Long Term Goals [Archive] - Website Publisher Forums

Cutter

10-24-2005, 08:43 PM

If you would have asked me a year ago, my 10 year goal was to have a net worth of $1 million. I know that is very achievable. In the last few months I've decided to kick the time frame on that goal up substantially.

I'd like to do some travelling. I have friends in different countries around the world and I just like visiting different places.

Oh yes, and get around to buying a Lamborghini Diablo and/or Pagani Zonda :cool:

Doug

10-24-2005, 09:44 PM

Prove everybody who says you can't make money with websites wrong. That's my long term goal. Oh yea, and buy a slurpee machine, those things are amazing.

deronsizemore

10-24-2005, 10:45 PM

Prove everybody who says you can't make money with websites wrong. That's my long term goal. Oh yea, and buy a slurpee machine, those things are amazing.

haha...yeah I need something to prove to my wife! I tell her all the time about some website ideas and she rolls her eyes so far into her head that I bet she's seen her brain on few occasions. She thinks what I do on the computer for hours on end is time wasted...hopefully one of these days I can prove her wrong.

Masetek

10-24-2005, 10:56 PM

Prove everybody who says you can't make money with websites wrong. That's my long term goal.

LOL, same here. Everyone I know except my GF and Brother think I'm wasting my time. I can't wait til Im earning more than them!

My goals are (in no particular order)...

Become a property tycoon
Earn 6 figures in a year
Earn 7 figures in a year
Buy a boat
Buy a house overlooking the beach - I can see the beach from here, but Im renting :(
Buy google (jokes...)

MarkB

10-25-2005, 01:27 AM

Same as you, John.

AndyH

10-25-2005, 01:52 AM

In 5 years I would like to have an office and employ 20 or more people ... and be able to pay them ;).

Todd W

10-25-2005, 02:20 AM

3-5 Years.

My personal income: $15,000 a month 3 years and by 5 $30,000
Own a house and some land.
Own a bunch of toys... I mean.. err add to my collection.
Pay-OFf my new truck soon hoping 1 year.

Not worry about SE updates or changes, have a sturdy visitorbase for all sites.

And by 2006 I will have over 20 off-road related sites running.

chromate

10-25-2005, 04:16 AM

By next month - stop being so lazy. ;)

1.5 Years - Now, here's what it comes down to... If I'm not earning what I consider a nice income (£50k+) in this time, purely from web publishing, I'm giving up. Seriously. Well what I mean is I'll be getting another full time job. I need to buy a house and I'm just not earning enough to do that at the moment.

3 Years - £8.5k/month (~$15k) net coming from multiple revenue streams (for security). So basically the same as Todd on this one :)

Beyond 3 years, it's hard to tell as things can change so much in that time.

r2d2

10-25-2005, 04:41 AM

1: By September 2006 I want to buy a house.
2: By June 2007 I want to be making over £2k/month from websites (bearing in mind I will be working full time till then, and am also doing a MSc part-time).
3: Early 2008 I want to buy another house, so I can then let out the old one. (As with others, I plan to become a property tycoon).
4: Before I'm 30 (Aug 2010), I plan to have (at least) 3 houses let out to people.
5: £100k/year by Aug 2010.

In contrast to John, and perhaps others, I feel I have too many long term goals. I think I need to start setting some shorter term ones, to help make progress in meeting the long termers.

John

10-25-2005, 05:39 AM

I don't need to be making an enormous amount of money from my websites, if I could get up to about $50,000/year I would be happy. In 3-4 years I will have enough savings from my job to be able to build a house of my own so I figure if I can get my web business doing $50K/year in 3-4 years I will be set.

Masetek

10-25-2005, 06:50 AM

So if all goes well, in 5-10 years time there'll be a bunch of high earning, property owning website publishers here! :D

John

10-25-2005, 06:53 AM

We already have 1, why not a few more? :) :) :)

Chris

10-25-2005, 07:21 AM

I want to build a castle in the mountains. Something 10,000 sqft plus. I'm guessing it'll cost between 3 and 5 million to build.

