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re: *Updated* Life changing income about to happen and I need advice
Posted on 1/12/21 at 8:07 pm to hungryone
Posted on 1/12/21 at 8:07 pm to hungryone
quote:
Glad he’s not my spouse: she works nonstop 12 hr days and his response is to quit his job? Lol.
I’ve asked him twice in this thread to look into how many of his wife’s new friends have been through divorce and infidelity. I hope he took that advice to heart.
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Posted on 1/12/21 at 9:01 pm to Mariner
quote:
I want to be clear that if you are thinking of becoming one or you want to convince your wife to do it, it takes a lot to be successful. You have to have passion, a niche, and work your arse off. My wife has barely done anything for herself for 12 months and is all in on the business.
This advice literally translates to any high paying venture.
quote:
All of the influencers she communicates with have been doing this for several years. Most have done it over 5 years. They live in custom homes and do swanky vacations all the time. Their stories include that they were former lawyers or had nice paying professions and quit to be one, their husband ultimately left their job to assist and manage the business
I'm assuming she's also learning from influencers who have crashed and burned. The space she occupies and the people she influences had to have once been occupied by another influencer, right?
Posted on 1/13/21 at 8:29 am to hungryone
I don't think its crazy for him to go all in on his wife's new venture ie support her gig in whatever way he can. Again if she is a legit influencer she will need people to support her and grow her brand.
I probably would have kept my job and supported her but to each their own.
I probably would have kept my job and supported her but to each their own.
Posted on 1/13/21 at 10:14 am to hiltacular
I will give an update in 6 to 9 months on status. A lot of people have doubts just like I had, but I made an informed decision and weighed all scenarios....good and bad. I believe that if something is going to become a huge success, you need to be all in for it. My wife went all in, and she could because I was the breadwinner and could absorb failure. I was originally a non believer but not anymore. It is a big market with even greater potential. My former job showed a bleak future with no signs of improving within 5 years. That made it easier for me to leave.
I will move on to other things eventually. Right now it is about helping her business thrive, oversee the accounting, taxes, etc, take care of the kids, tend to normal family matters, so that she can focus primarily on the business. It continues to grow.
Thank you to those people who showed support, and also those that provided skepticism. It was a factor in my decision.
My wife and I are moderately conservative. We grew up with strong values instilled by our grandparents, so we are traditionalists deep down. We believe in marriage and commitment, and important role models for our children. We do not care to be socialites or flamboyant. I am not concerned on how this could affect her. We are a team at all times.
I will move on to other things eventually. Right now it is about helping her business thrive, oversee the accounting, taxes, etc, take care of the kids, tend to normal family matters, so that she can focus primarily on the business. It continues to grow.
Thank you to those people who showed support, and also those that provided skepticism. It was a factor in my decision.
My wife and I are moderately conservative. We grew up with strong values instilled by our grandparents, so we are traditionalists deep down. We believe in marriage and commitment, and important role models for our children. We do not care to be socialites or flamboyant. I am not concerned on how this could affect her. We are a team at all times.
Posted on 2/22/21 at 9:34 pm to Mariner
Not hating, but holy mother of god do I LOATHE social media. I advertise my business on it, but frick. It’s a complete waste of societal intelligence.
Posted on 2/22/21 at 10:08 pm to Mariner
Not gonna lie, after reading this thread I see a divorce in your near future. Your wife hits it big with a business idea and the first thing you decide to do is quit your job and “invest” your wife’s new found money??. That’s a recipe for serious resentment. If anything, you should have continued on with your career. You could have helped provided long term wealth and stability by maintaining your income.
Posted on 2/22/21 at 10:21 pm to Blizzard of Chizz
Who said he’s not the backroom of her business keeping up with the books and paying the taxes etc.
Posted on 2/22/21 at 10:37 pm to Mariner
If it were me, I’d build a storage facility. I am in the property management game, company I work for has like 80 of them. Its hard to start from nothing, so having a plan to build the buildings in phases is the way to do it. Once first building is full build the second etc.... etc... they are cash cows that are worth a fortune once fully occupied and running on all cylinders.
This post was edited on 2/22/21 at 11:08 pm
Posted on 2/22/21 at 10:41 pm to Palm Beach Tiger
OP, tell your wife to keep her chin up LINK
Posted on 2/22/21 at 10:41 pm to jimbeam
Posted on 2/22/21 at 10:42 pm to Lickitty Split
quote:
Who said he’s not the backroom of her business keeping up with the books and paying the taxes etc.
He did. He clearly stated that he wanted to invest her money into fun ideas and get away from the daily grind. Those ideas might be fun to him, but maybe pump the brakes and let her have a say in how to invest it.
Posted on 2/23/21 at 7:10 am to Mariner
quote:
I appreciate all the advice given. I am not giving up my career. I am taking a hiatus. From here I am researching other business opportunities. I have a phone call scheduled next week with a franchise consultant. We will see where that takes us. I am in no rush and want to consider all good and bad with every opportunity before I move forward
I’ll be honest, you seem like you’ll be the reason your family’s wealth evaporates.
