Many want to take their life, finances, current situation to the next level. Some have a vision of what that is, even fewer have a game plan to get themselves there. I will share with you today my vision and how I intend to get there.
So, as we speak I am 22 years old pursuing a bachelor’s in mechanical engineering and engineering management. I have a net worth around $18,000 through mainly my co-op and internship salaries. I will graduate college in May of 2019 and take on the real world.
This is always a hard question to articulate and put into words which is why few people get this far. Think about it, when was the last time you sat down and figured out where you want to go in life. Some may have small goals like I want to drive a Ferrari or a Lamborghini but what about the BIG goal.
I would like to first buy my parent’s the lake house of their dreams on table rock lake. My mom and dad have provided for me all their life it is my obligation to give back to them. My dad would like the top of the line jet ski and a nice boat, my mom would be happy with a home that looked like it came out of better homes and gardens, a nice greenhouse and an abundance of grandchildren. My mom is going to have to wait on the later, but my brother may be able to help me out with that one. That is my first and foremost goal.
Second, I would like to give back to the people and organizations that made me who I am today, my wrestling program in high school, my rugby program in both high school and college, and my fraternity to name a few.
Third, is an obvious one but I think it should be said, to provide for those around me. I am going to assume at this stage in my life I have others to take care of other than myself, maybe a girlfriend, or a fiancé or a wife maybe kids the timeline of this one is foggy. My dad made it a goal to give my brother and I everything he ever wanted when he was a kid and to provide more than his parents could for him and I would also like to do the same to my loved ones. My dad did set the bar high on this one so I look forward to the challenge.
Fourth, financial freedom. There is an unbelievable amount of people in the United States that live paycheck to paycheck and I remember my parent’s doing the same at times. I don’t ever want to live a life like that.
Fifth, to help those less fortunate than me, I already practiced this when I was younger and currenly. I am aware I’ve had experiences that many have not or will not be able to have in their lives and I would like to the share that with all those that I can.
So Mr. B^2, how on earth do you plan to do all of this?
That’s a good question isn’t it, when it’s all laid out like that its hard to fathom that kind of success.
First step would be to graduate obviously, I have spent years in education and lots of money has been spent on me to get to where I am so obviously finishing what I started is a good place to begin. I would like to graduate with a 3.25 GPA currently at a 3.16 as of this semester.
Second, I would like to walk out of this university making $80,000 which I believe is a lofty but possible goal and with my skill sets, education and past experience I believe this is within my reach.
Third, using that money, and the money from my investments, and what not buy investment properties and other passive income sources. How many and of what kind I am not sure, but an investment property in my college town would be a good start I feel and from there only grow and expand my horizon as I move and travel. This could also be a side business that I develop to generate more revenue to acquire these properties and make more investments.
Fourth, rinse and repeat over and over and over again. That in combination with my strong work ethic and developed leadership skills should put me in a position to move up the corporate ladder or start my own business or something of that sort. Not sure where I’m going but I’m going for it all.
With all of that said I would like to attain a net worth north of $3 million before I am 30 years old. I understand that is going to be extremely difficult but nothing of such high aspirations comes easy and I believe what I am doing now is laying a solid foundation for what I plan to do in the future and the fact that I already have the vision and the majority of the game plan is evident that I am already on my way.
As always let me know what you think, even if you think I am blowing smoke up my own ass I’d like to know what you think!
As some of you may know if you follow my Instagram account (bsquared.website) I am heavily involved in my fraternity and was the head philanthropy chair this academic school year. Fortunately, I survived the hectic week and came out the other side with ideas and suggestions to improve our philanthropy efforts for the years to come.
I was elected head philanthropy chair a year ago with two assistants at my side, several things happened that caused my assistants to drop the position or get pulled out of the position, but I ended with Dalton and Drew at my side by the end of it. We decided our goal was to raise $10,000 for Huntsman Cancer Foundation, Sigma Chi’s official philanthropy. This was an extremely ambitious goal considering our previous best was about $5,300 raised. We also had to revamp the whole Derby Days week to make it more competitive between the participating sororities and women’s organizations and try to incorporate new events into the week. Our first step in the revamp was to collect information from the previous year, we needed to know what everyone liked, disliked, what they were not allowed to do due to national’s rules etc. While there was some effort in the past to gather feedback about the previous years events we took it to a new level and made sure everyone’s voice was heard and tailored the week-long competition to allow everyone to compete on a level playing field.
