[GreenTobacco]

I've come up with a solid business plan and making a good lifestyle. Its in a tough agribusiness field so its a lot of hard work, but solid returns once things fall into place.

I don't have the cash and probably need 5-6 years to save up to start the business.

I'm thinking of heading to an oil job or something similar for that time.

Is it worth it? I mean, there are alternatives like getting a location independent gig doing web design or customer service. That would net 10-15K per year and allow a good lifestyle in Southeast Asia. A decent lifestyle, but nothing huge.

What about you guys: would you consider bascially giving up 5-6 years of your life working in an oil field surrounded by other men....and then have then chance to live well later?

Or would you take a more balanced approach?

[rekruler]

I think this is a dilemma most guys who have actually taken the time to step back and analyze what they want out of life have. Personally, throughout high school and college I was convinced I wanted to be a doctor, and even now the nature or the work and the financial benefits appeal to me. In the end though, I decided that sacrificing my entire 20's and most of my 30s wasn't worth it. There is a great line from Simon Murray's memoir Legionnaire that I think hits the nail on the head:

The corridors of life today seem narrow and the materialistic ends we seek require a constant progression along the path from the moment we take our first examination. But there is time. And to those who totter on the brink, my advice is to climb the mountains of life, and do so while you are young, and you will be happy at 60


Everybody is different, of course. Look at a guy like Warren Buffet. That mofo has had more money than he ever needed ever since he was in his 20's, yet from what I can tell he has never taken the time to actually live his life. For me, on the other hand, money is definitely very important and I do plan on becoming a baller at some point in my life, God willing, but it's not so important that I am willing to give up the best years of my life and the thrill of being young just so I can drive expensive cars and live in a big house starting from 42 rather than 50. But again, everyone is different.

[GreenTobacco]

Great post rekruler.
Its really disheartening when life pushes you into these narrow corridors. You either go all in and hit it big or you get average pay and just enough to cover basic expenses.

The more I think about it, the less I want to give up years of my life. I don't believe in reincarnation so these are the only good years I've got.

Plus, the world is changing fast. People are saying Brazil and Poland are changing for the worse.

Tellingly, I got PMs asking me about the location independent gig with low pay.

There are some small business ideas I have that will get me a good income, but its like you said....I won't be driving nice cars until 50, instead of 35.

[WestCoast]

You have to make the decision yourself on what you want out of life. To be honest life gets better and better through your 20's. I threw away my early 20's working harder than a one legged man in an ass kicking contest (100 hour work weeks). It paid off. I didn't bang a ton of chicks then but if you put in the work you don't really have any financial worries when you're in your late 20's. I would do it again and again if given the choice.

You start looking more handsome as a man at 30 or so as well, so... Tbh I would throw away my early 20's if it sets you up for the rest of your life.

I actually don't mind the USA. I know that's a felony around these parts but I also know I can leave when it gets too shitty.

Finally, how anyone can presume warren buffet didn't live it up is beyond me. He can literally do whatever he wants soooo that means his current life is exactly what he wants to do. He can quit Berkshire today, he continues to work, this means he loves running and growing HIS company.

I used to believe in retirement, 2013 changed all of that, it's just a trap.

[WestIndianArchie]

(01-04-2014 11:54 PM)GreenTobacco Wrote:  

I don't have the cash and probably need 5-6 years to save up to start the business.

Or you could get funding/financing.
What would be easier, working 5-6 years risking life and limb in mineral extraction - and possibly getting distracted, or starting small and finding investors to take you to the next level?

WIA

[Sawyer]

I would say that being young and stupid isn't remotely as satisfying as being old and accomplished. Life is about integrating with the world to your full capacity. Buffet flies around the world in a BBJ, hobnobs with the powerful in every country and calls shots on a meta level. Contrary to popular myth, anyone who would trade that for a few years of boozing and travel while young is out of their mind.

Bust your ass while you are young and your mind is malleable and establish a record of success. It's so easy to slip out of the world, and nearly impossible to slip back in if you have wasted your opportunities in search of "fun and adventure."

Enjoying your youth is not even close enough a price to pay for being 50, poor, clueless and UNACCOMPLISHED IN THE WORLD TO YOUR FULL CAPACITY (the worst pain of all).

WIA is right. If you can get financing that would be ideal. Otherwise hit the oil fields.

