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Mom doesnt support my goal of being a small business owner

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Texasmoneyman300
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Yesterday, 7:19 pm

There is also a chance my business will be starting a trucking company in the oilfield or waste disposal.



Texasmoneyman300
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Today, 4:34 am

uncommondenominator wrote:
My friend, I don't think your mother is opposed to businesses in general engaging in the act of hiring employees - I think she doesn't think YOU should be hiring employees.

Thanks for calling me friend.There is a good chance my business wont need W2 employees.



BTDT
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Today, 5:23 am

Is it worth risking bankruptcy and starting over from zero if the business fails.
https://www.pendergraftsimon.com/blog/2 ... eir-hands/
In any case, a business model that looked viable a few months before suddenly may have stopped working. Without money coming in, a business could be forced to declare bankruptcy, even if the owners had not made a single mistake.

Or should you just take the sure thing and live off your trust fund?

I had a similar situation when I suffered a stroke. I had my forty quarters for social security disability.
As well as job that paid well.
Strokes are slam dunk cases for getting on disability when you can't walk.
I could have just gone on disability and collected a nice disability check and lived in a good apartment.

Instead I worked really hard to walk again. Now I'm retired, living in a nice house, and walk the golf course three times a week!



Texasmoneyman300
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Today, 8:33 am

BTDT wrote:
Is it worth risking bankruptcy and starting over from zero if the business fails.
https://www.pendergraftsimon.com/blog/2 ... eir-hands/
In any case, a business model that looked viable a few months before suddenly may have stopped working. Without money coming in, a business could be forced to declare bankruptcy, even if the owners had not made a single mistake.

Or should you just take the sure thing and live off your trust fund?

I had a similar situation when I suffered a stroke. I had my forty quarters for social security disability.
As well as job that paid well.
Strokes are slam dunk cases for getting on disability when you can't walk.
I could have just gone on disability and collected a nice disability check and lived in a good apartment.

Instead I worked really hard to walk again. Now I'm retired, living in a nice house, and walk the golf course three times a week!

I am willing to declare corporate bankruptcy but I would not be personally liable for the debt anyways. Right now I live off my disability check and will live off the trust fund after my parents go. But a big reason why i want to do something with my life is I want to have a purpose besides being a trust fund baby. Like I want to have a career not just be a trust kid. I want to make something of my life. I have not decided on a business model yet. i am still exploring my options. I am willing to declare personal bankruptcy if I have to. The trust fund would not be affected I dont think.I wouldnt call the trust fund a sure thing because you can never count on inheritance.



Sweetleaf
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Today, 9:35 am

Texasmoneyman300 wrote:
BTDT wrote:
Is it worth risking bankruptcy and starting over from zero if the business fails.
https://www.pendergraftsimon.com/blog/2 ... eir-hands/
In any case, a business model that looked viable a few months before suddenly may have stopped working. Without money coming in, a business could be forced to declare bankruptcy, even if the owners had not made a single mistake.

Or should you just take the sure thing and live off your trust fund?

I had a similar situation when I suffered a stroke. I had my forty quarters for social security disability.
As well as job that paid well.
Strokes are slam dunk cases for getting on disability when you can't walk.
I could have just gone on disability and collected a nice disability check and lived in a good apartment.

Instead I worked really hard to walk again. Now I'm retired, living in a nice house, and walk the golf course three times a week!

I am willing to declare corporate bankruptcy but I would not be personally liable for the debt anyways. Right now I live off my disability check and will live off the trust fund after my parents go. But a big reason why i want to do something with my life is I want to have a purpose besides being a trust fund baby. Like I want to have a career not just be a trust kid. I want to make something of my life. I have not decided on a business model yet. i am still exploring my options. I am willing to declare personal bankruptcy if I have to. The trust fund would not be affected I dont think.I wouldnt call the trust fund a sure thing because you can never count on inheritance.


If you are on disability, there is subsidized housing and other housing help...so in theory you could look into that and move out to pursue what you want. There is also help for disabled people to get into careers, so you don't necessarily need your parents to house you and manage your life for you.


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Texasmoneyman300
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Today, 9:53 am

Sweetleaf wrote:
Texasmoneyman300 wrote:
BTDT wrote:
Is it worth risking bankruptcy and starting over from zero if the business fails.
https://www.pendergraftsimon.com/blog/2 ... eir-hands/
In any case, a business model that looked viable a few months before suddenly may have stopped working. Without money coming in, a business could be forced to declare bankruptcy, even if the owners had not made a single mistake.

Or should you just take the sure thing and live off your trust fund?

I had a similar situation when I suffered a stroke. I had my forty quarters for social security disability.
As well as job that paid well.
Strokes are slam dunk cases for getting on disability when you can't walk.
I could have just gone on disability and collected a nice disability check and lived in a good apartment.

Instead I worked really hard to walk again. Now I'm retired, living in a nice house, and walk the golf course three times a week!

I am willing to declare corporate bankruptcy but I would not be personally liable for the debt anyways. Right now I live off my disability check and will live off the trust fund after my parents go. But a big reason why i want to do something with my life is I want to have a purpose besides being a trust fund baby. Like I want to have a career not just be a trust kid. I want to make something of my life. I have not decided on a business model yet. i am still exploring my options. I am willing to declare personal bankruptcy if I have to. The trust fund would not be affected I dont think.I wouldnt call the trust fund a sure thing because you can never count on inheritance.


If you are on disability, there is subsidized housing and other housing help...so in theory you could look into that and move out to pursue what you want. There is also help for disabled people to get into careers, so you don't necessarily need your parents to house you and manage your life for you.

well the help just isnt in Texas for the most part for people like me. we are still trying to get me into a career but its a long process with no promises.My mom just wants me to be a greeter at Walmart which i dont understand since she paid for me to get multiple college degrees.