Your first memory of wanting to be..

It's good that you've started and have something to work towards. Bonus that it's something you enjoy.
Do you have a plan for how long it will be before you can transition to it full time?

 

@Azazel I have got no clue. It may not be for a while as it requires a decent amount of capital that I do not have

 

I never pursued wealth as such, but I always wanted to work for myself. I was doing my own thing, part time at least, from around the age of 20. I also always loved working for commission and incentives, so it's a natural fit to be in business and not need the security of a wage.

I loved the idea that I would be paid what I was worth and not a cent more. It's a great way to make sure you're adding value to the world. So wealth for me is a side effect, it's never really been a motivator. But I admit I enjoy the fruit of it!

 

If your failing to plan, you're planning to fail
Good to have a rough idea and get some stuff down on paper - it's remarkable what happens once you get some plans written down. So let it be written, so let it be done.
I'm out of corny quotes for now...

 

I remember not having a lot growing up. Money, clothes, general stuff etc.

As a child I hated seeing all of my friends with their nice cars, homes, clothes, Foxtel and I had none of it. At the time I didn't understand why my friends had all of this and I didn't.

I think I would've been about 9 or so when I noticed the first real problems with money. My parents were running their own skating rink after one of their other businesses closed down, but Dad was also working in Sydney (we lived in Wooloogong).

It was around then that I didn't want to be like them, struggling.

And the rest, they say, is history. Shout out to @skater for preparing me for the "real world" or I don't know how I would've ever coped and I certainly wouldn't be doing what I am now if it wasn't for you guys.

 

1981 stood and watched my class drive off in the bus to go for the annual camp. I couldn't go because it was the middle of a recession and Dad just got laid of work.

I decided there and then if I have children this will never happen to them and the best remedy is to have plenty of moola.

For the record had a great childhood and thankful to my parents for all the sacrifices they made for me and my sisters

 

Bit of a bummer huh.
I remember having to use one of the old school tents - looked like it was Civil War era - on a camp because we didn't have one. Got rained out of course, had to go and crawl into my friends tent who had one of those new fangled dome tents.

 

Oddly enough, I got inspired into property from one of the biggest dealers in Mt Druitt.

I recall his words: "datto, get into property as quick as you can. There will be world wide financial calamities and record low interest rates resulting in unheard of property prices here in Sydney. And here, read these self help books....now look, I'm out of 20s, how about a 50?"

 

Adding to the sub thread... we always went on a caravan trip as a holiday when growing up. Never stayed at hotels.
But there was this one time my parents decided to go on a family holiday to Tasmania. They took my younger 2 sisters but not me and my older sister because we didn't qualify for kids fares. My sister had a casual job and a car and got to stay with her boyfriend. I also had a casual job but for some reason I got stuck at my aunty's place (might have just got my P plates but I don't think I had a car so I was stuck.) for a week to do maths. It was extremely boring. Couldn't go to work from there. Didnt even go to the shopping centre. Came first in the circle geometry test went we went back to school. But what a waste of my week...
Would not do that to any kid of mine.

 

Some good advice there, regardless of who it came from.
Hope he gave it to you for the same price too.

 

I'm about to turn 32 in a couple of weeks and I feel like I'm missing the boat. I don't know what I want to do next.

I have wanted to be financially free since I was about 23. I never really cared much about it before. Now I feel like time is getting away from me. I know I'm still reasonably young but I am eager to get started.

 

It was the lowest point of my 10 year existence. Was thinking about it afterwards and a few other low points and realised they where the catalyst for positive change, and only came to fruition decades later.

You are the perfect age to get going, know go

 

I'm sure it wasn't a pleasant feeling for the younger you.
Good that it was one of the reasons for you making a positive change.
How did you find real estate as a way to move forward?

 

I always new it was a way to create wealth and then learned firsthand after buying a 1 bedroom flat in Dianella in 2000 when the FHOG first came in which paid for the whole lot (55k purchase price, deposit + costs on a 95% lend and LMI was less than 1k) with change that I used to do a cosmetic reno. Used the equity to buy a piece of land in Hocking and built a PPOR on it with lots of "sweat equity" Then the early to mid 2000s property boom was in full steam. Bought another piece of land and built 2 3x2 units on it.

What really made me pay attention is when we sold the PPOR and doubled our money in 3 years since buying the land. I couldn't believe it was actually real until the disbursed funds hit the account. Then I was hooked, naturally. We went on to buy and sell other stuff and have made mistakes and could have done things better, but thats life.

Property is what allowed me to quit my job and become a mortgage broker which is 100% commission based in most cases and the first few years can be a break even proposition and thats if you last that long as most dont. So I still make a crust via property one way or another and it wasn't any great skill just calculated risk combined with dumb luck like a lot of people on here but perhaps they wouldn't admit that

 

Crikey, you've been going for a while as well, good stuff.
Although I'm not sure where Dianella is

That's really cool to hear, I'm sure some people will get some inspiration from that. I like the term dumb luck too.
I'm still a worker, but have a plan to get where I want to be eventually.

 

I went dormant for a while but thats a whole other story.

 

Suburb of Perth, 10k north westish from the CBD.

 

Hi mate,

I know you didn't ask for my advice but I'll give my 2.cents anyway.

I have seen ppl in their 20s and 30s go from almost zero to financially free within 10 years. The common things they all did was 1. develop a great sense of urgency 2. take time to think about and write down a plan of what you want, when you want it and then what you need to do to get there. 3. start learning what you need to know 4. take action.

They made it either an obsession or semi obsession to achieve their goals which was clearly reflected by their new mindset. Depending on your level of chosen intensity you will decide what's right for you but imho if we cut out all the nicey nicey stuff some ppl like to say and all the BS if you want to achieve your goal of financial freedom in the next 10 years then it's very likely you're going to have to be quite different to how you were the last 10 years.

just my 2 cents .

 

I agree. It doesn't have to be total obsession like a zombie for 10 years. But parts of it are going to be very intense. There's a lot to learn, and it can get very hard at times. Some people are better learners, some people are better at dealing with stress. I think it gets easier as you learn from doing as well. 1st step is to start.

 

From a teenager I always wanted to be successful but didn't really know what that meant. I had bloody poor school results (no interest / attention span) and knew tertiary education wasn't for me. The only subject I really liked was Business Studies. I went straight into the work force at 17, in the international trade sphere and have been here ever since. I was like a duck to water and never looked back.

By my late 20's I had equity in my employer and when it was sold to a large corporation a few years later I knew I never wanted to work for anyone else again, so started my own company with a business partner and external investors in 2010. Well, the business partner is now gone (shares bought) and I am working with two other internal shareholders (managers) to buy out our external shareholders.

The thing is, when I have focussed on money, I have really lowered my horizons. The focus must be on growth and building something, money then follows. Its a long game. If you focus on the big picture, and not the dollars and cents in the short term, you will be amazed at what can be accomplished.