Smart ways to earn extra money in the mean time?

I am going to put a little different perspective on this.

 

Currently you have hopes of getting a Lamborghini. That is an admirable goal, and very obtainable. I have several vehicles. Just paid off a Lexus RX350 where my payment was $1100 per month. I got a short loan term o high payments. My Lambo payments are around $1600 per month. So really not much different than my Lexus, and anyone with a normal job could afford that.

 

The question I want to ask you. What do you want out of your life long term? If you are going to scrimp and save, and not enjoy your life for 20 years just so that you can buy a Lambo, then it might not be the right decision. If you are just chasing money to buy a material object and have 20 years of unhappiness than you might want to rethink. You should be happy with your M5. It is a nice car. I am happy with my G, but it isn't an Aventador. Who cares - Mine is faster anyway .

 

You need to find a way to build long term wealth and not just the quick buck to buy your car.

 

Also you might need to make sure once you start living a lifestyle that you can afford to maintain it.

 

I don't make as much as other people on there, but my company was doing $500-$600K per month in sales and needless to say I was keeping $250-$300K per month in my pocket. Life was pretty good. Through theft of my employees my sales dropped to as low as $40K per month while my monthly expenses were still in the $250K per month range. Needless to say I went backwards FAST. I had save about $2M but had a lot of it in private investments that I can't liquidate. Life got really hard for quite awhile. We are just now back to the point of getting back on our feet. And when I say back on my feet I only owe the IRS about $400K in 941 taxes. We had about $150K in maxxed out credit cards, and in the past month have paid it down under 50%. I have over a million dollars equity in my home but due to IRS tax liens I can't touch it. And even though it is a corporation they are holding me personally liable for the trust fund portion of it. All in all we found out my employees stole around $4M in cash and $300K or more per month in ongoing business. We have proof of what they stole and my lawyers have told me that it could cost me as much as $750,000 to go after them to get a judgement and even then there is no guarantee that I will get any money back.

 

So not really sure where I am going with this, maybe I am just venting, but for peace of mind develop a lifestyle at whatever level it is and then sock some money away so that you can continue to live that lifestyle in case something happens.

That sounds horrible, how come you didn't notice your employees were stealing so much money from you? That's truly incredible.

 

i never mentioned this before in a post,

 

 

when i moved to vegas in 91-92, i dont even remember what year it was, i had just closed down 2 retail pet stores in nor cal, i was about 25 years old, and just came off a 3.75 year run, the first 3 years I did great, the last 8 months-game over. I learned a painful lesson. I went from a $350,000 networth to $55,000 all in cash, just a stack of c-notes. All that time for a half a brick-then i'd go up the the Shoe and eat the $2 steak. I had a room mate, lived on the $2 steak and the $4.45 buffet at the Gold Coast. I preserved as much of my "Stack as I could"

 

 

When I was at the Shoe-that's Horseshoe Casino Downtown Vegas, during the poker WSOP and other big poker Tourneys they had "Table 60" is where all the big cash games were at in Vegas. I'd go over there and watch Doyle, Freddy Deebs, Chip Reese, etc the whole collection of poker God's play, there would be $1M to $3M in cash and chips on the table at any given time. If you played on table 60-you were a fcuking player!!! I dont play poker.

 

 

The hard lesson for me was i busted my ass for my $55K or half brick of c-notes and these guys were tossing them around like nothing. WTF almost 4 year of my life and I got a half brick.

 

 

I was a loser, period. end of story, I signed NNN leases, opened stores, did all the right shit and after 4 years I got a half a brick, no job, no pussy and if i'm not at the pool room 12-15 hours a day i'm at the Shoe eating $2 steaks. Scuffing around pool rooms, going to Phoenix every 6-8 weeks because I could win more $ there playing pool, I play good but not good enough to be a pro, and Vegas has never had good pool action.

 

 

I was board, the burn rate of my $ was VERY SLOW, I had 3 years of college, before the 3.37 years of retail biz-shop keeper shit, but seeing those guys toss around $100K bricks (about $200K now adjusted for inflation)

 

 

 

I knew something HAD TO CHANGE!!!! Pool was such a grind, but it was better than trading hours for dollars. I was a free man, but i wasnt. I had to be at the pool room to wait for a sucker, customer, game what ever you want to call it. This was my 2nd pool grind period in my life, I did it from 85-88 as well. then went square into the Pet biz NNN leases,

 

 

Then one night a guy in the pool room, changed EVERYTHING. After I asked him a question. kinda like the OP in this thread,

 

 

 

That story tomaro, and i'll put the time into writing it better so i'm not accused of being stoned again, i'll bet pinks i'd pass a clean blood test.

