Hello fam, I’m a HENRY (High earner not rich yet). I find myself with $1M or so in cash. My goal is to get to $5M net worth in the next 4 years. Looking to tap into the Blind collective wisdom for ideas I haven’t considered. Here are asset classes that I am actively looking into. What do y’all think? Thanks for your help. TC: $1.1M NW: $2M
Yoe? Are you executive?
Not executive. Senior L7 IC. YOE: 14
Qqq and forget about everything else
Do you think qqq will get me anywhere near $5M in 4 years? Genuinely curious.
How do you get to 1.1 mil TC and ask these kinds of questions. Truly mind boggling if you are not a troll
Look into funding search funds and small private equity roll ups. You have the kind of money and accreditation to get involved in the silver wave of retiring boomers selling their factories and service businesses
Intrigued. I do believe entrepreneurship is prolly the fastest way to my goal. Any pointers to learn more or get started will be appreciated.
So a couple of places to start 1) start looking up online with the term silver wave and acquisition entrepreneurship 2) understand that you are making so much more than CEO’s of 6mm metal fabrication companies are, but you can invest in many 3) seek out the local manufacturers and trade organizations around you. I’m not gonna assume you’re in the bay, but you know where to find these websites. 4) network and be honest. You want to partake in acquisitions but know you at this time are not looking to be an owner operator. The funds will find you 5) people at the events you should especially seek out: loan brokers, business brokers, coo’s that want to take it to the next level. I recently closed on a metal stamping factory where I have no daily operation obligations. Happy to send a couple messages about it if you want to chase the concept down
Fair point. Everything exist on a curve in the end. I am definitely lucky enough to have high income/nw. But my definition of rich is that I am able to sustain my lifestyle on my net worth only and I’m not there yet.
Half in securities and half in mutual funds
Wisecracker you sound like a nice person, get me hired at Airbnb please
Happy to refer. DM me.
How much are you willing to spend to acquire the knowledge and info to get to $5M in 4 yesrs or less?
Depends. Who’s selling? If it’s someone who has done it repeatedly, I’m listening.
chicken farm
Can you suggest some cash flow positive Airbnb proprieties/ areas by checking production data?
Haha. There are a lot of sites out there with that information.
Level and YOE? Congrats on that tc...
Thanks. L7