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Desk Job v. Sidebiz/Sidejobs/enjoying life
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Date: October 2nd, 2015 10:46 AM Author: bearded spectacular theatre Most important existential question for you bros: Is putting in time at a lame office job worth it?
Is putting in time at a bullshit office job worth it vs. saying fuck you to society, starting a business no matter what it is to make $, working sidejobs, cafes, driving uber/working part time and enjoying your life?
I seem to side with the latter but the important issue of long term feasibility comes into play. Where will the non-office guys be in 15 years when office white collar dudes have finally worked their way up to good pay/thinking about retiring? You can't work at a cafe til you're 60. |
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Date: October 4th, 2015 10:24 PM Author: 180 area I enjoy living indoors and eating regularly, and that is why I keep my lame office job. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28900508) |
Date: October 2nd, 2015 10:47 AM Author: aromatic sex offender halford define "enjoying your life" (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28883322) |
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Date: October 2nd, 2015 10:50 AM Author: bearded spectacular theatre having free time to pursue hobbies, traveling once every 2 months to places you've never been. playing sports and going out 3 times a week. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28883341) |
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Date: October 2nd, 2015 10:50 AM Author: aromatic sex offender halford meh (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28883347) |
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Date: October 2nd, 2015 10:52 AM Author: bearded spectacular theatre lawyer? (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28883359) |
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Date: October 2nd, 2015 10:54 AM Author: aromatic sex offender halford No, I just find when you make enjoyment the focus of your life that it becomes elusive and meaningless (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28883370) |
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Date: October 2nd, 2015 11:04 AM Author: Supple charcoal trailer park way better than marriage and kids (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28883423) |
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Date: October 2nd, 2015 11:06 AM Author: aromatic sex offender halford why does everybody see everything as a binary choice here?
either rampant hedonism or marriage and kids, no in between...is this just an aspie thing? |
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Date: October 2nd, 2015 11:53 AM Author: bearded spectacular theatre if you want to fully run a business it's hard to sit a desk doing something else for 50 hrs a week (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28883735) |
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Date: October 2nd, 2015 9:09 PM Author: low-t corn cake tbf, he never said anything about rampant hedonism. he just said traveling and going out some and having hobbies. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28887326) |
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Date: October 2nd, 2015 12:06 PM Author: Swashbuckling Cream Hell Dog Poop "having free time to pursue hobbies, traveling once every 2 months to places you've never been. playing sports and going out 3 times a week."
i do all these things and make decent money. why don't you look for a 9-5? |
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Date: October 2nd, 2015 1:46 PM Author: bearded spectacular theatre but you sit a desk doing shit you don't want to do for 40hrs a week. you get a 3% raise every year if you're lucky. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28884653) |
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Date: October 2nd, 2015 1:54 PM Author: Jet dashing son of senegal fat ankles Depends on whether you want a wife + kid. Have an inheratance coming eventually, etc. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28884710) |
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Date: October 2nd, 2015 2:09 PM Author: bearded spectacular theatre Pretty sure I will inherit close to $1 million but that will be another ~20-30 yrs. Net savings is already around 70k. Why not live it up while in my 20's? Not sure if I ever want a wife or a kid. Life is too fleeting for that and I feel like I'd fuck it up. Not fair to them. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28884796) |
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Date: October 2nd, 2015 5:18 PM Author: bearded spectacular theatre it's friday 5PM. Everyone ready to enjoy the 2 days of non-wage slave labor? (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28886098) |
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Date: October 2nd, 2015 8:58 PM Author: Wild ruby tanning salon How much do you make? Are you older than 27?
U have prestigious credentials? |
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Date: October 2nd, 2015 9:07 PM Author: Swashbuckling Cream Hell Dog Poop sounds like an angsty millenial recent grad shithead to me. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28887311) |
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Date: October 2nd, 2015 9:08 PM Author: Wild ruby tanning salon Yup. Life will hit him with reality and he will be begging for a boring deskjob (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28887319) |
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Date: October 3rd, 2015 11:48 AM Author: bearded spectacular theatre Right now I have said desk job and lucrative side biz. I could make more money in side biz full time, but I'd rather but a double threat so to speak. I'm young and I worked hard for credentials, don't wanna throw that all away. A senior level white collard job could be 180. But so is making an extra 6k a montb with side biz (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28890482) |
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Date: November 9th, 2015 5:54 PM Author: Odious Harsh Sanctuary Give us a HINT on what your side business is? IT? (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#29146278) |
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Date: November 9th, 2015 9:18 PM Author: bearded spectacular theatre airbnb rentals (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#29147793) |
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Date: October 3rd, 2015 11:43 AM Author: bearded spectacular theatre Younger than 27, prestigious credentials yes (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28890461) |
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Date: October 27th, 2015 11:13 PM Author: bearded spectacular theatre i make 55k, 26, and pay 1.5k on rent every month in HCL city.
