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How to Achieve Financial Freedom?

Author
Harris Girvan
The Scope
Gallente Federation
#1 - 2013-09-15 23:49:57 UTC
What I am looking for is general advice and guidance on how to become financially secure in EVE online. Let me elaborate on that point a bit though, this means to me not having to worry about losing ships and getting podded, which in turn opens the door for me to get into some pew-pew and piracy. I am not looking for some get rich quick scheme I am willing to actually put in the time and effort to make the ISK but I want to know the most time and work effective methods to achieve this. This toon has relatively low SP less than two million but it is generally well balanced in most areas.
Lilliana Stelles
#2 - 2013-09-15 23:56:18 UTC
There are many ways to accomplish this.

Many players simply earn the isk to replace their losses by doing PVE - Ratting, plexing, and missioning. Other players rely on mining. This is perhaps the most straightforward solution.

If you're a very good pirate you can ransom people. Some lowsec players use this to make additional income.

If you're in a large alliance in nullsec, they may take a more socialist approach: They'll replace your ships for free if they're lost in an alliance OP, but they have a very high tax rate to compensate. Several alliances do this.

If you want completely passive income, then you can do invention, PI, or farm datacores. These are fairly uninvolved activities that require some capital to startup and can be fairly skill intensive.

Also, don't forget to insure your ships! If you insure your ships and get alliance reimbursement, you can actually make money.

Not a forum alt. 

Eram Fidard
Doomheim
#3 - 2013-09-16 00:04:32 UTC
Don't forget the market. For a newer player looking to get involved in eve, deep space transport can be pretty lucrative, exciting, and rewarding (knowing you're helping a war effort or somesuch).

Just make sure you know how to conduct yourself safely through dangerous space before you try it. You can start in hi-sec, but the margins are not as good, takes much more 'paperwork' to figure out where your profits are.

Poster is not to be held responsible for damages to keyboards and/or noses caused by hot beverages.

Harris Girvan
The Scope
Gallente Federation
#4 - 2013-09-16 00:08:10 UTC
Eram Fidard wrote:
Don't forget the market. For a newer player looking to get involved in eve, deep space transport can be pretty lucrative, exciting, and rewarding (knowing you're helping a war effort or somesuch).

Just make sure you know how to conduct yourself safely through dangerous space before you try it. You can start in hi-sec, but the margins are not as good, takes much more 'paperwork' to figure out where your profits are.


Sounds interesting, could you go into some more detail?
Lilliana Stelles
#5 - 2013-09-16 00:22:48 UTC
Harris Girvan wrote:
Eram Fidard wrote:
Don't forget the market. For a newer player looking to get involved in eve, deep space transport can be pretty lucrative, exciting, and rewarding (knowing you're helping a war effort or somesuch).

Just make sure you know how to conduct yourself safely through dangerous space before you try it. You can start in hi-sec, but the margins are not as good, takes much more 'paperwork' to figure out where your profits are.


Sounds interesting, could you go into some more detail?


Get an industrial.
Buy low at the source, sell high someplace else.
In certain areas of lowsec and nullsec, you can essentially corner the market.

Not a forum alt. 

Harris Girvan
The Scope
Gallente Federation
#6 - 2013-09-16 00:55:45 UTC
Lilliana Stelles wrote:
Harris Girvan wrote:
Eram Fidard wrote:
Don't forget the market. For a newer player looking to get involved in eve, deep space transport can be pretty lucrative, exciting, and rewarding (knowing you're helping a war effort or somesuch).

Just make sure you know how to conduct yourself safely through dangerous space before you try it. You can start in hi-sec, but the margins are not as good, takes much more 'paperwork' to figure out where your profits are.


Sounds interesting, could you go into some more detail?


Get an industrial.
Buy low at the source, sell high someplace else.
In certain areas of lowsec and nullsec, you can essentially corner the market.


Does that not involve several toons to run effectively or do you mean traveling to a system, taking a screenshot of the market data then rushing to Jita to return to the previous system?
Lilliana Stelles
#7 - 2013-09-16 02:08:56 UTC
Harris Girvan wrote:

Does that not involve several toons to run effectively or do you mean traveling to a system, taking a screenshot of the market data then rushing to Jita to return to the previous system?


