Success Journal - The journey to actualising one's potential

BeTheChange

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Officially a millionaire!

I completed the end of month review and hit the elusive 7 figures. Had to widen the column on my excel spreadsheet.

It hasn't been any major win but really a series of small victories accumulated over time and avoiding any losses that would completely wipe me out.

The next step is for me to accelerate my career progression (looking into business schools). I set aside my career in favour of FIRE and now I've actually reached FI I've realised RE definitely isn't for me right now. I love the hustle too much!

55% Real Estate
20% Crypto and Equities
15% Cash
10% Ownership stake in private business

Real Estate valuations and private business stakes are conservative. The latter is currently being held at book value rather than any sort of multiple.

NW sits at $1,067,714.

Possibly my last post here as I accomplished what I set out to achieve from this thread when I started it in 2017 with a NW of c. $25k - $50k. Grateful for all the help and advice received and hopefully someone else might be able to learn or be inspired from the experiences I've written about over the years.

Ciao!
 

jaygreenb

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Officially a millionaire!

I completed the end of month review and hit the elusive 7 figures. Had to widen the column on my excel spreadsheet.

It hasn't been any major win but really a series of small victories accumulated over time and avoiding any losses that would completely wipe me out.

The next step is for me to accelerate my career progression (looking into business schools). I set aside my career in favour of FIRE and now I've actually reached FI I've realised RE definitely isn't for me right now. I love the hustle too much!

55% Real Estate
20% Crypto and Equities
15% Cash
10% Ownership stake in private business

Real Estate valuations and private business stakes are conservative. The latter is currently being held at book value rather than any sort of multiple.

NW sits at $1,067,714.

Possibly my last post here as I accomplished what I set out to achieve from this thread when I started it in 2017 with a NW of c. $25k - $50k. Grateful for all the help and advice received and hopefully someone else might be able to learn or be inspired from the experiences I've written about over the years.

Ciao!
Great job, the first one is the hardest. Keep at it and you will be well into the multi's in a few years.
 

BeExcellent

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SUPER excited for you!!!!

Congratulations!!!! You have worked hard, taken risks and grown through the process. May you be blessed with abundance (and guts) all your life.

I couldn’t be more tickled!

Well deserved mate! Ace of Spades Cheers!!!
 

metalwater

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wow, that's a great feeling to have. teach others when you can.
 
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Officially a millionaire!

I completed the end of month review and hit the elusive 7 figures. Had to widen the column on my excel spreadsheet.

It hasn't been any major win but really a series of small victories accumulated over time and avoiding any losses that would completely wipe me out.

The next step is for me to accelerate my career progression (looking into business schools). I set aside my career in favour of FIRE and now I've actually reached FI I've realised RE definitely isn't for me right now. I love the hustle too much!

55% Real Estate
20% Crypto and Equities
15% Cash
10% Ownership stake in private business

Real Estate valuations and private business stakes are conservative. The latter is currently being held at book value rather than any sort of multiple.

NW sits at $1,067,714.

Possibly my last post here as I accomplished what I set out to achieve from this thread when I started it in 2017 with a NW of c. $25k - $50k. Grateful for all the help and advice received and hopefully someone else might be able to learn or be inspired from the experiences I've written about over the years.

Ciao!
Congats man! You beat the odds! But I wouldn’t EXpect anything else!
 

BeTheChange

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Just came back to highlight how real the snowball effect truly is.

It's been 3 years since my last post in this thread. NW is much harder to gauge now because a lot of it is illiquid/private investments but at book value is around $6m. Market value could be anywhere from $6m - $18m.

Keep at it!
 
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BeTheChange

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Going to start using this thread to journal again as reading through some of my old posts from years ago was eye opening. You can sometimes forget the struggle and all the incremental small wins after the moments have passed.

