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My Engineering Job
I started as many before me started, an engineer. I had a
good
engineering job with a Fortune 500 company with good benefits and
modest pay. If the story ended there I promise you I would not be
the Rich Engineer. What I began to find out is that my good
engineering job just wasn't enough. I seemed to find more things
to spend my money on, which left less money to invest. After a
nice car, nice house, motorcycle, etc., I was all tapped out.
In less than two short years I have found myself trapped in my
engineering job that I did not like and in so much debt I had to keep
my engineering job. This is what it looked like.
This is how the Rich
Engineer started:
1. Get a good
education...Mechanical Engineering.
2. Get a good
engineering job with a Fortune 500 Company.
3. Save money
and invest when possible. Max out 401K.
4. Almost no net income every month.
To
put it another way I was using the money from my Engineering Job to pay
my debt first and pay me last.
After taking a look at my situation I realized that I needed to
change. Though I had a top notch education, it did not focus on
the real things I would face in life when it came to money. I
needed to educate myself about personal finance and investing.
I wanted to use my engineering education and
engineering job to get out of debt and earn a better living.
So
up to this point the I had gone to school to get an
education so I could get a good engineering job, so I could be a good
engineering employee. What I actually became was a slave to my
engineering job because I
was knee deep in debt. Any disposable income I had, I spent on
things that either depreciated in value or had no value at all. I
used the same tactics and work ethic that got me through college and
applied them to learning about investing and personal finance.
I call it engineering finance. This site is basically a
brief overview of how I learned all the
things that I didn't to learn in school. Also how I
applied my new found knowledge to create assets that generate cashflow
instead of require cashflow.
What I am writing about is not a
get rich quick scheme or program, but a way to turn your engineering
job into an into wealth, not debt. This site
is broken up into three main parts.
First The Asset Machine.
This is my investment strategy that was developed from
many years investing.
Second is Creating Assets.
I discuss one of my most successful assets that I created to
generate consistent cashflow while working at my engineering job.
Last is Asset Protection.
I bring this up because anything that generates money is open to
people trying to take it from you. This is probably the most
important topic when it comes to wealth building.
So
first things first. It takes capital (cash) to invest and create
assets. I chose to use the money from my engineering job to
create assets, but that is not necessary. Basically you don't
need to be an engineer with an engineering job to do what I do to build
wealth.
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