 

 

So, serious question bro. Have you ever fallen over from patting yourself on the back a little too hard ?

i never mentioned this before in a post,

 

 

when i moved to vegas in 91-92, i dont even remember what year it was, i had just closed down 2 retail pet stores in nor cal, i was about 25 years old, and just came off a 3.75 year run, the first 3 years I did great, the last 8 months-game over. I learned a painful lesson. I went from a $350,000 networth to $55,000 all in cash, just a stack of c-notes. All that time for a half a brick-then i'd go up the the Shoe and eat the $2 steak. I had a room mate, lived on the $2 steak and the $4.45 buffet at the Gold Coast. I preserved as much of my "Stack as I could"

 

 

When I was at the Shoe-that's Horseshoe Casino Downtown Vegas, during the poker WSOP and other big poker Tourneys they had "Table 60" is where all the big cash games were at in Vegas. I'd go over there and watch Doyle, Freddy Deebs, Chip Reese, etc the whole collection of poker God's play, there would be $1M to $3M in cash and chips on the table at any given time. If you played on table 60-you were a fcuking player!!! I dont play poker.

 

 

The hard lesson for me was i busted my ass for my $55K or half brick of c-notes and these guys were tossing them around like nothing. WTF almost 4 year of my life and I got a half brick.

 

 

I was a loser, period. end of story, I signed NNN leases, opened stores, did all the right shit and after 4 years I got a half a brick, no job, no pussy and if i'm not at the pool room 12-15 hours a day i'm at the Shoe eating $2 steaks. Scuffing around pool rooms, going to Phoenix every 6-8 weeks because I could win more $ there playing pool, I play good but not good enough to be a pro, and Vegas has never had good pool action.

 

 

I was board, the burn rate of my $ was VERY SLOW, I had 3 years of college, before the 3.37 years of retail biz-shop keeper shit, but seeing those guys toss around $100K bricks (about $200K now adjusted for inflation)

 

 

 

I knew something HAD TO CHANGE!!!! Pool was such a grind, but it was better than trading hours for dollars. I was a free man, but i wasnt. I had to be at the pool room to wait for a sucker, customer, game what ever you want to call it. This was my 2nd pool grind period in my life, I did it from 85-88 as well. then went square into the Pet biz NNN leases,

 

 

Then one night a guy in the pool room, changed EVERYTHING. After I asked him a question. kinda like the OP in this thread,

 

 

 

That story tomaro, and i'll put the time into writing it better so i'm not accused of being stoned again, i'll bet pinks i'd pass a clean blood test.

 

 

So, serious question bro. Have you ever fallen over from patting yourself on the back a little too hard ?

So, serious question bro. Have you ever fallen over from patting yourself on the back a little too hard ?

 

 

Aram said "Bro", bro.

I am going to put a little different perspective on this.

 

Currently you have hopes of getting a Lamborghini. That is an admirable goal, and very obtainable. I have several vehicles. Just paid off a Lexus RX350 where my payment was $1100 per month. I got a short loan term o high payments. My Lambo payments are around $1600 per month. So really not much different than my Lexus, and anyone with a normal job could afford that.

 

The question I want to ask you. What do you want out of your life long term? If you are going to scrimp and save, and not enjoy your life for 20 years just so that you can buy a Lambo, then it might not be the right decision. If you are just chasing money to buy a material object and have 20 years of unhappiness than you might want to rethink. You should be happy with your M5. It is a nice car. I am happy with my G, but it isn't an Aventador. Who cares - Mine is faster anyway .

 

You need to find a way to build long term wealth and not just the quick buck to buy your car.

 

Also you might need to make sure once you start living a lifestyle that you can afford to maintain it.

