Give your journey a Destination - More about goals and target setting
What i'm going to show you here is how to think a bit harder about those targets you set when you joined up, because very few of us will have actually taken out current costs of living into account when setting them. What is our Financial Freedom number? How do we derive that number based on our expenses? How much will we need to earn to allow these numbers to be achieved after costs and taxes have been applied?
What is my destination? It is the lifestyle that you want to lead, whilst having total freedom to enjoy it.
There are two strategies to reach your destination.
The first strategy is a Money System in which you save enough money which is large enough to realise your desired lifestyle through monthly interest and dividends.
The second strategy is a business system that produces passive cash flow that supports your lifestyle AND simultaneously feeds your Money System.
To make this happen, YOU NEED TARGETS. How much money will you and your family need to reach your Destination?
What is the price for the Freedom and the Lifestyle you want?
This four step process will help you identify it.
1. Define the Lifestyle : What do you want?
2. Assess the Cost : How much do your dreams cost?
3. Set the Targets : Set the Money System and Business Income System Targets
4. Make it all real Real : Fund it and Open It!