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My 5 STEPS to Ultimate Time and Financial Freedom (How I Did It) !!

Anything related to matters of the mind

fastlane_dad

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I’ve been seeing a lot of thoughts / mentality / questions derailing from the FASTLANE mentality on here and what it takes to get there - and what is ultimately the higher purpose in this all – obtain your FREEDOM (time +financial) down the road.

I’m posting another recap and reminder of what it takes to achieve your dreams of obtaining all your fastlane goals / riches and ultimately FREEDOM (time AND financial).

I was able to get there by 38 years of age (over 2+ years ago) and now have the rest of my life to enjoy spending time however I want with my family.

Let's get into it - and break it down in 5 STEPS that I view as a good base / place to start on your journey (especially if you are young).

STEP 1: GET A SOLID EDUCATION (0-22 YEARS OF AGE)

There is a lot of backfire and derailment especially around here that somehow this is evil, shunned or you can or should skip this step.

While you can absolutely go around this step, be a ‘dropout’ failure, or a raging youtube success by 20 – chances are not stacked in your favor.

As a word of advice, unless you have a really good reason (which there are not many of) - you absolutely should not skip this step, and treat this step as a stepping stone and building block.

You should look at your education as your first business that you are getting into. That means don’t overspend in college. Live with your parents. Work part-time. Take on minimal loans.

Get yourself a high-paying degree!

I was able to obtain this with an engineering degree while going to a low-cost state college near my home.

I always thought that this is the ‘scam’ of the century how a few short years in school can springboard you into earning a solid base of income (almost guaranteed) at 22 years of age!

I was young and earning more than the median USA family income at the time, and more than both of my parents combined.

That really says something at the speed at which you can make things happen.

STEP 2: OBTAIN A WELL PAYING JOB (2-4 YEARS)

This worked out as anticipated for me! I was able to secure a well-paying job at the age of 22 after my college education, right in my hometown.

I almost thought it’s too good to be true, and realized how great America is to achieve the ‘American Dream’ with relative ease.

If I just did it without too much struggle, as an immigrant to the USA, living in a very middle class family, going to an average state college, not taking on much of any loans --- then leave college and collect a fat paycheck – what excuse can anybody else have?

At the time I thought I was ‘flush’ with money and can make all my (low-key) dreams come true.

Audi – CHECK! Travel – CHECK! Fly Clothes – CHECK! Going out / Eating Out - CHECK!

I have minimal expenses, and was able to sock away majority of my take home pay (while still living under my parents roof!)

BUT – this was never the last stop, or my big aspirational goals.

As good as this life was – I knew I was never going to buy Lamborghinis and hillside properties in CASH on my engineering salary. I did not want to be enthralled in corporate politics and ladders for next 40+ years.

The people I saw (my bosses and managers), 40-50 years of age, in their glass offices did not resemble the figures I wanted to become or aspire to be at the same age.

Endless meetings and presentations. Endless travel. Overweight. Missing children’s baseball games. In the office until 6-7pm daily. Working weekends. Building up someone elses business.

Sure – it might seem ‘stable’, and the money was ‘great’ – but where does this merry-go-round land?

If that’s as good as it gets by 50 – shoot me now.

STEP 3: LIVE BELOW YOUR MEANS TO EXPAND INTO THE FASTLANE WORLD / BUSINESSES (10 YEARS)

This is where things get good. Now that I had a consistent, reliable paycheck coming in, I was living way below my means – that I can afford to start working towards my fastlane business. You will need money to experiment. You will need time to experiment.

Being 22, living with parents (no home to take care of), single (no spouse no kids) – I had the motivation, time (evening and weekends) and money (saving much of my paycheck) to go out there and make things happen. Seeing this 'opportunity' that you have whilst being young, unattached, with minimal expenses and responsibility -- now through my 40 year old eyes - is not something to be taken lightly.

It took dozens of failed and successful ideas, many iterations, lots of hours spent trying, falling down and getting back up again until @NeoDialectic and I got to a place and a business we can build successfully upon. Ultimately for us it happened through an e-com business.

After being involved in everything from MLM, to flipping eBay items, to creating a standalone product (with no way to expand), to doing affiliate marketing – with each iteration and business plan we learned why the CENTS commandments are so important, and improved with each business venture we took.

