• 03:37:00 am on December 5, 2008 | 6
    Tags: , ,

    6 Years, 11 Months To Go

    Josh: I’ve always wanted to know a hedge fund manager! Hang on, I already do 😉  Given the current market, it’s probably a good idea that Josh is preparing to ‘soak’ a few years up in preparing to start his own hedge fund: getting an MBA and the likeof course the acceleration curve will then need to be HUGE unless the internet businesses have kicked in some serious bucks, as well

    __________________________

    My current financial situation is not too bad. I’m not in any debt, I make a comfortable wage, one that should be increasing soon due to a promotion, and my expenses are relatively low. I recognize the unique situation I’m in and plan to take advantage through the following ways.

    I’m currently pouring all excess money into my online business. It’s costing more then it should right now because I’m basically learning what avenues are effective by trial and error. I believe these costs will eventually be recouped as more and more orders come in, which is what happened after I tweaked the advertising campaign. I’m committed to seeing this business through till it becomes profitable; I think a realistic time frame for profitability is six months.

    The only possible way I can accomplish the goals for my business at the rate I’m currently working at, is because I still live with my family. This luxury allows me to save on lodging every month, which is money I put towards my business and other investments. After disclosing this information in a previous post, there was some concern about how much I was inconveniencing them. I can assure everyone, the only reason it works is because it’s convenient for all parties. It’s actually so convenient that I’m considering…

    Graduate school is also an option at this point. NYU offers an MBA program which I could complete in about three years time and attend as I work at my current job. I would pay for the program through my salary, in the hopes that the on-line business would supplement the huge gaping hole in my income that $1,400 a credit would create. Although this seems to be working backwards, it would set me up, in an idealistic way, to eventually open my own hedge fund.

    Check out my NetworthIQ profile.

     

Comments

  • Diane 1:41 pm on December 5, 2008 | #

    Josh, One of the smartest financial moves I ever did was moving in with my aunt when I got engaged years ago (it’s on my NetWorthIQ profile in fact!) It’s amazing how much I saved in just six months. I then roomed with someone when I moved to Ohio – just rented the room – and continued to save. I had close to $10k in a year’s time and wasn’t making even 1/2 of what I just left. I think living with your folks is GREAT – those housing PLUS bills really eat a lot up.

  • AJC 3:54 pm on December 5, 2008 | #

    @ Diane – I agree; if Josh is good with it, and his parents are, then why not. Hey, I didn’t move out until I was 27 …. call me “Loser” 🙂

  • Josh 2:46 am on December 8, 2008 | #

    Thanks for the support guys. And sorry about the late reply just getting back in town after a long weekend.

  • Mark 9:21 pm on December 10, 2008 | #

    Hey Josh, you got to check out mixed stocks and options trading strategies. I’m up for some healthy discussion.

  • Josh 11:34 pm on December 18, 2008 | #

    yea man, I’m considering a straddle position for biotechs coming up on FDA decisions. Def a strategy I need to spend time to really learn and try out with my paper account.
    Any stocks catching your eye right now.

  • Adrian 12:13 am on December 19, 2008 | #

    @ Josh – now’s a great time for straddles on just about anything … if you have money to burn, in case it doesn’t quite go according to plan.


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