I did a consulting call today with a 33 year old guy who makes $150k a year at a fully remote job. 30-40 hrs a week. 2 kids + wife. This is a really tough spot to be in. Makes $2k a month more than he spends every month. Zero chance at long term wealth but too easy and profitable to leave. Golden handcuffs. It takes a serious level of ambition to get out of this situation and go buy or start a company. It’s hard to get excited about scraping and fixing toilets or power washing sidewalks when you make $75 an hour at your day job. And it’s impossible to feel comfortable buying a company if you don’t start out lower and work your way up (with that stuff that isn’t exciting when you get a taste of decent money). Difficult stuff.
@sweatystartup Getting a nest egg is required to make a big move. Take risk as early as you can.
@barrettjoneill I’m so glad I took the risk at 21 yrs old. It’s way harder at 35 when you have kids and a job that pays you $75 an hour.
@barrettjoneill @sweatystartup Gambled on a startup in my 20s. It got funded then an investor valued it at a couple million. Deal fell through, Google and Goldman swooped in and hired everyone. If I just plowed all of that money into a Roth IRA I'd be in a very different place. Compounding returns man.
@barrettjoneill @sweatystartup Wish I could have!!! I’m on the freedom 80 plan!
@barrettjoneill @sweatystartup Yes. Saved my bonuses instead of living large to start my own business at 28.