Millionaire Challenge

humptydumptybits

Good news and bad. The good news is I got my first state pension payment, hooray. Bad news is my new tenant is a nightmare, complaining about everything. I lost it today and told agent that she'd seen the house before she rented it and if she didn't like it she should have found something else. It is little stuff but this is the 4th complaint in 4 weeks. Honestly the house had brand new central heating, new carpet throughout and was completely redecorated.



I feel like saying we will waive the six month tenancy and she can find something else. I was tempted to sell but decided to let it and I wish I had gone with my first instincts.


I'm on edge waiting for some genetics test results so not in the mood for it at all.


The other bit of good news is a house a few doors down has just been sold and it has gone for £40k more than I thought mine was worth, it is smaller than mine but has a lovely bathroom and en suite and mine need redoing but still good news. Bit closer to the million!

Kayalana99

Gahhh when you write a whole post and it doesn't post...

Try this again...

It's been a while since I posted but been a bit rough at home, hopefully sorted out now but something that will just take time.

I'm struggling to really find 'what' I would like to do, I have loads of ideas but I feel a bit swamped. As soon as I get on top of the house, my degree suffers or I don't feel like I'm doing enough for kids (like extra activities) and soon as I catch up on the degree the house suffers etc....it just feels like a constant battle to stay on top of 'life' but I have come to the conclusion that when I'm 40, the kids will both be 18 and I'll still have time to make my fortune so for now, I'm just focusing on self education and looking for a career move for my next job role that will support that. I'm in a bit of a werid middle ground ATM where I'm over qualified for the easy jobs but under qualified for the career ones I want...but I'm pushing myself to close the gap and hoping someone will take a chance on me...

The long term aim is to build a decent income that will then fund my business ideas when I have a bit more time free. Don't get me wrong, I don't want to be 40 till I get started - but I'm not stressing over not doing anything right 'now' either.

Me and a guy from work have been discussing starting a business together, he is like me that he is interested in the big money and following all the millionaire/motivational stuff online but I was really struggling to find something that we would both be interested in so I asked him what else he could bring to the table skill wise (just to see if I could 'match' anything of our interests) and I realised pretty quickly that other then his personal training / fitness that I already knew about, he didn't really have a clue about the actual business side.

So I did the selfless thing and I've offered to help him build up a P.T business, as we both work evenings he has the day free to take clients on too so he doesn't even have to stop working. I've come up with idea of trying a 5k leaflet drop, and doing the design for him along with getting him a website up and running + got him a business name we've come up with together and a facebook page will be up shortly....any more ideas here feel free.

He only needs 20 clients a month (4 per day M-F, 1 seesion a week per customer) and some will want more then one session a week, and they will be a recurring customer. As I said to my Husband with my wedding photography, you had to find each client, and then they are obvouisly not going to come back to you again where as he literally just needs 20 people and he's got a 2k a month income+. Not saying it will be easy as pie, but it seems more then doable so going to give this a shot...we can only fail...and if nothing else for my sake, I've made a friend for life and built up some of my skills in meantime + a website project will be good for my CV!

Christoph2390

Kayalana99 wrote: »

Gahhh when you write a whole post and it doesn't post...

He only needs 20 clients a month (4 per day M-F, 1 seesion a week per customer) and some will want more then one session a week, and they will be a recurring customer. As I said to my Husband with my wedding photography, you had to find each client, and then they are obvouisly not going to come back to you again where as he literally just needs 20 people and he's got a 2k a month income+. Not saying it will be easy as pie, but it seems more then doable so going to give this a shot...we can only fail...and if nothing else for my sake, I've made a friend for life and built up some of my skills in meantime + a website project will be good for my CV!

What are you getting out of this? if you dont mind me asking. You mentioned the experience but is your intention to become a partner of the business? do you have this agreement in writing or are you going to do all this leg work building up his business for him to potentially give you nothing?

Kayalana99

Christoph2390 wrote: »

What are you getting out of this? if you dont mind me asking. You mentioned the experience but is your intention to become a partner of the business? do you have this agreement in writing or are you going to do all this leg work building up his business for him to potentially give you nothing?

Just sharing the love I guess. As above, I don't get anything out of it. I will be setting the business up for him but it's him that will run and maintain it at the end of the day. It does not make my contribution worthless, but what is a few hours between friends.

[Deleted User]

Kayalana99 wrote: »

Just sharing the love I guess. As above, I don't get anything out of it. I will be setting the business up for him but it's him that will run and maintain it at the end of the day. It does not make my contribution worthless, but what is a few hours between friends.

Totally agree, Kayalana:T. I'm a big believer in 'what goes around comes around':j. Good on yer:A.

Long time lurker on this thread and obviously not in the potential millionaire bracket given I'm still in debt and a pensioner:o. The get-up-and-go of lots of posters on here, yourself and lessonlearned to name but two is inspiring. Good luck to you all:beer:, although I realise that damned hard work is even more important than Lady Luck smiling on you. I do believe in Serendipity though and it's often the little unexpected opportunities or events in life that set us on a different and more profitable path.

lessonlearned

Hello everyone.....

Damn I just typed a post and lost it......so annoying. I think it's my iPad. I think I need some new tech.......


