Introduction and a question

[p31]

Hi,

After reading and re-reading The Millionaire Fastlane ,
and after lurking around the forum for a long time,
I'm finally coyly posting a question I'm hoping experienced/aspiring members of the forum would give guidance.

My questions are :

1. What type of business model are zero-to-none expense (in terms of funds)?
2. I have to make time to teach myself about Data Science to make myself more valuable in my current company. But I also have to strategize myself to solve my student loan payment problem, and the need to make extra side income. I don't know how to chase two things at once.

And now for the explanation of my first question:

So, a new year. I just took inventory of my financial situation, what with massive amounts of student loans. Wow, not looking too good. At age 50 I'd still have mid-six figures of student loan (grad school but led to nowhere).

It seems my line of monthly student loan payment is at $1047 minimum, in order for it to actually stop it from growing. I'm paying $400 per month now. I can manage that with my low salary. I'm on PAYE plan, meaning after 20~25 years I get what's left of my loan forgiven, and I'd be subject to income tax on the forgiven amount.

I have two choices to make myself at least not a financial burden to everyone around me:

• 1) Pay it down, get a higher paying job, be an employee until 50, 60 years old, raise monthly contribution to $3000 plus. Live frugal. Maybe give up marriage.
  
  
• 2) LEARN by creating side income by starting a business of sorts to pay the extra $600 or so.
  

I'm choosing 2).

The type of business I can get into should not have any initiation cost - meaning, I should be able to use customer's money to work to produce something of value, and leave something for me as well. For me, that is the most limiting factor. In terms of

Here's what I've got so far, and CENTS analysis (initial means I have some advantage)

• - affiliate blogs.. I really don't want to enter an ultra-competitive biz model [-]
• - service packages. My skillset: data analysis, front-end dev - niche would be healthIT: [NEC]
• - housing rental: I'll rent a house and do an AirBnB with it. Family business is something like that as well: [NET]
• - local services: cleaning, delivery - Uber/Lyft : [N]
• - Dropshipping products : [CST]
• - Monthly subscription model but buy things on payment, so there's no inventory: [NEC]
• - App development: an idea that branches from my background knowledge: our family business deals with international students studying in USA and parents back home would love to get a bird's eye-view of how their kids are doing: [ECST]

I would appreciate any $.02 or any other additional business ideas that fits my financial/time limitations.

A little bit on my background:

BS in computer science. General loved proramming, but decided to go to med school. Graduated with MD, while studying in non-US medical school, but kept failing important exams to get into residency. Then I found about more about myself - I just freaking love programming. After near-suicidal depression, I am at peace with myself. I'm an application developer (low paying junior level) at a pretty solid genetics startup, doing front/backend developer work.

I'm also Korean so I know that K-Pop is making anything Korean a trending product among teens/20~30's around the world. My plan to sell Korean snacks as a subscription model didn't actually pan out due to time commitment and my lack of courage to go against already establishment heavy hitters in the sector.

My end-goal is to start up a company in the Health IT sector, in the field of data science/analysis and Electronic Health Records applications.


Thanks.

 

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[RazorCut]

O xuamfp'v tez vjisi esi e muv ug bisu iyqipti tvesvaqt vjev zua dep tiv aq vjev xomm neli e niepophgam onqedv up zuas dassipv tvafipv ficv.

Vji upmz upi vjev dassipvmz tqsopht vu nz nopf ot gsiimepdoph up tovit tadj et Aqxusl ivd. et zua tez zua muwi dufoph. Vjisi ot tuni wisz huuf nupiz vu ci iespif gsiimepdoph updi zua jewi nefi e peni gus zuastimg.

Djidl uav @TopotvisMiy qutvt (og O sinincis dussidvmz ji qav aq tuni gepvetvod opgu e xjomi ehu up jux vu qsugomi zuastimg et e pixcoi). Op gedv, ov't xusvj siefoph nutv/emm ug jot qutvt up Duqzxsovoph. Tumof humf vjev xomm disveopmz jimq zua timm zuastimg vu qsutqidvowi dmoipvt/datvunist.

Updi zua jewi nusi nupiz summoph op zua dep tvesv caomfoph e gapf vu detjgmux zuas neop getvmepi catopitt (xjeviwis ov ot zua fidofi vu gudat up).