James

10-25-2005, 07:50 AM

Oh yes, and get around to buying a Lamborghini Diablo and/or Pagani Zonda
Nah, NSX with a carbon-fiber body on it, and either Tektronic shifters, or paddle shifters (Paddle shifting just looks so much damn fun!)

- Buy myself a car with my online profits, being able to pay for gas.
- Get a new computer (or two).
- Buy myself a good and decent bike.
- Have a gaming site which gets me spoon-fed like Emancipator :D.
- Egg Jesse's (Nintendo) house.

r2d2

10-25-2005, 07:55 AM

Ah yes, how could I forget the car!

Aston Martin (http://www.astonmartin.com/thecars/v12vanquishs) for me.

MarkB

10-25-2005, 08:35 AM

One that starts most of the time, for me!

Cutter

10-25-2005, 10:24 AM

I'd take the NSX as a daily driver ;) (to bad the insurance is just as much for an NSX as the Diablo.. don't know about the Zonda)

Just forget about what other people think or tell you about making money online.. unless they are doing it themselves.

Think about this, how else are you going to meet your financial goals? Top position at some company? For me that would mean long hours, doing lots of stuff I don't really enjoy, waiting a long time to get promoted (no guarantee there), and the posibility of getting laid off at any time for any reason. Even then, making $150k $200k a year is pretty much the top short of getting some MBA and working a really high-stress job.

If someone is already making money then they can give me suggestions about what I should do to make more money. If not, and they aren't a client or website user, I don't really care.

Ever see this poster? http://a1259.g.akamai.net/f/1259/5586/1d/images.art.com/images/PRODUCTS/large/10092000/10092590.jpg

Its a picture of a garage with 5 cars in it. A Ferrari, Porsche, Benz, Viper, Z8, and I think a Lamborghini in the driveway. (there is an older version of this poster with other cars in it.) The poster has the words "justification for higher education."

I pay close attention to how people got to where they are today. I can name several who have car collections bigger than this. Not a single one finished college (to be fair, some got there, but left once they saw the opportunities.)

That poster should say "justification for working your *** off when you aint earning sh*t" -- thats the one common theme for all of these guys. Even once they were doing well they kept working -- and putting money back into the business.

There is a guy on the Richdad.com forums named MichaelJohn. I believe he doess actually have a college degree, but was delivering pizzas and doing other odd jobs so he could run his businesses. All the while his college buddies were driving new cars and earning pretty good money. Today, about ten years later, he is a multi-millionaire -- his friends aren't.

thebillionaire

10-25-2005, 11:15 AM

yea, but guys I've noticed that in the last few months there has been a real pride in droping out, you guys are making the money but you shouldn't set the impression that if you drop out your going to be successful. Im still in high school and plan to go to university because I want to learn about business and computers, not because I want a degree to show off to people.

P.S that poster looks like its photoshop, but thats not the point. Im not really into sports car all that much, more into luxury, but man that house is awesome, and next to the water front

r2d2

10-25-2005, 11:45 AM

That poster should say "justification for working your *** off when you aint earning sh*t"

Or 'justification for learning how to park in your garage(s) properly'! Hehe :)

As I think Cutter said though - I think very few people could have the house & cars in the picture from a regular job. If they did, it would be a high stress, long hours, never see the wife/kids type job.

That picture looks more like something a business man would have.

Regarding the picture itself - it would seem its been updated from an old one:

old one (http://www.autotrend.com/pic/9211.jpg)
new one (http://www.acclaimposters.com/_gallery/large/10092590.jpg)

And there are quite a few different (poor) photoshop versions: http://images.google.co.uk/images?q=justification+for+higher+education&hl=en&btnG=Search+Images

moonshield

10-25-2005, 12:28 PM

On the topic of cars, I would like a Maybach or a Rolls Royce.... lol

Thats like 10 years out though ;)

I would like to own this 'home' also.
http://realestate.nytimes.com/+comshare/vulisting.asp?Lid=44-771303

Snowballer

10-25-2005, 12:46 PM

Hey Chris, what ever happend to that apartment building project you had? I remember you had a thread on it a few months back. Did you start the construction on that?