Kaya.......lots of ideas there, as usual. .I too think it's great that you are helping your friend. Good solid experience for you and of course the satisfaction of helping out, and yes, probably building up good karma too. :rotfl:

I also think it's a good idea to streamline Your workload. Spreading yourself too thin affects our productivity and always remember my mums old adage......"our children are not ours to keep, we only get to borrow them for a while).

Enjoy their childhood, the years will race by and they will be all grown up and independent before you know it. Long before they are 18 they will be ready to start exploring the world, wanting to spend more time with their friends. These busy years will be over in the blink of an eye and you will soon have more time for your own projects.

lessonlearned

Decided to play it safe and split my post......:D

Update for me.

Still awaiting legal completion, I have started packing and have boxes stacked everywhere. Not done much finance wise......because I don't want to upset the Apple cart and jeopardise my mortgage.

I have therefore been concentrating on getting fitter and healthier. I am halfway through a course of acupuncture. It's a bit rough with some weird side effects but it's definitely working. My knees are much better and my fibro is responding to treatment. I feel stronger and healthier than I have done for a long time.

Other than that, not much news. Enjoying my first grandchild, and just generally getting out and about. Going for a posh afternoon tea tomorrow.......won't help the diet. But hey, you only live once.

"life is short, take the trip, buy the shoes, eat the cake". :rotfl:

My Investments have done ok this month. I will need to make some changes later but as I want to avoid credit checks etc I will wait until I've moved before I start moving money around.

I aso need to think about some dental work......:eek:

I need a lot of work done and it's not going to be cheap. There goes the world cruise. Lol.

Fancy laying out good money to be tortured. :rotfl:

Christoph2390

Christoph2390 wrote: »

What are you getting out of this? if you dont mind me asking. You mentioned the experience but is your intention to become a partner of the business? do you have this agreement in writing or are you going to do all this leg work building up his business for him to potentially give you nothing?

Kayalana99 wrote: »

Just sharing the love I guess. As above, I don't get anything out of it. I will be setting the business up for him but it's him that will run and maintain it at the end of the day. It does not make my contribution worthless, but what is a few hours between friends.

Sorry, I think the Solicitor in me came out there haha. Please don't think I was belittling your contribution to helping your friend, I think it's great that you are helping out. Maybe you could go Business Angel full time

Kayalana99

Fingers crossed the house sale goes through for you easily, I heard once that the most stressful thing you'll ever go through is buying and selling a house.

I hope the fitness side goes well, I saw a post recently of someone in their 80's who was built like a 20 year old male down the gym! I kinda thought I was doing well with it, but I found an old photo from Oct 2017 of the scales and I've dropped 3 pounds...so in 9 months? Need to get back on it...at least I'm maintaining I guess.

think it's great that you are helping out. Maybe you could go Business Angel full time

I'm not sure if it will be my greatest weakness or strength but I tend to dip my finger in too many pies, I would love love to do this if I had the funds!! My Dad (wisely) keeps telling me to focus on something because otherwise I will never get anywhere fritting around...but you never know I might find a way to use it to my advantage or settle down eventually.

My self-improvement focus is helping though, I seem to have more discipline with myself and forcing myself to do things I would have put off before. I'm actually about 4-5 weeks ahead with my degree, I've got 2 questions left on my essay out of 8 to answer, and it doesn't start again till Oct. Going to use my spare time to focus on honing my skills I've learnt through my studies anyway. Really glad I changed from Business to Computing + Business as the Computing side is really blowing me away. I wish I had done a full Comp one now, but I can't say the Business side hasn't been useful either.

I've been listening to a few podcasts on 'millionaire' stuff and one thing that I picked up is they said don't set yourself impossible time framed goals, because they say if you say 'I want to lose 2 stone in 4 weeks' your setting yourself up for failure, but if you say I want to lose 2 stone in 6 months, and you do it slowly - most likely you will not only hit your goal, but in a lesser time frame. So I've set myself a realistic goal of being on a 30k wage in 3 years - not impossible in the computing industry by far, then I can use the excess income and spare time to build up side projects in theory.

If I do find a business idea in the mean time it may get pushed aside, but I think that being my main life goal for now is a great thing to work towards.

lessonlearned

Hello everyone......

Kaya - nice to read your update. Sounds like the course is going well. A £30k salary is definitely doable. I'm sure you'll crack it.

Just a quick update. Signed contracts today, aiming to legally complete week commencing 20th August.

Have just cashed in some of my stocks and shares ISAs. They have earned just over 10 per cent in 10 months.

I've beaten the banks.......:rotfl:

They were fairly low risk investments so I'm pleased with the result. I've left a nice little dollop in there for long term growth.

When I have moved and had a money sort out it is my intention to try buying some slightly higher risk ones but on a monthly basis, setting aside a small sum each month that I don't mind losing.

So my investment strategy will be some in the highest easy access accounts, some in relatively low risk stocks and shares ISAs and a little flutter on some higher risk investments. Then maybe a small dollop in premium bonds.

The house purchase is a renovation project which I will sell at some point. I will have a 5 year fixed rate mortgage so my outgoings will be pretty stable for the foreseeable future. I am not going to rush this project, I want to do as much as I can to keep costs down to maximise profits.

Still not made a decision on BTL because tbh I can't see them giving a higher return than the one my investments made.

I'm quite happy with what I have achieved so far this year.