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Paul, I think this is where he fits in. When him and his wife were making only 40K combined, they carpooled to work, lived in a 700sqft apartment, barely went
by frankphilips 13y ago
Paul,
I think this is where he fits in. When him and his wife were making only 40K combined, they carpooled to work, lived in a 700sqft apartment, barely went out, etc. Now that they got some money, they bought a decent house ($250K), 2 cars, and they started paying off loans etc. He said even though they make $250K, his monthly expenses are over $7-8K. His whole thing is that he wants to be "financially free". I think his business ideas all are focused on MAKING MONEY, hence why he keeps failing.
- justinsteele 13y agoEven at 8k a month, he should be putting away 50-75k a year. That alone is a pretty impressive rate. It definitely sounds like he needs to figure out what "financially free" means to him, and realize it generally is impossible to reach that in a couple years. He should be happy with how quickly he WILL reach that.
- User8712 13y agoAt first I thought maybe work didn't seem fulfilling, and he wanted to run his own business. Running a business can be extremely rewarding, so I thought this was his plan. However, if he's only after money, then he might just be chasing a pipe dream. If he's making millions, he'll probably be buying exotic cars, and feel like a failure because he can't buy a yacht. Then he makes tens of millions, has his new toy yacht, but feels like a failure because he doesn't own a private jet. With his current income, he should be able to live quite well. You said, he wants to be financially free. If that's his goal, why is he racking up $8k in monthly expenses? It seems like he wants to live a lavish lifestyle, that's always above his means.