We added an event in the Fall semester of 2017, known as Brats ‘n tots. Just as the name suggests it was a food fundraiser hosted at the fraternity house featuring premium brats and unlimited tater tots. This turned out to be our most profitable food fundraiser to date and raised over $500 in profit. Mind you that at that point we had never done a food fundraiser let alone hosted one. This was an incredible success but of course there were hiccups and ways to improve for the next year, as with anything the first time is always difficult, and we will get to a failure at a first-time event here soon.
Brats ‘n tots serving crew
Next event we added to the line up was what we are going to coin as Dead Week Wendy’s, again as the name suggests it’s a food fundraiser at Wendy’s during dead week which is commonly known as the week prior to finals at my university. Unfortunately, we register the event early enough and it was pushed back to the Wednesday of finals week which wasn’t the most optimal timing. Despite that issue we still managed to raise $113 from the event mainly due to the high % of proceeds donated (30% of revenue for that night with the flyer we promoted).
Next new event on the calendar was a similar food fundraiser just at Buffalo Wild Wings which we also did in conjunction with a recruitment dinner at BWW. In the past we would always take some potential new members to BWW for dinner during the recruiting process and we decided to piggy back that event with a food fundraiser. A two birds one stone situation which you will see come up again in this overview. With this event we raised $212 or so, we were better able to promote this event having learned from our mistakes with the Wendy’s fundraiser, it also helped that BWW has a higher average ticket price than Wendy’s despite a lower % donated but still a solid 20% excluding sales in alcohol or gift cards.
At this point my committee and I were feeling like we were doing well at just shy of $1,000 raised before getting to the philanthropy week. We had the strongest start of any Derby Days committee to date, but our success wouldn’t last long. Our spring semester is quite busy with our huge St. Pat’s celebration, Spring break, spring career fair, Greek sing and various other events happening. In addition to being bogged down in other school and fraternity related activities we were also running into bad luck with our women’s organizations. Two organizations of our smaller women’s organizations declined to participate in our week-long competition due to the time commitment, even after offering to combine the two to give them more people to work with. We also had a large sorority that has failed to participate fully in the past three years decline us again despite our massive effort to accommodate and inform them. In hindsight we could have done more to inform them and attempt to get them more involved but again our schedules were packed. Those were some large blows to our committees moral since in addition to our monetary goal we also wanted to maximize participation across the board.
Despite the setbacks we continued to push forward and do what we could to redeem ourselves, but the bad luck and poor execution continued to disrupt our previous successes. I had assigned an assistant to obtaining t-shirt sponsors, thinking he was the best man for the job. Well about 2 days before spring break at our weekly meeting I realized that we had maybe 2 of the 9 t-shirt sponsors we were going for with no contact established with other potential clients. The t-shirt design was due the Monday we returned to school and seeing as we were running out of time and options for obtaining sponsors I took it upon myself to execute the task. I spent the better part of my Friday and Saturday going into the Spring break talking to local businesses to obtain sponsors. I then came back to town for 2 days to further confirm sponsors and attempt to obtain more. Luckily, we ended with our goal number of sponsors but the way we had to reach that goal was far from optimal. The opportunity cost of my time and travel expenses to finish the job took quite a toll on me mentally and to my external efforts to succeed such as this blog and my investments. Anyhow that small crisis was adverted or was it?
Cheesin through it
That’s right! When it rains it pours and oh did it pour. We were having issues with liaisons knowing what to do and getting their organization to participate, we got the t-shirt order in late, we over ordered the koozies and then they had a printing error that forced us to have them reprinted and took more time than we anticipated. We got the wrong shirts printed, we did not get the number of orders we anticipated. Issue after issue kept coming up and this was before we even got the philanthropy week underway, this was just the prep work!
We had another new event to kick off the week, it was a gala at a local event/banquet center. Not only did we not get our first or second choice for venue, but we also were lied to on price, overestimated our attendance, therefore over estimating the needed food, and the event turned it into a very dismal sight. All in all, we lost about $400 on that event and rattled us all. It was under advertised, overestimated, not well defined, and did not serve a strong purpose or give a strong reason for people to be there. The idea should have probably been scraped but we decided to follow through with it anyhow. Perhaps next year they can bring it back and turn it into a successful event but until then despite what my peers said and how successful they thought it was I’ll chalk that one up as an L.
