A summary of my targets:
$100000 by age 28, Year 2016
$300000 by age 32, Year 2020
$600000 by age 36, Year 2024
$1 Million by age 42, Year 2028
It's always a dream to achieve 1 million. I'm not a person who spends a lot and i live a simple life. Why do i need 1 million? The reason is with 1 million, i can invest it and create a modest passive income stream to reach financial freedom. Another reason is investing 1 million to become 2 million is a 100% return. Thus, to create the next million will take me lesser time maybe 5 years if i see the next bear market. 10k to 20k is 100%. 1 million to 2 million is also 100%. This is the reason why the rich get richer.
I've always been taught not to go after money and material things because money will not make you happy. This i agree with it and thus i think achieving 1 million is not about going after money or material things but seeking for a financially free life. I've seen people complain about their jobs, complain that they don't like their bosses and also complain that they still have to work at a old age and cannot retire. If i do not want to be like that when i'm older, then i should plan for my life now. I believe that only by achieving financial freedom can we then truly live a life not being a slave of money or getting caught in the rat race. It is then can we truly enjoy life in itself. This does not mean i will stop working when i achieve financial freedom but rather i have a choice to do the things i love.
I've listed down the details of how i can reach each target. Click here to see it: My Goals
Realistic Goals!
ReplyDeleteHi CreateWealth8888,
DeleteI do hope its realistic too. Expenses will surely go up in the small island state we live in. Hopefully my income goes up as well :P
And of course the stock market goes up as well along with my investments.
Btw, i've been reading your blog too. Great blog you have. I've always wanted to learn from an experienced "Uncle" like you.