Most people do use several characters to keep track of the market.
But that doesn't mean you need multiple accounts.
A single account gets three character slots for a reason; there's no need for a market alt to have any skills.

There are also external sites such as eve-central that can provide you with some market data.

Not a forum alt. 

Sin Pew
Ministry of War
Amarr Empire
#8 - 2013-09-16 05:53:51 UTC
There's hardly any "secure" income in game. A null alliance can lose sov and you end up locked away from your source or assets, a WH corp can be expelled from their system and lose all assets. You can lose a pimped ISK machine to a well executed gank in a mission or incursion. You can lose all your ISK to a well executed scam or awox.

There's not *one* secure income, diversity however, helps shrugging off losses. There's many ways of earning bucks in game and the more you know, the better you can dip into whatever floats your fancy at the time. EVE does not lock you into one single career.

[i]"haiku are easy, But sometimes they don't make sense, Refrigerator."[/i]

Mara Rinn
Cosmic Goo Convertor
#9 - 2013-09-16 06:48:38 UTC
Koki Ottic
Merry dancers in the sky
#10 - 2013-09-16 08:43:02 UTC
"but I want to know the most time and work effective methods to achieve this."

Get a job > Buy Plex > Sell Plex for isk
Paul Otichoda
Perkone
Caldari State
#11 - 2013-09-16 09:15:04 UTC
I've been playing of 3 months and I'm still pretty much broke. The market is too complex and there is always going to be someone who instantly undercuts you. Mission running goes so boring. Exploration takes too long and so often the rewards aren't worth it. And you can never make a profit from pvp when your new. mining and industry is slow and often not worth it.

In other words unless you want to spend hours grinding then plex really is the only way to make money. This gain panders relentlessly to the old player base and dooms new players to oblivion.
Elena Thiesant
The Scope
Gallente Federation
#12 - 2013-09-16 09:24:36 UTC
Both trading and industry require research and attention. Do the research, pay attention and they can be excellent ISK. Don't do the research and you'll probably end up broke or worse. Neither reward uneducated endeavours.

Mining is slow, steady income, advantage there is you can mine while only paying partial attention to the game. I'm not saying mine AFK, but it's easily possible to mine (in highsec) while watching TV, writing, etc.

Exploration is like the lottery, you occasionally make huge amounts of ISK. Way better in lowsec than high if you're going for data/relic since you don't need to fight rats, just crack a minigame.

PI is again steady income with not too much work after setting it all up. Better income in lowsec than high, much better in null/WH space
Sakotz
Deep Core Mining Inc.
Caldari State
#13 - 2013-09-16 09:48:00 UTC  |  Edited by: Sakotz
I've been flying around Nullsec doing Relic and Data sites for the past 2 weeks. According to Aura on my phone this month I've made around 1.2 billion, so 600m a week. This also includes losing a Buzzard, which was my own stupid fault... I've also just fitted a manticore for roaming and killing explorers like myself.... gotta take the rough with the smooth I guess Big smile

I used to run level 4's in my RNI but after a while that gets a little boring and overall I don't earn as much as exploring. I dabbled in market pvp in JITA, that was fun and I made around 300m in maybe a week, not super money but again... it got old quick Sad

As a guy with little play time and other external factors, like a wife.. I find exploring to be perfect for me Big smile most of the time I'm afking (cloak) in nullsec while attending to other thigns. And when I'm bored I jump back through the WH to Hisec, grab my manticore and go explorer hunting Big smile

edit:
Only been explorer hunting for a day, so can't comment on how profitable that is.

Sakotz
Daler Farmon
Deep Core Mining Inc.
Caldari State
#14 - 2013-09-16 10:04:04 UTC
To TS; Get some Incursion ship with nice fit and make isks. How about 4 bill isks/day? Does it sound good to u or its not enough..)
Sin Pew
Ministry of War
Amarr Empire
#15 - 2013-09-16 10:09:56 UTC
Paul Otichoda wrote:
I've been playing of 3 months and I'm still pretty much broke. The market is too complex and there is always going to be someone who instantly undercuts you. Mission running goes so boring. Exploration takes too long and so often the rewards aren't worth it. And you can never make a profit from pvp when your new. mining and industry is slow and often not worth it.