 

I don't make as much as other people on there, but my company was doing $500-$600K per month in sales and needless to say I was keeping $250-$300K per month in my pocket. Life was pretty good. Through theft of my employees my sales dropped to as low as $40K per month while my monthly expenses were still in the $250K per month range. Needless to say I went backwards FAST. I had save about $2M but had a lot of it in private investments that I can't liquidate. Life got really hard for quite awhile. We are just now back to the point of getting back on our feet. And when I say back on my feet I only owe the IRS about $400K in 941 taxes. We had about $150K in maxxed out credit cards, and in the past month have paid it down under 50%. I have over a million dollars equity in my home but due to IRS tax liens I can't touch it. And even though it is a corporation they are holding me personally liable for the trust fund portion of it. All in all we found out my employees stole around $4M in cash and $300K or more per month in ongoing business. We have proof of what they stole and my lawyers have told me that it could cost me as much as $750,000 to go after them to get a judgement and even then there is no guarantee that I will get any money back.

 

So not really sure where I am going with this, maybe I am just venting, but for peace of mind develop a lifestyle at whatever level it is and then sock some money away so that you can continue to live that lifestyle in case something happens.

 

 

If you were netting a quarter mill a month why were you making car and house payments? Wouldn't you have owned those clear title?

 

So not really sure where I am going with this, maybe I am just venting, but for peace of mind develop a lifestyle at whatever level it is and then sock some money away so that you can continue to live that lifestyle in case something happens.

 

Serious question, how did your employees manage to get that figure to $4m and $300k/mo without you knowing it? I don't mean to delve into your private business, but I'm wanting to learn from this so I can cover my ass in the future. It seems like it would be difficult to hide that kind of money and sneak it out the back door, without it being super easy to trace and have them all in prison for the foreseeable future.

"A Guide to the Good Life: The Ancient Joy of Stoicism", http://www.amazon.com/Guide-Good-Life-Anci...s=the+good+life

 

Spending all your time chasing material goods is no way to live your short life. When they're a side-effect of doing something you care about, then that's great, but otherwise fcuk it.

 

I'd be back playing with Lambos on PlayStation any day of the week before cold calling or driving an Uber.

 

I'd happily trade all my toys if the choice was between them and being able to continue programming.

 

When you fantasize about what owning a Lamborghini will feel like, it seems like it's going to be the most magical thing in the world. It isn't. It just isn't. I love cars, but they're far down the ladder of things that add significant, sustained joy to living.

 

Another book to read on happiness: "Flow", http://www.amazon.com/Flow-Psychology-Expe...p;keywords=flow

Sure cold calling isn't fun, but its necessary if you want to make money! It takes the least amount of capital to become a listing machine. Even hiring a college student or two, is less capital then buying rentals. With a good pool of listings in you're name, the return is as good or better then rentals or even fixing up and flipping.

There are some very successful people dropping gold nuggets in this thread, and for that I thank you.

 

Some really great advice has been posted.

There are some very successful people dropping gold nuggets in this thread, and for that I thank you.

 

Some really great advice has been posted.

 

+1

Spending all your time chasing material goods is no way to live your short life. When they're a side-effect of doing something you care about, then that's great, but otherwise fcuk it.

 

I'd be back playing with Lambos on PlayStation any day of the week before cold calling or driving an Uber.

 

I'd happily trade all my toys if the choice was between them and being able to continue programming.

 

When you fantasize about what owning a Lamborghini will feel like, it seems like it's going to be the most magical thing in the world. It isn't. It just isn't. I love cars, but they're far down the ladder of things that add significant, sustained joy to living.

 

Amen. Being able to have a fulfilling life and being able to experience these "luxuries" as a byproduct of success is always the ultimate goal. Some people may not be fulfilled because they don't have these "things", but they are way less important than the basic necessities in life by FAR. Give me good health, good company, let me have freedom and work in a job that makes me happy yet also lets me sustain my OWN defenition of happiness/success etc. and life is a success.

 

I bet LV eric would trade the GT-R's in if it could fix some of his mentioned health problems.

 

Just bought those 2 books mentioned, thanks for posting those! Always looking for good reads.

 

 

Another great read for manaiging lifestyle and finances is The Richest Man in Babylon. It's a super-short read but has some great lessons and insight in it. It won't make you rich but at the same time it helps to put things into perspective.

 

And as mentioned before, don't lose focus on what is truly important, toys are just icing on the cake. Money, cars, and other materiel things come and go but great friends, family, and your health are thing you can't put a price tag on and you can never by them.