Chris

10-25-2005, 01:09 PM

Not yet. I still really want to do it, but it was always to be a project for next spring. I'm still gathering information and whatnot.

Mike Hunt

10-25-2005, 01:50 PM

I want to build a castle in the mountains. Something 10,000 sqft plus. I'm guessing it'll cost between 3 and 5 million to build.
When do you break ground? :p

Chris

10-25-2005, 02:04 PM

I'm hoping about 6 years.

Mike Hunt

10-25-2005, 02:09 PM

Since you're into LOTR, I bet you'd especially like Lord British's castle (http://www.klru.org/austinnow/archives/garriott/richard_garriott.asp).

Cutter

10-25-2005, 02:22 PM

Thats cool, Richard Garriott is one of my computer gaming idols.

r2d2

10-25-2005, 03:26 PM

On the topic of cars, I would like a Maybach or a Rolls Royce.... lol

I think you need a chauffeur too for this type of car :)

Cutter

10-25-2005, 05:24 PM

No chauffeur for this Rolls ;)
http://www.autoblog.com/entry/1234000177035326/

thebillionaire

10-25-2005, 05:36 PM

the maybach 52 doesnt require a chauffeur, the 62 model does I think

Masetek

10-25-2005, 05:42 PM

I think you need a chauffeur too for this type of car :)

...and if you have a chauffeur you gotta have a butler....

Emancipator

10-25-2005, 06:01 PM

my long term goal is to talk westech into buying me a nice spiffy car and James into driving it for me :P

John

10-25-2005, 07:41 PM

If I can get enough dough together to build my own house and then live comfortably from my websites I would be an extremely happy man. I would love to be able to work from home, run my own business, and have enough time to spend with my daughter. The next few years are going to be hard, I'll be working my *** off trying to get where I want to be but I hope it pays off.

Westech

10-25-2005, 08:21 PM

My long term goal is to talk Emancipator into designing one of his custom CMS systems for me. If I can ever get him to do that then I'll be able to make enough money to buy him his car! Until then he's gonna be stuck walking. :D

Kate

10-26-2005, 04:28 AM

By the end of this year - Have the new design + system of my punk site up.
By the middle of next year - Have 4 other sites I am working on completed and launched.
2 - 3 years - Make a profit of around $150 a month.
4 - 5 years - Hopefully be able to make the grades to get into medical school to study to become a doctor and study somewhere that isn't Canberra.
7 years (I'll be 21) - Buy a house.
:)

John

10-26-2005, 05:03 AM

I wouldn't mind getting a new Dodge Charger either :)

Billyray

10-26-2005, 06:10 AM

I pay close attention to how people got to where they are today. I can name several who have car collections bigger than this. Not a single one finished college (to be fair, some got there, but left once they saw the opportunities.)

Larry Ellison apparently agrees with you. The following is an excerpt purportly from a speech he gave to graduates at Yale.

"Because Bill Gates, richest man on the planet - for now, anyway - is a college dropout, and you are not. Because Paul Allen, the third richest man on the planet, dropped out of college, and you did not. And for good measure, because Michael Dell, No. 9 on the list and moving up fast, is a college dropout, and you, yet again, are not."

http://www.developer.com/net/vb/article.php/10926_1540171_5

I don't know if the speech is legit but I still love it anyway.

Cutter

10-26-2005, 09:24 PM

Too bad its not true :)
http://urbanlegends.about.com/library/blellison.htm

LuckyShima

10-26-2005, 11:59 PM

You don't need an education to get rich. But if you have an education there is no doubt that on average you are going to be much better off than someone who doesn't have one.

If I had a good chance at making big money (or even reasonable money) I would not waste time worrying about an education, but you have to remember you are gambling with a lot because if you don't make the money and you don't have an education you are not going to have a very pleasant life.

moonshield

10-27-2005, 12:22 AM

...and if you have a chauffeur you gotta have a butler....

