I think Hoosier mentioned that his current income is $0! :shocked. I would think that $30K is VERY doable. In fact, why stop at 1 year? Keep it up until Mom & Dad give’ ya the boot! :biggrin It will take a lot of disclipine for sure. As a matter of fact, I believe FDJAKE posted a good thread a while back about what every newbie should read… I can’t remember the title…
Rookie makes good points also. Although the time and effort involved in investing aggressively is MONUMENTAL to say the least. I’ve been studying/learning stock investing/trading for about a year and feel I’ve only scratched the surface… But its a lot of fun and will help me get to where I want to be.
Putting our previous disagreements aside, fdjake and rookieNYC are right about living at home and saving
I left college in '05 and lived at home, while saving and getting involved with any good money making opportunity I could get into. That savings cushion gave me a HUGE advantage in anything I got into afterwards.
$50k might seem like a lot to you right now… but it’s a JOB, aka Just-Over-Broke… you’ll have a tough time saving anything significant once the expenses start rolling in and taxes take a bite.
Btw, going back to my previous post on the laundromat. There’s a convenient store right next to it and I spoke to the owner yesterday as a random new guy in the area interested in business. She said that she had a direct partnership in the previous laundromat. She said they closed a little over a year ago because the machines needed to be updated and the other partner wasn’t willing to put in the money. Remember, she has no reason to lie and doesn’t even know the laundromat is for sale right now.
Here’s the kicker, she said that after all expenses, employees, etc. that laundromat use to PROFIT $1,500 - $2,000 / WEEK!!!
Now that’s GREAT money for a cash business that’s 5min from my house and can be run absentee or semi-absentee… the profits may not be the same for me since there’s a huge equipment loan now, and that’s what I have to research :cool