My plan for 5 years Towards Financial Freedom
|May 21, 2017||Posted by BLOGGER under BUSINESS|
My goal is to be financially free in just 5 years. As you probably know this is not exactly "# 39 ;, you do not see many people retire before they reach 30. In fact, most people these days can not even afford to retire. When they reached age 65. you know it's the greatest fear in the United States today is not terrorism, or nuclear war, it runs out of money before death. Financial Freedom does not just happen, you can not really accidentally become financially free. You need to decide you want to become financially free and you need a plan to. Most people do not retire prematurely and are not financially free because they are always trying to make more money, they think. It is not the money you have, but it is the cash flow you can make. The first step towards becoming financially free is to decide on your income. How passive you need to really be free financially.
What is your total cost? When you discover that, you can begin to set up a plan to achieve that target income.
For some reason I do not feel comfortable sharing my target revenue with anyone. Near my friends will happily say, but on my blog I'm a little tired to say. Lets say we can become financially free beyond the average salary of a person. We now live very simply and do not need much to survive. Once I become financially free, I will have the time and freedom to focus on becoming rich.
What is your number? How much passive income do you need before you can become financially free? The plan
My plan is basically to do something about the plan.
It is not placed on a rock, and it does not have all the details drawn. Basically I know where I am, I know where I want to go and I know the car I'm using to get there.
My plan is:
Build businesses and then use those businesses to invest in real estate. Income from real estate will finance my financial freedom.
I was working out that I just own 8 bottom of the crates property to successfully become financially free. So my plan is for my wife and I both working part-time to pay bills, and then I also work part-time to build my business. When the business starts generating income, then I will reinvest back into the business to grow it more. Then, when the business has enough income, I will use that money as a real estate deposit. I will buy as much as I can afford with the income I get.
Beginning is the hardest part. As soon as my business starts generating income and I buy my first property, it will be easier. Instead of struggling to save money, my first investment property would help me second, and then my second would help more to finance the third and so on. It develops its own, the hardest part is getting the ball rolling.
This is where I'm starting. I know enough to invest in real estate now but I do not have the capital. So, I'm building a business so I can get the capital to invest.
My business plan is very simple. I do not have all the details, and I have decided exactly what my product is, but the business model is tested and proven.
Basically the plan is to build a list of email subscribers via Aweber. I created a website I use this site to collect people's names and email addresses. My goal is to earn $ 60,000 a year from my business, and this will be easy to do with a list of 60,000 people. So my goal in the next 5 years is to collect the contact details of 60,000 people.
I'm marketing my list through the article submission database. I started with ezinearticles.com. I just started doing this and it proved very successful. With just 100 articles (most of which I've taken from my old Blog archive, I'm smarter) I get from 2 to 6 submissions every day. My goal is to write 1,000 articles and send them to multiple databases to get my 60,000 subscribers within 5 years.
Then I will make money by marketing the products through my list. I had a product that was a financial training course of 8 weeks. Whenever someone subscribes to our newsletter, they will be redirected to my sales page. These revenues include the cost of my business and that is passive income, of course running alone. The ultimate goal is to create an online financial education membership site. I want to be a member for about 6 months and charge a monthly fee. I did a lot of research on finance and I spent over $ 10,000 on my financial education. I am also seeking to collaborate with others to create a joint venture for this membership site. But that's a bit down the road. As my list goes up, my earnings will grow.
This listing is automatic. The article I write automatically markets my site, when people sign up for my email list that I wrote will automatically be sent to my subscribers. Sometimes emails will automatically market my membership site and will automatically market other products. It is a lot of work at the moment but everytime I plan for it to run without my input. My articles will be written, my emails, all my products will be created, marketing, selling and distributing my products will all automatically. Then I would have plenty of time to research the property and look for great investment for my money. Real Estate
My goal is to invest in positive cash flow assets. I would like to pay a deposit of 5-20% for each property I purchase. After my deposit is paid, I want enough rent to cover my expenses, with a bit of leave. Each year the rent will increase, as the price of my property and I will be able to take advantage of equity to buy more property. I need to own 8 real estate completely to be financially free. But because I have a 5 year time limit, I can own 10-15 properties that I still have a mortgage but generate good passive income. By leveraging the money banks each year I will get richer, because the rent will increase but my big expenses (mortgage loans) will go down. So, even if I'm financially free and I stop working, I will become richer each year.