I'm 47, no net worth, facing some critical decisions...

[mrconder]

I'm 47, I have no net worth, work for a dead end company, and my skills haven't been updated in awhile. I'm a systems engineer (not software), but I haven't been challenged in a long time. My insanely hot girlfriend just broke up with me. Not only is she beautiful, but is a COO for a global company making around $250k a year. I think I developed a false sense of security because we had been talking about marriage. I felt if anything happened with my current employment, I'd be safe with her, have time to re-tool and get things worked out. I suppose I thought we would be going into retirement together.

We broke up two months ago. I've been shell shocked and confidence is completely gone. I've been reading books, trying to figure out what direction to take my life. I read the Rational Male and it really got me thinking my lack of confidence stems from my current financial position. Next, I read The Millionaire Fastlane . I want to believe I have it in me to make something happen, a hail mary before I need to chill and stop working. On the other hand, I could focus on my energy on a career pivot, or just sharpening my current skills. I don't have the time or energy for both.

I feel like I have a critical, pivotal decision to make here and I don't have any room for error. I don't know I'm quite sold on the "fastlane" approach, because so many people doing this are just trying to find affiliate products to sell, or putting out their own version of "how to make money," e-books. I'm really leery of all self-help authors who make their money telling others how to get rich. I realize DeMarco made money in the early days of the internet, stumbling upon leadgen and other strategies back when there was competitively little competition. I'd like to seem him do it again right now with no credit, no net worth, and know name recognition. I don't want to be another guy mucking around with making websites to drive traffic. It seems there are way to many people doing that, so it fails at least 1 of the requirements.

At any rate, I guess I have some degree of fear here. I make 85k a year. I could pivot into technical project management or an IT leadership role and make well over 6 figures, but for how long? Alternatively, I could spin my wheels trying business after business while falling further and further behind in my current career and potentially loose my ability to support myself.

Any advice is appreciate. I know all you guys have already drank the kool-aide and are probably going to be very one sided, and even have some harsh words for me, but that's ok. I'm asking for it here.

 

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[ravenspear]

If you make 85k per year and have 0 net worth at the age of 47 then you've clearly been living on the sidewalk.

I'd suggest that you first make the transition to the slowlane. It's much easier and a much smaller step than the fastlane and will at least put you on a more solid financial footing. If your current financial situation is a driver for your lack of confidence in other endeavors then it will likely improve other aspects of your life as well.

Since you've read TMF I assume you know what this means. It means you need to stop living above your means, get out of debt, and start actually keeping a significant percentage of the money you make. I've recently made a similar transition and it has improved my life significantly and put me on a much better footing for future opportunities.

Transitioning to the fastlane is partly about being ready to capitalize on opportunities that are presented to you. This is usually hard to do if you have no savings and spend 100% of what you make.

 

[rollerskates]

The first rule of the Fast Lane is...

we don't talk about the fast lane!

Kidding. Welcome to the forum, btw. The real first rule of fast lane is to find a need and fulfill it. It's not about dabbling in affiliates. The need doesn't have to be grand or ambitious, but it has to be able to scale. Like if you create a widget, you scale it up by having it manufactured and drop shipped. It's not only about pixels and links.

Look around you. What do people use? Can you make it better? That's how to figure out a fast lane venture.

I felt if anything happened with my current employment, I'd be safe with her, have time to re-tool and get things worked out.

Dude, no, this is a bad plan. Just like we women say "a man is not a plan", the other is also true. Trust me that if you ended up with her, you would likely never be able to "get things worked out" for yourself regarding your own business. You'd roll out of bed, grab a cup of coffee, surf the net, forget to shave, look around, realize you're not homeless and lather, rinse, repeat.

You don't HAVE TO fast lane your life, it's not a requirement. But if you want to, like I said, find a need and fulfill it.

 

[lowtek]

welcome to the forum, sorry you've arrived by such painful circumstances. From the title, sounds like you've lead a scripted life. At least you didn't get married and lose half your shit in a messy divorce.

