Abandoning Fastlane Temporarily for Career Change in Slowlane?

[Hai]

Some thoughts I´ve been having recently...and to be somewhat agreeable with OP...

The premise of basic passive income to elevate worries.

Let´s say you take a job and save 30k a year. Through capital investing/flipping/hustling/freelancing you can grow it twofold or more.
Now you have $200k of net worth in the bank. 5% yearly passive income. This might take 2-3 years.
You are retired and free to do what you want.
So in the beginning trading time for money can be beneficial, if your leverage is big enough.
Making 20k/gig isn´t too shabby.

Everything you make after this is FU money, money you can put into your fastlane business with NO risk.
Let´s say your goal is 5,5m in net worth.
To retire our parents, to travel wherever we want, to buy what we want.

Building a fastlane business takes
1. Time
2. Risk/Money
(3. Time to learn skills)

But because you have basic passive income, it´s less risky.
1. Working on the fastlane business becomes optional
2. Because you are secure, you aren´t time bound
3. Time for health, friends and family
4. Everything above your base capital(200k) is FU money for the fastlane business

Maybe this is upside down, but this is how I see it. Less stress, less risk, more happiness.

Additionally...to compare with Maslow´s hierarchy of needs, hypothetically:

Physiological Needs: Enough money to survive
Safety Needs: Basic Passive Income + Health
Love and Belonging: Friends and Family/Loved Ones
Esteem: Fastlane Freedom
Self-Actualization: Do What You Love

 

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[AllanB]

Let´s say you take a job and save 30k a year. Through capital investing/flipping/hustling/freelancing you can grow it twofold or more.
Now you have $200k of net worth in the bank. 5% yearly passive income. This might take 2-3 years.
You are retired and free to do what you want.

I am really tired of unrealistic financial plans.
200,000 * 5% = 10,000 USD per year or 833 USD per month.
You are not retired at all with as little money. It just pays the rent.

Have you personally saved more than $ 200,000 in the last 3 years?

 

[Hai]

I am really tired of unrealistic financial plans.
200,000 * 5% = 10,000 USD per year or 833 USD per month.
You are not retired at all with as little money. It just pays the rent.

Have you personally saved more than $ 200,000 in the last 3 years?

Not sure where you live, but 200k is plenty. Just talking about minimum living costs here.
I'm sure there are people here on the forum, who reached 200k in 3 years, otherwise we wouldn't be fastlaners.
My point is that trading time for money isn't too shabby if it pays well.

 

[Get Right]

It sounds like you are/have been doing a lot of great things over the last three years to me! I don't know many people that have the wealth and depth of experience you have built in such a short time. I'm actually excited for you (whichever direction you choose).

If you choose to keep pursuing the fastlane and/or entrepreneurship I would recommend your next phase to be working on the right mindset. The combination of mindset and your skills/experience is where you start to see fastlane gains.

A few things to think about if you choose to think differently:
1. Notice the movers and shakers on the forum and how they communicate. They usually think more about the person reading their posts than them posting. They usually like (or respond) to every comment in their threads. It's not all about them.
2. Failure is a cheap word for feedback. I've "failed" more than most here but I don't see it as a negative. It is very much a positive in my life.
3. Try to truly understand the "golden handcuffs". Plenty of threads on this but really look into the eyes of people that are tied by them. Are they happy or are they comfortable?
4. It is nearly impossible to perfectly juggle all the balls of life. If I concentrate on my business too hard, other areas suffer which in turn brings the business down. Find your balance. For me, I move a little slower than I could in business but I have the family time I desire.
5. Mental health is very important. Talk to whomever you need to, take the time you need etc. For instance, I found my "happy level" a little low last year. So I tackled the problem by taking some online courses related to it.
6. I know you know this but it needs repeating. Comparison is the thief of Joy - Roosevelt.

I wish the best for you either way you decide! Hit me up if you need anything.

 

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[luniac]

yea im sometimes bothered that im sacrificing my 20's pursuing the fastlane.
not much partying, going out, gettin laid, etc etc all the stereotypical stuff young men do.

But i can't do nothing about it, the slowlane life is even worse lol

u just gotta look in the mirror and ask,"if it comes to it, am i willing to sacrifice my whole life for the fastlane?"

for me its a resounding yes.

but dude take care of your health, u can be in excellent shape for decades ok.
look at this fukin dude hes 50!

View: https://www.youtube.com/watch?v=SKtQvfT2jO8