This is an interesting discussion. One thing I learned about myself from a young age is that I am very untalented and will not do well in competition. Having said that the only business that I can do independently is real estate. I even made a post about this many months ago when talking to someone about rent control. I made the point that for an ungifted person which sadly is most of us and most certainly me real estate investing is probably the only viable option to have a side income that you own and control. You hear things like only 5% of businesses survive 5 years, this is always a red flag that the talent component is going to be necessary more so than desire and hard work and you cant teach talent.
I'm about the same age as you and probably in a similar situation. I have been self-employed with a DBA for about 25 years and had managed to keep my head above water but not much more. I became dependent on one big client and they downsized a couple of years ago and all my income was gone. Had they waited another couple of years I would have been modestly OK with no great needs. Instead, I'm scrambling.
UA-cam is a business & obviously you’re a good storyteller, so now you’re in the entertainment sector. Adjust your camera positions & pick up professional editing software. All that we can ever do confidently, is invest in ourselves.
Yes thanks! I was actually thinking the camera angle has been BAD .. even worse in the video I posted today. Will be waiting on the upgrade for editing software until I get some more vids made. What's your preference on those?
Investing seemed to be the better way to go for me too, frugal living is the best, never living above your means. That's all I've got Phil, I'm sicker than a dog with a cold lol
Frugal living is an understatement when you're a school teacher and making 30 to 40 K after 15 years. If only I had been able to hold onto my investments long-term, it would've been OK. Hope you're feeling better. I think we've all gotten this cold. Mine hit Christmas Day.
@@whatsupboomer1958 That's a crazy wage for anyone to live on, but teachers, especially after 15 yrs? Thanks I had to come up with a voiceless video for this week, my Dude is sick too and last night we were comparing our Barry White voices lol Being sick Christmas day for you while away visiting family is tough! Look forward to your next video!
also did you know about amazon when it went public? looking back it seems like a no brainer but at the time, did you think it could come close to what it is now?
@@goodmanbare3658 🤣 yeah I should get an updated one like a new one since they won the national championship. And by the way, if you recall in the video I made a bet that if they won everyone that watches this video must subscribe to the channel! ✅
This is such a DUMB view of “what I should’ve done instead”. What if…what if… you would’ve invested into one of the few hundred other IPO’s that came out that year and went NOWHERE?! What in earth makes you think that at that time when you started your business for $35k, that you would’ve have known that Amazon would’ve been the right IPO to throw your money into?! For example…Amazon was losing money for about a DECADE! Only people with the ability to lose their entire investment would’ve invested in Amazon. So here, do it again. Find a random IPO today and toss 80% of your live savings. Let it ride. Good luck.
@ @ I wouldn’t have gotten to your Amazon comparison if I hadn’t watched your whole video. Since it was nearly 3/4 of the way into the video. Talking about your mistakes as a business owner expecting more from yourself than you’re capable of (which is absolutely fine, not a jab) is a good reason for why starting a business was a bad idea. But “I should’ve done this instead” ignores the simple fact that there was no way in hell that you would’ve invested your limited money in Amazon at that point in time without being able to see the future. You had investment money, not gambling money. So your “alternative” would never have been an alternative anyway, without a Time Machine.
This is an interesting discussion. One thing I learned about myself from a young age is that I am very untalented and will not do well in competition. Having said that the only business that I can do independently is real estate. I even made a post about this many months ago when talking to someone about rent control. I made the point that for an ungifted person which sadly is most of us and most certainly me real estate investing is probably the only viable option to have a side income that you own and control. You hear things like only 5% of businesses survive 5 years, this is always a red flag that the talent component is going to be necessary more so than desire and hard work and you cant teach talent.
I'm about the same age as you and probably in a similar situation. I have been self-employed with a DBA for about 25 years and had managed to keep my head above water but not much more. I became dependent on one big client and they downsized a couple of years ago and all my income was gone. Had they waited another couple of years I would have been modestly OK with no great needs. Instead, I'm scrambling.
All the best. Gotta take a shot in life I guess. Hope life's going good for you right now.
UA-cam is a business & obviously you’re a good storyteller, so now you’re in the entertainment sector. Adjust your camera positions & pick up professional editing software. All that we can ever do confidently, is invest in ourselves.
Yes thanks! I was actually thinking the camera angle has been BAD .. even worse in the video I posted today. Will be waiting on the upgrade for editing software until I get some more vids made. What's your preference on those?
Investing seemed to be the better way to go for me too, frugal living is the best, never living above your means. That's all I've got Phil, I'm sicker than a dog with a cold lol
Frugal living is an understatement when you're a school teacher and making 30 to 40 K after 15 years. If only I had been able to hold onto my investments long-term, it would've been OK. Hope you're feeling better. I think we've all gotten this cold. Mine hit Christmas Day.
@@whatsupboomer1958 That's a crazy wage for anyone to live on, but teachers, especially after 15 yrs? Thanks I had to come up with a voiceless video for this week, my Dude is sick too and last night we were comparing our Barry White voices lol Being sick Christmas day for you while away visiting family is tough! Look forward to your next video!
Nice shirt, Pop Pop 😂
If possible do you think starting a business small scale while still hilding a job is a good way to go ?
Absolutely ... 👍🏻
love the vid hate the shirt
also did you know about amazon when it went public? looking back it seems like a no brainer but at the time, did you think it could come close to what it is now?
@@goodmanbare3658 🤣 yeah I should get an updated one like a new one since they won the national championship. And by the way, if you recall in the video I made a bet that if they won everyone that watches this video must subscribe to the channel! ✅
@@goodmanbare3658 never in a million years would I have thought that book selling company would've become what it has become
This is such a DUMB view of “what I should’ve done instead”. What if…what if… you would’ve invested into one of the few hundred other IPO’s that came out that year and went NOWHERE?! What in earth makes you think that at that time when you started your business for $35k, that you would’ve have known that Amazon would’ve been the right IPO to throw your money into?! For example…Amazon was losing money for about a DECADE! Only people with the ability to lose their entire investment would’ve invested in Amazon.
So here, do it again. Find a random IPO today and toss 80% of your live savings. Let it ride. Good luck.
Apparently you missed my point or you didn't watch the whole video. 👍🏻
@ @ I wouldn’t have gotten to your Amazon comparison if I hadn’t watched your whole video. Since it was nearly 3/4 of the way into the video. Talking about your mistakes as a business owner expecting more from yourself than you’re capable of (which is absolutely fine, not a jab) is a good reason for why starting a business was a bad idea. But “I should’ve done this instead” ignores the simple fact that there was no way in hell that you would’ve invested your limited money in Amazon at that point in time without being able to see the future. You had investment money, not gambling money. So your “alternative” would never have been an alternative anyway, without a Time Machine.
@@DavidEColonpoint taken, David. And do appreciate you watching 🎉
I sure don't want to hack on the guy but I agree. I went broke three times before I got it right. etc. etc. etc.
I'd agree with that.