I agree with you, many money chasers gravitate towards affiliate marketing and self help ebooks - but that's not what most of the people here go for. If anything, I would say this forum has a heavy bent towards ecommerce.

Just to correct some of your misconceptions: any business you do on the internet is going to require driving traffic, and there is so much traffic out there that it's not really a zero sum game. The consumers far, far outweigh the producers, so you'll always be able to get eyes on your products and services.

Also, despite the fact that MJ DeMarco built an internet business in the glory days, doesn't mean you can't build one now (if that's what you want). I did adwords for ecommerce, and one of my customers was turning over a million a year just from adwords (revenue). Another one is on track to hit a million this year total. Paid traffic + killer product = big time revenue

If that's not the path you want to pursue, and feel you'd like to get in on something big right now, there are a few nascent technologies that will be as transformative as the internet in the coming years:

• Blockchain technology (the underlying tech for bitcoin and other crypto currencies)
• Internet of Things (smart, connected homes - there WILL be sensors in everything)
• 3D printing ( completely personalized consumption on demand )
• Artificial Intelligence (leveraging all the data to make machines more suited to our everyday lives)

Any one of these could form the basis for a fastlane pursuit. If technology isn't your thing (though you ARE a systems engineer), there are lots of opportunities in other service industries that aren't as sexy. I know a contractor who is also a realtor, he offers financing to his customers so they don't pay for renovations until the house sells. Total risk reversal and the dude is booked out so far he had to shut off his marketing, but still can't keep up with demand.

One possibility, is take the higher paying job and stack all the extra cash. Buy one piece of cash flow producing real estate a year - 4 plexes and above. Actively seek out hustles to make extra money, and dump that into real estate. After several years you can bump that up to one every 8 months or so. Within 10 years you'd have enough cash flow to actively retire comfortably. It's unsexy, doesn't require any internet traffic, and is reasonably low risk.

Regardless of the long term path you choose, the first steps are to get some easy wins:

• hit the gym, lose some fat and gain some muscle mass. You'll look and feel much better, and you will have the momentum to generate more quick wins in other areas
• Think pretty hard about how you can monetize your systems engineering knowledge. Can you do any consulting on the side? Plenty of hardware based startups would probably need solid advice, and have the money to pay.
• Find a small hobby that allows you to socialize with the outside world. In the wake of a breakup, it's easy to fall into depression, which leads to being antisocial and just reinforces the depression. Break that cycle.
• Explore the world of options for making fastlane money, and find something that you could dedicate the next decade of your life to.

Hope that helps, and once again, welcome to the forum.

 

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[GuestUser450]

Welcome.
Beneficial things to grasp, in no particular order: humility, empathy and manners.

. I don't know I'm quite sold on the "fastlane" approach, because so many people doing this are just trying to find affiliate products to sell

Not trying to be a dick, but you should read the book again.

DeMarco made money in the early days of the internet, stumbling upon leadgen and other strategies back when there was competitively little competition.

Ignoring the passive aggressive left-handed compliment about falling into a successful business...Of course there are methods that worked yesterday that don't work today, but the fundamentals don't change. Having a system that enables you to recognize and leverage opportunities is what we talk about, not fly-by-night hustles.

I make 85k a year.

You're in the top 1%. Downgrade and live off 40k, start investing the rest.

 

[Chazmania]

My insanely hot girlfriend just broke up with me. Not only is she beautiful, but is a COO for a global company making around $250k a year. I think I developed a false sense of security because we had been talking about marriage. I felt if anything happened with my current employment, I'd be safe with her, have time to re-tool and get things worked out. I suppose I thought we would be going into retirement together.

I realize DeMarco made money in the early days of the internet, stumbling upon leadgen and other strategies back when there was competitively little competition. I'd like to seem him do it again right now with no credit, no net worth, and know name recognition.

