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Old 09-19-2019, 11:57 AM
 
117 posts, read 104,139 times
Reputation: 115

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Quote:
Originally Posted by saintmj nyc View Post
Have you ever thought about investing in dividend paying stocks ?
There's some great ones out there .

No work , just checks every quarter.

IMHO I like Con Ed, Exxon and Apple .
Good luck
I have. Con Ed yields 3% at present, which would require $6m principal investment to generate $200k in cash flow. This is what I need to generate to finance my desired lifestyle in the 45-60 yo time frame. If I have $6m laying around by the time I am 45, I will do just that and go skiing. But as I have learned with age, life doesn't always turn out the way we want it to. So I am not counting on having that 6m.
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Old 09-19-2019, 11:58 AM
 
40 posts, read 15,785 times
Reputation: 175
You can't (ok shouldn't) start a business at your age. Lots of headaches, and you have to deal with lots of attitudes from min wage workers.

You should be collecting dividends as passive income.
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Old 09-19-2019, 12:05 PM
Status: "Hard work is never easy" (set 11 days ago)
 
Location: Florida/Tennessee
3,253 posts, read 4,476,452 times
Reputation: 1875
Quote:
Originally Posted by frankrj View Post
I like the storage business. Obviously best if in or near a semi-densely populated area. Little maintenance unless you have 2 or 3 floors then you have to pay for elevator upkeep. How much is commercial insurance for that type of business?
States that have lots of population mobility.
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Old 09-19-2019, 12:25 PM
 
117 posts, read 104,139 times
Reputation: 115
Quote:
Originally Posted by joepierson View Post
You can't (ok shouldn't) start a business at your age. Lots of headaches, and you have to deal with lots of attitudes from min wage workers.

You should be collecting dividends as passive income.
At 45? (and to be clear I am still in my 30-ies now). Why not? I imagine I would still like to have something productive to do for at least 10-15 more years at that time. I am just getting sick and tired of the treadmill that is my corporate job and the hellscape that is NYC. I ski a lot and in my chairlift conversations with locals the common theme I have picked up is that they all had careers and jobs elsewhere, cashed out, moved out west and bought or got involved in some kind of business which allows them enough income and flexibility. That's what I would like to do. I think it would be good to be involved in the economic life in the area where I will live.
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Old 09-19-2019, 12:35 PM
 
Location: DFW
822 posts, read 238,157 times
Reputation: 1371
Quote:
Originally Posted by frankrj View Post
I like the storage business. Obviously best if in or near a semi-densely populated area. Little maintenance unless you have 2 or 3 floors then you have to pay for elevator upkeep. How much is commercial insurance for that type of business?
I'm an underwriter and have a lot of these in my book. I'd have to know an address and zip code, as property rates would be anything from .60 to 2.00 per sf. Liability would again depend on zip code (how litigious an area is, crime rate, etc) and depends on square footage. Ballpark/median - $4000/yr for the package
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Old 09-19-2019, 12:46 PM
 
6,637 posts, read 5,286,766 times
Reputation: 13753
Quote:
Originally Posted by Dave_n_Tenn View Post
Just for reference in a small town in TN. It has a car wash with RV or truck bay, attached to a laundromat, attached to Ace Hardware, attached to a coffee shop with truck rentals and equipment rentals. Rents space for local farmers and has a spot for a food truck. The place is a God send for the town.

A single manger who runs (and hires) the whole thing, and I swear that place is always packed.
Add a pet washing station
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Old 09-19-2019, 12:57 PM
 
Location: Castle Rock, CO
223 posts, read 151,230 times
Reputation: 461
Quote:
Originally Posted by urbandweller13 View Post
Something that would not consume more than 2-3 days a week worth of attention at run-rate and would generate stable, non-cyclical cash flows for at least 15-20 years.
Wait - why are you trying to get out of the corporate world for that? Just find a middle management job at a F50 and lay low. Plus you'll get health benefits.
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Old 09-19-2019, 01:36 PM
 
117 posts, read 104,139 times
Reputation: 115
Quote:
Originally Posted by ponyupgrl View Post
Wait - why are you trying to get out of the corporate world for that? Just find a middle management job at a F50 and lay low. Plus you'll get health benefits.
Hard pass on that. Right now i run my own group, have my own office, write my own schedule, fly first class and have unlimited PTO (but also: work 100 hrs a week, deal with excruciating performance metrics and aggressive competition so its not a resort here). If I am going to downshift/retire, that is definitely not going to be to a 9-5 cubicle drone position with a 2 weeks vacation and a Bill Lumbergh for a manager, no thank you It's just that getting here and life in general has taken a good chunk out of me and i estimate I can only do it for 10 more years before I become either suicidal or washed up. So I've been seriously planning ahead.
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Old 09-19-2019, 04:27 PM
 
6,559 posts, read 4,917,907 times
Reputation: 13714
Quote:
Originally Posted by urbandweller13 View Post
I have. Con Ed yields 3% at present, which would require $6m principal investment to generate $200k in cash flow. This is what I need to generate to finance my desired lifestyle in the 45-60 yo time frame. If I have $6m laying around by the time I am 45, I will do just that and go skiing. But as I have learned with age, life doesn't always turn out the way we want it to. So I am not counting on having that 6m.
This tells the story. The very first thing you should do NOW is learn how to invest.
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Old 09-19-2019, 04:39 PM
 
Location: annandale, va & slidell, la
7,828 posts, read 3,196,606 times
Reputation: 6681
Thought of doing something for a little side-cash, but I can't fathom needing to be anywhere at a particular time, and having to do what someone tells me to do!

Maybe hanging flat screens and ceiling fans for old ladies! Then go fishing.
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