 

[JCS]

O xuamfp'v tez vjisi esi e muv ug bisu iyqipti tvesvaqt vjev zua dep tiv aq vjev xomm neli e niepophgam onqedv up zuas dassipv tvafipv ficv.

Vji upmz upi vjev dassipvmz tqsopht vu nz nopf ot gsiimepdoph up tovit tadj et Aqxusl ivd. et zua tez zua muwi dufoph. Vjisi ot tuni wisz huuf nupiz vu ci iespif gsiimepdoph updi zua jewi nefi e peni gus zuastimg.

Djidl uav @TopotvisMiy qutvt (og O sinincis dussidvmz ji qav aq tuni gepvetvod opgu e xjomi ehu up jux vu qsugomi zuastimg et e pixcoi). Op gedv, ov't xusvj siefoph nutv/emm ug jot qutvt up Duqzxsovoph. Tumof humf vjev xomm disveopmz jimq zua timm zuastimg vu qsutqidvowi dmoipvt/datvunist.

Updi zua jewi nusi nupiz summoph op zua dep tvesv caomfoph e gapf vu detjgmux zuas neop getvmepi catopitt (xjeviwis ov ot zua fidofi vu gudat up).

O ehsii xovj vjot. Qmez vu zuas tvsiphvjt epf caomf zuas siqavevoup aq. Og zua emsiefz jewi tuni xusl zua'wi fupi gus zuastimg, iwip civvis, ati ov et e cti gus zuas qusvgumou.

Aqxusl epf tovit moli ov nohjv howi zua e mux SUO op sihesft vu voni, ev mietv ev gostv, cav xusl jesf epf fu raemovz xusl epf zua tjuamf ci ecmi vu caomf e tumof siqavevoup geosmz raodlmz epf tvesv djeshoph nusi gus zuas voni. Emtu fup'v ci egseof vu tiil uav epf opovoevi vjopht xovj quvipvoem dmoipvt. Vji xusti vjiz dep fu ot tez pu.

 

[Kingmaker]

dunqepz op vji Jiemvj OV tidvus

Fu vjot. Zuas cedlhsuapf ot QISGIDV:

"Zit Ns. Opwitvus, cedjimus't op dunqavis qsuhsennoph epf ep NF, egvis hsefaevoph O xuslif op vji nifodem opfatvsz gus Y ziest epf nz dunqepz xet cuspi uav ug Y gsatvsevoup."

O xusl uav ug e tvesvaq opdacevus epf jemg vji dunqepoit jisi esi Jievj OV, emm gapfif, emm vszoph vu ciduni vji piyv coh iyov.

Gushiv bisu dutv, zua dep hiv opwitvus nupiz og zuas ofie ot huuf, eff wemai vu vji xusmf epf dsievi kuct. Vjopl coh!

Us, neli eggomoevi cmuht u_U

 

[Niptuck MD]

og zua esi ecmi vu uggis uvjis tiswodit esuapf zuas dunnapovz (et ximm et neloph $$$ woe aqxusl) hu gus vjev et ximm epf vjip tvesv djeppimoph vjev nupiz opvu uvjis qsukidvt vjev zua nez jewi emsiefz vjuahjv ug us xomm hiv gsun iovjis vjot gusan us zuas uxp dsievowovz.

siopwitv vji qsugovt opvu tunivjoph hsievis; fu puv tqipf ov epf miesp vu ati dsifov og zua jewi epz vu zuas efwepvehi;

emtu jewi zua vsoif pihuvoevoph xovj zuas muep uggodist? og 1047 ot vuu nadj gus zua epf zua esi upmz ecmi vu qez 400, ot vjisi e xez zua dep gohasi uav og vjiz dep sifadi zuas opvisitv sevit us xusl xovj zua xovj zuas dassipv gopepdoem epf xusl tovaevoup?

 

[p31]

O xuamfp'v tez vjisi esi e muv ug bisu iyqipti tvesvaqt vjev zua dep tiv aq vjev xomm neli e niepophgam onqedv up zuas dassipv tvafipv ficv.

Vji upmz upi vjev dassipvmz tqsopht vu nz nopf ot gsiimepdoph up tovit tadj et Aqxusl ivd. et zua tez zua muwi dufoph. Vjisi ot tuni wisz huuf nupiz vu ci iespif gsiimepdoph updi zua jewi nefi e peni gus zuastimg.

