Ideal Income
As I struggle to tack some zero's onto my bank accounts, I found this comment left on my site by Jack Miller very inspiring:
"The first $50,000 is tougher than the last $5 million."
Tell me about it! I can also attest this is true from all the highly successful people I have spoken with, they all went through some sort of struggling period before they finally hit it big.
I'd like my first $50,000 to be made primarily by ME. This means I want to make the bulk of my money through any means other than a 9am-5pm job. I am more proud of the $5.43 I made from my water experiment than the $3,121 I have made from working at my job.
"The first $50,000 is tougher than the last $5 million."
Tell me about it! I can also attest this is true from all the highly successful people I have spoken with, they all went through some sort of struggling period before they finally hit it big.
I'd like my first $50,000 to be made primarily by ME. This means I want to make the bulk of my money through any means other than a 9am-5pm job. I am more proud of the $5.43 I made from my water experiment than the $3,121 I have made from working at my job.
Labels: Personal
posted by Neville @ 8:09 PM
20 comments
20 Comments:
Alot of people only see $1 million, but they forget the process in between. It's that process in between that teaches you lessons you can't learn in any class. This is a big reason why lottery winners lose it all, because they never went through the "struggling period"
Keep up the good work.
P.s. - Still lookin' for that mentor.
My grandmother (who also happens to be my mentor in this since she's a self-made woman) agrees with Jack. She said that the first part of her life she was building the stepping stones to make her money, like buying apartment buildings, etc. that later made her a millionaire.
BTW - What are you majoring in?
Kate
I am actually a Government major. I had plans for law school, but I don't see anymore academics in my near future.
I enjoy school to some extent, but I think the real world has the stuff I'm really looking for.
By the way, your grandmother sounds like some piece of work! For a female of her generation to become a millionaire...tell her I'm DOUBLY impressed.
What sort of struggles did she have to put up with? I'd enjoy hearing some more of her feedback or stories!
www.ncnblog.blogspot.com
May you be blessed by the Lord, Who made heaven and earth." ~*~*~
Psalm 115:14-15
Please take this as constructive criticism.
First, why would you pay money to go to college to get a degree in government? Perhaps your first cost/benefit analysis should be your education.
Second, you seem to be consumed with making money. Of course, we all want to make money, but your comment that you are happier with the $5 you made selling water than the $3k you made at your job is interesting.
If you go through life with one all-consuming goal, i.e., to make as much money as you can, then you will live a miserable life. The trick is not to do anything you can to make a penny, but to do what you love and get paid for it.
I'm in the same boat also. I see my job as a means to an end. It pays the bills and provides capital for whatever venture I try out next. I get more satisfaction from making $15 profit on a side venture than I do from the $x,000/month salary.
This had been my plan coming out of college and entering the workforce. However, one thing you'll find is that when you take up a career, a good chunk of your day is taken away. It is somewhat of a trap/catch-22. On one hand, you need/want the time to do your own stuff, but on the other you have the responsibility of doing your job well.
2.) Making my own way IS what I like doing. Some people may have a passion for accounting, I enjoy being an entrepreneur. I love having a busy schedule.
3.) I LIKE "Investment Vehicle Creating" as I am young and extremely motivated to become successful. WHY do I do this you ask? So I can be a lazy old man when I am older! When I am 50 and have a family to attend to, I doubt I will have as much motivation to stand on a corner with bums and sell water. If there is a perfect time in my life to establish a firm financial base for my life, it is NOW.
P.S. A lot of people say "Do what you love." I don't love doing ONE thing. I would go crazy if I had only one job or business to work at all my life. That is why I would like to continue my tradition of having income from several different sources. It is more stable that way, and it keeps me occupied.
Cheers!
-Nev
Look at this blog....Nev should be studying economics or business or the like, since it is evident that is where his interest lies.
Which ties into what I said before...do what you love, and money will come to you.
That $3,000 may have paid some bills...but it's not what I will tell my grandkids about some day.
Keep up your own little side adventures, and let me know about them!
-Nev
A business degree would be just about as worthless as a government degree to me. Why? Because I won't use either one.
Then why am I in college? Because I want to be. 'nuff said.
A business degree teaches you how to be a great employee for a firm which will pay you $40,000 out of college, but that is not what I am aiming for.
I know lots of business students who get internships and jobs straight out of college, and what do they say about these? "A blind monkey could do what I do at (insert company here)"
In the University Investment Association, I sometimes give presentations to FINANCE MAJORS on how to buy stocks. I've never even taken a class remotely related to stock, they have. I've just researched stocks on my own, something which helps you learn faster than HAVING to take a class on it.
Starting to get my drift?
First, if you had a business degree, then it would possibly be easier for you to obtain financing to finance your entreprenuerial dreams.
Second, your comment about being in college "because you can" is laughable. How can I take seriously any of your postings on this blog about you trying to scrape your pennies together, when you are willing to waste your time and money at Texas getting what you agree is a worthless degree "because you can."
Third, a basic background in business would teach you the fundamentals of how the economy works. Thus, your "water experiment" must be a spoof, or you must really need an education in business.
Why do I say that? Because you sold water at $1.00 a bottle. Did you research the competitive price of bottled water prior to setting this sales price? Did you draw any conclusions about why you sold all of your product in 1/2 hr, as opposed to the 5 hours allotted?
I find your blog entertaining, but some of your comments are curious.
Have you read mark cuban's blog? He has some great insight on it that would seem to appeal to you.
Sorry to open a can of worm with the major question.
I have a degree in engineering, but I'm a program manager right now. If you're smart, work hard, and have any business acumen, then you'll excel in your career. The motivation and drive that Nev shows will take him a lot farther in life than getting any kind of degree will. Do what makes you happy and the money will follow.
Kate
Okay, this proves you're an idiot.
If two people walk into my bank, one has a business degree, and one has a government degree, and ask for money to start a business, which am I more likely to give money to, all other things being equal?
http://www.entrepreneur.com/Magazines/Copy_of_MA_SegArticle/0,4453,320379----2-,00.html
I consider my self pretty well connected and can obtain financing by surpassing the bank.
A real entrepreneur doesn't always need mass financing to become successful.
My business that makess around $1,000 per month was started with $200 and a bank account I had my dad to sign for because I was too young.
Don't worry about me not having a business degree. I don't consider it a setback in the slightest sense.
A) I can support my parents should they need it.
B) I can indulge in my other interests which may or may not make me any money back, but which bring me pleasure (such as blogging, or skiing)
C) I have more money to raise a family on, including things like getting my future kids a computer, books, a bike, etc..
D) When I do start a family, I have the option to take off work to raise my children.
E) I love my field I'm entering. Making a lot of money in it would be a great bonus feature.
F) Making a lot of money would mean I was an asset to someone/something. I'm competitive by nature. It makes me a happy person to know I'm very good at what I do, if not the best. Being happy should always be a goal in life.
G) I'm always finding something that I'm wanting to help, be it a great sandwich shop that can't afford a nice paint job, to sponsor a child, to support an institution I think does great things...and money would make that possible.
As for the degree, I see college as a means to show the world you can make it through the standards of getting a degree, any degree. Having a government degree doesn't mean you know everything there is to know about government the same as a petroleum engineering degree just goes to show I can study and pass some tests. The gold is in the work experiece you get in college, be it internships, self started businesses, volunteering, etc., because that's where the knowledge you need to handle the real world can be found.
My $.02 (lol, you can add that to your totals ;-))
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