Any <25 pursuing financial freedom? Or already achieved for you older guys?

ReformSociety · 2019-02-27T04:13:21+00:00

I feel like a lot of guys here hate the word millionaire and their dream life is to live on a 1k Income on a 3rd world country in Asia and anyone talking about becoming a millionaire young is a lunatic.

What the fuck are you smoking?

elf_knife_love · 2019-02-27T10:02:55+00:00

Some people here are very unrealistic when it comes to understanding the economy or themselves...:

a) Financial freedom ala Mr Money Moustache doesn't exist. You can't stop working, you can just lower your amount of work. Maybe if you have 100M you can, maybe, but even assuming you have 10M spread out through the safest of equities (bonds and the large blue chips), you sill don't have financial security for your whole life. All it take is 1 US president that's a bit too communist, one real estate crisis in China spiraling out of a control a bit too much, one of several countries defaulting on it's debts, one major war... etc. You always have to keep an eye out on the market and the world.

Even worse, if you invest a smaller sum (e.g. 600k) and hope to live off of that the rest of your life, even a small hickup in the market will fuck you over. Have you notice all the financial people are exceedingly quiet now that the fed has starting raising interest rates ? How many of them do you think are presently looking for jobs ? After realizing the SNP 500 is an investment, not a store of value.

Investment is not a store of value, it's a FUCKING INVESTMENT, it's just that idiots always ignore the risks and focus on the growing value. Actually, I'll go even further and say that, pretty much nothing, in a world of constant progress, can be considered a store of value, at most it can be a way to protect value from certain rare events (e.g. metals) or slow down it's devaluation (e.g. certain currencies).

All most of the financial freedom practicants will be leeching their existence out of the social security system by the time they are 60.

b) Work doesn't suck

If works sucks, you are doing the wrong work. I don't want to give "I love what I'm doing" annecdotal evidence, because liking shit is subjective. But there is work that you will like, or at least that you will feel satisfied after doing.

Don't work 8hr a day on the same project, don't work from an office (at least not all the time, and not the same office), make your own schedule, pay your own taxes via whatever entities you want, work from wherever you want.... that's the closest you can get to financial freedom whilst working.

And it's a damn good deal.

Think for a second, what do you prefer:

Sitting for 16hrs on a beach in Nevis ? Or sitting for 16hrs on a beach in Nevis, having to grab your phone & laptop like 3 hr during that day, putting out some fires, closing some deals, inventing some shit, moving some equity around w/e... and coming out of it 1k richer whilst your are still, essentially, just chilling on a tropical beach ?

Are you so fucking eager to wait for death with nothing to do ?

AstuteBlackMan · 2019-02-27T01:58:01+00:00

I'm 22. Just trying to take in knowledge and have probably taken less steps as you in terms of owning my own buisness.

In my opinion I think it matters that you simply own your own buisness and have your own. Wether that makes you 2 million a year or 6 figures. I think having your own is the goal.

That being said just want to say keep going at it man.

PlantainNationalism · 2019-02-27T01:54:57+00:00

I don't wanna be a wage cuck for the rest of my life in a civilisation so in decline that there's subreddits about enjoying it. Maybe I got plantains growing, what's it to ya? But your obsession with excess reeks of capitalist realism

creating_my_life · 2019-02-27T04:23:27+00:00

first million in my early 30s, achieved financial independence (retirement) around 40.

Nobody likes the hard advice: spend less, earn more, do without. It works. Everybody wants the shortcut (crytpo! 4 hour work week! leverage!). Protip: There is no shortcut.

Don't get caught up chasing "your own venture". 99% of them fail. Many of my friends have chased their professional career, and have made a shit ton of money and are worth more than me.

rugged79 · 2019-02-27T02:11:04+00:00

Not sure of your location or resources.

If you're young and have a car or truck, you can try making your own cleaning business, washing windows, landscaping or something that people don't like to do. Nothing that takes a lot of investment, but you'll have to invest time in order to learn the business.

Or you can try working and saving up for a property like a duplex. Then rent one out.

Not really get money fast stuff. If you need money for capital and don't mind hard work, you can try a fishing boat.

MattyAnon · 2019-02-27T17:41:05+00:00

Is anyone actively pursuing this?

Yes, many people are. No shame in wanting to be a multi-millionaire.

"Millionaire" is not financial freedom anymore. This is enough to buy a good house in a nice area and have a very small income from the interest. It's not true freedom.

