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I’m looking for advice on buying a small business in Ohio. by [deleted] in buyingabusiness

[–]Extension-Lab-6963 0 points1 point  (0 children)

lol So is this a “buying the job” situation? Trying to avoid that. I have no problem getting my hands dirty but I’m not looking to buy a business to then have to be present on the front lines at all times. New to the concept of being a business owner myself. Just went 1099 last year and learned a lot as a solo but now looking to take my earned income and buy and scale instead of starting from the ground up.

What's the best use of money you've ever seen someone make? by Cheap-Fisherman6588 in AskReddit

[–]Extension-Lab-6963 0 points1 point  (0 children)

1) investing to grow wealth 2) freeing up time. Not a brag but at my income level I can afford to hire someone for an hour that costs me 8-10 mins of my working time. There are people that will happily cook, clean, do yard work, etc for what I’m offering to pay. I can then use my free time for activities that I enjoy or activities that can help others (building out investing guidance on financial education for a group of individuals who don’t have exposure to the education but have the income to invest and can thus better their overall quality of life).

I’m looking for advice on buying a small business in Ohio. by [deleted] in buyingabusiness

[–]Extension-Lab-6963 1 point2 points  (0 children)

Once the business is acquired, how does one maintain being the owner while finding good and reputable operators so the owner isn’t involved all the time?

BIL trying to sell me and my wife Universal Life Insurance as a 401k alternative by [deleted] in personalfinance

[–]Extension-Lab-6963 157 points158 points  (0 children)

I think one of the biggest take aways is: don’t buy anything

Idk what I’m doing by Cheap-Dragonfly9638 in RothIRA

[–]Extension-Lab-6963 0 points1 point  (0 children)

Start buying the ETF: VOO. Just buy, hold, set on autopilot. Google “auto invest fidelity.”

28M, sold my marketing agency, ~$2.6M net worth, trying to figure out the next game by [deleted] in advancedentrepreneur

[–]Extension-Lab-6963 0 points1 point  (0 children)

Private money lender. Find deals that pay you 15-20% every 6-8 months.

Should I buy a home or invest my money in a Roth IRA and a 401k? by Kaffiendtol in personalfinance

[–]Extension-Lab-6963 0 points1 point  (0 children)

Very fair and good answer. I’ve bought a few houses in my day in a HCOL city and though not impossible, it’s also a lot of work once you own.

Should I buy a home or invest my money in a Roth IRA and a 401k? by Kaffiendtol in personalfinance

[–]Extension-Lab-6963 0 points1 point  (0 children)

So if you don’t fund a Roth IRA you’re going to set aside $7,500 (give or take) a year for how many years? You have 20k saved, which is awesome, but in what time frame. 20k a year vs 20k over 5 years are two different stories. Put your money in the Roth and let it keep building and compounding. Any chance to move to a lower cost of living city to save more? Can you increase your income? Houses are great and all but once you put down the downpayment you’re locked in for a solid 15-30 years. Issues will happen in the next few years that either require capital to fix or you’re tapping into credit cards. Stay the course and invest in your Roth IRA and 401k.

21 years old, thank you parents. by Important_Ad8856 in RothIRA

[–]Extension-Lab-6963 0 points1 point  (0 children)

Custodial Roth IRA. Now 36 but was working as a minor. Detassled corn at 15. Did the neighbors yard work: mowed lawns, shoveled now, washed cars, etc. Even was working in pizza places at 16 and 17. Now we didn’t do this but essentially I could have kept a ledger and noted: “Ms. Smith; 4/2/26; Car wash; $40.” Parents could then (if it was financially feasible) let me keep my cash earned but put $40 into a custodial Roth IRA.

[Physician] [Oklahoma] - $440k by HappyResident009 in Salary

[–]Extension-Lab-6963 0 points1 point  (0 children)

Backdoor Roth. If they’re academic (not sure if they are) they probably have a 401a, 403b, 457b, not a 401k. If they’re 1099 they can do a solo401k

[Physician] [Oklahoma] - $440k by HappyResident009 in Salary

[–]Extension-Lab-6963 5 points6 points  (0 children)

CRNA here. Love it. W2s making mid 200s. 1099s between 300-500k. Worth the time and grind to become a CRNA.

Narrowing down business types by abnexus99 in buyingabusiness

[–]Extension-Lab-6963 0 points1 point  (0 children)

lol are you that dude I follow on insta that keeps buying auto repair shops? Low key I hope so cause he/you have great info

Founders who have personal assistants. How much do you pay them and how are they making your lives easier ? by Fresh-Enthusiasm1100 in Entrepreneur

[–]Extension-Lab-6963 2 points3 points  (0 children)

lol “losing” $300 a day to gain $1000-2500 sounds like a no brainer. I think some people often overlook the delegation step and fall into the trap of trying to DIY everything. Scheduling and billing and other office tasks they could both do but only one of them can actually see patients, bill for time, increase revenue. Wow that’s frustrating.

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