Some would say so, but my city is very 'network and put your time in' |
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Date: October 2nd, 2015 7:47 PM Author: Misanthropic spot (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28886792) |
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Date: October 2nd, 2015 8:59 PM Author: drunken bronze casino the white collar guys will have saddled themselves with wives and kids by the time they maek and as such, will have not made it in any way that meaningfully affects quality of life, other than perhaps marrying a truly horrid shrew (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28887265) |
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Date: October 2nd, 2015 9:12 PM Author: haunting hyperactive roommate Starting your own biz/firm is better, imo. Of course, if you're locked in with a wife/kids/tons of debt, it's difficult to do. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28887338) |
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Date: October 2nd, 2015 10:40 PM Author: ivory swollen travel guidebook I left biglaw to be a solo for that exact reason. I make less than biglaw but you can't put a price on freedom. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28888028) |
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Date: October 3rd, 2015 12:17 AM Author: haunting hyperactive roommate (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28888740) |
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Date: October 27th, 2015 11:14 PM Author: bearded spectacular theatre (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#29056495) |
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Date: October 2nd, 2015 10:57 PM Author: Mentally impaired alpha bros i am almost free.
40k in savings with 5k/month in passive income. |
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Date: October 2nd, 2015 11:11 PM Author: Mischievous vibrant trust fund HOW (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28888265) |
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Date: October 2nd, 2015 11:29 PM Author: Mentally impaired alpha Invested the income from my $60k/year shitjob into a side job with a very high ROIC.
The side job is getting increasingly time-consuming and lucrative, so not sure how much longer the $3400 after taxes will make sense. |
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Date: October 3rd, 2015 12:16 AM Author: Mischievous vibrant trust fund and let me guess, you can't or won't give any useful details about what side job you 'invested' in? (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28888730) |
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Date: October 3rd, 2015 11:44 AM Author: bearded spectacular theatre (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28890468) |
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Date: October 3rd, 2015 1:12 PM Author: Mentally impaired alpha i won't go into specific details but it involves the leasing of hard assets.
i started out leasing machinery long-term and sub-leasing it for a shorter term.
now i am starting to buy it as it's easy to get debt for hard assets and interest rates are low.
if you're starting from nothing and don't have specific skills, hard assets is the way to go (and it probably shouldn't be real estate if you want to get rich quick--real estate is pretty saturated so the only way to make REAL money is through appreciation, which is hard to guess). |
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Date: October 3rd, 2015 1:20 PM Author: bearded spectacular theatre Like chain saw loan mowers and shit? (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28891109) |
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Date: October 3rd, 2015 1:23 PM Author: Mentally impaired alpha i started out with shit like that but quickly moved upstream to heavier machinery. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28891125) |
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Date: October 3rd, 2015 1:45 PM Author: bearded spectacular theatre Like bobcats and shit? Where do you store them when they aren't being used? Aren't there a ton of liability issues? (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28891268) |
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Date: October 3rd, 2015 2:01 PM Author: Mentally impaired alpha storage isn't really an issue, it ends up backing out financially.
i have insurance, with an umbrella liability cap of $5MM. it's cheap--commercial insurance is a commodity, unless you are talking about stuff like patent insurance where there are unknown risks.
there are always issues with liability when you are doing a startup. you just kind of have to hope nothing terrible happens until you're at a scale where you are no longer vulnerable.
if you want to break free, you have to take risks. unless you break the law you aren't going to jail and the worst thing that can happen is bankruptcy, which isn't that much worse than being a corporate slave. |
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Date: October 3rd, 2015 2:51 PM Author: bearded spectacular theatre my business is in a legal gray area... meaning there is like a 10% chance i could get fined if caught (small fine, and no jail time). I think that's why I'm so apprehensive to do it full time.. I'm constantly teetering on the edge of quitting job and doing it full time and giving it all up to go wage slave full time. It's very frustrating to wallow in such indecisiveness. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28891741) |
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Date: October 3rd, 2015 7:46 PM Author: Mentally impaired alpha Sounds like Airbnb (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28893705) |
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Date: October 3rd, 2015 9:01 PM Author: bearded spectacular theatre yup. i think i already told this bord. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28894114) |
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Date: October 4th, 2015 5:23 PM Author: Mentally impaired alpha use the cash to do something else real estate-related or get properties in cities where it's legal.
as you move upstream, returns are not as good but the appreciation can still yield 60%/year while being cash-flow positive if you pick a place right. airbnb is something like 120%/year but that's the cost of being legal..
main reason i haven't quit shitjob is debt and not sure what my finances are--haven't had time to organize them. |
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Date: October 4th, 2015 10:05 PM Author: bearded spectacular theatre This is good advice. I've definitely thought of doing property management and trying to form a company based on me signing long term leases with house owners and then renting them out short term and keeping the difference. But I don't know if there's demand and I'd probably be violating code to do so.