Posted on 2/23/21 at 7:57 am to slackster
Sooo we still don’t know what the business is do we ??
Posted on 2/23/21 at 8:02 am to slackster
Curious as to why you would state that prediction. No self respecting person would want to be the cause. Please elaborate so I can benefit and not become a statistic
To everyone who keeps mentioning the D-word. I sometimes wonder what marriage is to others. For over ten years my wife sacrificed her lifestyle and managed her emotions well with the career I had, which is challenging to relationships and most of my peers in my career are divorced or cannot hold a relationship due to the career demands. Now it is my turn to sacrifice, and honestly our income has dramatically increased due to my new role in the family, and her being able to further further.
I am not unemployed hanging out at the camp drinking beers dressed in camo. I am balls to the wall in family matters on a daily basis.
To everyone who keeps mentioning the D-word. I sometimes wonder what marriage is to others. For over ten years my wife sacrificed her lifestyle and managed her emotions well with the career I had, which is challenging to relationships and most of my peers in my career are divorced or cannot hold a relationship due to the career demands. Now it is my turn to sacrifice, and honestly our income has dramatically increased due to my new role in the family, and her being able to further further.
I am not unemployed hanging out at the camp drinking beers dressed in camo. I am balls to the wall in family matters on a daily basis.
Posted on 2/23/21 at 9:02 am to Blizzard of Chizz
quote:
Not gonna lie, after reading this thread I see a divorce in your near future. Your wife hits it big with a business idea and the first thing you decide to do is quit your job and “invest” your wife’s new found money??. That’s a recipe for serious resentment. If anything, you should have continued on with your career. You could have helped provided long term wealth and stability by maintaining your income.
Posted on 2/23/21 at 9:19 am to Mariner
quote:
Curious as to why you would state that prediction. No self respecting person would want to be the cause. Please elaborate so I can benefit and not become a statistic
You know how Pro athletes go broke because they spend money as if they’ll make it forever and invest in a litany of bad business ideas? That sounds like your future.
Just get out of your wife’s way, save money, and invest normally. You don’t need to try and find some cash cow, you already have one. Nurture it, spend wisely, and don’t be greedy.
Posted on 2/23/21 at 9:21 am to Mariner
quote:
I appreciate all the advice given. I am not giving up my career. I am taking a hiatus. From here I am researching other business opportunities. I have a phone call scheduled next week with a franchise consultant. We will see where that takes us. I am in no rush and want to consider all good and bad with every opportunity before I move forward
How did I miss this? Holy shite.
First you claim you are in no rush, but clearly you are. From your op, you’ve been throwing out ways to “invest” your wife’s new found earnings. You also said you are meeting with a franchise consultant. Maybe instead of pumping all the capital from your wife’s business into all of these other plans, perhaps you should focus on her business and reinvest the money there?
How in the hell is she ever gonna grow and hire employees if you are buying up car washes, ice machines and franchises?
Posted on 2/23/21 at 9:25 am to Lawyered
quote:
Sooo we still don’t know what the business is do we ??
I smelled either bullshite from him right off the bat, or that we define "life changing wealth" differently. I did some math a few pages back on where she'd need to be and it literally doesn't add up. He's given no metrics or data on her following, traffic to her content, clicks out, cost per, etc.
Here was my math:
quote:
Think about the math...if he's telling the truth that $1,500-$2,000 is a normal day, and assuming that she gets a MAX of 10% for each sale she drives. Assuming Walmart women's jeans are about $30 (they are, I checked).
She would get $3 per sale, which is 667 sales generated. Let's back that out...
Total followers x % that actually see the content x % that see, are interested in, and click the link x % that actually complete the sale and she gets the attribution (versus just being interested and going into the store later...a purchase she would not get credit for).
I work in digital sales, so making some very rough assumptions...
She'd be lucky if 30% of her followers see the content, and she'd maybe see a 2-3% click through rate, with a roughly similar sales rate of 2-3%. That's being pretty generous with the percentages. That would mean her following is around 3,557,333 people.
This post was edited on 2/23/21 at 9:26 am
Posted on 2/23/21 at 9:26 am to Blizzard of Chizz
quote:
How in the hell is she ever gonna grow and hire employees if you are buying up car washes, ice machines and franchises?
It worked for Walter White
Posted on 2/23/21 at 9:55 am to Mariner
quote:
Curious as to why you would state that prediction. No self respecting person would want to be the cause. Please elaborate so I can benefit and not become a statistic
To everyone who keeps mentioning the D-word. I sometimes wonder what marriage is to others. For over ten years my wife sacrificed her lifestyle and managed her emotions well with the career I had, which is challenging to relationships and most of my peers in my career are divorced or cannot hold a relationship due to the career demands. Now it is my turn to sacrifice, and honestly our income has dramatically increased due to my new role in the family, and her being able to further further.
I am not unemployed hanging out at the camp drinking beers dressed in camo. I am balls to the wall in family matters on a daily basis.
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