PsyopRanger
Recycles dryer sheets
- Joined
- Jul 4, 2006
- Messages
- 227
I found this site through spideyman; we have been on the richdad site for the last 4 years.
I am still young but I am looking at gleaning some wisdom from those of you who have accomplished ER.
Here is me:
I am 29; I work in Army Special Operations and currently live in Italy. I have been married for 9 years and have 2 children ages 7 and 6. From age 17-21, I built, operated and sold/transferred 2 small businesses. I then joined the Army, the first time, and ended up outside Seattle. During this time, I got involved with the infamous Amway/Quixtar business, although I didn’t build this business; I picked up many good habits and got the dream to retire young. I also got to spend time with many self-made millionaires and tried to learn from them. I also got my Bachelors in Marketing during this time.
Next, I worked in sales and then insurance, because of my performance, I got a lot of face time and trips with the CEO's of a number of companies, I tried to learn as much as possible. I then started working as a Financial Planner for 2 years. I specialized in business owners and complex estate planning for wealthy individuals.
I left Financial planning for two reasons:
First, I felt like a glorified salesperson and second, I wanted to teach people about building wealth and smart investing habits. My company wanted me to push products and numbers. So I left and rejoined the military.
I joined the military mainly for the pension after 20 years and the benefits (insurance, LTC, etc) I learned Arabic and have made frequent trips to the Middle East since 9/11.
I really started investing around 2001. I got really interested in accredited-type investments and how to access them without being accredited. I follow Robert Kiyosaki’s investment advice of “Don’t be Average” I have averaged 30% or more returns since 2002 using stocks, options, managed futures funds and mutual funds.
I own 2 real estate rentals for positive cashflow. I try to buy 85% under FMV and rent for cashflow. I plan on buying a new rental at least once every 2 years (hopefully more) and then ultimately, 1031 exchanging into a Triple Net Lease commercial property. I hold my properties using the PREMES, Professional Real Estate Multiple Entity Structure which is essentially a LP with an LLC as the general partner.
I invest using CANSLIM for stocks and options and I am evaluating a service that uses LEAPs for above average returns.
My new passion is global investments. Since I am in Europe, I have a foreign bank account and foreign investment account. This has opened doors to many investments that most American’s aren’t even aware of. I have a team of advisors who specialize in legal offshore investing, tax planning, attorneys, etc.
Using my knowledge and financial planning background, I have helped numerous soldiers set up retirement accounts, invest and develop financial plans.
This is my exit strategy.
At 45, I will be able to retire with a military pension of just over $5000 per month. My Roth IRA will have at least $1M as will my spouses. I will 1031 exchange my real estate into a Triple Net Lease commercial property for monthly cashflow of $8000 or more.
I plan on retiring in the mountains and also have a condo in the Caribbean (Cayman’s, Belize,?) I want to spend my retirement writing a book on wealth and spend a majority of my time giving and helping charities raise funds. I am also active in my church and plan on working there as well.
That is me. Glad to meet you.
Lance
I am still young but I am looking at gleaning some wisdom from those of you who have accomplished ER.
Here is me:
I am 29; I work in Army Special Operations and currently live in Italy. I have been married for 9 years and have 2 children ages 7 and 6. From age 17-21, I built, operated and sold/transferred 2 small businesses. I then joined the Army, the first time, and ended up outside Seattle. During this time, I got involved with the infamous Amway/Quixtar business, although I didn’t build this business; I picked up many good habits and got the dream to retire young. I also got to spend time with many self-made millionaires and tried to learn from them. I also got my Bachelors in Marketing during this time.
Next, I worked in sales and then insurance, because of my performance, I got a lot of face time and trips with the CEO's of a number of companies, I tried to learn as much as possible. I then started working as a Financial Planner for 2 years. I specialized in business owners and complex estate planning for wealthy individuals.
I left Financial planning for two reasons:
First, I felt like a glorified salesperson and second, I wanted to teach people about building wealth and smart investing habits. My company wanted me to push products and numbers. So I left and rejoined the military.
I joined the military mainly for the pension after 20 years and the benefits (insurance, LTC, etc) I learned Arabic and have made frequent trips to the Middle East since 9/11.
I really started investing around 2001. I got really interested in accredited-type investments and how to access them without being accredited. I follow Robert Kiyosaki’s investment advice of “Don’t be Average” I have averaged 30% or more returns since 2002 using stocks, options, managed futures funds and mutual funds.
I own 2 real estate rentals for positive cashflow. I try to buy 85% under FMV and rent for cashflow. I plan on buying a new rental at least once every 2 years (hopefully more) and then ultimately, 1031 exchanging into a Triple Net Lease commercial property. I hold my properties using the PREMES, Professional Real Estate Multiple Entity Structure which is essentially a LP with an LLC as the general partner.
I invest using CANSLIM for stocks and options and I am evaluating a service that uses LEAPs for above average returns.
My new passion is global investments. Since I am in Europe, I have a foreign bank account and foreign investment account. This has opened doors to many investments that most American’s aren’t even aware of. I have a team of advisors who specialize in legal offshore investing, tax planning, attorneys, etc.
Using my knowledge and financial planning background, I have helped numerous soldiers set up retirement accounts, invest and develop financial plans.
This is my exit strategy.
At 45, I will be able to retire with a military pension of just over $5000 per month. My Roth IRA will have at least $1M as will my spouses. I will 1031 exchange my real estate into a Triple Net Lease commercial property for monthly cashflow of $8000 or more.
I plan on retiring in the mountains and also have a condo in the Caribbean (Cayman’s, Belize,?) I want to spend my retirement writing a book on wealth and spend a majority of my time giving and helping charities raise funds. I am also active in my church and plan on working there as well.
That is me. Glad to meet you.
Lance