Elimination #2 – Ed

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Elimination #2 – Ed

Somehow, I’m sure that Ed won’t be too surprised at being eliminated (such a nasty word) … he was surprised that he made it this far: “O dang, I didn’t think I made the list, looks like I am way behind the ball now” 🙂

However, I did want to encourage Ed to continue his personal journey and to remain an active member of the 7m7y Community … believe me, it will be (almost) as good as being one of my 7 Millionaires … In Training!

Here’s Ed’s post …

 What attracted you to this project in the first place?
I had first seen your profile on NetworthIQ when I added mine. (Yours is now hidden, wish it wasn’t, would also like to see a few years of data points to see at what rate your NW is accelerating) 

I pulled all the people out of NetworthIQ and compared myself to the others based on all the criteria that NetworthIQ has. (Over all, age, income, Degree, Job and State)  At the time I was 16.4% overall, 26.1% by age range, 12.7% by income, 6% by Deg, 26% by job, and 11.8% by State. So I started looking and comparing myself to the top 5% of each category and looking at where they had their assets and liabilities to see if I could model myself after any or all of them. I didn’t really see anything that was overwhelming proving any theory works.

At a work leadership training class the teacher said that people with goals were the highest paid people. So I have been working on building goals, so far not the best at making up my mind on what way to go. I looked at a few NetworthIQ profiles and seen a few people with lots and lots of goals the problem was most of their net worth’s were far below water. So what kind of things can I take from the people with goals?

What you hope to get out of it?

I hope to get out of this the ability to make money with my mind and with less time than doing the heavy work and lots of time. At this time I have been playing a few stocks most in the market I have been losing on, been using the buy and hold. If I would have been using a buy and sell I think I would be a lot farther ahead. I liked the idea of no money down businesses. And I am still trying to take the time to get my fingers around the 20% rule on housing.

Why you have stuck to it for this long (and haven’t even got started yet!)?

It has been hard, only because I want to spend time with my family because I have a new 7 Month old at home. And it is so fun to see what she will do next. I also have one rental and it eats up some of my home time. But I think this it the ticket to more time with my family if I can become money secure.

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