It took us years until eventually our last business was on an upwards trajectory, clearing millions of profits a year, providing for a life we can only dream of.

The beautiful part is as good as life was, I was still able to save 80%+ of my income at this stage while living out all of my childhood fantasies.

STEP 4: SELL YOUR FASTLANE BUSINESS

After years and years of our business running successfully – it was time to plan for an exit.

We did not enter the business with this in mind – but once we realized how powerful selling a business can be (and that there's a buyer out there for ANY business larger or small) – we waited to grow our business, profits and revenues where it made sense to sell. When you realize that a business valuation can easily be 40X+ your monthly profits - you start seeing the value you created along the way in a whole different light.

It was in a way unreal to think that while we created significant value for others selling our products -- simultaneously we were building up even MORE value for our future investors who would eventually buy our company out.

This would ultimately acquire our set forth GOAL: TIME and FINANCIAL independence. Our business will now become someone elses daily ‘problem’ – and we walk away with a fat 8 figure paycheck. WIN-WIN.

STEP 5: INVEST TO SUSTAIN YOUR QUALITY OF LIFE AND PROVIDE FOR ETERNAL TIME + FINANCIAL FREEDOM

So the question now becomes – how to ensure that everything we worked so hard for will last a lifetime?

Easy (with a little due diligence, research, and a low-risk long term approach).

We looked at which financial instrument can help us best accomplish growing and preserving our wealth – and have found our answer through INVESTING our assets properly and conservatively.

We aren't looking to 'gamble' (individual stocks, crypto, latest fad etc).

Additionally - we aren’t looking to become ‘RICH’ of this (we already are!) The game now becomes keeping up with the lifestyle we have established for ourselves, and ensure we never run out of money until the day we die.

While much still will depend on your risk tolerance and timeline – our ultimate plan was not to risk what we have (money) for something that we don’t need more of (money).

-------------------------------------------------------------------------------------------------------------------

So now the question becomes of what do you do with this newfound freedom of time + money?

That can be answered differently by everyone – but what it does give you is ultimate freedom to figure out how you want to spend your day, work on projects of your own choice and not stress if the next ‘thing’ will turn into a successful financial endeavor.

The last few years this has given me time to spend with family and young kids, engage in hobbies that might or might not bring financial reward, not worry about day-to-day expenses, not worry about takeout or going out with my wife any night of the week and still have fun with multitude of hobbies I enjoy!

This is just one path of many to make this happen – but one that still makes the most sense to me in the real world!

Leaving this here to recap the timeline and the plan it took to get to where I’m at!

Welcome any thoughts, questions or contradictory viewpoints! Hope everyone is having a great day.
 
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Last edited:

Subsonic

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I’ve been seeing a lot of thoughts / mentality / questions derailing from the FASTLANE mentality on here and what it takes to get there - and what is ultimately the higher purpose in this all – obtain your FREEDOM (time +financial) down the road.

I’m posting another recap and reminder of what it takes to achieve your dreams of obtaining all your fastlane goals / riches and ultimately FREEDOM (time AND financial).

I was able to get there by 38 years of age (over 2+ years ago) and now have the rest of my life to enjoy spending time however I want with my family.

Let's get into it - and break it down in 5 STEPS that I view as a good base / place to start on your journey (especially if you are young).

STEP 1: GET A SOLID EDUCATION (0-22 YEARS OF AGE)

There is a lot of backfire and derailment especially around here that somehow this is evil, shunned or you can or should skip this step.

While you can absolutely go around this step, be a ‘dropout’ failure, or a raging youtube success by 20 – chances are not stacked in your favor.

As a word of advice, unless you have a really good reason (which there are not many of) - you absolutely should not skip this step, and treat this step as a stepping stone and building block.

You should look at your education as your first business that you are getting into. That means don’t overspend in college. Live with your parents. Work part-time. Take on minimal loans.

Get yourself a high-paying degree!

I was able to obtain this with an engineering degree while going to a low-cost state college near my home.

I always thought that this is the ‘scam’ of the century how a few short years in school can springboard you into earning a solid base of income (almost guaranteed) at 22 years of age!