Any advice is appreciate. I know all you guys have already drank the kool-aide and are probably going to be very one sided

You asked so here goes:

1st off your attitude sucks and there's no doubt as to why your girl left you. You rode her coat tails and provided no value. Also you're in here looking for help but criticizing in advance the people you're asking . Your thread says so much about you.

And throwing down a veiled challenge to MJ is a shitty thing to do while on his forum looking for help. I think he could start from scratch because he gets the whole 'provide real value and money follows' concept. That and 'process 1st, event 2nd' among other fundamental concepts. That model worked since the dawn of man much less the internet and lead gen.

I do have a few good idea on how you could get your shit together but why bother?

Here's one though: Re-read your own story, the answers are already in there.

 

[JAJT]

I'm 47, I have no net worth

I make 85k a year.

You're going to get a lot of tough love over this. Just know this - everyone here wants you to be here. Everyone wants you to start something and do amazing things with your life and break free.

Just take this as fact.

That being said - you need to get your shit together sir.

Take your income, divide it in half, and learn to live on that without exception. Cut out all the bullshit you are currently throwing your money away on and get it out of your life. Fancy car? Ditch it. Eating out? Stop that. Buying everything you walk by? Cut that shit out. You are clearly living like you've "made it" well before you've actually done so.

Now, take that other half, roughly forty goddamn thousand dollars, and build something with it. You can throw away 3 grand a month every month of the year on learning to be an entrepreneur now. Most of us here started with that amount TOTAL, forget about some kind of renewable pool you can keep dipping into.

Like real estate? You could put $20k down on a house TWICE every year and rent it out and cash flow it.
Like physical products? Go bring in a dozen different things you think might work and try to sell them on Amazon.
Invent something.
Build apps.
Build SaaS solutions.

Whatever.

Change your habits. Change your life. You are in a golden position to make something happen without the financial risk that many of us face.

Any advice is appreciate. I know all you guys have already drank the kool-aide and are probably going to be very one sided, and even have some harsh words for me, but that's ok. I'm asking for it here.

This is also both insulting and ridiculous.

Drank the kool-aid?

You make top tier income and have zero net worth. I don't know what you are drinking from but frankly I think the kool aid tastes better.

 

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[Envision]

I'm 47, I have no net worth, work for a dead end company, and my skills haven't been updated in awhile. I'm a systems engineer (not software), but I haven't been challenged in a long time. My insanely hot girlfriend just broke up with me. Not only is she beautiful, but is a COO for a global company making around $250k a year. I think I developed a false sense of security because we had been talking about marriage. I felt if anything happened with my current employment, I'd be safe with her, have time to re-tool and get things worked out. I suppose I thought we would be going into retirement together.

We broke up two months ago. I've been shell shocked and confidence is completely gone. I've been reading books, trying to figure out what direction to take my life. I read the Rational Male and it really got me thinking my lack of confidence stems from my current financial position. Next, I read The Millionaire Fastlane . I want to believe I have it in me to make something happen, a hail mary before I need to chill and stop working. On the other hand, I could focus on my energy on a career pivot, or just sharpening my current skills. I don't have the time or energy for both.

I feel like I have a critical, pivotal decision to make here and I don't have any room for error. I don't know I'm quite sold on the "fastlane" approach, because so many people doing this are just trying to find affiliate products to sell, or putting out their own version of "how to make money," e-books. I'm really leery of all self-help authors who make their money telling others how to get rich. I realize DeMarco made money in the early days of the internet, stumbling upon leadgen and other strategies back when there was competitively little competition. I'd like to seem him do it again right now with no credit, no net worth, and know name recognition. I don't want to be another guy mucking around with making websites to drive traffic. It seems there are way to many people doing that, so it fails at least 1 of the requirements.

At any rate, I guess I have some degree of fear here. I make 85k a year. I could pivot into technical project management or an IT leadership role and make well over 6 figures, but for how long? Alternatively, I could spin my wheels trying business after business while falling further and further behind in my current career and potentially loose my ability to support myself.

