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OFF-TOPIC The cost of....... freedom?

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sparechange

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Nov 11, 2016
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I'm doing some ''financial thinking'' It's unbelievable how quick time is flying by, yet another 6 months of a new year and my goals haven't been met. Ok I'll admit I could work a bit harder.... but back to the point.

This could be an interesting exercise for people to participate in, just a silly idea in my mind I'd like to share with the forum. Think about some of the selfish desires you have, yes please share if you want or need to own a Ferrari, or Lamborghini if that floats your boat. Maybe even an actual boat!?

Ah, what is the cost of all that? Can you put a specific number on it?

For the past few years I've been in Vancouver and my own wants have always been put on the back burner due to financials. So I'm being a math whiz here and calculating the costs of my own selfish desires to be indulged in. What I've come up with from wanting to jetski the ocean, surfing, snowboarding, mountain biking and travelling the globe.

Snowboarding, perhaps my all time favorite hobby is quite expensive. Typically a lift ticket can cost anywhere from $100 - $200 depending on where you go, that's not even including the food, travel to get there, or equipment like winter jackets, gloves and so on. Now assuming I go 3x a week (super modest) over the course of a season that means thousands of dollars in lift tickets. Quite a bit of value vouchers. Hmm, value vouchers? Don't you mean money? Well yes, BUT as Unscripted entrepreneurs, our great teacher MJ told us to remove this dirty word from our vocabulary.

Let's calculate how many value vouchers I need to attract into my life, so I can selfishly indulge in MY wants. Overall for the rest of summer and upcoming winter I'd estimate a budget of around $10,000. That translates into only a measly few hundred sales of my own product. If you want to take it a step further, try calculating the cost of your estimated life expenses, the amount of money you guesstimate to spend on food, shelter and miscellaneous spending such as vacations or lavish purchases. My number would be around $2-$3m (I'll be alive for 4-5 decades more and time will take over) How many sales would that take you to achieve?

My products range from $10-$20, with say 100,000 units sold at $20 a pop that would equal $2,000,000. Guess the population of Canada...........

Got it?

You sure?

Hope you didn't google!

37,000,000 MILLION

Does that mean I can go out, with a product or service tens of millions of times and fail? AND I only need to be right ONCE as the great Mark Cuban said? Geez, maybe that's why people on the forum suggest to go out and fail so much.....

Keep in mind one of the funnest parts of entrepreneurship is making sure you send off those personally signed love letters to the local mafia, IRS or CRA (they usually prefer cheques or bank transfers) Which then leaves us with roughly $1.4m not taking into consideration operating costs along other things. Don't worry, if you ever forget to pay, the tax man is very kind and will send you a group of concerned individuals to make sure you remember next time.

The point I'm trying to make here, is come up with a number in your head. How many sales do you need to make to achieve your dream life? How much time do you have left on earth? 20 years? 50 years? Do you have a rough idea of what all of your consumption will cost in that time period? It feels like it all goes by really quick.

YOLO?


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Last edited:

MJ DeMarco

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There's a good thread here about this ...

 

Xeon

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I'm doing some ''financial thinking'' It's unbelievable how quick time is flying by, yet another 6 months of a new year and my goals haven't been met. Ok I'll admit I could work a bit harder.... but back to the point.

This could be an interesting exercise for people to participate in, just a silly idea in my mind I'd like to share with the forum. Think about some of the selfish desires you have, yes please share if you want or need to own a Ferrari, or Lamborghini if that floats your boat. Maybe even an actual boat!?

Ah, what is the cost of all that? Can you put a specific number on it?

For the past few years I've been in Vancouver and my own wants have always been put on the back burner due to financials. So I'm being a math whiz here and calculating the costs of my own selfish desires to be indulged in. What I've come up with from wanting to jetski the ocean, surfing, snowboarding, mountain biking and travelling the globe.

Snowboarding, perhaps my all time favorite hobby is quite expensive. Typically a lift ticket can cost anywhere from $100 - $200 depending on where you go, that's not even including the food, travel to get there, or equipment like winter jackets, gloves and so on. Now assuming I go 3x a week (super modest) over the course of a season that means thousands of dollars in lift tickets. Quite a bit of value vouchers. Hmm, value vouchers? Don't you mean money? Well yes, BUT as Unscripted entrepreneurs, our great teacher MJ told us to remove this dirty word from our vocabulary.

Let's calculate how many value vouchers I need to attract into my life, so I can selfishly indulge in MY wants. Overall for the rest of summer and upcoming winter I'd estimate a budget of around $10,000. That translates into only a measly few hundred sales of my own product. If you want to take it a step further, try calculating the cost of your estimated life expenses, the amount of money you guesstimate to spend on food, shelter and miscellaneous spending such as vacations or lavish purchases. My number would be around $2-$3m (I'll be alive for 4-5 decades more and time will take over) How many sales would that take you to achieve?

