44 , read the book, now thinking about businesses

[dude_abides]

Hi All,

The book really resonated and crystalized the questions i had with the slowlane. My life is pretty awesome, but i'm looking for the business system that will take me to the wealth system described in the book... I calculate an $8 million nest egg at 5% return would give me a comfy 20k per month to enjoy while I'm young.

Now I'm thinking and reading about potential fast-lane opportunities while continuing to grind at my well-paying, satisfying career.

I came across the book by searching the web for lists of "Best Business Books/Best Finance Books", i've already read most of the traditional books, name it, i've probably read it (rich dad poor dad, millionaire mindset, automatic millionare, richest man in babylon, think and grow rich, four hour work week, etc. etc).. i love to read, i took a break for awhile, but back on it now, i read 18 books last year and i'm on my 4th book this year. I had never heard of MF and it appeared on several lists, so i jumped on it first, and very glad I did.

Question to MJ or others, where do you get this 5% return for your nest egg/wealth system? I have enough in savings that i'd love to park it at 5% somewhere while i work on a fastlane business. This detail wasn't covered in the book. Something about Municipal bonds?

Over the years i've tried a number of different 'ventures' and have probably been pitched every scheme out there.

I have a lot of experience in real estate and will probably get back to flipping fixer uppers soon.

Among other things, I have expertise in Information Security, Privacy, SaaS, Cloud, Enterprise, Application security, "Hacking", so if you have questions about these topics I'm glad to contribute.

I live in Silicon Valley. I just spent 3 months working in western europe.

That's me.... hope to help others as much as i can. feel free to ask anything.

 

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[ljean]

Question to MJ or others, where do you get this 5% return for your nest egg/wealth system? I have enough in savings that i'd love to park it at 5% somewhere while i work on a fastlane business.

I have two friends who are brothers who run a hard money real estate fund in Phoenix. They have flipped tons of houses there and are now focusing on lending. They have just over $10M in the pool including quite a bit of their own capital. They lend the money on a short term basis to professional rehabbers at low loan to values. They collect about 12 or 14% interest from the borrowers and pay 8% to investors. I think the minimum investment is $100k with a 12 month commitment. I can put you in touch if you have interest and are an accredited investor.

 

[MJ DeMarco]

where do you get this 5% return for your nest egg/wealth system?

It was much harder back when I wrote the book, but with rising rates, it's getting much easier.

My favorite are municipal bonds (especially if you're still in a higher tax bracket) because they are tax free.

For instance, MZA is an AZ based fund and currently yields, 4.9% -- equivalent tax basis is more like 7% (at highest bracket).

I go into greater detail about this in my next book due out in a few months.

Welcome to the forum.

 

[dude_abides]

My favorite are municipal bonds (especially if you're still in a higher tax bracket) because they are tax free. For instance, MZA is an AZ based fund and currently yields, 4.9% -- equivalent tax basis is more like 7% (at highest bracket). I go into greater detail about this in my next book due out in a few months. Welcome to the forum.

Thanks @MJ DeMarco ! Looks like I have some research to do on bonds and tax implications; thanks for pointing me in that direction! I look forward to the upcoming book.... thinking this morning about your book 1 and 'process vs. events'... great stuff!

I have two friends who are brothers who run a hard money real estate fund in Phoenix. I can put you in touch if you have interest and are an accredited investor.

Thanks @levijean, great idea, I may take you up on that when i'm ready for this type of lending; I'm not accredited yet.

 

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[Lucid Tech]

This is a bit dated and the exact numbers will have changed, but this is a good start (until the next book comes out):

How to Never Work Another Day in Your Life, The Money-System Portfolio

 

[dude_abides]

This is a bit dated and the exact numbers will have changed, but this is a good start (until the next book comes out):

How to Never Work Another Day in Your Life, The Money-System Portfolio

Great! Thanks for sharing!