As a 19-year-old, I have incredibly ambitious goals. By November 15th, 2029, my 30th birthday, I will have amassed $10,000,000. My plan for this goal has a lot of pieces. These pieces include my business, investments, lifestyle, and many other things. We all know the saying, buy low and sell high. When investing, money is made on the buy side, not the selling side. Statistically speaking, a recession is certain in the next 10 years. When a recession hits, I’ll be prepared to buy properties, stocks, and other investments at a great discount! For example, If I buy a property a 40% discount, I’ll make 40% just when it returns to normal prices! Anything over normal price is just a bonus! These investments also provide cash flow in terms of dividends, rent, etc. I also am working on starting my own business. All of these pieces are apart of a huge plan that I have to achieve freedom and increase my impact.
Why $10 million? For me, that’s the amount I need to set a foundation for the rest of my life. I’m not done after I hit that amount. It’s just the foundation to build the rest of my life on. $1 million isn’t enough anymore. Those who have $1 million at 65-years-old still have financial struggles. Whenever something happens, I want to be able to say, “I got this.” I don’t want money to ever be an issue or a deciding factor in any decision. I want freedom. I want to be able to choose and decide. I refuse to be a slave to others and money. I feel like I have an obligation to provide. I have a desire to take care of others. Do I have a control issue because I want to control every aspect of my life? Probably, but I do it because I care. Having clear and concise goals is important for lifestyle design. What are your goals? How do you plan to accomplish them? More importantly, why do you want to accomplish them?