120k a year isn’t enough

#251
#251
NEO said:
Strip clubs are the largest return on investment period as long as you can completely flush your morality down the drain and wipe every bit of humanity away from yourself.

We ran about 100 girls on the weekends. Most people don’t know this but the girls are 1099 and pay a flat fee to work each night and then also must cut the club a portion of their tips, say 60/40. So you are clearly on average 500 per girl.

Plus the club has hardly any other payroll as the bouncers are paid out from the strippers and the waitresses are wait rate.


So you are making money on alcohol plus you are selling 16.99 bottles for 150 bucks in the champagne room and you are getting uptime every hour (40 bucks for two dances) and about half the girls tips.

We were clearing 65k to 85k a night on Thursday through Saturday and 25k to 40k the rest. Club was profiting damn near 5 million after overhead and the only real expense was lights and electric.

But….it will totally screw your sex life up and f your head up…..so there is a down side.
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Drugs offer a better return, but I guess you could also sell those to your strippers
 
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#258
#258
ClearwaterVol said:
If the bottom line is the same they tend to collect bonuses. So, you may want to slow down a bit
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You need to just come to a complete stop because there doesn’t appear to be a slow, slow enough for you. Bonuses generally have a range, if you don’t do as well, then you get the lower range or none at all.
 
#259
#259
allvol123 said:
You need to just come to a complete stop because there doesn’t appear to be a slow, slow enough for you. Bonuses generally have a range, if you don’t do as well, then you get the lower range or none at all.
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I am done because your reading comprehension is nil.
 
#263
#263
McDad said:
Some of you grew up during a different time. Your parents put faith in a company. Back then a person hired on and was discouraged to job shop with other companies. The company provided a pension.
My generation were told to hop around employment to advance quickly and build a resume of experiences. Told to chose 401k and IRA instead of pensions.
I was encouraged to work for myself. Better to put my future in my hands instead in the hands of others.
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Depends on the companies and your skill set and where you rank compared to your peers with your skill set/education/experience.
 
#264
#264
McDad said:
No worries.

I am starting a transition to commercial property so maybe that will buy me a few more years of independence.
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You have the right idea with real estate in general. My wife HATES it, so unfortunately it isn't an option for me. I want to buy it with my ROTH and plow all the earnings back into that tax free... but she wouldn't be happy, so I lose.
 
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#265
#265
SpaceCoastVol said:
You have the right idea with real estate in general. My wife HATES it, so unfortunately it isn't an option for me. I want to buy it with my ROTH and plow all the earnings back into that tax free... but she wouldn't be happy, so I lose.
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It isn't for everyone. I'm surprised mrs. Scv has such disdain for it.
What's her gripe?
 
#267
#267
SpaceCoastVol said:
She is afraid of the hassle of collecting rent and fixing stuff that breaks.
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Use a property management company or hire someone. Once you have a few, the cost begin to get spread out so it effects the margins less.

I live 400 miles away from every property I own. I do stay in Columbus about 3 months out of the year but that is totally do to my second office there and has nothing to do with the properties.


They check on the roof, mow the grass, fix the lights, change the batteries in the smoke detectors and collect rent for me via their website or mail in payments. They then send me an invoice each month and at the end of the year which I then hand to my accountant for taxes.

I haven’t even known who my tenants are for years.
 
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#268
#268
Vol8188 said:
Surely you’re not naive enough to believe they put in 40 hour weeks to get to that point, are you?

80 hour work weeks as medical residence aren’t uncommon at all and given how competitive high paying specialities are to get into, they were likely putting in 80 hour weeks of studying during med school
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As a 4th year medical student applying to residencies, I am well aware.
 
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