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- Mar 23, 2019
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Hey Fastlane Community - here is my story:
Who Am I:
&
All my life, I followed the standard means of living. I went to school did well with Academics and athletics. I followed the path, being fortunate to receive a full scholarship to play Football in the Power 5 conference and receive a world-class education. I always dreamed that Football would be a Fastlane to wealth (increasing my intrinsic value in the market place). Unfortunately, Injuries plagued my career. Although i played 4 years, I knew that Football would not be my meal ticket post-college. I refocused on academics and was able to land a great job in a Finance management development program in a Top50 Company.
Introduction to Fastlane Concepts:
5 days before I started my Job in Houston, TX. I had a fast lane business idea (did not know at the time), to create a rental business with a Duplex that my grandparents owned in MA. This property value skyrocketed because of location in the tight Boston RE market. If sold, Uncle Sam would come knocking with a $250k in tax bill, YUCK!
I convinced them to hold and create a business. Fast Forward a year, the property yields $7k a month in gross rent. Note: fees associated with property reduce Net Income. While I was creating this business, I absorbed numerous resources: books podcast videos, you name it. I learned about personal finance business and entrepreneurship
My disgust:
I came to a realization after re-reading the TMF : SAVING TO BE A MILLIONAIRE IS A FOOLS GAME. With no debt and low living expenses, i was able to save $25k in my first year of work. This was a great accomplishment and took sacrifice and lifestyle adjustment, but it also is deprivation and difficult. I had this money invested in The market (Vanguard Index funds) , but have recently moved this money out because it does not match with my short & mid-term goals. I have come to the realization that I need to focus on increasing my income, through business ventures and investments in myself. My disgust comes because I know that increasing my income will happen very slowly with my job and I have very little control.
Conclusion:
My story is much deeper but i wanted to keep my first post brief. I will be digging deeper into this along MY Journey. I look forward to interacting with this community and learning true wealth building concepts. Not the concepts the fast lane gurus preach but do not practice. Thank you MJ for the Great Books, I have read the TMF and will soon be reading Unscripted !
Who Am I:
&All my life, I followed the standard means of living. I went to school did well with Academics and athletics. I followed the path, being fortunate to receive a full scholarship to play Football in the Power 5 conference and receive a world-class education. I always dreamed that Football would be a Fastlane to wealth (increasing my intrinsic value in the market place). Unfortunately, Injuries plagued my career. Although i played 4 years, I knew that Football would not be my meal ticket post-college. I refocused on academics and was able to land a great job in a Finance management development program in a Top50 Company.
Introduction to Fastlane Concepts:
5 days before I started my Job in Houston, TX. I had a fast lane business idea (did not know at the time), to create a rental business with a Duplex that my grandparents owned in MA. This property value skyrocketed because of location in the tight Boston RE market. If sold, Uncle Sam would come knocking with a $250k in tax bill, YUCK!
I convinced them to hold and create a business. Fast Forward a year, the property yields $7k a month in gross rent. Note: fees associated with property reduce Net Income. While I was creating this business, I absorbed numerous resources: books podcast videos, you name it. I learned about personal finance business and entrepreneurship My disgust:
I came to a realization after re-reading the TMF : SAVING TO BE A MILLIONAIRE IS A FOOLS GAME. With no debt and low living expenses, i was able to save $25k in my first year of work. This was a great accomplishment and took sacrifice and lifestyle adjustment, but it also is deprivation and difficult. I had this money invested in The market (Vanguard Index funds) , but have recently moved this money out because it does not match with my short & mid-term goals. I have come to the realization that I need to focus on increasing my income, through business ventures and investments in myself. My disgust comes because I know that increasing my income will happen very slowly with my job and I have very little control.
Conclusion:
My story is much deeper but i wanted to keep my first post brief. I will be digging deeper into this along MY Journey. I look forward to interacting with this community and learning true wealth building concepts. Not the concepts the fast lane gurus preach but do not practice. Thank you MJ for the Great Books, I have read the TMF and will soon be reading Unscripted !
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