My Goal is to develop several streams of income, I consider a stream any process that brings in at least $500.00 a month. Why $500.00 because it is realistic for most anybody. Now I know you are wondering how will I get rich on $500 dollars a month? Which in all reality is very hard to do, but If you can create that stream and it doesn't cost you any more work, and it is not a part of your normal everyday budget then $500 can go a long way.
Now my goal is to create at least 8 streams, which would be $4000 dollars a month. Now that is good investment capital. Why not one $4000 stream? The answer is I want $4000 streams, but I want money coming from different sources that way if a stream gets blocked, all is not lost. It's like the old saying "don't keep all your eggs in one basket". Why? Because if you drop that basket you have no eggs. Now 8 streams is just a number I like. Just like $500 is a minimum I like. You can let your imagination run with this one, But what ever you do create as many sources of income as you can.
Monday, November 21, 2005
Thursday, November 17, 2005
Funding my wealth
My first Goal is to find funding. You know it take money to make money. You really have to start somewhere. Looking at my pay stub, I giving F.I.C.A. over $200 a payday. well I look at it like this, I may see social security but I will not include that as part of my plan Because I really don't think that I will benefit from it. It is just like all the other pension plans, It sounds good but it will probably never mature. And Just think if I'm fully vested at 65 I might get a little over $2000.00 a month. " I pay in it all my life to live on $2000 a month". Not Me.
So if they can take that much out of my pay check every month, I 'll Take half of that as my seed money. So I will work with at least 200.00 a month. Now I understand that everyone can't do that, so do what you can. "DO SOMETHING!" Don't get caught in this cruel world without a plan, or two, or three.
So if they can take that much out of my pay check every month, I 'll Take half of that as my seed money. So I will work with at least 200.00 a month. Now I understand that everyone can't do that, so do what you can. "DO SOMETHING!" Don't get caught in this cruel world without a plan, or two, or three.
My First Step
First I must define what is wealth to me.
It makes no sense to chase a goal that has never been set. You see I learned a long time ago that you are your last goal. That's why it is important to change them and make them every year your goal is your goal, so don't let anyone tell you what you can an can not do.
If you want be as rich a bill gates then that's your goal. Me I want a million dollars that I no longer have to work to sustain. So my one year goal is a million dollars work free. Now I have to ask myself is that a realistic goal? Since I think it is, I will need to break it down into short achievable goals. Then I must put my plan in action.
It makes no sense to chase a goal that has never been set. You see I learned a long time ago that you are your last goal. That's why it is important to change them and make them every year your goal is your goal, so don't let anyone tell you what you can an can not do.
If you want be as rich a bill gates then that's your goal. Me I want a million dollars that I no longer have to work to sustain. So my one year goal is a million dollars work free. Now I have to ask myself is that a realistic goal? Since I think it is, I will need to break it down into short achievable goals. Then I must put my plan in action.
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