[GreenTobacco]

(01-05-2014 01:05 PM)WestIndianArchie Wrote:  

(01-04-2014 11:54 PM)GreenTobacco Wrote:  

I don't have the cash and probably need 5-6 years to save up to start the business.

Or you could get funding/financing.
What would be easier, working 5-6 years risking life and limb in mineral extraction - and possibly getting distracted, or starting small and finding investors to take you to the next level?

WIA

I'm looking to fund a farm.
Farming is one of those fields that is very profitable but it has a huge barrier to entry.

You need at least 200k to get started as a farmer in eastern europe, which is actaully very little when you consider you need a million or more in the US.

Most people will never have enough to open a profitable farm innthe US because you need huge land in order to become viable. Its possible abroad but you still need huge land area.

This is one of those business where you really can't start small. You need a minimum size to be able to cover expenses- taxes, fuel, living expenses, fertilizer or animal feed, etc

[samsamsam]

People do what in their mind gives them the greatest happiness. Or what they think will give them happiness. Buffet did/does what makes him happy. No one can judge what makes another person happy.

This thread makes me think of a quote I heard once. Just paraphrasing.

Play now, work later. Work now, play later. Whatever you do last, you do longest.

[WestCoast]

Green based on your answer all you need is about 4-5 years on the oil fields it's a no brainer IMHO to go.

Cash over ass. Always.

Who knows you may make it to the top. Then you may rethink your belief system. Don't dick around with 10K a year living in Thailand when you can get what you really want in a measly five years

"We fail because we give up what we want the most, for what we want in the moment"

[GreenTobacco]

You make a good point westcoast.
I'll look into some good offshore oil jobs too, those are great because they're tax free if you dobit right.

No point in paying taxes if you're not gonna live in the US and make use of retirement benefits.

[WestCoast]

^ do not do not do not sell yourself short.

Don't ask randoms on the Internet to validate your desire to "chill". Just look in the mirror. Where do I want to be in 10 years?

Be honest.

If it really is making $10K a year in Thailand. Great. Based only on these posts though I can tell you that is more likely wrong.

You're smarter than that.

[samsamsam]

I have no idea if this is possible. But if you want a farm in an EE country, what are the laws around residence, etc?

I ask for this reason. Maybe you could raise money from guys who just want to have residence there, or some benefit other than the business itself.

In America there is the EB-5 visa. Wealthy people do it all the time.

So if you were to couple a good investment idea with residence for an investor(s) maybe you have something you can do the farm now. If your farm is within decent distance of a city and you could build some guest units, maybe you could make attractive for someone to invest if they had a place to stay.

Just think about what you can offer that an investor might be interested in.

Good luck.

[SpecialEd]

(01-05-2014 12:52 PM)WestCoast Wrote:  

Finally, how anyone can presume warren buffet didn't live it up is beyond me. He can literally do whatever he wants soooo that means his current life is exactly what he wants to do. He can quit Berkshire today, he continues to work, this means he loves running and growing HIS company.

I used to believe in retirement, 2013 changed all of that, it's just a trap.

The guy lives in the same rundown house he bought in the 50s. He is infamous for being a penny pincher. Many billionaires live surprisingly boring lives. Maybe that's what it takes to get there...

Time is the issue here. You dont need 'alot' of money to live the life o'reilly in a country like Colombia. If you're earning $3-4K a month, you are wealthier than god. If you did it right, you could easily achieve that type of passive income by the time you are 30. Just buy and rent out a couple quadriplexes...

Or you could works your balls off in NYC, London,etc..chasing that elusive line of $0's until you are 60. At that point, its too late to enjoy what you earned.

[WestCoast]

^ come on man... you can't criticize the life choices of a BILLIONAIRE.

I'll go back to trying to get there.

Just because one guy didn't leave the country doesn't mean you can't leave when you want. Earlier in 2013 I wrote my goal was to just move to SA and live off passive income and a chill job. I can do that today... Here I am still in the USA waiting to see if I can cap out my potential.

I suggest everyone "make it first" before they decide to give life advice to someone who is better than them.

People think I am a cocky asshole on here. I am. But I am not gonna give life advice/criticize someone who is destroying me on every level in the game of life.

If I get a billion dollars and decide to just run lines of coke off hoes in Colombia I will let y'all know haha. (No I won't be a billionaire so I don't think! Can always dream though).

