Daylen's Adventure

Where are you and where are you going?
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daylen
Posts: 245
Joined: Wed Dec 16, 2015 4:17 am
Location: Lawrence, KS

Daylen's Adventure

Post by daylen » Fri Aug 05, 2016 12:21 pm

Time to start my journal! I won't be making much money until I graduate in the spring, but I figured I would share my preparation and give a little prologue for my ERE adventure. :D

Currently I am an undergrad in math (mostly applied) going into my senior year. I did not do very good in high school and was not able to get any financial help out of the gate, but I have done decent enough in college to have my final year paid for with scholarships. Here is a quick run down of my bland financial situation. No rent since I live with my mom.

Assets
-12k college loans
50 cash
2k left over scholarship money I will recieve in a week or so..

Expences
less than 30/week for food (never actually kept track)
less than 5/week average for other stuff

I am naturally frugal since my hobbies tend to be abstract and intangible. The main of which are reading, writing, and thinking. I have a very wide range of interst and tend to be happy with uncertainty, variety, and adventure. Oh ya, by the way, I am prettty sure that I am an eNTP; I thought I was an INTP for the longest time..

Next I will do a scenario analysis since I change my mind every 5 min about what I want to do in my ERE pursuit. Though I am fairly certain that I do not want to go to graduate school at this point (I considered it off and on for several years).

Scenario analysis

jobs
- Actuary (I will try to pass the first 2 exams this year)
- Data analyst (I wanted to be a data scienctist for a while, but it would have required at least a couple years of tranning.)
- OR analyst (maybeeee)
- other analyst (backup)
- odd jobs (backup backup)
- scam artist (probably not, though my dark side always thought it would be easy money :twisted: )
- homeless and dumpster diving (backup 4)

living
- vandwelling (cargo or mini) (this is my favv choice)
- full time backpacking (homeless)
- cheap appt. shared
- cheap appt.
- house (wayyyyyyyyyyyyyy down the road)

Either way, I am shooting for <5k/year expences and a savings of 200k-400k before am I 30 (21 now).

I don't know when I will post here again, but thanks for reading!

rfgh
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Joined: Sun Mar 20, 2016 2:00 pm

Re: Daylen's Adventure

Post by rfgh » Fri Aug 05, 2016 2:06 pm

I like the idea of vandwelling or backpacking. But is staying with your mom an option?

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daylen
Posts: 245
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Location: Lawrence, KS

Re: Daylen's Adventure

Post by daylen » Fri Aug 05, 2016 2:35 pm

The problem with staying with my mom after graduation is that there are not many job opportunities for the stuff I want to do where she lives. Most analyst positions are located in big cities. Though Kansas City is about 45 min away from here.

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daylen
Posts: 245
Joined: Wed Dec 16, 2015 4:17 am
Location: Lawrence, KS

Re: Daylen's Adventure

Post by daylen » Mon Nov 21, 2016 3:18 pm

Time for an update on my current mindset. I have no money yet...but I do have an updated theory on making money. :D

A little about my personality.. I get bored very quickly. I hate structure, planning, and details. About half way through my math degree, I realized that succeeding in math classes requires more attention to detail than actually understanding concepts. I have basically taught myself everything and only spend a couple hours a week actually doing school stuff. About the only thing I am going to get out of my degree is time; time to avoid the real world and philosophize about everything. Not a bad trade considering that about every month or so the past four years I completely rewired my brain to see the world in a whole new way. In about a month I will look back at this post and the train of thought that I reflect on here will be mostly obsolete (<- this is probably the most important thing that I have learned to accept about myself).

I think I want to be self employed. Starting a bunch of micro-businesses actually sounds like it might keep me interested, especially since over time my income streams should transition from active to passive. Here are some options.. from active to passive..

- math/science tutoring
- compture software repair/tutoring
- writing (non-fiction, science fiction) (starting with blogs to tighten feedback loop, gradually move towards books)
- renting out property
- investing

By no means comprehensive, I'm an opportunist. If a good long/short con ever presents itself, I will be ready!