Now in my mid 30s with a long term partner and kid and a very rewarding and blessed life. But it's important to stay hungry and focused and looking through my earlier posts it's clear how motivated I was to succeed. I believe journaling was vital to maintain that momentum and hope to build the habit back.
 

jaygreenb

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Going to start using this thread to journal again as reading through some of my old posts from years ago was eye opening. You can sometimes forget the struggle and all the incremental small wins after the moments have passed.

Now in my mid 30s with a long term partner and kid and a very rewarding and blessed life. But it's important to stay hungry and focused and looking through my earlier posts it's clear how motivated I was to succeed. I believe journaling was vital to maintain that momentum and hope to build the habit back.
I was just having this type of conversation with a friend yesterday at lunch, we both started business's around the same time and were reminiscing about our early struggles and how much things have changed financially. He was telling me a story how he went BK over a 15k debt in the early 2000's because it seemed impossible to pay off, he is probably worth north of 30M now. Pretty wild how quickly things compound once you start building momentum. Around a million seems to be that escape velocity threshold were you really start accumulating wealth quickly, Wish you much continued success.
 

FlirtLife

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It's been 3 years since my last post in this thread. NW is much harder to gauge now because a lot of it is illiquid/private investments but at book value is around $6m. Market value could be anywhere from $6m - $18m.
While respecting NDAs, can you mention the categories of private investments / hedge funds, and percent of portfolio?

There's a type of hedge fund called "secondaries" that buy up shares from people who want to sell. Since there's no public market for private investments, secondaries funds demand a discount. Does your 2x or 3x multiple ($6m to $18m) include the discount you'd have to take from selling a private investment?
 

BeTheChange

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While respecting NDAs, can you mention the categories of private investments / hedge funds, and percent of portfolio?

There's a type of hedge fund called "secondaries" that buy up shares from people who want to sell. Since there's no public market for private investments, secondaries funds demand a discount. Does your 2x or 3x multiple ($6m to $18m) include the discount you'd have to take from selling a private investment?
If we sold it wouldn't be to a secondaries fund. We'd either sell directly to private equity or a trade buyer. No plans to sell though. Trying to build a much larger business/portfolio.
 

FlirtLife

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10% Ownership stake in private business
It's been 3 years since my last post in this thread. NW is much harder to gauge now because a lot of it is illiquid/private investments but at book value is around $6m. Market value could be anywhere from $6m - $18m.
If we sold it wouldn't be to a secondaries fund. We'd either sell directly to private equity or a trade buyer. No plans to sell though. Trying to build a much larger business/portfolio.
Some of your comments suggest a single holding ("10% Ownership stake in private business", "a much larger business") while others suggest a group of holdings ("private investments", "portfolio"). I'm still confused about that.

The valuation jump you mention, turning part of your previous $1m NW into $6m to $18m, sounds more like a stunningly successful business than a portfolio of investments. Most of the richest people in the world rode a large holding in one company's stock (Tesla, Berkshire, Apple, Meta, ...). I hope you've got yourself a lottery ticket that keeps paying off.

It's harder for me to believe/understand 18x in 3 years with part of your NW, if that was invested in several private investments.
 

BeTheChange

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Some of your comments suggest a single holding ("10% Ownership stake in private business", "a much larger business") while others suggest a group of holdings ("private investments", "portfolio"). I'm still confused about that.

The valuation jump you mention, turning part of your previous $1m NW into $6m to $18m, sounds more like a stunningly successful business than a portfolio of investments. Most of the richest people in the world rode a large holding in one company's stock (Tesla, Berkshire, Apple, Meta, ...). I hope you've got yourself a lottery ticket that keeps paying off.

It's harder for me to believe/understand 18x in 3 years with part of your NW, if that was invested in several private investments.
By portfolio I'm referring to businesses I majority own. That's largely how I've been able to scale my NW.

The 10% ownership stake in a private business is unrelated. I sold that off and rolled the proceeds alongside all my liquid assets into a single transaction, which is how I came to own the business I currently operate now.
 
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