I was young and earning more than the median USA family income at the time, and more than both of my parents combined.

That really says something at the speed at which you can make things happen.

STEP 2: OBTAIN A WELL PAYING JOB (2-4 YEARS)

This worked out as anticipated for me! I was able to secure a well-paying job at the age of 22 after my college education, right in my hometown.

I almost thought it’s too good to be true, and realized how great America is to achieve the ‘American Dream’ with relative ease.

If I just did it without too much struggle, as an immigrant to the USA, living in a very middle class family, going to an average state college, not taking on much of any loans --- then leave college and collect a fat paycheck – what excuse can anybody else have?

At the time I thought I was ‘flush’ with money and can make all my (low-key) dreams come true.

Audi – CHECK! Travel – CHECK! Fly Clothes – CHECK! Going out / Eating Out - CHECK!

I have minimal expenses, and was able to sock away majority of my take home pay (while still living under my parents roof!)

BUT – this was never the last stop, or my big aspirational goals.

As good as this life was – I knew I was never going to buy Lamborghinis and hillside properties in CASH on my engineering salary. I did not want to be enthralled in corporate politics and ladders for next 40+ years.

The people I saw (my bosses and managers), 40-50 years of age, in their glass offices did not resemble the figures I wanted to become or aspire to be at the same age.

Endless meetings and presentations. Endless travel. Overweight. Missing children’s baseball games. In the office until 6-7pm daily. Working weekends. Building up someone elses business.

Sure – it might seem ‘stable’, and the money was ‘great’ – but where does this merry-go-round land?

If that’s as good as it gets by 50 – shoot me now.

STEP 3: LIVE BELOW YOUR MEANS TO EXPAND INTO THE FASTLANE WORLD / BUSINESSES (10 YEARS)

This is where things get good. Now that I had a consistent, reliable paycheck coming in, I was living way below my means – that I can afford to start working towards my fastlane business. You will need money to experiment. You will need time to experiment.

Being 22, living with parents (no home to take care of), single (no spouse no kids) – I had the motivation, time (evening and weekends) and money (saving much of my paycheck) to go out there and make things happen. Seeing this 'opportunity' that you have whilst being young, unattached, with minimal expenses and responsibility -- now through my 40 year old eyes - is not something to be taken lightly.

It took dozens of failed and successful ideas, many iterations, lots of hours spent trying, falling down and getting back up again until @NeoDialectic and I got to a place and a business we can build successfully upon. Ultimately for us it happened through an e-com business.

After being involved in everything from MLM, to flipping eBay items, to creating a standalone product (with no way to expand), to doing affiliate marketing – with each iteration and business plan we learned why the CENTS commandments are so important, and improved with each business venture we took.

It took us years until eventually our last business was on an upwards trajectory, clearing millions of profits a year, providing for a life we can only dream of.

The beautiful part is as good as life was, I was still able to save 80%+ of my income at this stage while living out all of my childhood fantasies.

STEP 4: SELL YOUR FASTLANE BUSINESS

After years and years of our business running successfully – it was time to plan for an exit.

We did not enter the business with this in mind – but once we realized how powerful selling a business can be – we waited to grow our business, profits and revenues where it made sense to sell.

This would ultimately acquire our set forth GOAL: TIME and FINANCIAL independence. Our business will now become someone elses daily ‘problem’ – and we walk away with a fat 8 figure paycheck. WIN-WIN.

STEP 5: INVEST TO SUSTAIN YOUR QUALITY OF LIFE AND PROVIDE FOR ETERNAL TIME + FINANCIAL FREEDOM

So the question now becomes – how to ensure that everything we worked so hard for will last a lifetime? Easy. We looked at which financial instrument can help us best accomplish growing and preserving our wealth – and have found our answer through INVESTING our assets properly and conservatively.

We aren’t looking to become ‘RICH’ of this – merely keep up with the lifestyle we have established for ourselves, and ensure we never run out of money.

While much still will depend on your risk tolerance and timeline – our ultimate plan was not to risk what we have (money) for something that we don’t need more of (money).

-------------------------------------------------------------------------------------------------------------------

So now the question becomes of what do you do with this newfound freedom of time + money?

