My journey of becoming financial independence by 35 years old
It has been a busy week for me. One of my potential tenants decided to back out. So, I’ve been busy showing the house. I also have my guys painting the rotten windows boards. He told me some of the boards are too rotten to save, so he recommended another guy to do window wrapping. I had 30 windows wrapped for $750. He was going to charge $50 per window, so I saved 50%. $50 per window seems reasonable given that there were three men working from sun up to sun down. And from now on, I never have to pay money for painting the windows again as the materials are composite of aluminum and vinyl. It’s a cool process watching worn down windows turning into brand new looking ones.
I also coach soccer. Practice is twice a week. And the game is on Saturday morning. I didn’t have 7 kids for the first 2 practices, then on game day, they showed up and demanded to play. They messed up my offense and my defense. We lost 2-1. I was furious. 🙂
A good thing is that I learned a lot from the first game. I trained the best goal keeper. He made 7 or 8 saves. It was funny when he did exactly what I told him. It was a great feeling. I taught him how to approach the ball and demand that the opponent back off. I also taught him how to punch, catch, push, punt, and kick. He mastered all those skill very quickly. I told him “no loose ball, a ball in your hand is a goal saved”. We would have lost by a lot more if I didn’t spend the extra 10 minutes after practice to train him. It paid off very quickly.
That made me think, the extra time I spent training my goalie is like my side hustle. If I spend a little extra time, and I can get rewarded very handsomely. Side hustles can cut my time to FI by 5-10 years.
I also quickly improved my players’ Soccer IQs.I let them know what formation we should be playing earlier during the week and all of the passes and movements that they should be expecting. The boys always hog the football. By telling them to pass the ball, it put them in very favorable position to score. It is advantageous to pass. I can see them begin to trust their girl teammates. As a result, this weekend, we won 5-1. We should have crushed the other team even more. 🙂
It was cool when I get them to talk to each other. It was hard the first time. Then, by game time, I heard them yelling, “me, I’m open, here, pass, middle, switch, etc” hahaha, they made me so happy. Communication was key to our winning. I also assigned the girls to be captain, and co-captains.
Man, the parents started to bribe me by bringing a lot of snacks for the team. I felt the pressure, making sure I let their kids play. I made very smart substitutions, and I put the right kids in the right and natural positions. I let my strong players play all the time with very little rest. I sub the weak kids in and out, so everybody gets to play. Money and time earns a playing spot?! 🙂
I also trained the girl to do it right by keeping at it. Each time they lose the ball, they have to go after it. They started to hustle a little bit more. When we lead by a lot, I send my big tall guy to defend, send the girls up to attack. It was cool to see them work so hard when I gave them the opportunity. The kids are thrilled, the parents are happy, and my team won.
Talking about keeping at it, as you all know from previous posts, I am long on BAC and other financial companies as banking is one of the few sectors with a PE still around 10.
So I took advantage of the recent pull back, and I bought 200 shares of BAC at 15.6x. I will add $40 a year in dividend income. The company also announced $5.6 billion in stock buy back, so it will have some upside potential. The company is earning 28 cents per share in the 1st quarter. That means they are paying less than 20% on dividends. I believe they will increase the dividends after they concentrate the stocks.
To diversify, I’ve also added 20 shares of FOX at $32.60. This will add 6$ to my dividend payment. Fox owns fox TV, fox soccer, fox business, and 21st century production. They are making one of the most anticipated sequels Avatar. I love the Avatar 1, and they are making Avatar 2, and 3. Each one should produce $2-3 billions in revenue. Awhile back, Liquid at Freedomthirtyfiveblog.com was buying some movie production company, so I’ll been having my eye on entertainment sector for awhile.
Readers, it’s springtime, have you started that garden or doing any outdoor activities? Did you make any new buy recently?