I mean, my city has an agreement with airbnb and for every reservation is my city, city gets a percentage (guest is charged). So I don't think my city is going to come after anyone unless they are a straight slum lord, running a whole building as a hotel or something. Also, in the cities where it's legal, I imagine it's not profitable, and it's also not really legal - you have to get a license and approval and all this shit, and definitely couldn't get licensed if you're renting out an apartment that you're renting. But you're right, a property manager or company could potentially sue me... but for what? A few thousand dollars? It's not worth it for them.
My goal is to save up to buy a house and rent out short term. I'm like 6 months away from having 20% down. It would be awesome if I could find an investor, or even take out a loan (but I lack the business acumen to do so). That is essentially legal if I get the license to rent and I won't be breaking any building rules/having to deal with on site managers.
when you say "move upstream" i assume you mean buying properties and creating short term "corporate housing" or vacation rentals? |
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Date: October 9th, 2015 5:27 PM Author: Mentally impaired alpha OR you could do high volume conventional rentals in a cheaper area. some of the once-ghettoes in cleveland are becoming hip, for example. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28935401) |
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Date: November 8th, 2015 8:10 PM Author: bearded spectacular theatre sorry bro, I didn't see that throw away email. wanted to send you an email and chat. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#29139896) |
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Date: October 27th, 2015 11:20 PM Author: bearded spectacular theatre I'd hesitate to buy right now. I'd love to buy when the market crashes, which we are due for in the next 1-5 years...
Do you have a throwaway email to talk more? Cheers. |
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Date: October 3rd, 2015 12:23 PM Author: Dull Nowag Boiling Water Bro the cr is to stash cash and work hard in your 20s. Then you are set for life no matter what you want to do.
29 year old here with 800k NW. I plan to quit the office bullshit by 33-35.
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Date: October 3rd, 2015 1:21 PM Author: bearded spectacular theatre How did you stash 800k in your 20s? (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28891113) |
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Date: October 3rd, 2015 1:23 PM Author: Dull Nowag Boiling Water no student loans (scholarship) + 5 years biglaw + bull market + living on 35-40k per year. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28891124) |
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Date: October 3rd, 2015 1:25 PM Author: Excitant trump supporter still doesnt get you to 800k, but nice fantasy. have you heard of taxes? (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28891140) |
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Date: October 3rd, 2015 1:30 PM Author: Dull Nowag Boiling Water my post-tax earnings by year:
110k 125k 140k 160k 190k
savings by year:
80k 100k 110k 125k 155k
total savings:
570k
stock market plus real estate appreciation (bought home for 500k in 2011, up roughly 25% since then) gets me to 800K |
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Date: October 3rd, 2015 1:34 PM Author: Excitant trump supporter numbers add up hypothetically, if you have the discipline and in a low COL area. however, given you're ideal no debt big-law situation, the discipline is unnecessary unless you want to retire at 35 or something. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28891200) |
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Date: October 3rd, 2015 1:39 PM Author: Dull Nowag Boiling Water i agree it's not necessary if you plan on working till 65.
i haven't felt like i've made any sacrifices though. the sad truth is that i haven't had time to spend money as a biglaw associate.
i do get satisfaction that i'll have 1.5M saved by 33 and have plenty of flexibility post-biglaw. |
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Date: October 3rd, 2015 1:50 PM Author: bearded spectacular theatre Congrats bro, you did it like a rational person. I often think of going to a lower T14 with little debt but I don't think I could put up with biglaw for more than a few years, so its not really worth it. (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28891293) |
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Date: October 3rd, 2015 1:24 PM Author: Excitant trump supporter just have your parents heavily subsidize you (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28891132) |
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Date: October 3rd, 2015 1:26 PM Author: Dull Nowag Boiling Water lols. my parents are both teachers and had 4 kids.
i went in-state for ugrad (5k per year) and went to a lower t14 on full scholarship instead of hys. |
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Date: October 3rd, 2015 1:29 PM Author: Excitant trump supporter ok johnsmeyer. how much were you investing per year? (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28891162) |
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Date: October 3rd, 2015 7:49 PM Author: Wild ruby tanning salon How old were you when you graduated law school? Isn't the average age of law graduates 28??? (http://www.autoadmit.com/thread.php?thread_id=3006719&forum_id=2#28893719) |
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Date: October 5th, 2015 12:34 AM Author: Topaz Concupiscible Box Office Ape I've never had more free time as an adult than when working a 9-5. Trying to string together enough side jobs to pay the bills is far more stressful and time consuming. Starting a business can be credited, but you'll almost always have even less free time. |