Own business is the way to go but I don’t like having all of my eggs in one basket.
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FIRE (Financially Independent Retire Early)
- Thread starter 03cobra#2
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Own business is the way to go but I don’t like having all of my eggs in one basket.
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Same.
I’m banking on selling out in a couple more years and having 20-30 mil at 45 years old. All my shits paid for with plenty in the bank and growing rapidly.
Damn. You must really like your work, currently.
TreynorV2
Some of you guys are making the American dream a reality, and that’s awesome, but I’m with Jared, i don’t wanna save save save, to only get hit by a bus one day and wham o it’s gone. And the rat race seems like an awful way to live, at least for me. I do save just not every penny, work hard play harder
I’m aiming to have $xxx,xxx in a high yield account by 40. Could live off the interest if i wanted, especially if i went international. Asia is cheap af
I’m aiming to have $xxx,xxx in a high yield account by 40. Could live off the interest if i wanted, especially if i went international. Asia is cheap af
Sure I take care of myself “ normally “
But I like to drink. Is what it is.
And I know my past of ****ing murdering my body with drugs and alcohol probably cut down my life expectancy.
So many people are like “ save 20k this year so in 20 it’s X”
Well I got no kids .. I got no wife. Ain’t leaving it to nobody .. so if I die.. then what ?
A dude I work with from time to time showed me what I could’ve had for retirement if I hadn’t bought my ~60,000 dollar Mustang at 27 years old in 2012.
I told him to go away and leave me alone haha, it was very depressing.
Your retirement/pension isn’t all in one basket? Are you in control of that basket? Doesn’t that concern you?
My goal is to be done at 45 as well and do whatever the **** I want from then on out.
I don’t save save save or work work work. Truth be told I do what I want when I want and have the current financial freedom to do so. I just need to put in another 10 (hopefully) years of effort to have that same freedom without having to “work” on a regular basis
I wouldn’t say the pension and 401k are tied.
401k while through employer is mine. If I leave before retirement it’s still mine.
I play with real estate and stock trading on the side is what I meant.
Not just counting on one thing to work out is the point I was trying to make.
Goal is to start a business on the side very soon as I can retire at 49 which is @6 yrs out.
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Pension, 401k, stock trading are are tied to markets which are out of your control. You are betting your nest egg on uncertainty. I’ve decided to put mine into the certainty that is the destiny that I control, day in day out.
Mommy and Daddy leave you bank? I don't believe you for a second.
Show me a W2 blanking off your name.
The only thing that is certain is that nothing is certain.
Hence me not betting everything on one thing.
My 401k is in my control as it’s 100% cash right now. Up 9% this year so I moved it to cash.
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Nope. Haven’t talked to either one in over 12 years.
My dad was the kind to talk you out of following your dream…if my mom had two nickels to rub together, she’d spend one.
I have been very fortunate. Started this business with my business partner almost 5 years ago, and have blown the **** up since bringing on my A/D Director/Superintendant. Went from 2-3 cranes working 24/7/365, to 17 cranes working 24/7/365. Went from doing $2mm a year in revenue to $8mm last year and on track for $16-$20mm this year.
I’m adding two more crawlers by the end of the month and we’re headed to look at another used hydro crane tomorrow morning, so I should be at 20 by the end of the month. I’ll honestly probably be at 30 by the end of the year and blow my $20mm prediction out of the water.
Factor in that we’re already working a deal for another 700 ton crane to join it sister in the wind markets (I’m buying into half of the business my partner already had doing wind) and the fact that we’ll probably be adding a 900 ton this time next year.
Doing the math several different ways to value your company all end up the same. Right now we are valued combined between $50-60mm (50/50 split) and by this time next year we’ll be over $100mm combined.
We’re already on the radar, and taking a huge chunk of our competitors revenue (in both markets) to the point they will buy us out to get it back, and all our equipment and personnel.
Be headed to Conexpo in Vegas in March to visit with all the guys that could and possibly will, but us out.
Not to sound like T-money, but my CPA has all my tax stuff, and with all the write offs, it’s not representative of my true income. Plus a bunch is in assets. Once he gets it back to me I’ll try and remember to blur it out and post it up.
Hire the right hands and pay the shit out of them (don’t be greedy) and it actually runs a huge portion of it itself.
My buddy that got me started is regretting not taking the percentage I threw at him a few years ago…
He’s a multi-millionaire now, so I don’t feel bad about it. Lol.
Nah, I think Treynor’s money starts with a B…
Put me in your will bro, I'll take it for you.
Nobody has the perfect answer. That just isn’t mine
Get your pilots license and start working up to higher ratings and fly people around privately. Excellent money to be made and you get to travel for free.
My buddy does that. He was a 3rd generation green house owner, sold the family business and started flying at 30 years old. Now he's 46, flies private jets and just bought a 2.5 million dollar home, has a new vette, New mustang with a whipple, and has a $200k turbo Porsch on order. I would say he's doing OK.
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