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MX, SX & Off-Road Discussions
General Moto | Off-Topic Posts
i will be getting 40k what to do with it
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[QUOTE="xsnrg, post: 1268568, member: 54994"] You're 25. You can afford some risk with time to make it up. Park the money somewhere it will make some return for you. In the meantime, if you dream of owning your own business, go work for a business just like the one you'd like to start...even if it is ass't manager at a Dairy Queen since you mention that. Get to know the insides and outsides of the business as an uninvested observer and be darn sure you know what you're getting into. Find yourself a trusted and proven mentor in the field you want to open a business in... there is a lot of wisdom out there available to be had for the asking and showing some respect and gratitude. When you know what you're doing, you'll have some startup capital and a trusted advisor to guide you in not losing it. Take a look around you at the next amateur MX track you're at. There are a ton of big expensive rigs there full of racebikes, spares, and practice bikes. Here's a hint... a good percentage of them own their own businesses. Even as an engineer, you won't be affording a rig and bikes and the time off to do those things...not that it is your goal necessarily. Many first time business do fail, but how do you ever become a 2nd time business owner if you don't even take that chance? Here's a tip... a lot of engineers fail also... it's a thing called continuous layoffs and outsourcing. My advice is figure out how to be your own employer and use the leg up of having capital to get it done, just don't hurry into it without a plan, lot's of preparation and studying, and someone that has already learned the mistakes the hard way and is getting out of the business. (or are enjoying a lot of success in a non-competing market). btw...no offense to engineers, I pick on that b/c that was my background and have done and observed the corporate engineering thing at a Fortune 5 company + observation of a lot of others in the field. [/QUOTE]
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MX, SX & Off-Road Discussions
General Moto | Off-Topic Posts
i will be getting 40k what to do with it
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