From 9-5 To Financial Freedom

[Deleted34902]

I have decided to start this progress thread to document my journey to financial freedom. I want to add value to this great forum and hope to inspire others.

A little bit about me…

• I’m a 25-year-old male living in Australia
• I have a degree in Accounting & Finance and currently work as a Tax Accountant
• Just sat my last CPA exam two days ago – now with no more study commitments, I can focus solely on learning and building a business
• I have $40,000 in cash and $10,000 in stocks with zero debt
• I drive an ordinary car that gets me from A to B and still live at home – I refuse to upgrade my car or take out a mortgage, I’m willing to make sacrifices now to enjoy the good life later, and taking out a loan means I’m tying myself to a job

My Why’s:

• I want financial freedom and to be free at a young age, while also helping my family who have struggled financially

My Plan:

• I have read The Millionaire Fastlane and Unscripted , along with other books that have stood the test of time
• I will be reviewing TMFL and Unscripted , specifically sections I have highlighted and read the GOLD threads – I know this could be considered an action-fake, but I want to embed this knowledge into my mind

This is where I’m currently at, I’ll be keeping you updated on my progress.

 

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[TheodoreA]

Good luck!

 

[RichieKastl]

Have you thought about quitting your current job, reducing all of your monthly expenses as much as you can, and living off of that $40,000 while you build your business? If you could get your monthly bills down to $700-$800 a month and live very frugally, you could last about 3 years off of that and dedicate all your time towards your business.

This is my current goal. Right now I'm getting up at 4:30 every morning to work on my business and then going to my full-time job. Once I save up enough money I'm going to quit my job and work full time growing my business.

 

[Deleted34902]

Have you thought about quitting your current job, reducing all of your monthly expenses as much as you can, and living off of that $40,000 while you build your business? If you could get your monthly bills down to $700-$800 a month and live very frugally, you could last about 3 years off of that and dedicate all your time towards your business.

This is an option, but I would rather make a smoother transition once I have a concrete idea and something tangible where I know I can add value. I'm still reading and researching in all my spare time. I think Amazon FBA is a great option for a first venture, especially since I'm in Australia and Amazon is coming here very soon. I will keep updating this thread and documenting my journey as I go!

 

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[Yoda]

taking out a loan means I’m tying myself to a job

Loans are also leverage, sometimes. But you know that, Finance grad.

Best of luck!