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It seems that you have done alright. I would lean toward doing what you have been doing. One reason you (I mean anyone) would get an MBA is to help you get through the HR screening process at a company you want to work for. A second reason is to pick up basic skills in your filed. A third would be to show that you can accomplish tasks that take a brain. I think the MBA is window dressing in your case and I would pursue my work objectives. If you have time and really want the MBA I would get one at night or look for a weekend program. But the MBA would be because you want to get one and not that you need it to be successful. Now an exception. If you want to go into education getting a Phd would be a good idea.
Why the MBA? - I think it would only slow you down. Are you looking to join corporate America at some point? You seem to be doing just fine on your own, I would focus on coming up with more business ideas.
Remember that many of the top tech entrepreneurs dropped out of college.
What's your overall goal? That's the first and most important question. If your goal is to go to a job at an office the rest of your life, then heading down the path you're starting might be just fine if you continue to save at a high rate.
You sound competent. Any entrepreneurial venture incurs a significant amount of risk. What is your risk tolerance? It sounds like you're afraid of losing everything you've built, which is a very legit fear if you're going to continue down the venture path.
My take if your goal is to create a comfortable lifestyle for yourself - read the book, Rich Dad, Poor Dad, and read as much as you can on Real Estate Investing and join a website like Bigger Pockets. There are risks with that, just as there are in the stock market, but with a very solid education and a strong network of people you can confide in, you can create serious income. The risk comes when you don't take the time to learn the details, much like in the stock market. Many investors still work their full-time job in the first 5-10 years just to supplement their income but once you reach the point where your cash flow exceeds your monthly personal expenses, you don't HAVE to work at a job anymore if you don't want to.
Most born entrepreneurs never want to have to work for anyone else ever again.
So the person who asked about your goals is spot-on. Are you working for the money or for the satisfaction of building something you may be able to sell someday?
Are you planning to retire early?
I ask these questions because your OP seems a little vague. You're off to a great start, though, no matter what path you choose.
Location: Formerly Pleasanton Ca, now in Marietta Ga
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Quote:
Originally Posted by Rocko20
Thanks for the humblebrag?
What is the topic to be discussed again?
It must be killing you all these people that appear to be bragging are doing better than you.
You could just ignore this thread as discussed on other threads, but no, you choose to let it offend you instead and make the effort to let everyone know.
Always leave it to either jealous, bored, or annoying Internet posters to assume everyone is bragging about everything. It’s almost like you’re required to be poor to make a post anywhere because god forbid someone have a dime more than you. My god.
I start my first job, outside of entrepreneurship, Monday. A little on me is that I have a degree in computer engineering, started a couple tech business raising around 165k worth in capital, and I taught myself how to trade stocks (I turn 10K into 34k over the course of a year). At this job Ill be making $52 an hour. I recognize that is a nice salary for anyone but it is just a 4 month contract for now (might extend to 18 months). I’m being brought in to oversee the development and come up with product features for 2 phone apps for the armed forces (Army, Navy, or Air Force). I say these thing in hopes you will believe I am some what competent but I am also only 24 so there is plenty for me to learn. My plan is to get my mba at a school like Emory but I need to save up. Currently I have 70k saved. Should I invest/bet on myself by starting another business or should I go slow and steady by working at companies (if I can find jobs)? What looks better for mba school? I am also open to any other financial advice (how much should I save).
If you happen to look at a post I made years ago, it turns out I didn’t have as much money as planned on. If not ignore this lol
P.S. I don’t have any loans, my car is also paid off, my main thing expense is rent. My expenses total to about 2k a month
Thanks for reading!
Taught yourself how to trade and tripled your money.....
forget the MBA (waste of time, everyone and his dog has one)
forget the $52 an hour and product apps....peanuts, boring....
It must be killing you all these people that appear to be bragging are doing better than you.
I’m semi-retired and live in Hawaii... It’s kind of hard to be doing better than me.
Thanks for your concern though.
Quote:
Originally Posted by aslowdodge
You could just ignore this thread as discussed on other threads, but no, you choose to let it offend you instead and make the effort to let everyone know.
Why would I ignore the thread? I asked a legit question: what was the topic to be discussed?
Should we all make threads about our personal finances with nothing to be discussed as well? I’d love to make a thread about being an educated 28 year old black man from poverty in Texas who now drives a corvette, owns a home, and lives in Hawaii forever but I would surely frame it around some question or suggestion to be discussed for CD posters.
I’m semi-retired and live in Hawaii... It’s kind of hard to be doing better than me.
Thanks for your concern though.
Why would I ignore the thread? I asked a legit question: what was the topic to be discussed?
Should we all make threads about our personal finances with nothing to be discussed as well? I’d love to make a thread about being an educated 28 year old black man from poverty in Texas who now drives a corvette, owns a home, and lives in Hawaii forever but I would surely frame it around some question or suggestion to be discussed for CD posters.
Congrats, OP, sounds like you're on the right path. I've been following an interesting blog that might interest you: www.themoneyhabit.org
If you can turn 10K into 34K, maybe you start your own blog teaching the rest of us how to do that? And, yeah, I have about $100 -- what kind of ROI can you give me with that little? LOL
#24Poor
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