And so on. Massive failures and lot of learning

Good work on trying. Your ventures so far lack differentiation and don't add value: in short they are doing what everyone else is doing so noone needs you.

You don't make money by just trying to make money. You need to do something better than other people, you need to provide things that benefit others, there needs to be a selfish reason why people use your services rather than someone else's. You don't just try to leverage your way into the value chain and leech off the value of others, you need to actually provide something of worth to others.

It’s not a pretty lifestyle. Very insecure, and doubtful. You never know when luck is going to meet your preparation plus hard work

Right.

If you have a job, you get paid but you own nothing and you have little freedom.

If you start a business you own something but there are no guarantees you can sell it and you have complete freedom.

Contracting is somewhere in between. You get more freedom but don't own much.

Get yourself enough income to live off, and build everything else from there. And seriously consider getting a job or career where you can learn more about the world and build yourself into something that can offer value to other people who will pay you for it.

What are you actually offering the world?

blazeangel94 · 2019-02-27T00:26:37+00:00

Yo 25 year old here, wanted to share. Also living in a developing Asian nation.

Had dreams of financial freedom since 15.

Started off with MLMs back in the day(2010-2012). Mom introduced me to affiliate marketing but it was through a money-sucking guru that taught his students to copy everything so no real skills there in addition to loads of money wasted. But I saw its potential and tried it(the guru method) for a bit. Gave up, picked it back up a year after with paid traffic(mobile), gave it up again because it was hard learning everything on my own & made very little(was in the red mostly, USD is tough on most Asian currencies), and now I've picked it back up again but trying with free traffic.

I hate to admit it but I am lazy, it really takes a lot of hard work to get this going. That's just something I struggle with coming from a middle class family, being comfortable and all. I could be progressing daily instead of weekly. Probably why I was so unsuccessful in the past as well. I'm still working at it, at a slow pace, but a pace regardless. Personally, comparing to before, this is much better.

What you say is true. That it's not a pretty life. But I believe that keeping focused is important.

I'm not sure if you got anything out of this but I thought I'd just share.

Just curious though, what is this consumer goods venture you're talking about?

CatoTheHungry · 2019-02-27T02:37:55+00:00

My friends and I are and it is hard. Long hours, hard to make money. None of us made any money yet. I started a drop shipping site to make some income because I haven’t made any money since graduating. The most success in our group is a couple guys who created a minimum viable product and messaged VC’s.

So make a proof of concept or an MVP and email EVERY VC in your city asking for help and funding. 99.9% will say they’re “ not interested “ or they “are interested but don’t want to give funding yet”. Most will however say “I can point you to someone that can help”. Then you follow those leads. Rinse, repeat.

Its long and hard. I’ve thought about being a wage slave more days than I count the past year. I haven’t accomplished shit yet. Statistically it’s unlikely I’m successful. But at least I’m trying.

Ricky469 · 2019-03-03T05:49:53+00:00

I am in my late 50s. Pursuing financial freedom is the most important thing you can do! I started doing this before there was America Online let alone a Reddit. If you're young it doe not take much. If at 18 you take $3 a day and invest it in large cap stocks by the time you are 70 you'll have over $2 million. That one thing will take care of long term. Shorter term find a career that interests and stimulates you but also have a 40+ year future and a good income, at least averaging $75K+. Do not buy a new car until you are much older. Buy reliable but nice car. Get out on your own, I know it sucks to pay rent but you'll become independent. Save 20% of your salary. When you can buy a nice house in a good town with good schools (even if never have kids those towns tend to retain and increase value in the house). Get a 15 year mortgage and pay it off. Once you own your home outright you are king. Indulge some for things like travel and stuff for your house but don't chase bullshit luxury items. When you get older you'll feel a freedom that is let's say liberating. You answer to no one, can take care of yourself, never have to rely on another.

Bdsmthrowaway0101 · 2019-02-27T00:55:09+00:00

Get on medication and go from there big guy. Currently you have tons of school debt, a bad GPA for a useless degree, and no skills.

Title	Any <25 pursuing financial freedom? Or already achieved for you older guys?
Author	throwitpplaway
Upvotes	8
Comments	40
Date	February 26, 2019 11:14 PM UTC (7 years ago)
Subreddit	Posted in /r/askTRP
Original Link	https://old.reddit.com/r/asktrp/comments/av60n9/any_25_pursuing_financial_freedom_or_already/
Archive Link	https://theredarchive.com/r/askTRP/any.220262 https://theredarchive.com/post/220262

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