[Mr.SugarSkulls]

Originally Posted by NemesisX

And at the age of 26 no less. I'm not gonna lie I'm mad jealous (read: impressed) with what you've accomplished at your age SugarSkulls. $300k/year in passive (rental) income at that age is almost unheard of.

I'm only a few years younger than you are, but I don't even have $300k (forget actively making it ) I did alright working three internships in oil and gas when I was a ChemE undergrad and I've done OK with a couple of bets in the stock market using that internship money (while my parents also supported me financially) so far, but if there was a semi-guaranteed way for me to hit $300k/year in my mid 20s I'd strongly be second guessing my choice to go to medical school right now haha.

The key to this is multiple streams of income.

Plus- the music/movie industry especially once represented by contract must pay as much as your last contract (unless it's pro bono work) especially since my stage name is trademarked as well as under multiple contracts.

I am a college drop out however, because I chose income over respect. I can't tell you how many times friends parents laugh at me when they hear I'm a "musician" for a living, only to find out I'm not just that. After I ended up being homeless due to my dad/mom embezzling money from the state when I was 17- I feel like the adversity of sleeping in my car for 6 months and showering at the gym helped formulate to never settle to just one stream of work.

Throughout the years I met a few individuals who found me charming enough to invest with them who own a nonbank financial group in Mexico as well as accredited hedge fund investors, so they helped out a lot growing my assets worth so I could be invited into the group.

Im also not one who believes in a 9-5, or putting a set dollar worth to my name. I don't say no to good opportunities, despite wanting to go out and drink, take a vacation with friends- because of everything I've been through. I have a set mentality that people can't take away what's yours when you buy it, no loans, no debt.
The problem I have with most colleges- is that it inundates most people into some serious debt- so people slave away for years trying to simply start at a level ground, but college doesn't offer courses in regards to high risk investments etc- it's almost like churning out degrees is a business.

I can't tell you how hard it was for me not to jump into a nice car when I first started netting a safe amount of cash. I told myself though that once I exceed a certain amount, then I can get a new car. But only until it won't affect my daily life, my mom or grandmas- because I want to fully enjoy the car, not worry about payments and such. (That's why I did a complete individual build m6 for my new car- which is the first brand new car I'll ever own thus far)

You seem like a really smart guy, so my advice would simply be don't limit yourself to just one job. We're young, don't buy the bullshit others are saying that now is the time to party/have fun- because all those people aren't fiscally responsible to handle serious money (which handling anything 250K in my opinion requires just that- responsibility) take advantage of your youth- and grind as hard as you can now.

Your circle grows very small- which is why I don't hang out with many. Everyone forms an opinion, and suddenly feel entitled to YOUR money- and when you don't share it, all of a sudden you're a dick.

I got a lot of help to get to where I'm at- so that's the other advice id give. Don't ever be too proud to take help if it will help you and your loved ones. The best feeling I've ever felt wasn't seeing my accounts grow- or ordering an m6, or working with this artist or that one- but giving my mom and grandma the keys to their home.

I tell you, once you feel true helplessness- you'll do anything to make them happy. I still remember the look in their eyes after my dad and grandpa passed away a few years ago...and to this day- it still kills me. Hence- why I don't ever let off the pedal when it comes to generating income- cause if I can make their lives any easier- I will.

Phew, rant done. Lol.