Pie-a-Sigma Chi featuring my temporary mohawk
Moving onto the actual week of Derby Days it went relatively well. Events ran smooth, the new point distribution kept the competition tight until the final event, it did take some extra effort on my part. My two assistants did not live in the fraternity house, so they would leave and go home after the last event of the day or stick around for a little bit to help, but I would be up till midnight-4am to ensure everything was taken care of and ready for the next day of events. It wasn’t always necessary for me to stay up that late and what not, but I felt the extra effort I put in made the week go a little smoother, so it was worth it even if I am bitching about it now. We had several new events including, Amazing race, cooler design, sell-a-Sig, and a drag show. They all went well for the most part and little kinks and issues will get worked out next year.
We finished the week with Delta Omicron Lambda winning for the 4th year in a row. Congratulations to them however I think moving forward it may discourage other teams from trying to participate to take down the reigning champs. At the current moment we raised $3800 including all expenses, not including the 20% payout to the winning organization. This is far far far below what we wanted to raise. We diligently tracked our expenses and revenue for every event and hopefully we can analyze those results to determine what actions are necessary to increase what we raise. We still do have one event to go.
Alex’s pizza is a pizza parlor in town, we always go there after initiation and treat the alumni (I should really say the alumni treat us) to some pizza and adult beverages. As I mentioned in the sneak preview before, I am all about hitting two birds with one stone and making the most effective and efficient events possible, and that is exactly what we intend to do. Since we go to Alex’s pizza once a semester, after initiation then why not host a food fundraiser there while the alumni are paying the bill for it all. So, with that in mind we will get a nice 20% cut of the revenue for that day most of which will consist of our 50-person group’s order, but I am sure we will also get some friends to and other students to come celebrate our new initiates with us.
My committee and I are currently writing up an official transfer document, so the next committee can learn from our mistakes, this is also something new we are trying. Overall I can say that while we did not reach our target we did a lot of new things and took some risks and some paid off and others did not, but the group after us will have all the tools and knowledge at their disposal to reach our $10,000 goal and shed a new light on our philanthropy, social and brotherhood aspects of the fraternity.
To those who are involved in philanthropy or want to be involved in philanthropy and have questions please let me know. I have learned a lot from this position and would love to help anyone who wants to make a difference just like I wanted to make a difference when taking the committee position.
Hey how’s it going everyone hope you all are well. I just wanted to give a quick update on what is going on with my life right now. If you’ve been keeping up with the biweekly goal analysis you know it’s been a crazy couple week and I’ve been super busy. I can say nothing has changed on that front, I am in the middle of our big St. Pat’s party week right now, followed by a hard week of school with tests and then spring break. From then on, it’s still going to be a wild ride to the end of the semester. Because of this I’ve been putting the blog and Instagram on the back burner for a little bit. I was consistently working 16-18 hours a day between school, fraternity, philanthropy, rugby, and my personal endeavors and it was slowly killing me. Soon I plan to refocus my Instagram efforts and get the blog some better tools retain my audience (mailing list, email newsletters, more Facebook ads etc.) but I simply do not have the time to make that commitment all the way. On a positive note I have an internship more or less locked down for this upcoming summer its actually a sales position which is very different from what I am use to or expected to do, but the experience and income should be very beneficial. I think the unique schedule I will be working will also help with this blog, and my other endeavors so hopefully that leads to some explosive growth this summer. I was also considering changing the focus of the blog entirely, as it sits now its me sharing my financial journey, but I guess it’s boring right now to be frank. I’m not making many moves right now since I haven’t had any income since August. I am reading books and learning about successful people and how to be successful and am reading a lot of motivational content so maybe that may be a temporary route I go. As I said above its been busy and we are in a holding pattern right now so hold tight while I get my life together.
If you have any suggestions, ideas, content to talk about, or products to aid in some of my problems stated above let me know!
So I actually had this post written and ready to be sent on Saturday, but then Jetpack crashed and I lost the post because I didn’t save it and it was just a mess. But we are back up and running now so moving forward, February should be an awesome month for me. This blog was started in late November, did not have much success with it in November or December. Its the tail end of January and as I write this I’ve had 125 views and 75+ visitors! My Instagram account @bsquared.website was started in early January and has been picking up momentum. I’ve been experimenting with Facebook and Instagram ads and I think I just found winner!
In summation, January has been all about laying the foundation for what is to come. I’ve been pushing myself really hard in terms of school work, fraternity obligations, and all my side endeavors including this blog. I believe February will be the month to capitalize on the work that has been put in during January.
Only time will tell though, expect a lot more to come including book reviews, portfolio overviews, dividend updates, stock market moves I’m making, and a Lyft and/or drop shipping guide.