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Updated over 7 years ago on . Most recent reply

User Stats

7
Posts
4
Votes
Jason Carlton
  • Richmond, VA
4
Votes |
7
Posts

Atypical pre-REI situation: lower choppy income, new small biz

Jason Carlton
  • Richmond, VA
Posted

Hey all, brand spanking new to this forum and looking for guidance for a situation I haven't noticed being covered. Apologies in advance if there's too much detail!

So I really want to set myself up to get I to REI as soon as possible, but I'm not the typical 9-to-5, $50k/year office worker much of the advice caters to. I'm a $25k/year licensed massage therapist, just hit my first year of solo business (so still inconsistent revenue) while gradually tapering off my main job (diminishing revenue), so I'm entering a phase of much less predictable income. I've already learned to live pretty frugally with expenses around $1400/mo, though I could tighten up a bit more again. Still have around $20k in low to no-interest debt, and have about $7500 in savings.

My goal is financial independence in 10 years via building my business into a large practice while investing in buy and hold rental properties.

I know I basically need to knock out the debt, and save up for my first down payment. It just feels like a bit of a slow and lonely path I'll be on for a while, so I'm just looking for any inspiration, direction or advice I can get right now! 

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