My products range from $10-$20, with say 100,000 units sold at $20 a pop that would equal $2,000,000. Guess the population of Canada...........

Got it?

You sure?

Hope you didn't google!

37,000,000 MILLION

Does that mean I can go out, with a product or service tens of millions of times and fail? AND I only need to be right ONCE as the great Mark Cuban said? Geez, maybe that's why people on the forum suggest to go out and fail so much.....

Keep in mind one of the funnest parts of entrepreneurship is making sure you send off those personally signed love letters to the local mafia, IRS or CRA (they usually prefer cheques or bank transfers) Which then leaves us with roughly $1.4m not taking into consideration operating costs along other things. Don't worry, if you ever forget to pay, the tax man is very kind and will send you a group of concerned individuals to make sure you remember next time.

The point I'm trying to make here, is come up with a number in your head. How many sales do you need to make to achieve your dream life? How much time do you have left on earth? 20 years? 50 years? Do you have a rough idea of what all of your consumption will cost in that time period? It feels like it all goes by really quick.

YOLO?


View attachment 33824

I'm 36 this year, next year will be 37. To be frank, life is looking grim for me.

I did some calculations some weeks back (before you started this thread), and I had a clear look at the kind of figures I need to make to achieve the kind of life I want. Thought I would share them here:

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

Quit my day job and feed myself (self-sustainable) : earn US$2,400 / month (minimum)

Take over 25% of financial burden from my dad (he's the chief breadwinner now) : earn US$4,000 / month (min)

Retire my dad completely and become the chief breadwinner (feed myself + mom + dad + maid + sick aunt) : earn ~US$6,000 / month (min)

Live life *quite comfortably* (travel + eating at restaurants + leisure activities etc.) : earn US$10,000 / month

Live life comfortably + get a girlfriend : earn US$30,000 / month (min)

Splurge money on multiple women YOLO : earn US$50,000 / month (min)

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

I've calculated the number of products I need to sell, and have worked backwards as well.
It's achievable......BUT only if doesn't fail.

Now, one of my craziest and wildest dream is to buy a Pagani and cruise it around downtown Singapore during peak hours, where there's tons of tourists (after Covid19) + corporate folks.

A lambo costs US$200,000 in the US, I think? A Pagani there costs around US$4 million give or take.
The same lambo costs the equivalent of about US$1.4million here, so scaling up, a Pagani here should cost about the equivalent of US$28 million. So that means I need to be making at least $10 million monthly to *comfortably* afford that.....

My life goal is to earn US$100,000 / month though, so let those supercar fantasies be fantasies.

Final figure? $25 million net worth to live the kind of life I want....

Back to hustle.
 
Last edited:
OP
OP
sparechange

sparechange

Platinum Contributor
Speedway Pass
Nov 11, 2016
1,902
2,589
665
Canada (Vancouver)
I'm 36 this year, next year will be 37. To be frank, life is looking grim for me.

I did some calculations some weeks back (before you started this thread), and I had a clear look at the kind of figures I need to make to achieve the kind of life I want. Thought I would share them here:

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

Quit my day job and feed myself (self-sustainable) : earn US$2,400 / month (minimum)

Take over 25% of financial burden from my dad (he's the chief breadwinner now) : earn US$4,000 / month (min)

Retire my dad completely and become the chief breadwinner (feed myself + mom + dad + maid + sick aunt) : earn ~US$6,000 / month (min)

Live life *quite comfortably* (travel + eating at restaurants + leisure activities etc.) : earn US$10,000 / month

Live life comfortably + get a girlfriend : earn US$30,000 / month (min)

Splurge money on multiple women YOLO : earn US$50,000 / month (min)

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

I've calculated the number of products I need to sell, and have worked backwards as well.
It's achievable......BUT only if doesn't fail.

Now, one of my craziest and wildest dream is to buy a Pagani and cruise it around downtown Singapore during peak hours, where there's tons of tourists (after Covid19) + corporate folks.

A lambo costs US$200,000 in the US, I think? A Pagani there costs around US$4 million give or take.
The same lambo costs the equivalent of about US$1.4million here, so scaling up, a Pagani here should cost about the equivalent of US$28 million. So that means I need to be making at least $10 million monthly to *comfortably* afford that.....

My life goal is to earn US$100,000 / month though, so let those supercar fantasies be fantasies.

Final figure? $25 million net worth to live the kind of life I want....

Back to hustle.
25 bones, so that would mean millions of product sales. Reasonable though!

''Impact millions and make millions'' A wise man once said...
 

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