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Desk Job v. Sidebiz/Sidejobs/enjoying life
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Date: October 2nd, 2015 10:46 AM Author: Irradiated property 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: Startling ruby tanning salon ape 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: outnumbered dragon keepsake machete 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: Irradiated property 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: outnumbered dragon keepsake machete 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: Irradiated property 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: outnumbered dragon keepsake machete 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: Violent Ticket Booth 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: outnumbered dragon keepsake machete 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: Irradiated property 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: light ceo jew 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: Out-of-control carmine partner meetinghouse "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: Irradiated property 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: hairraiser corner 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: Irradiated property 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: Irradiated property 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: diverse lavender lay candlestick maker 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: Out-of-control carmine partner meetinghouse 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: diverse lavender lay candlestick maker 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: Irradiated property 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: Histrionic trailer park patrolman 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: Irradiated property 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: Irradiated property 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: Irradiated property 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: Concupiscible shitlib stage (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: Electric new version hell 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: Cocky twinkling site 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: fighting dopamine set 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: Cocky twinkling site (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: Irradiated property (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: comical office 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: Curious Box Office 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: comical office 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: Curious Box Office 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: Irradiated property (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: comical office 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: Irradiated property 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: comical office 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: Irradiated property 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: comical office 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: Irradiated property 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: comical office 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: Irradiated property 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: comical office 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: Irradiated property 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: comical office 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: Irradiated property 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: Irradiated property 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: heady circlehead 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: Irradiated property 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: heady circlehead 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: Spruce station round eye 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: heady circlehead 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: Spruce station round eye 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: heady circlehead 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: Irradiated property 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: Spruce station round eye 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: heady circlehead 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: Spruce station round eye 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: diverse lavender lay candlestick maker 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: anal fiercely-loyal library 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. |