"A Guide to the Good Life: The Ancient Joy of Stoicism", http://www.amazon.com/Guide-Good-Life-Anci...s=the+good+life

 

Spending all your time chasing material goods is no way to live your short life. When they're a side-effect of doing something you care about, then that's great, but otherwise fcuk it.

 

I'd be back playing with Lambos on PlayStation any day of the week before cold calling or driving an Uber.

 

I'd happily trade all my toys if the choice was between them and being able to continue programming.

 

When you fantasize about what owning a Lamborghini will feel like, it seems like it's going to be the most magical thing in the world. It isn't. It just isn't. I love cars, but they're far down the ladder of things that add significant, sustained joy to living.

 

Another book to read on happiness: "Flow", http://www.amazon.com/Flow-Psychology-Expe...p;keywords=flow

 

This, words of wisdom, money is only a byproduct of your success, doing what you love is the most important thing IMO, I'd hate to do things I detest just for the sake of buying material things which in actual reality are really meaningless.

 

Just my opinion, but I think how you go about acquiring the $$$ also depends. For example, if you could do what you love and earn a decent income, but then do something that you don't hate, but don't love, for say seven years and earn seven figures or more, then retire from it with some real wealth and able to buy a lot of toys you couldn't before, and then return to or begin pursuing what you really love, then that would be acceptable I think. However if you could choose between a comfortable income doing something you really like or love and a very high income doing something you really despise, then I'd say do what you love.

In addition to the Millionaire Fastlane, another very good book (recommended by MJ) is The E-Myth. IMO, also check out The E-Myth Mastery. There is a new book out called The System Is the Secret about how to build business systems (as The E-Myth talks about, but in much more detail). I own a copy but haven't read it yet. It has good reviews on Amazon though.

Amen. Being able to have a fulfilling life and being able to experience these "luxuries" as a byproduct of success is always the ultimate goal. Some people may not be fulfilled because they don't have these "things", but they are way less important than the basic necessities in life by FAR. Give me good health, good company, let me have freedom and work in a job that makes me happy yet also lets me sustain my OWN defenition of happiness/success etc. and life is a success.

 

I bet LV eric would trade the GT-R's in if it could fix some of his mentioned health problems.

 

Just bought those 2 books mentioned, thanks for posting those! Always looking for good reads.

 

 

 

id give up everything to have a healthy back, your absolutely right.

 

 

it's not as bad as it was, i can function now with no pills(last 5-6 years) but its still not good. i have to be very careful.

 

 

$ is easy, health that's another story.

 

 

 

in other news:

 

I'll finish the story about me before I had any $, not having any $ sucks. Living just to make $ for the sake of making $ is a bad disease. i think that's the extreme in both directions.

 

Some ppl cant handle $$$, look at Michael Jackson, think if he had $1,000,000 he would still be alive?-I do. when you get to much $ you can put yourself in a bubble where nobody pushes back-and says "no more propofol", however MJ bought off anyone who said "No". There is another Hwood celeb right now going down that road-i seen it first hand, been watching it unfold past 3 months. mark my words-can's say who. just to validate this claim 3rd letter of last name is "e".

 

 

$ is the by product of good decisions in some cases, in other cases its the by product of unnecessary risk, time misspent. It's a complex topic. having no $ is horrible, having too much $ comes with its problems too.

 

 

i have to go now, or i'll cost myself $ lol

 

 

 

There is another Hwood celeb right now going down that road-i seen it first hand, been watching it unfold past 3 months. mark my words-can's say who. just to validate this claim 3rd letter of last name is "e".

 

 

 

"A Guide to the Good Life: The Ancient Joy of Stoicism", http://www.amazon.com/Guide-Good-Life-Anci...s=the+good+life

 

Spending all your time chasing material goods is no way to live your short life. When they're a side-effect of doing something you care about, then that's great, but otherwise fcuk it.

 

I'd be back playing with Lambos on PlayStation any day of the week before cold calling or driving an Uber.

 

I'd happily trade all my toys if the choice was between them and being able to continue programming.

 

When you fantasize about what owning a Lamborghini will feel like, it seems like it's going to be the most magical thing in the world. It isn't. It just isn't. I love cars, but they're far down the ladder of things that add significant, sustained joy to living.