I didn't say I did not want either of those. If you look at the link to the house (http://realestate.nytimes.com/+comshare/vulisting.asp?Lid=56-364979) ,you would see I would need the services of such people. :D

John

10-27-2005, 04:50 AM

School isn't going anywhere. If you have a chance to run with an idea, start a business, whatever, I'd say do it over school, you can go to college/university anytime but how often do good business ideas come along?

ogito

10-27-2005, 05:00 AM

yes, thats true John.. completely agree

deronsizemore

10-27-2005, 05:17 AM

Chris

10-27-2005, 05:20 AM

I say, keep going to school until you can afford not to.

John

10-27-2005, 05:27 AM

I think education is very important. Yes I know that as was said before Bill Gates droped out, Michael Dell dropped out, etc. Just because a few of the top 100 richest people in the world did and made it, doesn't mean everyone can. I mean for every person that doesn't go to college and strikes it rich with a good business idea there are thousands of others that try the same thing and fail. So you drop out of college, fail at your business idea, then what? I would think it would be pretty hard to find a job other then a fast food place with a resume that has education: dropped out. Experience: business venture that failed. :)

Why not go back to college? Start another business? I have 3 years of college and then I dropped out, the only thing that college is good for is the piece of paper you get at the end. Any person with half a brain could get the same amount of education you get at college just by reading the newspaper every day.

My point is if you have a business idea why not give it a try, whats the worst that can happen? Maybe it doesn't work out and then your in the same spot you're in today. I'd rather have a business that failed then have to deal with thinking about the "what ifs" for the rest of my life.

moonshield

10-27-2005, 06:04 AM

well... You do need a college degree for certain professions such as Law or Medicine.

lol.

IMO the key is not getting married and having commitments until you are absolutely sure you are where you want to be. It seems to be much harder to risk everything starting a business when you are trying to support a family.

I agree with what Chris said about staying in college until you can afford not to.

r2d2

10-27-2005, 10:51 AM

Yes, I think dropping out of college because people in the rich list dropped out of college is not a good idea. They're not rich because they dropped out of college, they had a great idea and took it forward, which unfortunately meant dropping out of college.

I have 3 years of college and then I dropped out, the only thing that college is good for is the piece of paper you get at the end.

Its also good for getting a well paid job with opportunities, rather than some dead end manual labour.

Any person with half a brain could get the same amount of education you get at college just by reading the newspaper every day.

'I read the paper every day' probably won't look as good on a job application as 'MBA' though...

John

10-27-2005, 11:12 AM

'I read the paper every day' probably won't look as good on a job application as 'MBA' though...

Thats why I said it's only good for the paper you get at the end. Don't get me wrong I left college because I had a better opportunity in the work industry, I'm not saying drop out of college and get rich. I just think that college holds people back sometimes, if you have nothing else going on then college probably would be your best option but if you have a great business idea don't put it on the back burner because you are in the middle of a degree. I don't know about the UK but in Canada right now a 4 year degree isn't worth very much.

James

10-27-2005, 11:16 AM

I'd say that piece of paper's worth the time, effort, and money. Even if it's just for something to fall back on.

And just because you're persuing a job which requires a college/university degree doesn't mean that you've got 'nothing going on'.

r2d2

10-27-2005, 11:43 AM

Don't get me wrong I left college because I had a better opportunity in the work industry, I'm not saying drop out of college and get rich. I just think that college holds people back sometimes, if you have nothing else going on then college probably would be your best option but if you have a great business idea don't put it on the back burner because you are in the middle of a degree.

Thats cool if you left because you had a better opportunity. Also, if someone has a good business idea then it may be worth leaving college. What I/we are saying is that the act of dropping out of college won't help at all - unless its because you have a great idea.

