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Posts Tagged ‘successful business’

I’ll be 23 in May, graduated with a finance degree, I have a job at a hedge fund backed by a billionaire business man (first job been here 6 mos). I dread the job, I do nothing all day, and when I do have work it’s pure data entry. If ever promoted, I’ll just be doing more data entry. Everyone says it’s a great opportunity but I see it holding me back. The job makes me feel flat out worthless. I’m very creative, innovative, and driven. And this job uses none of those talents. I want to wake up and enjoy what I do, not dread the day ahead of me.

I’ve created a product and I want to start producing it and sell it. I feel with my creativity, drive to be successful, business smarts, and drive to pursue what makes me happy, I could make something happen. About to be 23, no debt, good sized trust from grandma, no gf or kids, and can quit in June move back to Austin with my parents (free rent). Some people think I would be crazy to quit and pursue this. Any Advice? What do you think?

I’ll be 23 in May, graduated with a finance degree, I have a job at a hedge fund backed by a billionaire business man (first job been here 6 mos). I dread the job, I do nothing all day, and when I do have work it’s pure data entry. If ever promoted, I’ll just be doing more data entry. Everyone says it’s a great opportunity but I see it holding me back. The job makes me feel flat out worthless. I’m very creative, innovative, and driven. And this job uses none of those talents. I want to wake up and enjoy what I do, not dread the day ahead of me.

I’ve created a product and I want to start producing it and sell it. I feel with my creativity, drive to be successful, business smarts, and drive to pursue what makes me happy, I could make something happen. About to be 23, no debt, good sized trust fund, no gf or kids, I can quit in June, move back to Austin with my parents (free rent). Some people think I would be crazy to quit and pursue this. Any Advice? Suggestions? What do you think?
Thanks for all the great answers and advice!!! I think a lot of people are quick to judge and call you crazy because they are envious of those who want to leave the "security" of a 9 to 5 and pursue what really makes them happy in life. This corporate world is a joke. I have every reason to follow my dreams, I’m young, driven, creative, and have no real obligations, so the time is now. I have been and will continue to do a lot of research and reading to educate myself as much as possible before pursing my product and business. Thanks again for your motivation and encouragement!!!

For lack of a better term i was forced to take out a mortgage last year on my home that was paid for. The terms and percentages were awful but thats besides the point.

My income at the time was sufficent to pay my bills and the mortgage.

I ran a successful business for a little over two years until 4 months ago when things went downhill. My mortgage payment is more than most people make in my area in 2-3 paychecks and now im unemployed with a SMALL list of other monthly bills besides the mortgage. I do have about k in other unsecured debt from the business and other unsecured creditors from when i was young that i never took care of.

I have thought about bankruptcy, chapter 13 is a no-go mostly because i cant afford the mortgage payments now so why would i waste my time with a 13?Otherwise it could work,but otherwise i dont really need a bankruptcy if were not including the house mortgage because i could just set up monthly payments with my creditors at a small payment.
7 minutes ago – 3 days left to answer.
my monthly expenses are slim so im not worried about that.

My problem seems to stem from my home, i have about 40k worth of equity in a 117k home.

With that kind of equity, it really does not make sense to file a chapter 7 because in my state you lose all equity besides 5k no matter what.

It really doesnt make sense to do a 13 because as already stated i cant afford the payments now,much less the payments to all my creditors plus the mortgage.

And the only other options are selling, of which is not really an option because foreclosure has already been initiated.

Or a deed in lieu of foreclosure, but then im giving them all of my equity for "free" although the foreclosure would likely not show up on my credit report and i could begin to repair the other damage.It would be faster to do this than to wait 10 years for a BK to come off the credit or 7 years for a foreclosure to come off.

OR just let it be foreclosed on……thats not appealing at all ofcourse.
ADVICE?