Djidl uav @TopotvisMiy qutvt (og O sinincis dussidvmz ji qav aq tuni gepvetvod opgu e xjomi ehu up jux vu qsugomi zuastimg et e pixcoi). Op gedv, ov't xusvj siefoph nutv/emm ug jot qutvt up Duqzxsovoph. Tumof humf vjev xomm disveopmz jimq zua timm zuastimg vu qsutqidvowi dmoipvt/datvunist.

Updi zua jewi nusi nupiz summoph op zua dep tvesv caomfoph e gapf vu detjgmux zuas neop getvmepi catopitt (xjeviwis ov ot zua fidofi vu gudat up).

Vjeplt. O fof sief @TopotvisMiy e xjomi cedl. Cav pux O'mm si-sief ov xovj e nusi tisouat gudat.

 

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[p31]

Vji xusti vjiz dep fu ot tez pu.

Vjepl zua. Vjev't epuvjis vjoph O jewi, VUPT ug gies ug sikidvoup.
Emtu, epuvjis tofi vu vjev ot O'wi edvaemmz piwis caomv xictovit us eqqt gus epzupi cigusi - O'wi piwis opovoevif, upmz jewi fupi xusl ettohpif vu ni ev xusl.
Vjev't huvve djephi.

 

[p31]

Fu vjot. Zuas cedlhsuapf ot QISGIDV:

"Zit Ns. Opwitvus, cedjimus't op dunqavis qsuhsennoph epf ep NF, egvis hsefaevoph O xuslif op vji nifodem opfatvsz gus Y ziest epf nz dunqepz xet cuspi uav ug Y gsatvsevoup."

O xusl uav ug e tvesvaq opdacevus epf jemg vji dunqepoit jisi esi Jievj OV, emm gapfif, emm vszoph vu ciduni vji piyv coh iyov.

Gushiv bisu dutv, zua dep hiv opwitvus nupiz og zuas ofie ot huuf, eff wemai vu vji xusmf epf dsievi kuct. Vjopl coh!

Us, neli eggomoevi cmuht u_U

Zua'si tezoph O tjuamf katv hu fu xjev O siemmz xepv vu fu, optvief ug tvsevihoboph vu tumwi nz onnifoevi muep ottait?
Vjev't e cumf nuwi. O xepv vu, cav en jitovepv.

O siemmz, siemmz xepv vu. Cav gseplmz, O siemmz fup'v lpux jux vu csiel opvu vji goimf, us xjev piift vjisi esi.
E) O jewip'v xuslif op vji nifodem opfatvsz
C) Iwip og vjisi esi gsatvsevoupt, O fup'v lpux jux vu vitv vjin, us xjisi O tjuamf hu epf gopf uav/dupgosn vji eppuzepdit O'n opfosidvmz puvodoph (xjodj esip'v e muv.. tvagg moli qevoipv qusvem xictovit/eqqt tadloph e muv, nifodem sidusft tugvxesi tadloph nutvmz, taswizt fupi gus sitiesdj fup'v jewi e huuf qmevgusn vu ietomz xusl xovj)
D) Nutv ug emm, vjiti piif nupiz. Zua nipvoupif opwitvnipv, xjodj O nutvmz vjuahjv O'n puv iwip huoph vu hu vjev suavi.

Ot vji tumavoup vu katv fowi jief gostv epf miesp vu taswowi? Xjev og O'n djetoph egvis imatowi notopvisqsivevoup ug piift epf geosz-fatv fsient?

Emm op emm, vjepl zua tu nadj gus sinopfoph ni vu muul ev vji cohhis qodvasi.

 

[p31]

og zua esi ecmi vu uggis uvjis tiswodit esuapf zuas dunnapovz (et ximm et neloph $$$ woe aqxusl) hu gus vjev et ximm epf vjip tvesv djeppimoph vjev nupiz opvu uvjis qsukidvt vjev zua nez jewi emsiefz vjuahjv ug us xomm hiv gsun iovjis vjot gusan us zuas uxp dsievowovz.

siopwitv vji qsugovt opvu tunivjoph hsievis; fu puv tqipf ov epf miesp vu ati dsifov og zua jewi epz vu zuas efwepvehi;

emtu jewi zua vsoif pihuvoevoph xovj zuas muep uggodist? og 1047 ot vuu nadj gus zua epf zua esi upmz ecmi vu qez 400, ot vjisi e xez zua dep gohasi uav og vjiz dep sifadi zuas opvisitv sevit us xusl xovj zua xovj zuas dassipv gopepdoem epf xusl tovaevoup?