In other words unless you want to spend hours grinding then plex really is the only way to make money. This gain panders relentlessly to the old player base and dooms new players to oblivion.

We get bitter newbs now Lol
Anyway, don't listen to this guy, the logic is broken here.

First of, PVP is not an income source, unless you get a very lucky draw with the loot fairy and get your paws on an officer mod, it most likely is an ISK drain.

What the guy didn't get, is that you're never locked into one single career in EVE unless you lock yourself into it. A good bunch of friends to play with can make even mining, an entertaining moment.

Trying to do just one thing to gather some wealth, will just lead to a burnout or boredom. It also takes a lot more time to do well alone. There again, doing stuff with corpmates can change a lot on the perceived entertainment and help even the newest players getting a grasp on stuff earlier than they would if trying to figure it out by themselves.

All those vets ripping the benefits away from new players, have one thing in common, they're experienced in the game and their experience can benefit their corp members, thus granting the new players joining their corp, much greater insight and knowledge of the game.

[i]"haiku are easy, But sometimes they don't make sense, Refrigerator."[/i]

Paul Otichoda
Perkone
Caldari State
#16 - 2013-09-16 10:31:12 UTC
Daler Farmon wrote:
To TS; Get some Incursion ship with nice fit and make isks. How about 4 bill isks/day? Does it sound good to u or its not enough..)


no-one take missile ships for incursions and they say you need 12m SP to be good at it. Logistics won't be accepted unless their tech 2. In other words new players who haven't trained up can't do incursions.
xKesterx
Avalon Project
Shadow Rock Alliance
#17 - 2013-09-16 10:53:31 UTC
Sin Pew wrote:
What the guy didn't get, is that you're never locked into one single career in EVE unless you lock yourself into it. A good bunch of friends to play with can make even mining, an entertaining moment.

Trying to do just one thing to gather some wealth, will just lead to a burnout or boredom. It also takes a lot more time to do well alone. There again, doing stuff with corpmates can change a lot on the perceived entertainment and help even the newest players getting a grasp on stuff earlier than they would if trying to figure it out by themselves.


This.

Also joining corpmates on higher level missions than you can solo is a great way to gain experience and top up your isk.
Paul Otichoda
Perkone
Caldari State
#18 - 2013-09-16 11:03:19 UTC
xKesterx wrote:
Sin Pew wrote:
What the guy didn't get, is that you're never locked into one single career in EVE unless you lock yourself into it. A good bunch of friends to play with can make even mining, an entertaining moment.

Trying to do just one thing to gather some wealth, will just lead to a burnout or boredom. It also takes a lot more time to do well alone. There again, doing stuff with corpmates can change a lot on the perceived entertainment and help even the newest players getting a grasp on stuff earlier than they would if trying to figure it out by themselves.


This.

Also joining corpmates on higher level missions than you can solo is a great way to gain experience and top up your isk.


I'm already at level 4s solo so its not too bad. Its just that they take so long to do.
Sin Pew
Ministry of War
Amarr Empire
#19 - 2013-09-16 11:05:52 UTC
Paul Otichoda wrote:
[quote=Daler Farmon]In other words new players who haven't trained up can't do incursions.

New players who haven't trained anything can't do anything, that sounds about right... While it can be argued that it only takes some 2 or 3 months to train into a basi if you focus on it, thus kind of breaking your logic again, incursions are high-end content, they're close to C5/C6 wh PVE and it surprises you that new players can't easily participate?
There again, asking to join fleets at random as a new player will surely get you discarded, because just like other games, there's the leet-bros that only associate with other leet-bros. While being in a good corp, can actually have you doing incursions early in game with underskilled fits because your corp is helping you up, not holding you down. It's up to them to decide if they want the most optimized fleet or if they want to be les efficient but also helping the new bro along with another logi.

[i]"haiku are easy, But sometimes they don't make sense, Refrigerator."[/i]

embrel
BamBam Inc.
#20 - 2013-09-16 11:12:57 UTC
Paul Otichoda wrote:


I'm already at level 4s solo so its not too bad. Its just that they take so long to do.


do you use a sentry ship?

since I bought a Dominix, L4's have become very comfortable.
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