Finally as I mentioned above I don't hate the USA, yeah I know a felony here, but if it gets bad I'll see you guys in Bogota.

[GreenTobacco]

(01-05-2014 02:55 PM)samsamsam Wrote:  

I have no idea if this is possible. But if you want a farm in an EE country, what are the laws around residence, etc?

I ask for this reason. Maybe you could raise money from guys who just want to have residence there, or some benefit other than the business itself.

In America there is the EB-5 visa. Wealthy people do it all the time.

So if you were to couple a good investment idea with residence for an investor(s) maybe you have something you can do the farm now. If your farm is within decent distance of a city and you could build some guest units, maybe you could make attractive for someone to invest if they had a place to stay.

Just think about what you can offer that an investor might be interested in.

Good luck.

Sounds cool, but that would take even more money. The closer it is to a city, the priceier the land.

Opening a hostel is something I also wanted to do but I heard of foreigners getting squeezed out by corrupt officials.

[SpecialEd]

(01-05-2014 03:13 PM)WestCoast Wrote:  

^ come on man... you can't criticize the life choices of a BILLIONAIRE.

I can and I did. Money isn't the only rubric of success. Spending 75% of your life stacking paper is nothing short of pathetic.

Once you have the bases covered, it behooves you to focus more on developing yourself as a human being. There is so much 'wealth' to be gained outside of the market place. Studying philosophy, for example, wont put dollars in your bank account but a man who studies it is richer than one who has not.

[WestCoast]

Alright my man.

Do you know what his life was like between 20-50? No one does.

All I know is the real wealthy guys I know live "dual lives" they may have "wives" but trust me they are not faithful by any means.

Last year I went to an insane party because of a major market moving event. Met a huge PM think $10M a year in income. He looked like a beta weirdo.

5 hours later this guy is blowing lines off a escort in a strip club. I am near black out drunk and he is higher than a kite.

4 days later he is giving a speech and no one is the wiser.

You can go ahead and insult/criticize someone you don't know who is way more successful than anyone on this forum.

I don't do that anymore. I only listen to people who are better than me and if they are better than me I will stfu and try to learn something.

It's pretty low to assume something about a 70+ year old whom you've never met.

Finally, to put an axe in this whole convo. Go buy ONE share of Berkshire A. You get a n invitation to the shareholders meeting. You go there and tell me this guy can't get laid if he wants and I'll give you 2x the share price!

We can agree to disagree. I will never ever criticize someone better than me. It's just sour grapes.

[Que enspastic]

I think I'm living an enjoyable albeit penniless life in my mid-20s here in London. I'm living in the best area for young professionals and unparalled logistics for swooping with enough cash for 4 weeks holiday per year but not much else due to cost of living/salary/choice of rental location. If I work hard I should be on six figures+ in (USD/AUD) by mid-30s and then six figures+ in GBP by 40s with opportunities to leverage that into overseas projects/careers if I so wish. By mid-40s I should be eyeing management roles at top companies or have struck out on my own as an independent business owner. I already own stocks & shares and have an always improving investment mind.

[Giovonny]

Warren Buffet lives with 2 women.

Google it.

He is a lot more interesting than you might think.

[NFallin]

(01-05-2014 03:13 PM)WestCoast Wrote:  

Earlier in 2013 I wrote my goal was to just move to SA and live off passive income and a chill job. I can do that today... Here I am still in the USA waiting to see if I can cap out my potential.

I suggest everyone "make it first" before they decide to give life advice to someone who is better than them.

Hey Westcoast you've been hinting at this new "capping out your potential" direction, when previously it was hitting your number and then pulling the plug. Just curious what this means to you and the actions you're taking to execute this new path.

[WestCoast]

Well it's no different than what I have been doing before, do everything I can to out work everyone and be as efficient as possible.

That said the reason I changed can be described as follows:

I think you were the guy who landed a job last year in the oil sands (or something similar). Take how you felt at that moment. When you got the offer, signed the paper. Remember the high. The highest point.

Now imagine not feeling like that all the time but being able to make everyone around you feel like that when you enter a room. That is the new end game. Become the cancer of success!

My goals have changed a lot and the funny thing is everyone keeps telling me I am going to "slow down". I am getting worse. The last 2 months were insane and I can't even sleep more than 5 hours anymore because I am too energetic.