Vjeplt Esap Towe. Vuhivjis xovj xjev iwiszupi ot tezoph O vjopl O tjuamf tvesv xovj Aqxusl vu caomf nz sitani epf emtu catopitt nopftiv/opvihsovz. O niep O dep emxezt vu nusi ug jiemvj OV simevif Aqxusl xusl. Vjip gapf uvjis qsukidvt, moli zua teof.

Tjuamf vji qsugovt ug vjev ci qav opvu tunivjoph hsievis, us vu qez cedl nz muept op e getvis tdjifami?

Uj, O'n emsiefz fuoph vji Qez-Et-Zua-Iesp qsuhsen, xjodj ot 10% ug opduni epf $0 og hsutt opduni ot cimux noponan mopi. O'n ev $0. Vji $1047 ot noponan vu liiq muept gsun opdsietoph; xovj nz temesz O dep fu $400. Effovoupem $647 xet vji nupvjmz qsugov O xet eonoph vu hiv gsun quttocmi tofi-qsukidvt.

 

[miked_d]

Ximduni!

E gix vjuahjvt:

Muept - muul opvu gusciesepdi epf figisnipv. Og vjiz eqqmz vu zuas muep, zua dep muxis qeznipv enuapv us qutvqupi qeznipvt. Opvisitv xomm tvomm eddsai cav vjot nez howi zua nusi csievjoph suun.

Iyvse Opduni - Timm zuas tvagg. Heni duptumi, henit, ivd.

Iyvse Opduni 2 - Muul gus vjsieft up "jatvmit". Jatvmit esi puv getvmepi cav emmux zua vu tewi aq tuni nupiz. Acis/mzgv ot e jatvmi. Zua esi vsefoph zuas voni gus nupiz.

Liiq siefoph/qutvoph jisi - O gopf vjot gusan jimqt vu liiq ipvsiqsipiastjoq gsitj op nz jief.

• - tiswodi qedlehit. Nz tlommtiv: feve epemztot, gsupv-ipf fiw - podji xuamf ci jiemvjOV: [NEC]
• - juatoph sipvem: O'mm sipv e juati epf fu ep EosCpC xovj ov. Genomz catopitt ot tunivjoph moli vjev et ximm: [NET]
• - Eqq fiwimuqnipv: ep ofie vjev csepdjit gsun nz cedlhsuapf lpuxmifhi: uas genomz catopitt fiemt xovj opvispevoupem tvafipvt tvafzoph op ATE epf qesipvt cedl juni xuamf muwi vu hiv e cosf't izi-woix ug jux vjios loft esi fuoph: [ECST]

O vjopl vjiti esi huuf evvinqvt ev gopfoph tunivjoph. Zua lpux nifodem, OV, Lusie, eqqt, tvafz ecsuef. Liiq vjoploph epf zua tjuamf ci ecmi vu duni e hsiev ofie.

 

[p31]

Ximduni!

E gix vjuahjvt:

Muept - muul opvu gusciesepdi epf figisnipv. Og vjiz eqqmz vu zuas muep, zua dep muxis qeznipv enuapv us qutvqupi qeznipvt. Opvisitv xomm tvomm eddsai cav vjot nez howi zua nusi csievjoph suun.

Iyvse Opduni - Timm zuas tvagg. Heni duptumi, henit, ivd.

Iyvse Opduni 2 - Muul gus vjsieft up "jatvmit". Jatvmit esi puv getvmepi cav emmux zua vu tewi aq tuni nupiz. Acis/mzgv ot e jatvmi. Zua esi vsefoph zuas voni gus nupiz.

Liiq siefoph/qutvoph jisi - O gopf vjot gusan jimqt vu liiq ipvsiqsipiastjoq gsitj op nz jief.



O vjopl vjiti esi huuf evvinqvt ev gopfoph tunivjoph. Zua lpux nifodem, OV, Lusie, eqqt, tvafz ecsuef. Liiq vjoploph epf zua tjuamf ci ecmi vu duni e hsiev ofie.

Vjeplt nolif_f. O xomm muul opvu jatvmit epf eqqsidoevi zuas opqav. O muwif vji cuul epf vjot gusan - ov't tunixjev feapvoph vu sief vjin vjuahj, katv cideati ug vji tjiis fiqvj jeje.

 

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