I'm looking for something interesting to do with my life. Got ideas? Thoughts? What would you do if you were me? I’m 31 and an entrepreneur living in NYC though currently in Europe.
Here's where I'm at financially:
My income has ranged from 20k to 300k, w/ an average of 70k. I’ve basically always lived on 20k regardless of how much I make. My net worth is a little under 550k w/ the following breakdown.
175k cash (mostly sitting in a high yield savings account around 1.5%)
175k investments between a taxable account and retirement accounts
134k business equity
30k of my cash sitting in the business which I draw $1,800 a month from
Note: I left business in 2016. I still own 70% and my business partner has the option to buy 40% from me at a 190k evaluation. It was break even for 2016-17 and has just started to become profitable again. Who knows if that will continue?
8k in crypto currencies
20k in tax credits that I can redeem in the future
10k (other random property, paid off car, etc.)
When I plug in just the cash and investments (assuming I have it all invested fully in the next few years) at 4.5% (I know I'm supposed to use 4% but I'm also leaving out my other assets and the likelihood I'll make money doing something), and factor in spending $2,200 a month, in 33 years the Future Value is $639,000.
What I've done professionally:
When I graduated from college I voluntarily lived homeless for a year and ended up starting a $3,000,000+ non profit and for profit social enterprise out of it.
I took this past year to write a book. Haven’t made any money yet (may never), but I’m really glad I did it and it’s been worthwhile.
What I think I'm good at:
My strength finders is Activator, Restorative, Achiever, Futuristic, and Connectedness.
I'm an ENTJ
I enjoy communicating both written and speaking (including public speaking)
I care deeply about creating a better world and having a sense of meaning and purpose in my vocation.
I’m likely to continue to be entrepreneurial for the rest of my life. It's not so much that I'm in love w/ entrepreneurship (I do enjoy it, but it’s very hard...) as that I see it as a valuable/important tool for addressing social problems. I tend to get rejected from more mainstream MBA programs and professions.
I'm actually in Europe now visiting models of what I think could be a successful business/social enterprise in the US. If I start the business that would probably mean in a best case scenario having no income from direct work for 2 years and the results could range from failing and not making any money to selling it for millions etc.
But I keep looking at my flight back on May 2 that cost $250 and thinking of cancelling/rescheduling. I do need to be back in the US for my dad's retirement party in early June. I thought I should throw it out to the mustachians to see what you would do in this situation, and in general next in life? Any idea/thought is a good one. Thanks!