That can be answered by everyone different – but what it does give you is ultimate freedom to figure out how you want to spend your day, work on projects of your own choice and not stress if the next ‘thing’ will turn into a successful financial endeavor.

The last few years this has given me time to spend with family and young kids, engage in hobbies that might or might not bring financial reward, not worry about day-to-day expenses, not worry about takeout or going out with my wife any night of the week and still have fun with multitude of hobbies I enjoy!

This is just one path of many to make this happen – but one that still makes the most sense to me in the real world!

Leaving this here to recap the timeline and the plan it took to get to where I’m at!

Welcome any thoughts, questions or contradictory viewpoints! Hope everyone is having a great day.
Great post as always, thank you for sharing.

My one cent on the topic is that while in education/work on should already be collecting experience points on the entrepreneurship journey.
 

MJ DeMarco

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Basically describes a long-game approach that is very low risk, but high return. Great post nearly missed it and thanks for sharing it.
 

fastlane_dad

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Great post as always, thank you for sharing.

My one cent on the topic is that while in education/work on should already be collecting experience points on the entrepreneurship journey.
Yes - that would be a plus. One of my most insightful summer gigs while in high school was selling cutco knives. So many lessons learned during that (outlined here) - sales definitely helps open up your eyes to what MJ refers to as 'the market' and letting them decide what they want.
Basically describes a long-game approach that is very low risk, but high return. Great post nearly missed it and thanks for sharing it.
Yeah - the whole mantra has always been relatively low risk, with much bigger upside.

Nothing that I was doing was ever suppose to 'destroy' or 'wipe me out' at any point - including post fastlane business exit success.

In my plan always there was little to no 'gambling' involved. Sure - a little luck is needed along the way in mostly everything you do - but taking the right actions will always help tip that in your favor.

Getting a college degree, especially a financially rewarding one is fairly low risk (you know the work you will be putting in, and the reward you expect on the other end).

Then I try and approach all fastlane business in the same mindset - figure out where you can put in work with mininal risk that you can bootstrap - and have the shot for outsized reward on the other side (8+ figure business). Separating time from income (T) is of massive importance here.

This is certainly not the only mentality of perhaps the speediest plan to time+financial freedom - but it minimizes risk while keeping you moving forward towards all of your bigger goals constantly.
 
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wyattnorton

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You should look at your education as your first business that you are getting into. That means don’t overspend in college. Live with your parents. Work part-time. Take on minimal loans.
I agree with this.

The problem is not going to college.

The problem is going to college that requires immense amounts of money (and loans). And once you're in college, you do jack all but drinking, partying, and becoming a delinquent, entitled human being.

As you are a good example of how to PROPERLY attend university.

I went college for 3 years, completing my degree early because I wasn't a jag off slacker and I hustled even on the weekends to make money as well. I went to an expensive school for most people, but I was given a lot of money in scholarships to make it easy for my family and myself financially.

There are teenagers on the forum who sit around all day playing video games and jerking off, yet they think they are too good for college or entitled to be millionaires.

Glad your story is shared here.
 

fastlane_dad

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I agree with this.

The problem is not going to college.

The problem is going to college that requires immense amounts of money (and loans). And once you're in college, you do jack all but drinking, partying, and becoming a delinquent, entitled human being.

As you are a good example of how to PROPERLY attend university.
You got the point precisely. For me - college was already 'go-time'.

It was a clear cut way to succeed initially - especially weighing college cost, vs 'starting salary' for the degree I chose. It was a no brainer to get going, especially saving my money (living under parents roof), driving an old beater through it, and watching my spending on the weekends. I knew no matter what happened - I would have a great salary starting out, even if I knew all along that wasn't my final end goal.

Nothing prevented me from thinking about or working towards a fastlane business at that time as well (which I did). None of it came to fruition, until 1-2 years after I was OUT of college already and collecting a consistent paycheck.

Maybe as @MJ DeMarco pointed out the passive income bros have clouded everyone's judgement in 2023 that it really IS that easy to make $100K while posting artsy Instagram collages or dropping shipping chinese goods - BUT there's always considerably more to the story and rarely an 'overnight success' princess visiting your doorstep.