Any advice is appreciate. I know all you guys have already drank the kool-aide and are probably going to be very one sided, and even have some harsh words for me, but that's ok. I'm asking for it here.

LOL, so you come onto a forum bitching about how your girlfriend left you and your 47 with nothing going for you and you insult the group of people and the owner of the forum in which you're asking for help?

Your mindset is not there. I would start with that. Read Tony Robbins books on mindset (NOT MONEY) and start to figure out why you are thinking the way you are.

You won't get anywhere in your career or fastlane endeavors until you sort yourself out and I hate to say it but at 47 a lot of the dead wood (beliefs/thought structures) you've created over your life is going to be a bitch to burn off and get rid of.

P.S Ill help kick start the restructuring of your beliefs. There is no kool aid, the simple statement you made proves that you have belief systems that need to be adjusted in order to succeed. To say that there is kool aid tells your subconscious that this is something that only exists for some people/doesn't exist at all/ or is some crazy idea that you probably cant do. You basically put yourself in the position to fail before you start and then you wonder why you fail.

When you change the way you look at things, the things you look at begin to change.

 

[MidwestLandlord]

I've never understood the point of "let me have it!" threads that include intentionally provocative wording intended to rouse an emotional response and start arguments.

Weird.

 

[Paul Thomas]

I don't want to be another guy mucking around with making websites to drive traffic.

Guys that "muck around" making websites and drive traffic to them often make a killing. They are called affiliates and often make 4 figures daily, sometimes 5 figures... daily. More importantly they learn how to drive *targeted* traffic, a skill that can be used when they have a product idea of their own.

You'd rather be in your current position than that?

 

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[AllenCrawley]

 

[Mr.Chaos]

Any advice is appreciate. I know all you guys have already drank the kool-aide and are probably going to be very one sided, and even have some harsh words for me, but that's ok. I'm asking for it here.

Yes,

Green Kool-Aid.......

But remember the kool-aid didn't start out green.......the water was clear.

 

[BradD]

kool-aide

I prefer just a simple mix of orange juice and metamucil- keeps me regular- I dare you to not be happy when you're regular

 

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[MidwestLandlord]

At any rate, I guess I have some degree of fear here. I make 85k a year. I could pivot into technical project management or an IT leadership role and make well over 6 figures, but for how long? Alternatively, I could spin my wheels trying business after business while falling further and further behind in my current career and potentially loose my ability to support myself.

"A false dilemma is a type of informal fallacy in which something is falsely claimed to be an "either/or" situation, when in fact there is at least one additional option.

The options may be a position that is between two extremes (such as when there are shades of grey) or may be completely different alternatives.

A false dilemma can arise intentionally, when a fallacy is used in an attempt to force a choice or outcome."

(From Wikipedia. Emphasis mine)

 

[Choate]

How many hours/days a week do you work at your job? And what do you do/what are your habits like when you aren't at work?

 

[Jon L]

You're here asking for someone else to 'fix me, I'm broken.' Doesn't work that way. This is all you.
There is no decision you can ever make that will be risk-free. With that said, here are some options:

1. Continue on in your career, but take the bull by the horns and make something of it. If you're coasting in your current job, quit it!
2. Abandon your career, dive headlong into some entrepreneurial venture. This option will force you to take the bull by the horns and get something done. Its that, or starve. This is by far the hardest of the three options. You will eat mac and cheese for a while. You may not succeed.
   
3. Continue on in your career, but focus on a side venture, take THAT bull by the horns and ride it for all its worth.

What is the common thread in all of these options? (and in most of the responses above):

• Take the bull by the horns and get something done.

 

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[ZeroToOne]

FYI, self-loathing can be a symptom of depression. Whether or not it is a clinical problem is beyond answering in an entrepreneurial forum, but instead of asking people to pile it on, you should look for ways to release stress and get your head right. Exercise, eat well, spend time with people you like... Then address your life issues.

