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We Have Lift Off


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We Have Lift Off

So this is where it starts to get really exciting, and fun. With the ground work of Money Making 101 in full effect, Money Making 201 can be started and more importantly maintained through the course of ones life. Had this foundation not been constructed, I would have inevitably increased my spending as my income increased during Money Making 201, diluting growth potential.  Good thing AJC has been thinking ahead.

My new number and date are officially 9 million by January 2016. but there’s no penalty for early arrival. The compound annual growth rate to arrive at this number is approximately 57% (I think in an earlier post I wrote 52%, I had used 7 compounding periods for the calculation, I arrived at 57% by using 6.5 compounding periods.) To achieve 57% CAGR, I will continue trading the funds in both my personal brokerage and 401(k) accounts until the liquid value becomes north of 4 million. At that point I will withdraw the funds from my 401(k), taking a large loss from taxes and early withdraw penalties, buy an apartment and start a long-short equities hedge fund. For the first one to two years the fund will consist of solely friends and family, this will save a bundle in administration fee’s, although the start up costs plus accounting fee’s will run about 35K for the first year. After taking on solicited investor’s and institution’s I will need to outsource the administration work and expenses will rise from there. But that’s no problem because with more money to manage, comes more opportunity. In an effort to minimize expenses and maximize tax deductions, the fund will be run from my home. There isn’t much that’s needed as far as assets to start the business, just a couple computers, phone, fax, copy machine, printer, just basic office stuff, most of it I already own.

I would like to have a shovel in the ground by this time next year, so stand by for launch.

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Reader Comments

Hello Josh.

I remember you spoke of needing to sub-contract the administration for the hedge fund in your Craigslist advertisement, so maybe you’d like to view this video of a product which tracks and reports statistically on all your trades (and on back-testing too it seems).

I don’t know if the product is any good, but just looking at the stats that it reports to give you feedback about how your trading is going, it might be valuable.

http://insideouttrading.com/tpa/analyzer/index.html

KC

Sorry Josh.

Should have given you this link too so you can see text explanation of its reporting capabilities.

http://insideouttrading.com/tpa/tsppc.html#guide-yes

KC

Because of the migration of 7m7y.com to our new hosting platform, this post – and, comments – can be found at: http://shareyournumber.ning.com/profiles/blogs/we-have-lift-off

Future posts here!

Adrian.

Thanks for the link KC, I’ll check them out.