39 Years Old. Net worth > $1MM and STUCK!

[GetRichODT]

I'll admit it. I'm a consumer and not a producer - well, at least when it comes to my ventures outside of work.

I've had a very successful career, but I have peaked. My job and ability to move up are constrained by the company i work for and therefore I have to break free.

It's been a great gig. It can remain a great gig. BUT HERE's THE PROBLEM! My cash flow is maxed.

I can keep showing up to work every day working 50-60 hours a week and I will continue to make what, by most anyone's standards is a very good living. I'm not quite a 1%er, but I'm easily a 2%er.

I increase my wealth about $360 per day, all day, ever day of the year. (that's factoring in salary, minimum bonus, dividends, 401k matching, etc).

The problem is, I only get this money if I sell my time to the company. i could move to another company but again, that's just selling my time.

Anyone else stuck in this position?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[jon.a]

Have you read the book?

 

[ejames]

I'll admit it. I'm a consumer and not a producer - well, at least when it comes to my ventures outside of work.

I've had a very successful career, but I have peaked. My job and ability to move up are constrained by the company i work for and therefore I have to break free.

It's been a great gig. It can remain a great gig. BUT HERE's THE PROBLEM! My cash flow is maxed.

I can keep showing up to work every day working 50-60 hours a week and I will continue to make what, by most anyone's standards is a very good living. I'm not quite a 1%er, but I'm easily a 2%er.

I increase my wealth about $360 per day, all day, ever day of the year. (that's factoring in salary, minimum bonus, dividends, 401k matching, etc).

The problem is, I only get this money if I sell my time to the company. i could move to another company but again, that's just selling my time.

Anyone else stuck in this position?

You need to divorce yourself from time or find a way to exponentially increase your intrinsic value.

 

[Almantas]

I'll admit it. I'm a consumer and not a producer - well, at least when it comes to my ventures outside of work.

I've had a very successful career, but I have peaked. My job and ability to move up are constrained by the company i work for and therefore I have to break free.

It's been a great gig. It can remain a great gig. BUT HERE's THE PROBLEM! My cash flow is maxed.

I can keep showing up to work every day working 50-60 hours a week and I will continue to make what, by most anyone's standards is a very good living. I'm not quite a 1%er, but I'm easily a 2%er.

I increase my wealth about $360 per day, all day, ever day of the year. (that's factoring in salary, minimum bonus, dividends, 401k matching, etc).

The problem is, I only get this money if I sell my time to the company. i could move to another company but again, that's just selling my time.

Anyone else stuck in this position?

What do you mean you're stuck? Are you too financially comfortable to take any risks by breaking free? IMO selling time for money is a classical slow-lane behavior.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Leo Lex]

I think we will need to hear more about what situation you are in. As no one can infer reasonably and well from little data.

My guess would be that you were a bodybuilder/personal trainer that minted his own protein shakes and sold it to his trainees.

 

[AgainstAllOdds]

I increase my wealth about $360 per day, all day, ever day of the year. (that's factoring in salary, minimum bonus, dividends, 401k matching, etc).

By running the numbers, you make between $93,600 and $131,040 a year.

Here's my math: 360*5*52 = $93,600; 360*7*52 = $131,040

You also claim to have a net worth of over a million. Meaning, that by putting your money into a safe investment that returns at 5% a year, you'll be making > $50,000 a year.

$1,000,000 * .05 = $50,000.

$50,000 is 38.2% to 53.4% of your annual income. It's also likely the equivalent or more of your disposable income.

Therefore: the easiest way to increase your wealth is to simply find a safe investment option. After that, look around at businesses that you can start, take the profits from your investment, and invest that into your side venture. Once your side venture makes 1/4th or more of your regular job, then consider going full-time.

 

[Leo Lex]

You need to divorce yourself from time or find a way to exponentially increase your intrinsic value.

Ejames. i can understand where you are coming from and it is indeed benevolent but advice that is too broad is unwieldy and un-useable.
in cases where you can not give practical advice it is best to showcase a way to apply the principle.

Alas, seeing him here and using the jargon it is safe to assume that he knows the principle but is curious about the application.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[jon.a]

By running the numbers, you make between $93,600 and $131,040 a year.

Here's my math: 360*5*52 = $93,600; 360*7*52 = $131,040

You also claim to have a net worth of over a million. Meaning, that by putting your money into a safe investment that returns at 5% a year, you'll be making > $50,000 a year.

$1,000,000 * .05 = $50,000.

$50,000 is 38.2% to 53.4% of your annual income. It's also likely the equivalent or more of your disposable income.

