Should I be worried financially?

I wouldn't say you will be a failure in life as your only a failure in life if you don't work hard to earn the money in business.

On the business side I would recommend you don't get a business mailing address, phone number etc just yet you should only do these things when you earn enough money to easily afford these things from your business.

If your starting a business in buying and selling products then you should create a business plan so you know what your objectives are, how much money you will need and what you hope to achieve in the future and whatever you do don't go into your families money and your college savings should stay where they are.

If you need money to start off then you could go to the bank and present them with your business plan or find investors or you could use crowdfunding sites such as kickstarter to get the funds you need but in my opinion I think you should at this time use the money you can afford to lose to try to make some money from your business.(not your familys money and college fund).

Try things such as affiliate marketing to earn money as amazon has an affiliate program you could use that to earn some money on the side and you could market your own or the affiliate products online using free methods such as video marketing, article marketing, forum marketing and social network marketing.

Also one very good investment you should have is a website and for that you will need a domain name, web hosting and you should install wordpress and choose a theme around your products etc.

But you are not a failure you may not be well off in your current situation but that doesn't mean you won't be in the future you just got to keep at it and never give up.

I do not understand why you presume that your fathers assets are your assets? I'm guessing that he worked his entire life to make "his" modest retirement. You have no claim to it.

-Get your GED.
-Get a job and learn how to do something. Make yourself useful. and gain some real life work experiences.
-Save your money. As long as your Mother and Father are kind enough to put a roof over your head take advantage of it... but not them!
-Figure out what you need to start your own business. Start planning, and saving.
-When believe you have what you need to get started, ask the question again.

Bro first of all NEVER ever ask someone else if you should be worried - it doesn't matter what anyone else thinks but you.

And there's ABSOLUTELY no point in worrying, how is that going to help you in any way?

In all honesty - you're doing fine - you've got a business mindset, you've got goals, you're hungry - you'll find a way to make it happen.

Don't be passive with this. Be proactive.

If you want something bad enough - you'll make it happen, I don't care what anyone says.

You're doing fine bro - there are people that started off homeless who are now millionaires.

Keep grinding man!

No one can say if you're going to be a failure; it has nothing to do with how much money you have now or expect to receive. I've seen fortunes built on a few bucks.

GRM

At least you are doing something, n u already in the right forum. After checking your needs, you will definitely need a website.

Why should anyone be worried if they have free food and boarding?
Well, maybe prisoners are an exception.

You write well so you should at least get your GED and take it from
there while your parents are still tolerating your company.

-Ray Edwards

Invest a few bucks in the book "The Millionaire Fastlane" by MJ DeMarco. Maybe you can lend it at your local library.

In addition to what the other warriors have said this gives you all insight that you need to find the flaw in your current business "model" (hint: scalability).

Do not get too much overhyped on the millionaire thingy though - but the metrics how to judge if a business *could* make you millions are very worthwhile to study.

1. You have a loving family..
2. Your dad has already invested in your future..
3. When you're ready he will open the floodgates.
4. Be ready.

What I mean is that your dad is ahead of you and is probably doubting what you're up to in life. If he saw something solid he will start releasing money to help you.

Maybe he wants to see you go into the corporate world because he doesn't understand entrepreneurship.

The only way I see you doomed is if love is lost between the two of you, or if you play a huge gamble and lose out.

Trust me, business is hard..

It's like an illness to some to get started.

But you're in a very good position to get started with business and my advice..

Number 1 tip?

Find a mentor who has made it and that way you shall climb easier.

Everything in your post is meaningless to your future. It is all up to you

al

Who owns the homes and why would you consider your father's income part of your assets? I hope you do have a job. If not, you should get one until you have a working income online that is steady and reliable.

I'd get my GED if I were you.

There are millions, most notably; lack of aptitude.

Your story is really motivating you know. I don't think you would fail at all, if you keep your head up. And your wonderful story has just reminded me that one has to start from the scratch to make it in life, no matter your beginning.

IMO failure is a mindset not controlled by any external phenomena. Some people have enough money, enough education and enough guidance and still fail while other have practically nothing and build empires. Some may call it luck but I think that is naive.

Successful people have a successful mindset and are successful at everything they do. Now don't confuse this with being successful straight away or never failing because they are totally different. Successful people will always be successful eventually but they will fail ALOT along the way. But thats fine, they know thats part of the deal. Just keep going.

So to answer your question. I don't know if you will be successful because the metrics you have given us to gauge are not the correct ones to make the assumption of success or failure. Just go out there and make mistakes, learn, grow and work hard and success will find you.

Money comes and goes but you can never fail if you never give up

Well, you're probably not going to like my response. First, why the heck haven't you gotten your GED in the 5 years you've been out of high school?? That, to me, is a huge red flag in terms of your mindset and character (combined with using the term "our net assets" - more on that later).

You would be extremely foolish to not get your GED. Have you even looked into it? Don't naively assume time is on your side - you don't know what the future holds.

Then you get a job and earn it. You said you had a job at Kroger. You live at home and, I'm guessing, have very few expenses, yet you've saved only $570 to put towards your business? I hope your dad is wise and doesn't let you touch those college savings until you've shown much more ambition.

This is the part of your post that I find the most disturbing. Those are not your assets. Those are your parents' assets. The fact that you even use the word "our" speaks volumes. Are you just assuming that when your parents die (which, could be a long time depending on their health and age) you're going to suddenly have $500,000 in your pocket?

You need to stop thinking of their assets as yours. That's part of growing up. There's nothing wrong with continuing to pursue your online business. But at age 23, you still haven't bothered to get your GED, still live at home (generous mom and dad!), and in 5 years haven't been able to save more than $570.

So, yes, to answer your question - in my opinion, you need to be very concerned about your financial situation - because of your attitude and mindset. That's just my opinion, and you are certainly welcome to reject it. But you sound like a spoiled kid with little ambition who's been allowed to skate by far too long, living off mom and dad.

Forget your parents' assets and start acting like an adult. You're 23, not 16. Get your GED. Get a full time job. Earn the money you need to put into your business (which you can still do on the side). If anyone hands you that money you will fail to learn valuable lessons that will give you a much greater chance of success down the road.