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INTRO 32yo from Austria on the quest for financial freedom

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switching_lanes

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Hey guys,

I'm 32 years old from Austria and I'm seeking to achieve financial freedom.
I've read TMF and Unscripted and I'm reading TMF for the second time right now. Thank you for these masterpieces MJ!

My situation is as follows:
- I have a degree in civil engineering
- I have a secure job earning about 40000 € after taxes / year, which is "good" for this type of job and my age in Austria.
- I want to build something for myself and leave this job.
- Me and my girlfriend have saved up about 50k each, we rent our appartment and we don't have any debt or anything. We also don't care about possesions too much. If we spend money, it's mostly on travel.
- The BIG FACTOR in the future: We've got twins on the way :)

I am basically a guy, who reads a lot and gathers information but my main problem is the lack of execution and I know I have to get over it and get something started. What I also know: Whenever I work for myself, I have no trouble working late shifts and really get grinding.

I really want to leave the corporate world and live life on my terms. Also to have time for my kids and see them grow up. So my first step is financial freedom and a regular (if possible "passive") monthly income of about 3000€ after taxes.

I've browsed the forum already a little bit and I really love the supportive atmosphere here.

Wishing everyone out there a great day!
 

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Creep

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Hey, good luck on your goals! You have a background that requires great work ethic, so i'm sure you can do great.
I'm also just starting out thinking about how to do things, doing market research etc. at the moment.
 
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switching_lanes

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Apr 24, 2019
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Hey, good luck on your goals! You have a background that requires great work ethic, so i'm sure you can do great.
I'm also just starting out thinking about how to do things, doing market research etc. at the moment.
Thanks man! Wishing you the best as well!!
 

Tossek

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Hi switching_lanes,

what is your business idea gathering the 3k/month? I am in a similar situation :)
 
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switching_lanes

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Apr 24, 2019
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Austria
Hey @switching_lanes and welcome to the forums.
It's always nice to see a fellow austrian on here! :)

Good luck on your journey!
If you like, I'm always open for networking!
Hi @Awaken - great to meet Austrians here :)
Thank you so much!
What do you do, I'm always open to network and exchange thoughts/ideas!
Have a great day!
 

Tossek

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My fioncee and me saved up a bit as well, are debt free and we want to start a family next year. We are both engineers and would like to start something on our own. But we do not know what. Actually, one idea is producing skin creme :) not that I am interest in this ... but that puts me on a nice situation just focusing on value and best practice ... but it is just an idea.
 

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switching_lanes

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 24, 2019
24
17
22
Austria
My fioncee and me saved up a bit as well, are debt free and we want to start a family next year. We are both engineers and would like to start something on our own. But we do not know what. Actually, one idea is producing skin creme :) not that I am interest in this ... but that puts me on a nice situation just focusing on value and best practice ... but it is just an idea.
Great! So we're in a very very similar situation! Which kind of engineers are you? Skin creme, sounds interesting!!
 

esveebee

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Jan 3, 2019
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16
Hey guys,

I'm 32 years old from Austria and I'm seeking to achieve financial freedom.
I've read TMF and Unscripted and I'm reading TMF for the second time right now. Thank you for these masterpieces MJ!

My situation is as follows:
- I have a degree in civil engineering
- I have a secure job earning about 40000 € after taxes / year, which is "good" for this type of job and my age in Austria.
- I want to build something for myself and leave this job.
- Me and my girlfriend have saved up about 50k each, we rent our appartment and we don't have any debt or anything. We also don't care about possesions too much. If we spend money, it's mostly on travel.
- The BIG FACTOR in the future: We've got twins on the way :)

I am basically a guy, who reads a lot and gathers information but my main problem is the lack of execution and I know I have to get over it and get something started. What I also know: Whenever I work for myself, I have no trouble working late shifts and really get grinding.

I really want to leave the corporate world and live life on my terms. Also to have time for my kids and see them grow up. So my first step is financial freedom and a regular (if possible "passive") monthly income of about 3000€ after taxes.

I've browsed the forum already a little bit and I really love the supportive atmosphere here.

Wishing everyone out there a great day!

Didn't manage to write my intro post yet but also in a very similar situation, although we already built a house and most of my savings went there. Nothing really special, no dream house at all but seemed like a good investment in that time and location. I'm from Belgium (flanders) where every square inch is being built :) So quite confident we can still sell it without losing money on it if we ever find our dream house (and after the fastlane of course).

35 y.o. so have the feeling now is really the time also, especially because we're trying to get pregnant also and as my wife is currently working as a contract agent for the European Commission but her contract ends in 1,5 years.
So, "exciting" times ahead... but of course, it's never the right time.

Good luck with your journey also and I hope we can all build something to be proud of.
 

Andy Daniels

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Welcome to the forum!

Sounds like you have a lot of good things going for you (debt-free, good mindset, good work ethic). You're off to a great start.

In the beginning, your one goal should be to help others. In Unscripted, MJ talks about not even mentioning the word money. Think of money as Value-Vouchers.

How much value are you worth? How much value do you give others?

It's a simple concept that so many entrepreneurs overlook. Help others, and money will surely follow.


Good luck!
 