Therefore: the easiest way to increase your wealth is to simply find a safe investment option. After that, look around at businesses that you can start, take the profits from your investment, and invest that into your side venture. Once your side venture makes 1/4th or more of your regular job, then consider going full-time.

No, he said his net worth increases buy $360 per day. His income would be much more.

 

[ejames]

Ejames. i can understand where you are coming from and it is indeed benevolent but advice that is too broad is unwieldy and un-useable.
in cases where you can not give practical advice it is best to showcase a way to apply the principle.

Alas, seeing him here and using the jargon it is safe to assume that he knows the principle but is curious about the application.

Thanks Leo, I haven't had first had experience of the principles found in the book, but I have started to execute some of the laws from the fastlane. Now its just a matter of time and execution.

 

[QDF]

I'll admit it. I'm a consumer and not a producer - well, at least when it comes to my ventures outside of work.

I've had a very successful career, but I have peaked. My job and ability to move up are constrained by the company i work for and therefore I have to break free.

It's been a great gig. It can remain a great gig. BUT HERE's THE PROBLEM! My cash flow is maxed.

I can keep showing up to work every day working 50-60 hours a week and I will continue to make what, by most anyone's standards is a very good living. I'm not quite a 1%er, but I'm easily a 2%er.

I increase my wealth about $360 per day, all day, ever day of the year. (that's factoring in salary, minimum bonus, dividends, 401k matching, etc).

The problem is, I only get this money if I sell my time to the company. i could move to another company but again, that's just selling my time.

Anyone else stuck in this position?

If your net worth is >1M, you likely have a good bit that you could invest right now. I would buy an INSIDERS membership here and check out the INSIDERS's thread that MJ posted on selling options - you can sell options and get 30-50% annual ROI, and I feel that's being a little conservative

Learning curve is maybe 1 month of solid studying, watching videos, and doing simulated trades. Not difficult, just takes a little bit of time to learn the stuff.

But by that point you should be able to start and be profitable right away, earning 5%-10% ROI monthly on your invested capital.

With your net worth, you could almost quit your job right away, and make more money than at your job.

Then you'd be free to start whatever business you wanted if you wanted to make more money/do something else.

By running the numbers, you make between $93,600 and $131,040 a year.

Here's my math: 360*5*52 = $93,600; 360*7*52 = $131,040

You also claim to have a net worth of over a million. Meaning, that by putting your money into a safe investment that returns at 5% a year, you'll be making > $50,000 a year.

$1,000,000 * .05 = $50,000.

$50,000 is 38.2% to 53.4% of your annual income. It's also likely the equivalent or more of your disposable income.

Therefore: the easiest way to increase your wealth is to simply find a safe investment option. After that, look around at businesses that you can start, take the profits from your investment, and invest that into your side venture. Once your side venture makes 1/4th or more of your regular job, then consider going full-time.

I would not recommend this after learning how to sell options.

You could put some of your net worth into a 5% "safe" investment if you want, but you could put $100,000 into selling options and get the same return as some $1M with some 5% "safe" investment.

And I would argue the 5% "safe" investment really isn't all that much more safe either.

Seriously. Get an INSIDERS membership and start learning this stuff. You could be out of your job in 1-2 months and be making even more money than at your job.

Plus, selling options is fun as hell...it's like gambling, but you always win, because the odds are in your favor.

P.S. If you haven't already, read the book too.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Leo Lex]

Thanks Leo, I haven't had first had experience of the principles found in the book, but I have started to execute some of the laws from the fastlane. Now its just a matter of time and execution.

Neat, i find that learning from stories is often the best way. Also i like to make sure to have a list of the things the laws encompass, and then have a list of characteristics for said things. That way i almost never apply the law the wrong way on things it need not be applied on.
Best tip i ever got in my life. Burns away all confusion.

 

[Fox]

More information is needed before anyone can give you advice. You post is very vague.

 

[limitless_c]

The problem is, I only get this money if I sell my time to the company. i could move to another company but again, that's just selling my time.

Yes, thats called being in the slowlane and its extensively explained in the book and in the forum.You should read both.

It seems that you are very comfortable with your life, maybe that is one of your problems that is keeping you from growing?
Maybe you dont want it bad enough or you are just waking up and realizing how life is.
Anyway, good luck and welcome!.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Fox]

double post

 

[JAJT]

Short version: Reduce your lifestyle to someone making $30-50k / year, and use the remaining amount to experiment with entrepreneurship if that's the route you want to go. You'd be an order of magnitude more financially able than most people starting out and be able to take much bigger risks comfortably.

 

[Almantas]

If I had 1m, I would invest in 10 properties, rent them all and enjoy the freedom it offers, before starting a new venture.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[RHL]

See my signature. (Read TMF ASAP).