I do not really have a plan to retire in x years. My thinking has transitioned instead to gradually moving towards passive income streams (dividends, interest, ad revenue, royalties, etc). Though I think I would still like to write into my later years. Getting people to think is something that I enjoy and writing allows me to do that. After all this is really the philosophy disscused in the ere book; the "retire in 5 years" slogan is more to get people interested.The entrepreneurial skills gained over time will make my overall financial state more robust in the face of uncertainty. At any point in the future I could employ these skills, unlike a more specialized skill set that becomes obsolete over time. To me, this is one of the most important ideas from the ere book, yet I have observed that this idea seems to be neglected from time to time on the forum.
Last edited by daylen on Sat Nov 26, 2016 12:08 pm, edited 1 time in total.

7Wannabe5
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Re: Daylen's Adventure

Post by 7Wannabe5 » Mon Nov 21, 2016 4:34 pm

eNTPs Rule!!! Okay, not really. We only lead when following or being alone gets too boring.

Unfortunately, I can't offer you any advice, because any advice I offered to you, I would have to follow myself unless I resorted to the sort of weak excuses offered by sexism or age-ism. Good luck!!!

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daylen
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Location: Lawrence, KS

Re: Daylen's Adventure

Post by daylen » Mon Nov 21, 2016 6:46 pm

7Wannabe5 wrote:I can't offer you any advice, because any advice I offered to you, I would have to follow myself
Sounds like a fallacy to me :P . I would appreciate any advice you could give a fellow eNTP!

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daylen
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Location: Lawrence, KS

Re: Daylen's Adventure

Post by daylen » Wed Apr 19, 2017 4:34 pm

Alright, so here is an update.

I have a burning desire deep inside me to be self employed. I really do not want to work for other people on a continuous, full time basis. Until now I didn't realize that the access economy (think uber) was becoming so popular! So instead of working a typical job I want to string together temporary, seasonal, and freelance jobs.

Yes, I know this might not be an efficient use of time when it comes to gaining economic capital, but there are other types of capital.. namely social capital that would explode by doing temporary local jobs. I plan to stay near Lawrence, so the social capital will persevere. After a few years I would like to buy some land north of Lawrence where it is cheap and has minimal zoning laws to start a permaculture orchard. I went to an organic nut orchard the other day near Lawrence and talked extensively with the owner. Turns out there is a significant market here for organic produce (especially chestnuts). Hence, eventually I would like to transition into a small time organic farmer.

I realize this isn't really ERE, but the point is that I don't mind doing a small amount of physical farm work everyday since I think of it as a daily workout. Plus I would own the business, and I could outsource some of the work if I ever became lazy.

Back to self employment: I figure that my income would come from math tutoring, computer help (I already do this), summer landscape work, seasonal harvesting on nearby permaculture farms (I already have some connections), and potentially services such as uber. Only issue with uber is that I need to get a car, but I do plan to get a used minivan eventually anyway. There is also another on-demand gig where you can help people move that I want to try.

By staying here in Lawrence I can stay with my mom and split rent (about $300 each). Also I am under 26, so my dad is paying health care. I have just about everything I need, so I figure I can live off 5k a year until I get a minivan. The first thing I want to do is pay off my student loans (about 15k). Then I want to build up a buffer and buy some land which is about 10-20k for 5 acres (that is all I need).

Jason
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Joined: Mon Jan 30, 2017 8:37 am

Re: Daylen's Adventure

Post by Jason » Wed Apr 19, 2017 8:04 pm

My wife has a co-worker who's daughter is taking the actuarial exams. Her daughter has a PHD in the hard sciences and has failed her first attempt. I think its a multi-year process and the chances of passing are less than a 93 year old alcoholic, who chain smokes through their tracheotomy hole, receiving an unsolicited offer for life insurance.

Good luck in whichever direction you choose.

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