I went college for 3 years, completing my degree early because I wasn't a jag off slacker and I hustled even on the weekends to make money as well.
That's exactly what I did - spending my weekends working my a$$ off in restaurants, so I'd have the rest of the week to study.
I went to an expensive school for most people, but I was given a lot of money in scholarships to make it easy for my family and myself financially.
Perfect approach.
There are teenagers on the forum who sit around all day playing video games and jerking off, yet they think they are too good for college or entitled to be millionaires.
And that's exactly what I'm trying to dispel that for 95% (or more) of the population, it's the appropriate move given they chose carefully and don't party their assess of for 4-5 years (which was never the point to me anyways).

Everyone I know who went to school with me, or that chose the route I did (do not overinvest in education and pick your major well) - is doing WELL for themselves and were given well payed opportunities out of college.

As an example I looked up starting salary for software developer -- it is >> $80K+ today! With close to zero risk (as long as you get through school). That's a fat paycheck for someone in their early 20s just starting out - and will give you plenty to invest towards your fastlane journey as well!

As an aside you learn tons of skills that might even give you a huge leg up TOWARDS your fastlane business along the way (building SAAS as an example).

Going to a local state school - I wouldn't expect you to spend over $40K on that degree in tuition (with zero assistance)...so you see where the math and my thoughts are going.

Glad your story is shared here.
Thanks!!
 
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I think this is a really good plan for anyone. When watching videos on YouTube of 22 year olds making millions, it’s easy to get caught up in making money as fast as possible. This can lead to irrational decisions like dropping out of college with no skills and no knowledge, going off the rush of some arbitrary goal. A YouTuber iman gadzhi made a video with advice saying to “extend your timeline”. This way you’re still making progress to financial freedom, but building yourself up, learning skills, getting experiences, and enjoying the process along the way.
 
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fastlane_dad

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I think this is a really good plan for anyone. When watching videos on YouTube of 22 year olds making millions, it’s easy to get caught up in making money as fast as possible. This can lead to irrational decisions like dropping out of college with no skills and no knowledge, going off the rush of some arbitrary goal. A YouTuber iman gadzhi made a video with advice saying to “extend your timeline”. This way you’re still making progress to financial freedom, but building yourself up, learning skills, getting experiences, and enjoying the process along the way.
Correct - recent online / social media culture is really pointing fingers away from attainable routes you can use to jump-start building your wealth, minimize risk and work towards your fastlane business + exit all along. Taking recent scrolls makes it look like everyone and their mother has it 'made' by 20 years old driving Lambos with millions in the bank account.

It took me over a decade to reach those milestones post my college degree. Yes - you can start working on your business early, but don't discount the risk-reward balance of jumping into something and risking your sanity and savings early on in the game.
 

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@fastlane_dad Thanks for this thread, it really helped me get some of my thought processes in order. Here in the Netherlands it's even possible to go to school on let's say tuesday evening and work fulltime, and the company you work for pays your college tuition as long as you work with them (which i am doing). I was always wondering if this was a good strategy at a young age but you gave me great insights! I think this doubt was primarily because social media tells you to "Quit school and become a multi-millionaire success in 2 years!!!!" but the person telling you this is just trying to sell their course.

People will call you stupid for going this route but when they finish college they are $40/60k in debt while the person working has saved or invested $40/60k into their business attempts and got to know theirselves better. I am wondering what you think is a good way to go "all in" on a business at age 20/23 while still keeping yourself in the let's call it "safe zone" for long term success?
 

fastlane_dad

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@fastlane_dad Thanks for this thread, it really helped me get some of my thought processes in order. Here in the Netherlands it's even possible to go to school on let's say tuesday evening and work fulltime, and the company you work for pays your college tuition as long as you work with them (which i am doing).
Always a great route!
I was always wondering if this was a good strategy at a young age but you gave me great insights! I think this doubt was primarily because social media tells you to "Quit school and become a multi-millionaire success in 2 years!!!!" but the person telling you this is just trying to sell their course.
Precisely. It might work out for some, or at least that's how it's portrayed (who knows the actual truth!).
People will call you stupid for going this route but when they finish college they are $40/60k in debt while the person working has saved or invested $40/60k into their business attempts and got to know theirselves better.
You can do both at same time and plan strategically. Yes - it's all a game of risk/reward but unless you already started somewhere, can freely 'bootstrap' a part of your business without worrying too much about the money or outcome, and have reasons to believe that 'dropping out of school' is a great bet - I would never take a chance on a miraculous outcome.
I am wondering what you think is a good way to go "all in" on a business at age 20/23 while still keeping yourself in the let's call it "safe zone" for long term success?
You don't have to go 'all in' at that age - in time or money. @NeoDialectic and I started working on our first business, while he was in HS and I was holding down a full time job (I'm a few years older).