Cutter

10-27-2005, 11:57 AM

Thats why I said it's only good for the paper you get at the end. Don't get me wrong I left college because I had a better opportunity in the work industry, I'm not saying drop out of college and get rich. I just think that college holds people back sometimes, if you have nothing else going on then college probably would be your best option but if you have a great business idea don't put it on the back burner because you are in the middle of a degree. I don't know about the UK but in Canada right now a 4 year degree isn't worth very much.

I agree with you. I see a lot of college students settling for less. They are trying to find a job after college and they wouldn't even consider taking a minimum wage job while starting their own business. There is some kind of perception that making lots of money is an unreachable and unrealistic goal.

There is no doubt that there are certain things that you need a degree to get a job or even get a foot in the door. My point is that college isn't what ultimately determines success. This isn't really something I want to debate -- find out for yourself and talk to people who make 1,000,000+ a year.

deronsizemore

10-27-2005, 12:28 PM

the only thing that college is good for is the piece of paper you get at the end.

I agree with you to a certain extent. I have my Bachelors in Computer Info Systems and work in sales right now...so in that way college is worthless and currently even my peice of paper is trash cause it's not helping get a job. On the other hand, college gives you so much more than a peice of paper. You learn basically how to live and support yourself for the most part. Unless you are an extreme introvert, you should come out of college with a good network of people for possible future jobs, and better communication skills then you when into college with (which is essential nowdays in most jobs.)

I agree with Andrew also...just find out for yourself.

deronsizemore

10-27-2005, 12:31 PM

find out for yourself and talk to people who make 1,000,000+ a year.

Thing is I know about zero people making that much money a year currently. So I don't have much options in following in someones footsteps to get ahead of the money game.

moonshield

10-27-2005, 02:56 PM

I agree with you. I see a lot of college students settling for less. They are trying to find a job after college and they wouldn't even consider taking a minimum wage job while starting their own business. There is some kind of perception that making lots of money is an unreachable and unrealistic goal.

There is no doubt that there are certain things that you need a degree to get a job or even get a foot in the door. My point is that college isn't what ultimately determines success. This isn't really something I want to debate -- find out for yourself and talk to people who make 1,000,000+ a year.

Most BIG business founders outside of Tech have college degrees. Donald Trump has a degree in Entrepreneurship from Penn for example. Donald Trump makes a little more than 1,000,000 a year ($25,000 a minute on his TV series just for starters).

John Edwards from North Carolina is worth over $50,000,000 and he is an attorney. Starting up a law firm can certainly make you a great deal of money and you do need a college degree to that.

On the tech front, the founders of SAS and Google both have college degrees and are very educated in what they do. They are billionaires.

That said, you are right in saying that college does not determine success.

The key is working for yourself. Setting your own terms.

r2d2

10-27-2005, 03:11 PM

I think we have established there is really no link between going to college and becoming rich.

I think we have agreed though that staying as an employee your whole life will not make you rich - the best way to get properly rich is to start a business.

mini

10-27-2005, 06:50 PM

When I graduated from an IT degree, it's almost impossible to get a job not to mention earning a $40K job. IT industries are dead so your degrees mean nothing when you have thousands of people who have it.

My first base salary was AUD$36K which is about USD$55K. After two years of realising you have to be a niche in what you're doing, I moved to my current company where I get to earn a 6 figures salary with lots of opportunity to travel! I considered myself very lucky compare to my peers.

I'm still in the IT but doing not so much on labouring job (i.e. programming or IT supports). My current job's consulting and still involve a bit of intense programming once in a while. If I can turn back the time, I'll do finance because I love investing money and shares and would love to learn more than a hobby.

Working for someone VS working for yourself, regardless how much you earn, you still need to enjoy the job. In our company, earning 6 figures are common. You dont have to be the boss or in management position. We get bonuses and travels every year overseas for meeting sales and services target. A lot of them own lots of houses and porsches. On the other hand, my boyfriend does not like to talk to a lot of people, therefore his web publishing job or working for himself are perfect. I'm sure I'll be jealous of him one day if we ever get married and have kids because he'll get to spend more time with them hehehe....