself because the stock market is not a fair game and it is difficult for retail investors.” (<- Click to Tweet)

At first I didn’t like that answer because I asked for stock advice. But after I thought about his advice, I realized that there was wisdom in it and over time I adopted that philosophy more and more.

On Entrepreneurship

Is there another way to being a young millionaire without starting your own business or basically being an entrepreneur?

Alex: It really helps to have a rich uncle. If you don’t have a rich uncle, then you have to work hard. If I knew of another way, I would probably go after it myself.

I personally got very lucky by being at the right place in Silicon Valley during the dot-com boom. But everyone has some advantages either through their background or interests, or education. So one thing to do is to look at what you can be really good at and try to be active in that field. And that could give ideas for how to find your niche.

But in any case, to make money, people need to be creative, resourceful, hard-working, and patient. And over a period of a number of years, they will get there.

What’s the biggest risk you ever took? Do you regret it?

Alex: The biggest risk was when I started one of my first companies comehike.com without taking any investment. I had to literally figure out how to get revenue from that business from day one. It was very difficult, but I learned so much by just throwing myself in the pool and having to learn to swim.

I don’t regret it now, but I do wish I would have gotten more mentoring and guidance. That would have really helped.

If you could make one change, what would it be?

Alex: I am very interested in green initiatives and figuring out what can be done to reverse the global climate change. I am hoping to be active in that field at some point.

What advice do you have for young adults and college students when it comes to entrepreneurship and money?

Alex: I really want to emphasize the importance of hard work. You have to work nearly every day for many hours a day, with great zeal, for a number of years.

And I would also add that you not only have to work hard, but also intelligently and creatively. I would also advise not to work alone. Get great mentors and co-founders. That will make things go much faster and smoother for you.

What I Learned from Alex

I learned a couple things from Alex. First, Alex really highlights the importance of having multiple income streams. Yes, he doesn’t call it out overtly — but that’s what he did. He has his job, he invested in the stock market, and he bought real estate. As a result, when the market tanked, he was still able to build wealth because of the other income streams (and assets) he had. That’s why you should never put all of your eggs in one basket.

It’s also great to hear that he didn’t do it even though he was part of the tech boom. Too many investors kept all of their stock options and assets with the companies they worked at, and while some turned into very valuable investments, most didn’t.

I also like how Alex highlights that everyone has some unique advantage — whether it is education, background, interests, or hobbies. I’m a firm believer in this. To be successful you shouldn’t have to transform into someone else, you should find what is uniquely “you” and take advantage of that. It’s great to hear that’s how Alex did it.

What are your thoughts on multiple income streams, working hard, and having a unique value proposition for yourself?

Robert Farrington
Robert Farrington

Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.

He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.

He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.

Interview with a Dot-Com Millionaire: Alex Genadinik
Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.
Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors'. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone's responsibility to ensure all posts and/or questions are answered.
Subscribe
Connect with
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
4 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Primary Sidebar

Robert Farrington will teach you how to get out of student loan debt and how to start investing.

Hi! My Name is

America's Millennial Money Expert

Welcome to The College Investor. We're here to help you escape student loan debt so you can start investing and building wealth for the future

Our expert guides, reviews, and more are designed to help you achieve your financial goals.

Want to learn more? See what's in my wallet.

As Featured In

Social Media

Popular Posts

Side Hustling

53 Side Hustle Ideas To Make Extra Money

Best Side Hustles

15 Best Side Hustles You Can Start Earning With In 2022

Make Money From Home

80 Ways To Make Money From Home (In Your Pajamas)

Crazy Ways To Make $10,000

10 Crazy Ways To Make $10,000 You’ve Never Heard Of

Make $50,000 Per Year

3 Ways To Make $50,000 Per Year Without Working With Passive Income

Student Loan Scams

Top Student Loan Scams

Net Worth of Millennials

Average Net Worth Of Millennials By Age

Ways To Get Student Loan Forgiveness

Student Loan Forgiveness Programs (The Complete List)

Passive Income Ideas

35 Passive Income Ideas You Can Use To Build Wealth In 2022

529 Plan By Age

How Much Should You Have In A 529 Plan By Age

Ultimate Guides

529 Plan Guide

529 Plans: The Ultimate Guide To College Savings Plans

Student Loans and Financial Aid By State

Student Loan And Financial Aid Programs By State

Student Loan Advice

The Definitive Guide To Student Loan Debt: Everything To Know About Your Loans

Student Loan Forgiveness By State

The Full List Of Student Loan Forgiveness Programs By State

newretirement

How to Start Saving Now: The College Graduate’s Guide to Saving for Retirement

Latest Research

Institutional Merit Grants

Who Gets Institutional Merit Grants At Private Colleges?

Resume Student Loan Payments

Survey: Even With Higher Expenses, Most Student Loan Borrowers Are Ready To Resume Payments

Support From Parents Survey

64% Of Millennials Receive Support From Their Parents

undermatching at selective colleges

Undermatching: Why Do Smart Low-Income Students Not Enroll In Selective Colleges?

How Much Americans Pay To File Their Taxes

How Much Americans Pay To File Their Taxes

Footer

Who We Are

The College Investor is an independent, advertising-supported publisher of financial content, including news, product reviews, and comparisons.

Connect

  • Contact Us
  • Advertise
  • Press & Media

About

  • About
  • Our Team
  • Podcast
  • Editorial Guidelines
  • How We Make Money
  • Archives

Social

Copyright © 2022 · The College Investor · Privacy Policy ·Terms of Service · DO NOT Sell My Personal Information

wpDiscuz