BOTH of us also went the college route as well ... until it made sense NOT TO (see: making a 100s of thousands of dollars a year in profit).

We made it all work in between everything we had going on while still having plenty of social time, free time on weekends and money to spend as we were very lean on starting out.

You have a LONG time to make it work.
 
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JNagtegaal

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We made it all work in between everything we had going on while still having plenty of social time, free time on weekends and money to spend as we were very lean on starting out.

You have a LONG time to make it work.
This is great, you have really confirmed a lot of my thoughts about balance in life and still reaching massive success. You don’t have to work 8/12 hours 7 days a week if the business is still in early stage and this extra work does not add value, not saying make excuses but do what has to be done and don’t invent stupid chores. That extra effort on Saturday after a fulltime work week is already more that most people ever do in their whole life.

Again, amazing thread thanks
 

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Thanks for the post @fastlane_dad! I totally agree with your step 1. While many on the web will tell you to ditch school and work on your own growth, I wholeheartedly believe that having a good education/degree which leads to a better job down the line is a better option.

That's why I have continued to study part-time, while also working a full-time job, to increase chances of promotion in my career. In my free time I have taken up to studying code as well, since it's a high leverage skill in the modern world.
 

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Hey @fastlane_dad, I 100% agree with all your points.
I have graduated from college, am 23 years old, and doing a job that pays me around 13k a year. I am from India, and the pay is not really great here but I am saving and building up some money in order to experiment.

In fact, I am in the process of building a SaaS product right now. Already started networking and talking to the relevant people in the industry I work in. I talked to a guy who is already doing what I am trying to do and he says this is a long road. 5 years at least, especially if you're just starting out, and I am okay with that.

I have given myself around 10-15 years in order to achieve time and money freedom. I believe unlike other timeframes (2 years or 5 years), this works well and allows me some room for trial and error.
 
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A bit of topic but i think important to mention about step 1. The fact that in a job you do actually learn a lot of valuable life skills that may not seem very “profitable”, but can help you in life.

For example learning the dynamic of an office and seeing how people interact with each other, most people don’t look at this and are on autopilot. If you make it a game for yourself to try and see someone’s intentions and how they present themselves in order to get what they want you will get less deceived in business later in life because you can notice the social/body language cues. One of many examples that i think counter the “You need to quit school in order to be successful” mindset.

If anyone else thinks differently please do tell so, very interested in opinions.
 

CalumMc

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As an example I looked up starting salary for software developer -- it is >> $80K+ today
Where did you find this? In my country salaries are not even half that for junior developers.

Also coding jobs are about to be reduced and go into a period of heavy competition due to AI, no?
 
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Hadrian

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Thanks for this post it was very inspiring to read... :clap::
I too am playing the long game due to various factors and am sacrificing my 40's for my own vision...
How you sacrificed your "fun-filled" 20's is a testament to your Warrior Archetype!

Achilles.jpg
 
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Tomco

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If you make it a game for yourself to try and see someone’s intentions and how they present themselves in order to get what they want you will get less deceived in business later in life because you can notice the social/body language cues. One of many examples that i think counter the “You need to quit school in order to be successful” mindset.
This has actually been my opinion ever since I was made aware of Fastlane entrepreneurship. I have been paying more attention to the little social cues everyone puts out and notice how some people really think in terms of the Sidewalk or the Slowlane, concepts mentioned in the first book.

Also as you say, by working in a job where you actually get to interact with your boss, you get to see how these individuals deal with people and problem solve during the day.

A key point here is to pick up whats working and discard what's not, and perhaps modeling it more into your character.
 

BaiAnrui

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Great post again @fastlane_dad . If only I had learned this lesson in my early twenties, all I did then was party ;)
 
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