 

Another book to read on happiness: "Flow", http://www.amazon.com/Flow-Psychology-Expe...p;keywords=flow

 

 

 

 

Reminded me of #5 and #6...

 

http://www.lambopower.com/forum/index.php?...=15842&st=0

 

 

 

 

Reminded me of #5 and #6...

 

http://www.lambopower.com/forum/index.php?...=15842&st=0

 

I have never seen that one before,

 

 

Reminded me of #5 and #6...

 

http://www.lambopower.com/forum/index.php?...=15842&st=0

 

I move that the following be adopted as the official "L-Power code of conduct for exotic car owners":

 

 

Lambo-Power code of conduct for Exotic Car owners:

 

1. It’s a fcuking car- Get over yourself. [see #6]

 

2. If you feel like cleaning it, clean it. If not, drive it anyways.

 

3. It’s your car. If somebody asks you a question- Answer it... Or don’t... Who gives a shit?

 

4. It’s your car. If somebody wants to get in your car and take a picture, if you feel like it, let them... If you don’t feel like it, that’s cool too...

 

5. Buying an exotic car is not the pot of gold at the end of the rainbow. It’s part of the journey. It won’t make grey skies blue, and it wont result in you never having a bad day again... You’re human... You’re allowed to have a bad mood every now and then. If that means you get tired of being asked a litany of endless, ridiculous questions by the three toothed trailer troll at the gas station, and snap and respond rudely... That’s fine with the rest of us... You don’t represent anybody but yourself...

 

6. Please note, none of the above make you a snob, or an a-hole... The notion that ownership of an exotic car exalts the owner into some status where special rules of behavior are necessary, is patently ridiculous... If you were an asshole before you bought it, you’ll still be an asshole after you buy it, and tips from Ms. Manners wont help you. If you were a miserable fcuk beforehand, chances are you’ll be a miserable fcuk with an exotic car afterwards. If, on the other hand, you were a genuine, decent person before the purchase, and you aren’t buying it to overcompensate for some self-perceived character flaw such as an incredibly small penis, a mid-life crisis, uncontrolled hair loss or a latent personality disorder, you’ll still be a genuine, decent person with a kick-ass car, and your behavior will reflect that without a self-aggrandizing and overly patronizing reminder from me.

 

SPOT F*CKING ON

Don't be afraid to take the steps instead of wandering around looking for an elevator. Enjoy life versus slaving away to buy material things. The sunset you miss, the girl you don't talk to, the child you don't have, the chance to kick Allan in the balls, those are the things you'll regret looking back, not whether or not you bought a car.

 

If you want to earn money I suggest you do what you are good at if you want to get paid, not what you enjoy doing. If you can manage to integrate your skill into something you enjoy, your winning at life, but thats usually not the case. When a job comes easy to you, its not hard to enjoy it. Its easier to make money when you do things better then others.

Don't be afraid to take the steps instead of wandering around looking for an elevator. Enjoy life versus slaving away to buy material things. The sunset you miss, the girl you don't talk to, the child you don't have, the chance to kick Allan in the balls, those are the things you'll regret looking back, not whether or not you bought a car.

 

If you want to earn money I suggest you do what you are good at if you want to get paid, not what you enjoy doing. If you can manage to integrate your skill into something you enjoy, your winning at life, but thats usually not the case. When a job comes easy to you, its not hard to enjoy it. Its easier to make money when you do things better then others.

 

 

 

Romandads post from this thread:

 

Not EVRYBODY is born with the ability to be a pro football player... Likewise, not EVERYBODY is born with the ability to start a business.

 

We all have talents... And we all have talents that are UNIQUE to ourselves... Whatever your talent is, NURTURE it... and then EXPLOIT IT.

 

I for instance, have a talent for the law... AND I have a talent for judging where broad equity markets will head in the future... I have exploited both of those talents, and done just fine.

 

 

Don't be afraid to take the steps instead of wandering around looking for an elevator. Enjoy life versus slaving away to buy material things. The sunset you miss, the girl you don't talk to, the child you don't have, the chance to kick Allan in the balls, those are the things you'll regret looking back, not whether or not you bought a car.

 

 

 

Reminded me of #5 and #6...

 

http://www.lambopower.com/forum/index.php?...=15842&st=0

 

 

 

First time I see that.