Lack Of Capital Advice :l

[ButlerMr Gleeson]

Hi

I am really confused and would appreicate advice on this situation

sigh, well...I am not sure here excactly if im going about about getting thr capital in the right way. fifst off I am 19 and I kinda regret not saving when I was 17 when I had A LOT of income! I didnt know the benifit of investing and the concenquences of not saving and now I feel like it's too late, I wasted two years...since then I have had 2 ordinary jobs which I left as they were unfullfilling but  NOW, I feel like I have to go back in to the 9-5 ordinary job scene as I have no money and NO way at tall now to save for the future...

It hurts to see people like coaches and business/organization owners being so financially independent when I gotta find a 5 days a week hospitality or retail job that will numb out and not appreciate my beautifully high spirited soul for what its potential is..

I guess a 9-5 job for a couple of years to create capital (savings) is all I can do right now though huh? and then I  guess I can start  a business...It hurts again that a lot of others like coaches/self employed people  ect know what they really want and I dont, I keep dabbling, I wasted my free college education years (16 - 18) now I am 19, I got bills becausue I live alone, and wasted opportunities that I had 10000's of at 17..

what should I consider?  a 9-5 job will numb down the potential I already have at 19, I dont want it to kill a part of me but is it my only option in this situation

oh man! would really appreciate help, thansk guys!

Edited April 27, 2016 by ButlerMr Gleeson

[SMI]

My advice may not be relevant or useful but since you are only 19, here it is.
If one is 25 he/she should have the patience of someone twice his or her age so in this case patience of a 50 years old guy. If you are 50 you should have the patience of a  100 year old. That's my view. Most of the society now a days is about the quick hits. But mastery requires patience and ofcourse dedication also.

[ButlerMr Gleeson]

Thank you Murtaza...is a 9-5 retail job the only way to gain capital (savings) ..It kills you inside but if it is what it takes? :I just really at a lost point now...thanks though, appreciate advice

[Saarah]

@ButlerMr Gleeson Hey I'd just like to ask what is it you're trying to invest in, is it anything like a personal or online business?

If so, while you're doing your jobs and saving capital think of that time as an opportunity to start doing your research and learning about how to be successful in your area so by the time you've saved up a lot of money you know exactly where to go

[step1]

On ‎27‎/‎04‎/‎2016 at 7:09 PM, ButlerMr Gleeson said:

Thank you Murtaza...is a 9-5 retail job the only way to gain capital (savings) ..It kills you inside but if it is what it takes? :I just really at a lost point now...thanks though, appreciate advice

Hey man.  Do you know how many 19 year olds I know that are thinking about putting money away for their future/investments?  ZERO.  You are ahead of the game my friend, don't worry about not saving money the last 2 years, I spent my whole 20's pissing money up the wall and I have zero to show for it. I deeply regret this.  I've had fairly good jobs, and even my own business, but I have absolutely nothing to show for it.  I'm only just starting to invest in my future at 31.  I am late but it could be much worse.

You don't have to work retail - you could work outdoors, on a construction site, farm work, in an office, delivery driver, removals, the list is endless.  Find something that suits you.  Start saving, and use the time it takes to save to start researching where and how to invest your money. 

[Birdman]

Hello Butler Mr Gleeson,

To answer your question: No, a 9-5 is not your only option for income.  There are many other ways to make income.  Here is what you need to do, my friend:

1. Find your budget
   1. Write down a list of all of your monthly expenses, starting with the largest and working your way down.  
   2. Add up the total: This is your bare minimum budget that you need to get by.  Everything beyond this figure is for you to decide on where to spend it (savings, out to dinner, new laptop, etc.)
2. Find out what it is that you like to do.
   1. Write down the top 100 things you like to do.  Make sure you get ALL 100 down!
   2. Play "I- Spy" in your own life:  Imagine you are a detective trying to figure out what a person's interests are.  Look at their apartment.  Write down all of the things that you see that relate to what they enjoy in life (types of books, internet articles, sports, pictures on the wall).  Sometimes what people really want in life is already subliminally being created around them.  If someone has a bunch of surfing pictures up in their apartment and they live in the mountains, maybe they actually want to live near the beach!  Write down 100 I-Spy items in your own life.  Make sure you do all 100!
3. Explore different options for part time employment that are available to you.
   1. Start with the basics
      1. Drive for Uber, Lyft, or Sidecar (if you have a 2005 or newer vehicle)
      2. Do deliveries on PostMates (if you have any car, or even a bike)
      3. Pick up shifts at a restaurant (Do you have hospitality experience?  Start as a busser, try and get a few shifts as a server so you can start making tips.  Do other things on the side to generate more income.)
   2. Look for other part-time work that is in line with your general interests.  Look at your lists from your 100 things you like and I-Spy.  Is there any job or company that would incorporate some of those interests into your daily work?  Spend some time on this and be patient- you have plenty of time to explore.
   3. Look into starting your own business on the side.
      1. This is something that you should do while you are already working.  Don't just quit your day job to start your own business because it usually requires a little time in order for any business to start getting clients and making money.
      2. Here are some examples of SERVICE BUSINESSES that you can start alongside almost any current job (note that service businesses are much easier to start than production and/or sales businesses because they don't require manufacturing costs or inventory costs to start)
         1. Start a dog-walking and house-sitting business (Do other locals know you?  Would they recommend you to a friend?  Take care of their house and pets while they are away.)  Work out a fee structure and off you go!
         2. Know computers?  Reach out to people in your neighborhood to see if they would like for you to refurbish their groggy old computers?  You can charge $50 per hour or $100 per computer.
         3. Obtain certification for something you would like to do, then start your own practice.  Go to massage school, become a Notary Public, or learn full-stack web development.  After you obtain certification, offer your service to a couple of friends for free and get feedback on how it was.  After you get some experience, you will feel much more confident speaking to potential clients about your services and fees.
         4. What other skills do you have?  Which of the things listed on your 100 Lists would someone else pay for?  All you have to do is market yourself to potential customers.  

Murtaza is absolutely 100% correct too.  Take your time.  The clock is not ticking here.  This is not a timed test.  Just because your friends may already have their whole life planned out already doesn't mean you have to.  What is most important is that you are ready to start doing whatever it is you would like to start doing, if anything right now.  Take a month, a year, five years, ten, twenty, fifty.  Don't do anything if you don't really want to.  You're miles ahead of the game and your peers just by taking the time to sit back and put some thought into the general direction you would like to explore at this point in your life.  You don't need to grow up quickly and don't believe anyone who pressures you into being "more mature".  I hope this helps. 

- Andrew