Saved up 10k€ for first time

[mmKay]

+ I could take a year of disemployment where I get paid for NOT working. 

I'm quite frugal so I don't have issue saving up money, but I've never had this ammount. Last time I burnt 6k+ on expensive RSD course that I flunked and expensive rent in Barcelona. 

23 yrs old male and live in Spain. I work as a waiter and live with my "6.5 ( on a toxic scale) parents. Building a camper van to move out and be independent. Haven't gone to university ( yet? ) since I wanted to crack LP a bit first. 

I recently finished the Life Purpose course and my LP ( after 3 years of slacking and fapping and struggling) can be summed up in " Personal development filmmaker / Vlogger " , with the Impact statement of " Contributing to the evolution of peoples inner game in a playful way via cinematography. 

I'm still in the very early stages of the vision. Maybe I could invest in filmschool or acting school, while chugging personal dev content on the side? Probly gonna need some gear besides my gopro but I'm clueless.

Also I'd like to find people who share my passion, the inertia has my ass on the coach quite hard since it's all on me to start creating content and building my skills ( with no ecosystem that drags me toward filmmaking I mean) 

I used to be heavily interested in Spirituallity but I find that I've reached my treshold ( still got Karma to burn with girls, making a living, living a "meaningful" life and overall developing the ego. Otherwise I'm just dysfunctional and unmotivated and a couch potato. 

I've done mushrooms once but IDK if i want to be doing any other 'delics for now. I don't want to f*ck myself up and be unstable again ( struggled with dark night of the soul for 2+ years :0 ) 

Hmm I think thats enough info bout me.

Thoughts? Any finance gurus around? Or just wise people that have been in my situation? ?

Or I could just wire the money to Leo's Church of Spiritology ?

Or just buy groceries in bulk and build a bunker " to prepare for the Apocalipsis " as my mom says LMAO??‍♂️

Edited November 5, 2020 by mmKay

[Leo Gura]

https://www.actualized.org/tip-jar

[Geromekevin]

2 hours ago, mmKay said:

I recently finished the Life Purpose course and my LP ( after 3 years of slacking and fapping and struggling) can be summed up in " Personal development filmmaker / Vlogger " , with the Impact statement of " Contributing to the evolution of peoples inner game in a playful way via cinematography. 

1. Focus on film making 60 to 80 hours a week. Read books, watch tutorials 20% of the time and execute and practice 80% of the time. Do it for 3-6 months until you're okay / decent / good at it.
2. Move into the city where you favorite guru / coach / mentor / instructor live and offer to work for him for free. If he declines, next until you get to work for someone for free. Use the rest of the money to sustain yourself until you are good enough so that that person will pay you.
3. Now you work on your life passion getting paid with one of the most influential persons of your life.

Then you can calibrate further.

[mmKay]

@Geromekevin Actual good advice, thanks.

[mmKay]

@Leo Gura  If you hand knit me one of these I'll cut you a deal x D
 

Or you may apply the same concept to socks, your choice ; )

[aurum]

@mmKay

It might seem like a lot but 10k ain't much man.

If you're 23, I'd put it basically all into personal development and your LP. But be strategic about it.

Don't just blow it just to blow it.

Really find something you feel will be worthwhile and then go for it.

In the meantime, just hold it. Don't invest it, you not gonna make any money by investing only 10k. You need at least 100k for that.

[meow_meow]

57 minutes ago, aurum said:

Don't invest it, you not gonna make any money by investing only 10k.

This is crap advice.

You can start exploring, studying the stock / crypto markets and start trading slowly to make some extra cash for daily spendings.
Don't invest all your money of course, but ~1k would be enough once your familiar and comfortable with it.

Also - how much does an apartment / flat cost in your area? maybe look into saving some more and buying yourself a place to live.

If you have already created a purpose for your life, then, if i'd be in your place, I would invest the shit in it to get it going.

[mmKay]

@aurum  I guess that's what I'm going to do now, just keep it. I noticed I had a subconscious barrier at 6k. Every time my savings went above that I'd find a way to spend it. 

Yeah, I'll definately invest it in LP, whatever that may mean for my specifc scenario ( actually, I need to sit down and journal about what does it ACTUALLY MEAN to invest money into my LP of Personal development filmmaker, I'm clueless) 

 

@meow_meow Marbella is quite expensive. I have this plan of living in my Van since it fits my frugal way of being so I won't be investing in renting / real estate, and also, stoncks / crypto isn't aligned with my values so  even though I't may be possible to make some income there, I'd rather, as you recommended , go all in with my LP over the long run, but thanks for the perspective anyways. 