I realize DeMarco made money in the early days of the internet, stumbling upon leadgen and other strategies back when there was competitively little competition.

So did a lot of other people. Tons of enterpreneurs made money in the early days of other things. For example, that Gates hack made money in the early days of computers and Rockefeller was just lucky to get into railroads and oil in the early days. I started to make a whole list of people who got in "early", but hopefully you get the point.

Part of being a good enterpreneur is timing and product selection. If it was easy, every one would do it. "Early" is such a bullshit excuse for why someone can't succeed... Instead, ask yourself. Do you really want to work hard and build something for yourself, or were you hoping for a winning lottery ticket formula?

At any rate, I guess I have some degree of fear here. I make 85k a year. I could pivot into technical project management or an IT leadership role and make well over 6 figures, but for how long? Alternatively, I could spin my wheels trying business after business while falling further and further behind in my current career and potentially loose my ability to support myself.

Or... you could succeed at a business. Notice how you don't even give yourself that option?? My advice is not to start anything until you get your head right.

Not a Kool-Aid drinker here, but I'm now motivated in a different way. I've been dragging my own feet on getting something started, but after reading your intro, I've decided that ends now. I'm posting a progress thread this weekend and starting my own journey if for no other reason than to prove to myself that I'm not like the people that sit on the sidelines.

 

[OldFaithful]

After reading this thread, I wonder if @mrconder will post again?

 

[Carnage]

With an 85k salary, at least you have an income that you can live on and also help fund your business. It's up to you to take advantage of it. Lots of ppl have built businesses without being able to fund it with a decent income.

Back then, MJ didn't have thousands of youtube tutorials on building websites, businesses or driving traffic. There weren't these kinds of forums where people help you for free....but you do, so I wouldn't challenge him to be a competitor.

 

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[MJ DeMarco]

A false dilemma is a type of informal fallacy in which something is falsely claimed to be an "either/or" situation, when in fact there is at least one additional option.

Or it's used to justify our self-immolated excuses for our failures.

I don't want to be another guy mucking around with making websites to drive traffic.

And yet those guys make more $$ than you, have more net worth than you, and have more freedom than you. And who is mucking around?

After reading this thread, I wonder if @mrconder will post again?

Doubtful as it was this post and gone. However it could be he is at work and doesn't have the time to be mucking around on forums.

I could spin my wheels trying business after business while falling further and further behind in my current career and potentially loose my ability to support myself.

LOL, how much further can you fall behind? Your net worth is zero.

Maybe the solution is simply to pray for "DeMarco" luck -- I stumbled into a successful business for over a decade, stumbled into two business liquidation events, stumbled into an international best selling book, stumbled into a successful "insurance" business, and stumbled into one of the web's most trafficked entrepreneur forum -- one in which you seek help from.

That's right, pray to be clumsy so one day you can keep "stumbling" into things like me.

 

[Vigilante]

One and done.

I don't have enough energy or interest to do this again for the 100,000 time so thanks to all who responded.

 

[jon.a]

One and done.

I don't have enough energy or interest to do this again for the 100,000 time so thanks to all who responded.

Well said. I've decided that I can't always be "that guy".

 

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[Andy Black]

I learned something new...

You don't have to just get lucky to be successful, you can also be clumsy.


Pretty amazing responses to read. Glad I arrived late.

OP... Someone once told me that "business is the truest form of self expression". I think that takes it a bit far, but I do believe your business growth will reflect your personal growth.

 

[G-Man]

Well said. I've decided that I can't always be "that guy".

Nobody likes a quitter, Jon.

 

[biophase]

LOL, what a great first post. No wonder he is 47 with $0. But just in case he does come back. I'd like some more information about his insanely hot "now single" girlfriend who makes $250k a year. Pics?

 

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[Tedd]

Savage responses to the intro. But also got some good advice to start busting his arse.

