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Updated almost 8 years ago on . Most recent reply

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114
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Conway Churaman
  • New York City, NY
20
Votes |
114
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Need a new Lifestyle Plan. Heck, I need an INTERVENTION!

Conway Churaman
  • New York City, NY
Posted

I had $30,000 ready to invest a year ago......HAD!  Where did it all go?  Grandmother's funeral, other unexpected life expenses.

That freaking job of mine.  That dead end 9 to 5 life and time waster at a New York City agency.  My savings are gone, I'm 46 but still feel like a 26 year old intern with no progress in my life.  They keep loading me with responsibility with ever increasing stress.  

I've had it.

I'm ready to do something crazy and different....I need to do something before it's really too late and I get too old to chase dreams.

I think I know what I want but my mind is clouded by stress and I can't see it all clearly yet. The parents are getting older and they've asked me for help. Perhaps I can start all over and temporarily move back in with them to save on rent while I have a chance to seek out BP mentors in the Florida market that would take me under their wing and expose me to the business. I've got a resume ready and I'm looking for accounts payable positions in the Orlando, Florida area that would help pay my bills while I learn about REI. I think the prospects of positioning myself down the road for REI in the Florida markets might be better or at least easier to initiate than for a beginner in the New York markets.

@Account Closed @Paula Pant and anybody else who may have creative ideas on how my life can possibly go this year.  

I thank you all.

Most Popular Reply

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2,680
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Scott Trench
  • President of BiggerPockets
  • Denver, CO
5,883
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2,680
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Scott Trench
  • President of BiggerPockets
  • Denver, CO
Replied

I don't know of a way to make tons of money and completely change a financial picture in a reliable manner in less than a year. Perhaps someone else can help with that. 

What I believe, that which is in my context and perspective, is that progress is made incrementally at the outset, and exponentially down the line. I incrementally saved my first $20,000, $1,000 at a time, month by month. I used that to buy an investment proeperty/house-hack, but if I was in NYC, I might have instead used that first $20K as a buffer to live off of while pursuing another income opportunity that offered a real chance for scale, or I would have used it to move out of such an expensive place to an area where I had a greater likelihood of pursuing financial freedom.

Financial freedom can be a herculean task, pursued from the eyes of someone living in NYC, but to me living in a less expensive city, financial freedom is just $3,000 to $5,000 per month in passive income, or 5-10 solid properties. That seems like a lot of money to me and very achievable (I currently enjoy about $1500 in cash flow per month) as someone that lives for free, has little debt, and does not have expensive tastes. It may seem like very little to a New Yorker. 

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