All that said, if things really get shitty I'll leave but until then as long as I see more opportunity, more paths to success, more women, more money, more friends more XYZ. I am going I keep my foot on the gas.

If I hit the wall going 100mph in a tesla so be it, at least I tried.

---

Also you'll notice another theme is I seriously don't care about opinions based on zero experience. That was a major lesson in 2013. Unless someone has done X I am going to nod agree and ignore them. An opinion based on zero actual experience is not an opinion it is a blind shot in the dark guess. Seen this backfire too many times in my life now.

[rekruler]

I think my post was taken the wrong way, although it's mostly my fault because I didn't put the right nuance into it. I'm not advocating a hippy "sha la lalalala live for today" mentality that mortgages your future for some fun today. I'm a future time orientation kinda guy, and if I'd had the option of working 100 hr weeks in a front-office capacity in high finance the way West Coast did I'd jump on it in a heartbeat. You do that on Wall Street in you early 20's and by the time you become a MD in your 30s you're totally fuking set. You'd have to be a dumbass to give up that kind of opportunity in favor of teaching English in Thailand or the like.

The thing is, wall street jobs are one of the few situations that are so cut and dry. For those of us who don't work at bulge bracket banks, sacrificing our 20s is no guarantee of a payoff in our 30s or, indeed, ever. Personally, I'd be very reluctant to give up all hope of enjoying myself during my 20's unless I was darn sure doing so would yield an epic 2nd half to my life, and I'm not talking about laying on the beach as a geezer, either. The truth is, unless you've managed to put yourself in an ideal situation, life is all about tradeoffs and uncertainties and the best you can hope for is to try and have a balanced approach between setting yourself up for the future while not throwing away the present.

[jimukr104]

(01-05-2014 03:55 PM)SpecialEd Wrote:  

(01-05-2014 03:13 PM)WestCoast Wrote:  

^ come on man... you can't criticize the life choices of a BILLIONAIRE.

I can and I did. Money isn't the only rubric of success. Spending 75% of your life stacking paper is nothing short of pathetic.

Once you have the bases covered, it behooves you to focus more on developing yourself as a human being. There is so much 'wealth' to be gained outside of the market place. Studying philosophy, for example, wont put dollars in your bank account but a man who studies it is richer than one who has not.

But actually the majority of the wealthy are quite frugal.Interestingly they also don't want to leave most to their children and breed laziness.But eventually wealth creates wealth and enough is enough!
Agreed not investing in 3rd world countries where property rights are ,well, based on corruption.

[Tail Gunner]

(01-05-2014 01:33 PM)samsamsam Wrote:  

This thread makes me think of a quote I heard once. Just paraphrasing.

Play now, work later. Work now, play later. Whatever you do last, you do longest.

That is exactly right. Another issue is that if you cruise through your 20's without developing a work ethic, organizational skills, and the myriad of other character traits needed for long-term financial success it is highly unlikely that you will develop those attributes later in life.

I have seen friends and family party through their 20's (and even their 30's) and it does not end well, unless you want to settle for an average job, little savings, and few options later in life. IMO, it is short-sighted and stupid.

If you work hard while you are young and bank some serious capital you will have more life options than 99.9% of those persons living in the industrialized world. Just as importantly, you will deserve it -- and appreciate it.

I applaud the OP for at least pondering that question. Few guys his age do.

[worldwidetraveler]

(01-05-2014 10:46 PM)Tail Gunner Wrote:  

(01-05-2014 01:33 PM)samsamsam Wrote:  

This thread makes me think of a quote I heard once. Just paraphrasing.

Play now, work later. Work now, play later. Whatever you do last, you do longest.

That is exactly right. Another issue is that if you cruise through your 20's without developing a work ethic, organizational skills, and the myriad of other character traits needed for long-term financial success it is highly unlikely that you will develop those attributes later in life.

I have seen friends and family party through their 20's (and even their 30's) and it does not end well, unless you want to settle for an average job, little savings, and few options later in life. IMO, it is short-sighted and stupid.

If you work hard while you are young and bank some serious capital you will have more life options than 99.9% of those persons living in the industrialized world. Just as importantly, you will deserve it -- and appreciate it.

I applaud the OP for at least pondering that question. Few guys his age do.

Yep, I cringe when I hear about traveling throughout your 20's and working later in life. I don't see any skills being developed and good luck with employers hiring someone who hasn't had a long term job for about 10 years.