I don't know I'm quite sold on the "fastlane" approach, because so many people doing this are just trying to find affiliate products to sell, or putting out their own version of "how to make money," e-books. I'm really leery of all self-help authors who make their money telling others how to get rich. I realize DeMarco made money in the early days of the internet, stumbling upon leadgen and other strategies back when there was competitively little competition. I'd like to seem him do it again right now with no credit, no net worth, and know name recognition. I don't want to be another guy mucking around with making websites to drive traffic. It seems there are way to many people doing that, so it fails at least 1 of the requirements.

, LOL, ROFL & and all that .....

 

[Argue]

The OP got me like:

 

[mThree2K]

Morning guys, stumbled upon this while looking for a way to introduce myself.

I´ve been there where you are right now (except for that war cry thing you tried to start by trying to bite the hand you where asking for help, it´s one of the worse character flaws there are... first thing you should work on)

Rough how to guide in my opinion:
1. Get out of the zone you are inmediately (start by something like salsa dance lessons, no kidding, but please don´t start chasing the next girl; see this as cure for you´re own mind)
2. Ouh boy, the net value zero thing is very common, never mind, just start doing something RIGHT NOW (and by that I mean just after reading this and all the replies and applying them as of now):
Pick some investment vehicle and start dollar cost averaging something like 1.000$/month until it feels "normal" then step it up, automate the whole thing.

This is not a "this is what you must do, 100% fa sure", you can do a million things right now, just give yourself permission to look for other options, widen your vision and get the F*ck out of that tunnel.

Edit: I know that last investment approach is very slowlane but I think building a little safety net is always positive while looking for an idea to execute upon.

 

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[zhack]

My 3rd post in the fastlane forum...another geek trying to get his left-brain towards the right.

I can't seem to get it why you feel that way about making money online. Do you feel that way about people who make tons of money offline? It's actually just the same thing, it's business. The internet, websites, mobile apps, emails are all just media and if manipulated properly are good sources of income. I know this not because I've made money, but because I've worked for those made real big money online and if only I had permission, I can even show you screenshots of their infusionsoft or paypal how much they've been earning.
There is one thing I'd like to share with you a quote that might appease your situation, and that is,
Indeed, the richest person is not the one who has the most, but the one who is content with what he has.
If you're going to build a business, give your focus and stay away from distractions. (if next year you get tons of cash, you will get better and beautiful girls, trust me.. my former clients did the same and all they do here whole year round is go to the next beautiful beach (with their *)..
Okay, another thing. In fact, I might be the poorest in this forum, like I only earn about $4,000 a year (if I did my calculations right) and I have failed several times and sometimes I envy people who got already there. But I know that the end goal about this online business venture is real.

a critical, pivotal decision to make here and I don't have any room for error.

Avoiding mistakes is a hard thing to do especially if your end goal is making lots of money. So I'm not sure if you're really into making lots of money, else you have to accept it. If you say getting minimal mistakes, having a mentor who will take ownership of his coaching results would probably be a good idea.

just trying to find affiliate products to sell, or putting out their own version of "how to make money," e-books.

• I know a person who makes millions selling ordinary stones.
• I know a person who makes millions selling letters and speeches.
• I know a person who makes millions selling drones.
• I know a person who makes millions selling advice.
• I know a person who makes millions selling printers. (you know, the 3d ones? but not the kickstarter guy who invented it, he just went with the flow)
• I know a person who makes millions selling money.

Those were not even a couple of years in the business. I'm fairly new to online marketing but I've seen how it can be as weird as it gets. So if the TWO powerful words from the TMF book can't pull you out of your skepticism,
maybe you let us know which will? 'cause it can be a good product, too. (*.wink wink)

 

[GMSI7D]

I feel like I have a critical, pivotal decision to make here and I don't have any room for error.

.

thank you for your story.


in my opinion, this is your entire life that you should reset. review your values, the way you want to live and so on.

at 47 , you can still do this thing. not when you are old.

at 40, i have done this resetting. i don't want ro be rich in the first place ; i want to live in a particular place with maximum freedom

time is above money. money is abundant. not our own time.