Author Topic: Want to Retire Faster? Don't Invest. Start a Business Instead.  (Read 25289 times)

SeattleCPA

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Re: Want to Retire Faster? Don't Invest. Start a Business Instead.
« Reply #100 on: March 08, 2017, 07:56:09 AM »
I just want to say I love your enthusiasm and optimism CargoBiker. This thread is the epitome of the saying:

"If you think you can, or think you can't, you are right."

+1

SwedishMoustache

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Re: Want to Retire Faster? Don't Invest. Start a Business Instead.
« Reply #101 on: March 08, 2017, 08:30:00 AM »
What's the business culture like in Sweden?  I've had a Swede tell me that it's culturally looked-down-upon to try and go off on your own and create a high-earning business. He also told me that business failure is very embarrassing, and people tend to hide failures from their past.   Is this true of your experience as well?

It's looked-down upon to earn money in sweden.

No, really. I'm serious. If you're an extremely well-off person (currently, i make as much money as an entire, wealthy household of 2 people together after taxes), you don't want to around telling anyone. Ever. While i won't be in this position forever, i will always be careful telling people just how my finances look because of this. It also makes it very hard to find a partner who is financially suitable, because most swedes live very much paycheck-to-paycheck, but would never admit that they do.

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The Law of Jante (Danish: Janteloven, IPA: [ˈjand̥əˌloʋˀən]; Norwegian Bokmål: Janteloven, Nynorsk: Jantelova, IPA: [ˈjɑntəˌlɔːvən]; Icelandic: Jantelögin; Swedish: Jantelagen, IPA: [ˈjantɛˌlɑːɡɛn]) is the description of a pattern of group behaviour towards individuals within Scandinavian communities that negatively portrays and criticises individual success and achievement as unworthy and inappropriate. The Jante Law as a concept was created by the Dano-Norwegian author Aksel Sandemose,[1] who, in his novel A Fugitive Crosses His Tracks (En flyktning krysser sitt spor, 1933, English translation published in the USA in 1936), identified the Law of Jante as ten rules. Sandemose's novel portrays the small Danish town Jante (modelled upon his native town Nykøbing Mors as it was at the beginning of the 20th century, but typical of all small towns and communities), where nobody is anonymous.[2]

Generally used colloquially in Sweden and the rest of the Nordic countries as a sociological term to describe a condescending attitude towards individuality and success, the term refers to a mentality that de-emphasises individual effort and places all emphasis on the collective, while discouraging those who stand out as achievers.[3]

The above is true in every respect. It's gotten better with higher degrees of globalization, but you do not want to showcase your success, or even use it as an example to give advice, except to VERY close friends. Chances are, people will take offense in the "You're  just trying to be better than me"-way.

Scandinavian psychology is that the more money you make, the more money you should pay back. To other people, to taxes, to society. It's one of the reasons i'm thinking of FIRE-ing in another country, though i do not know which one.

I'm not actually swede by birth btw, i'm german.  I've lived here since i was 4 though.


Sweden is a very "special" country. My ex, who was from Seattle, hated how antisocial and weird certain aspects of our society are. When she described them to me, i could actually understand her really, really well.

But on the other hand, we have free education, healthcare, excellent public transportation and some of the best tax climates in the world (for dividend investment).

Where would i live if i could, and have everything work out, including taxes and the like? Probably Colorado or Texas, honestly.
« Last Edit: March 08, 2017, 08:52:38 AM by SwedishMoustache »

bunchbikes

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Re: Want to Retire Faster? Don't Invest. Start a Business Instead.
« Reply #102 on: March 08, 2017, 09:29:03 AM »
Swedish: Jantelagen, IPA: [ˈjantɛˌlɑːɡɛn]) is the description of a pattern of group behaviour towards individuals within Scandinavian communities that negatively portrays and criticises individual success and achievement as unworthy and inappropriate.

Yeah, Jantelagen is the word my friend used, I just couldn't remember what it was. Thanks for providing the interesting context behind it.


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Scandinavian psychology is that the more money you make, the more money you should pay back. To other people, to taxes, to society. It's one of the reasons i'm thinking of FIRE-ing in another country, though i do not know which one.

Yeah, that's interesting. It makes sense, being a socialist country.


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But on the other hand, we have free education, healthcare, excellent public transportation and some of the best tax climates in the world (for dividend investment).

My family lived in Malmo for 2 months last summer... we loved it.  Cycling everywhere was nice, tons of parks/playgrounds, seemed very family-friendly.

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Where would i live if i could, and have everything work out, including taxes and the like? Probably Colorado or Texas, honestly.

I live in Texas, I like it... just not the summer heat, haha.  We have no state income tax, but property tax is higher than other states.

BAMxi

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Re: Want to Retire Faster? Don't Invest. Start a Business Instead.
« Reply #103 on: March 27, 2017, 11:25:19 AM »
OP, the business you're describing is a similar structure to one I've thought about getting into many times. It definitely has great potential and I think I'd like setting it up and watching it grow quite a lot. I understand you not wanting to give out specifics of your own operation, but curious how you settled on whatever you settled on or selected it? was it an item you had dealt a lot with in the past or just saw an opportunity to market something that others were not capitalizing on?

bunchbikes

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Re: Want to Retire Faster? Don't Invest. Start a Business Instead.
« Reply #104 on: March 27, 2017, 12:23:38 PM »
but curious how you settled on whatever you settled on or selected it? was it an item you had dealt a lot with in the past or just saw an opportunity to market something that others were not capitalizing on?

1. Lots of demand, not a lot of competition
2. Low production leadtimes and simple logistics.
3. Margin isn't as high as I would like it to be, but it's decent, and the volume makes up for it.
4. Fast turnaround and cash flow.

After spending 40-50 hours looking at hundreds of potential products, I just *knew* when I found this niche that it was the right one. It checked nearly all of my boxes.

I had no previous experience with these products, however, there wasn't much required technical insider knowledge required.