 

Edited November 5, 2020 by mmKay

[aurum]

1 hour ago, meow_meow said:

This is crap advice.

You can start exploring, studying the stock / crypto markets and start trading slowly to make some extra cash for daily spendings.

He certainly could use this time for studying. But the stock market is a morally questionable place to invest. There may be certain companies that are alright, but many companies are highly unconscious and you are contributing to that by investing in them.

The crypto market is also highly speculative and is little more than gambling. You can make money in it, but I don't find it a conscious form of investing at all.

Regardless, assuming the stock market has a good year and doesn't collapse, you're looking at best 8-12% annual return. At 1k invested, that's about $100 a year, or about less than $10 a month. You're not making any extra cash at that rate.

[Lews Therin]

It seems you don't want to invest it in assets, and that's fine. I will only say if you DO change your mind and wanna invest it, don't go for crypto or other speculative nonsense, that's where they get your money, over 90% of those who invest with speculative purposes loses their money.

So, if for any reason at any point you decide to buy some assets, focus on buying stocks or reits (solid choice) that have profits and projected to maintain those profits in the long run. That's very important, focus on the long run, on you retirement. People who try to get rich fast with stock end up not getting rich at all.

That all said, i think that amount can really help you with your LP so you should focus on it. If you ever start getting more money than you need from it then you should think about assets. I think their main point isn't getting you rich, as mentioned, it is giving you safety. So if you ever get sick and can't work for a year or more you will have the passive income from you investments to maintain your standard of living.

Hope i helped, feel free to ask any question.

 

[meow_meow]

21 hours ago, aurum said:

But the stock market is a morally questionable place to invest.

If we would follow our discussion by assuming this principle we could easily lock the whole forum section regarding to money, because almost everything that is related to money is morally questionable.

[NatureB]

OP, how are you doing on this?

I am in a similar boat, thinking about becoming a meditaiton coach. I am going to apply the advice that another user gave for finding a mentor and studying under them.

[CultivateLove]

What RSD course did you spend 6k on?

[mmKay]

@CultivateLove mentoring and other online programs. 

@Lews Therin good advice, I'll keep it in mind. I'm not really worried about emergencies and retirement. I trust that by then I've build myself up to be quality human being who offers quality value and therefore swims in abundance. May be kind of careless but it rather just die at 70 if im still a manchild lol. 

 

@NatureB still working on it. Most likely it wont be a single teacher since i like to cherrypick from multiple sources. Basicslly the decisión would be if I'd want to invest in film / acting school for the networking and clear 123 formula aspect, but these with the power of the internet these days if I don't get somewhat decent it's entirely on my couch potato - stuck in comfort - undecided ass. 

 

Maybe someone here has gone through something similar in terms of investing into film director education or just winged the whole process / or knows someone who knows someone who went through this, or a channel that you reccomend, etc etc. 

[meow_meow]

3 hours ago, mmKay said:

Maybe someone here has gone through something similar in terms of investing into film director education or just winged the whole process / or knows someone who knows someone who went through this, or a channel that you reccomend, etc etc

Well there was this dude that we used to smoke weed with when we were younger, he was always into filming/film making etc.
Since I come from a relatively poor country it's a lot more harder to become famous when your comming from a shithole - anyways, the dude now has  a few movies that are even being shown to kids in school - he managed to get his fame.

How he started was actually very simple - they drove around the city and were just filming random events, sometimes they got a vid of a random fight, some random freaked out 'karen' etc .. then they started finding "Weird" people, and interviewing them, finally they made a documentary of a friend of ours that got addicted to heroin, and managed to get him clean while making a documentary out of it. I don't know if this helps, but I don't think he has any academic degree in film making.

[Hugo Oliveira]

Hey! I graduated in multimedia, today I work with motion graphics and do some videos as a hobby. But I ran a filmmaking business for a while.

People really need all kinds of videos. We produced for weddings but you can produce videoclips for example. You need to create a small portfolio/marketing (not a huge investment) them, when you got a client, you contract another videomakers freelancers (good ones) and direct them to make things according to your brand. It can be very artistic and fun. Of course, there is some stress in the process, but if you want it and enjoy the whole thing, it can be very good and you also can automatize a lot. Just contemplate well the idea (and the investment) if you decide to do something like this.

Another thing that maybe connects better with your case is to use your van to go out find stories and create independent documentaries haha not sure how you'll profit but you can find out. It seems to me like an exciting adventure and you can learn a lot and help people in a powerful way by sharing information.