[ExI] Leveraging temporary income
kellycoinguy at gmail.com
Sat Oct 6 03:20:03 UTC 2012
On Wed, Oct 3, 2012 at 3:49 PM, David Lubkin <lubkin at unreasonable.com> wrote:
> Or narrow it down to an individual, since we're mostly individualists.
> You are given $1 million after taxes now, or when you are/were 25.
> What would you do with it to maximize its long-term benefit to you --
> Go to school? Invest it? Start a business? Relocate somewhere you
> can live off it indefinitely? Use $100K for survival training and
When I had that exact opportunity, I started what amounted to a home
based business proposition centered around assisting underprivileged
children. Unfortunately, that proposition failed long term, and now I
have nothing at all to show for it. I guess the point of sharing the
story is to point out that just because you were successful once does
not mean that similar success will befall you the second time. I
suppose the other take home lesson is "don't put all your eggs in one
basket", and also that choosing the right business partner is
absolutely critical to your long term success in business. The other
lesson is don't go into business when the government has any role in
determining your success or failure.
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