That's all.
Tuesday, March 28, 2017
Clackety Clack
I'm not sure if the keyboard I'm using is a mechanical keyboard or not, but it has a great clicking sensation whenever you type on it and when you're hands are flying on the keyboard it just feels so gratifying and like you're typing a million miles an hour even though I still type quite slow.
That's all.
That's all.
Tuesday, March 21, 2017
Rat Race Progress
So I want to retire. Ya I'm 31, but who cares. I know there are better things I could be doing with my time than working a full time gig, especially lining someone else's pockets while I do it. Not only do I want the time freedom, the money with retirement would be nice, but I also don't want to work 20-30 years to get there either.
To that end, and with a few previous posts on a painting business, I thought I'd post another blog on my progress to that end goal. I go to work each day, or in today's case, work from home, and see my coworkers all around me, including my boss and his boss working 'hard'. Though sitting at a desk is slowly killing all of us and our backs and legs and posture, compared to manual labor, sometimes it feels like a joke to get paid good money to touch some buttons on a keyboard and hardly talk to anyone all day, but that is mine and a lot of other people's current state of affairs when it comes to their 9-5. But I digress.
My boss. Nice guy. Smart, gets along with people even in 'tense' times of disagreement, and doesn't smell. But...he's maybe 40 or mid 40's and he is still busting his chops and drives a beater. Sure he's got a larger family, is busy with church stuff after work, and even has his inlaws living with him because they couldn't really save while they were working due to health and economy issues, but i'm sure my boss makes a decent wage considering the size of the team, size of the department's revenue, and technical experience/know how. Even still I can't picture him saying he's out of the game if he wanted in the next six months or even six years or even 16 years. And with that in mind...I don't want that to be me either. They say that if you want to go somewhere or be like someone you have to do what they do and what my boss is doing and for how long he's been doing it isn't what I want to be doing.
So I built this simple calculator found here:
Rat Race Calculator
It is a very simple concept. You only fill out the blue cells and then you can see how long it'll be till your passive income from investments (dividend yielding stocks, bond payments, reit payments, hard money lending, rental unit income, or businesses) surpasses your monthly expenses. I could've built a dropdown list of all the possible expense possibilities like student loans and old navy credit card etc, but i'm lazy and only plugged in the few that I had myself.
I also thought about (and I did find, but wasn't quickly able to implement) adding in taxes into the spreadsheet and maybe I still will when I find the time or I'm just extra curious/bored, but that is also something to consider long term.
So for me I've been working on growing a painting business for less than a year, approximately 9 months right now, and its grown a decent amount. Last year Scott and us grew about 88%, up to about 110k, with our portion/contribution growing the business about 64% if I remember right. Scott text the team earlier this week saying that gross receipts last week were about 6-7k, which extrapolated out would indicate the business growing by almost 300% this year alone, or to about 320k. What is exciting about that is that may be conservative as we're a few days out from applying to be licensed and so once we are it is very likely that we'll win even more jobs that we go bid on.
For our portion, 20% of profit after expenses, so far the painting business has won us about $420/month in passive income. Not blow your mind kind of numbers, certainly nice, but if we can continue the trajectory of growth steady (don't know currently if that is possible or not), but at $420/month and taking 9 months to get there, using the calculator I project that we'll be out of the rat race just 4 days after my 36th birthday, which would be nice!
So I'll keep everyone posted and please do use the calculator to see how far out you are, where you could trim your expenses to get there faster, and what investments you should focus more of your time on to bring your rat race retirement date sooner.
To that end, and with a few previous posts on a painting business, I thought I'd post another blog on my progress to that end goal. I go to work each day, or in today's case, work from home, and see my coworkers all around me, including my boss and his boss working 'hard'. Though sitting at a desk is slowly killing all of us and our backs and legs and posture, compared to manual labor, sometimes it feels like a joke to get paid good money to touch some buttons on a keyboard and hardly talk to anyone all day, but that is mine and a lot of other people's current state of affairs when it comes to their 9-5. But I digress.
My boss. Nice guy. Smart, gets along with people even in 'tense' times of disagreement, and doesn't smell. But...he's maybe 40 or mid 40's and he is still busting his chops and drives a beater. Sure he's got a larger family, is busy with church stuff after work, and even has his inlaws living with him because they couldn't really save while they were working due to health and economy issues, but i'm sure my boss makes a decent wage considering the size of the team, size of the department's revenue, and technical experience/know how. Even still I can't picture him saying he's out of the game if he wanted in the next six months or even six years or even 16 years. And with that in mind...I don't want that to be me either. They say that if you want to go somewhere or be like someone you have to do what they do and what my boss is doing and for how long he's been doing it isn't what I want to be doing.
So I built this simple calculator found here:
Rat Race Calculator
It is a very simple concept. You only fill out the blue cells and then you can see how long it'll be till your passive income from investments (dividend yielding stocks, bond payments, reit payments, hard money lending, rental unit income, or businesses) surpasses your monthly expenses. I could've built a dropdown list of all the possible expense possibilities like student loans and old navy credit card etc, but i'm lazy and only plugged in the few that I had myself.
I also thought about (and I did find, but wasn't quickly able to implement) adding in taxes into the spreadsheet and maybe I still will when I find the time or I'm just extra curious/bored, but that is also something to consider long term.
So for me I've been working on growing a painting business for less than a year, approximately 9 months right now, and its grown a decent amount. Last year Scott and us grew about 88%, up to about 110k, with our portion/contribution growing the business about 64% if I remember right. Scott text the team earlier this week saying that gross receipts last week were about 6-7k, which extrapolated out would indicate the business growing by almost 300% this year alone, or to about 320k. What is exciting about that is that may be conservative as we're a few days out from applying to be licensed and so once we are it is very likely that we'll win even more jobs that we go bid on.
For our portion, 20% of profit after expenses, so far the painting business has won us about $420/month in passive income. Not blow your mind kind of numbers, certainly nice, but if we can continue the trajectory of growth steady (don't know currently if that is possible or not), but at $420/month and taking 9 months to get there, using the calculator I project that we'll be out of the rat race just 4 days after my 36th birthday, which would be nice!
So I'll keep everyone posted and please do use the calculator to see how far out you are, where you could trim your expenses to get there faster, and what investments you should focus more of your time on to bring your rat race retirement date sooner.
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