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... read the faslane book and really got the fire burning again ! Reading Unscripted now to reinforce the mind-set required.
In the meantime assessing my situation and figuring out next steps. I am going to be 48, married with 1 kid in high school. I have done reasonably well, debt free, reasonable savings and both of us have good paying jobs. Luckily our upbringing enabled us to have a good balance between hard work, saving and also enjoying life along the way. However, the spectre of losing a job always hangs on us and the regret of not making a bigger impact. I came across this book a little late but better late than never.
My plan is to first replace our incomes through real estate passive investing to take the risk off about losing jobs. Simultaneously, I will start using the frameworks that MJ has beautifully articulated to figure out unmet needs or opportunities to better execute and determine where I can add more value. I have tried the different types of investing, but needs a ton of active time so fails some of the CENTS tests. It can be done, but may never be truly passive and probably not as satisfying. In the extreme case, if I don't come up with a viable business idea myself in the next couple of years, I will evaluate and join a startup that I think has a with a 3-5 year horizon to go public. Having the real estate passive income should alleviate the fear of failing. Once the kid is off to college, it should free up a ton of extra time to put the pedal to the metal !! Either way better than regretting 10 years later would've, could've, should've
This is an excellent forum and will keep folks updated on my experience and any both success and failure on the path to financial freedom and a more fulfilled life. Hope this helps some folks who are in the same boat and also helps me accountable easy to talk/plan, hard to execute.
In the meantime assessing my situation and figuring out next steps. I am going to be 48, married with 1 kid in high school. I have done reasonably well, debt free, reasonable savings and both of us have good paying jobs. Luckily our upbringing enabled us to have a good balance between hard work, saving and also enjoying life along the way. However, the spectre of losing a job always hangs on us and the regret of not making a bigger impact. I came across this book a little late but better late than never.
My plan is to first replace our incomes through real estate passive investing to take the risk off about losing jobs. Simultaneously, I will start using the frameworks that MJ has beautifully articulated to figure out unmet needs or opportunities to better execute and determine where I can add more value. I have tried the different types of investing, but needs a ton of active time so fails some of the CENTS tests. It can be done, but may never be truly passive and probably not as satisfying. In the extreme case, if I don't come up with a viable business idea myself in the next couple of years, I will evaluate and join a startup that I think has a with a 3-5 year horizon to go public. Having the real estate passive income should alleviate the fear of failing. Once the kid is off to college, it should free up a ton of extra time to put the pedal to the metal !! Either way better than regretting 10 years later would've, could've, should've
This is an excellent forum and will keep folks updated on my experience and any both success and failure on the path to financial freedom and a more fulfilled life. Hope this helps some folks who are in the same boat and also helps me accountable
easy to talk/plan, hard to execute.
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