Tossek

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
May 5, 2019
119
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129
Germany
Great! So we're in a very very similar situation! Which kind of engineers are you? Skin creme, sounds interesting!!
Oh, I am a physicist/electrical engineer combination. My fioncee is a chemical process engineer. And very picky about here cremes, so I said to her one time, we should make our own if she dislike every other ^_^ .

What is your skill set and interest scope? As a civil engineer, did you do simulations or design?
 
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switching_lanes

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 24, 2019
24
17
22
Austria
Didn't manage to write my intro post yet but also in a very similar situation, although we already built a house and most of my savings went there. Nothing really special, no dream house at all but seemed like a good investment in that time and location. I'm from Belgium (flanders) where every square inch is being built :) So quite confident we can still sell it without losing money on it if we ever find our dream house (and after the fastlane of course).

35 y.o. so have the feeling now is really the time also, especially because we're trying to get pregnant also and as my wife is currently working as a contract agent for the European Commission but her contract ends in 1,5 years.
So, "exciting" times ahead... but of course, it's never the right time.

Good luck with your journey also and I hope we can all build something to be proud of.
So I wo
Didn't manage to write my intro post yet but also in a very similar situation, although we already built a house and most of my savings went there. Nothing really special, no dream house at all but seemed like a good investment in that time and location. I'm from Belgium (flanders) where every square inch is being built :) So quite confident we can still sell it without losing money on it if we ever find our dream house (and after the fastlane of course).

35 y.o. so have the feeling now is really the time also, especially because we're trying to get pregnant also and as my wife is currently working as a contract agent for the European Commission but her contract ends in 1,5 years.
So, "exciting" times ahead... but of course, it's never the right time.

Good luck with your journey also and I hope we can all build something to be proud of.
Thanks for your response!

So I would say we are both pretty lucky with our situations. Let's make the most of it!

I also wish you the very best for your journey! Keep me updated on your progress!
 
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switching_lanes

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 24, 2019
24
17
22
Austria
Welcome to the forum!

Sounds like you have a lot of good things going for you (debt-free, good mindset, good work ethic). You're off to a great start.

In the beginning, your one goal should be to help others. In Unscripted, MJ talks about not even mentioning the word money. Think of money as Value-Vouchers.

How much value are you worth? How much value do you give others?

It's a simple concept that so many entrepreneurs overlook. Help others, and money will surely follow.


Good luck!

Thanks Andy. I read Unscripted but that was a very good reminder. Always think value vouchers...

And yes I am very blessed to be in a good startimg position. A lot of it as to do with the fact that university is practically free in Austria, so no student loans.

I really want to make something happen. Just have to find my way!

Cheers!
 
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switching_lanes

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Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 24, 2019
24
17
22
Austria
Hi, I am also from Austria :)

And starting an ecommerce shop!

Maybe we can chat and motivate each other :)

Cool! Where exactly? What do you do? Sure let's stay in contact, I would appreciate it!
Have a great day man!
 

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Benny Lim

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May 24, 2018
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Singapore
I have a very similar situation with you. I have a 9-6 job and doing IT. Currently Married without kids.

What is your plan ?

Are you able to do consulting ? Probably it's a good start before you left your job.
 

BelovedLittleOne

Contributor
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Jul 29, 2018
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Austria
Hi @switching_lanes
great to have you on board! Welcome!
Seems like your thread is a magnet for Austrians!

--> Me too :-D

@Awaken , @Nepinho , @PippoW glad to know my husband and I aren't the only Austrian Fastlaners here :)
thumbs up, keep us updated!
Maybe we can all meet up at some stage and share/encourage/help each other on our journeys.
By the way, what a coincidence. We are Engineers too (Chemical/Process and Metal Forming Engineers).

All the best and keep up the high spirits!
 

PippoW

New Contributor
Dec 22, 2016
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Cool! Where exactly? What do you do? Sure let's stay in contact, I would appreciate it!
Have a great day man!
In Mödling (NÖ), that's in the South of Vienna. Where are you from?

I will sell a bed, with a special cover for faster recovery and deeper sleep.

Nice! I sent you my Facebook Profile on your page. Just add me and we can chat there :)
 
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switching_lanes

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 24, 2019
24
17
22
Austria
Oh, I am a physicist/electrical engineer combination. My fioncee is a chemical process engineer. And very picky about here cremes, so I said to her one time, we should make our own if she dislike every other ^_^ .

What is your skill set and interest scope? As a civil engineer, did you do simulations or design?
With her background you should really go for it or at least look into the topic of cremes.

I did a little design but worked mostly in research. Not too much I could use for my fastlane process right now.
 

Tossek

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
May 5, 2019
119
141
129
Germany
With her background you should really go for it or at least look into the topic of cremes.

I did a little design but worked mostly in research. Not too much I could use for my fastlane process right now.
Already bought some stuff for this :-D It is in the refridgerator and waiting for manufacturing
 
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switching_lanes

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 24, 2019
24
17
22
Austria
I have a very similar situation with you. I have a 9-6 job and doing IT. Currently Married without kids.

What is your plan ?

Are you able to do consulting ? Probably it's a good start before you left your job.
Interesting. Great to know that many members are in a similar situation. I think IT is a great starting point. What exactly do you do?
I don't have much of a plan right now but I'm searching.
Consulting might be a good idea. Will look into it if there is a possibility for me to do it as a freelancer.
 

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