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Mad money

January 3rd, 2010 at 03:02 am

So it turned out that I don't really have to shoulder that large monthly bill by myself after all. I got a year worth of prepaid rent on half the bill, with the future contingent on my own financial health. Whew! First thing I did was to put them all into my IRA and max it out for the year Stick Out Tongue Pay myself first a motto I follow quite diligently.

I also feel sufficiently stable enough at this point to be able to set aside some money for fun. No, not spending fun, but investing fun. Alright, more like gambling fun. I've thought about this mad money portion for several years now and followed several businesses I like as a simulation. I haven't seriously looked into a discount brokerage firm before because as a predetermined percentage of my assets, the Mad Money fund was pitiful. At this point though, a success would generate enough, after fees, to make it worth my time. Loss is expected, so it's not a factor.

Been contemplate venturing into the operating side of business lately. It has been looking quite appealing, especially now that I have the flexibility to accommodate its demand. Although, the brief glimpse I had of the enormous amount of effort going into it and the ridiculous low chance of it succeeding has dampened my motivation somewhat. I'll just let it stew for a few more years while I work out all the technicalities.

For now I should just focus on the CPA review book that just came in. Ah, Auditing and Attestation, how I detest thee. Seriously, out of all my classes, financial audit has been the most dull. I wonder if everyone else think the same way as attested by the fact that this book became available while my positions on the wait list for REG and FAR haven't changed for the past 3 months.

1 Responses to “Mad money”

  1. Jerry Says:

    What kind of business were you looking at operating? The amount of time requirement (let alone the profits) that it leads to will vary considerably depending on what you are doing. If you can find one with some insurance of a reliable business plan, and one with a replicable path to success, you could be in a good place. Good luck!
    Jerry

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