10,000,000$ Net Worth .......Impossible? Hell No!

[DeletedUser394]

I was reading "Think and Grow Rich", by Napoleon Hill, and got to the part where he said you need to define your goals (Russ H as well)

So after much thought here we go;

-500,000$ worth of imported luxury automobiles (If leased, .5$ Million will be the car(s) total net worth)
-3,500,000$ penthouse suite in LA County. (I'll settle for a condo)
-6,000,000$ Investments (RE, Cash, etc.)

I told a friend this the other day and he said "What if you don't do it?"

I thought about that, and it hit me. You only get one chance at life. If I fail I will pick myself up and try again. If I fail again, I'll try harder. In truth, I won't let anything stop me.
I envision where I want to be, and nothing will keep me from it. Sure it will be hard, some days I'll feel like quitting, but the desire will always be there.
That image in my head that won't go away; The one where I'm waking up to the unobstructed view of the pacific ocean, cruising down the freeway turning heads, hitting the finest casinos in the world, attending the hottest sports events, buying custom Armani suits.
I can see it....I want it.......and there's no way I won't get it.... I won't quit, and I won't go out without a fight... I've already decided to burn the white flag....there's no turning back.
I figured since I've already almost died twice (lengthy stays in the ICU barely able to breath, put on respirators), that there's no time like the present.

So here goes, the time is NOW.

 

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[Jorge]

Nice goals RichKid, and great attitude!

I´ve similar goals, just a suggestion though, success is more than money. Maybe you don`t agree and thats really fine, is just what I think!

Giving back and making an impact in the world is wonderful too! And that doesn´t invalidate the other goals.

All the best, and don`t give up!

 

[DeletedUser394]

Yup I know, I've just written my materialistic goals.

One of my ULTIMATE goals is to become a philanthropist, not only donating money but my TIME, because that is life's most precious asset (thx MJ!)

As for marriage and all that......I'll wait another 20 years

 

[Runum]

Good luck RichKid. I'm looking forward to seeing you make it. Keep us posted on your progress! :fastlane:

 

[WheelsRCool]

Same here RichKid, I want to become a philanthropist too.

 

[Yankees338]

You are easily the most motivated kid I've ever had the pleasure of talking to.

Speed+++ for the written goals.

 

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[Andrew]

The great thing about big goals are you can fail miserably and still do extraordinarily well. I suggest bumping that from a 10m net worth goal to a 10m yearly income goal.

 

[HenkHolland]

RichKid, in view of your age, your determination and your intention to try again and again in case you fail I'm convinced that you're going to succeed.
Good luck on your path to your noble goal: philanthropy.

 

[fanocks2003]

Admirable to see young people focus on a healthy financial life at your age. But don't forget to enjoy the ride. It can easily become an unhealthy obsession to become richer, wealhtier, have more income etc. Don't forget the spiritual side of it all.

For me: Time and a good concious is the most important things. With those two in the bag, money and wealth itself will be easier to attain.

 

[Phil]

I identify with a lot of what you said richkid. I love ''burning the white flag''. Great attitude!

I think the most important thing is working out WHY you want this stuff.

The WHY is much more important than the HOW.

Really think why you want to be buying custom armani suits and going to top casinos.

Why is this what you want? And how will it make you feel when you get it?
Do you genuinely 1000% deep down within yourself really, really want this stuff?

Or

Do you just think it sounds cool?

Because at the end of the day, If you haven't worked out why you want something you will work your a$$ off night and day and in the end not be fulfilled. Which is a terrible waste of time and energy in my opinion.

For example being able to play the guitar like Hendrix would be very cool, but it's not something that deep, deep down I truly want!

Although I do want to:

Make my own business a huge success Because this will prove that I can achieve anything I want and I also want to be my own boss.

Have I job I love Because I want to enjoy what I do every single day.

Have £11.5m in Savings and £65m in Assets before I turn 30 Because I want to provide a great life for those I love and create opportunities for those close to me.

To Own a Lamborghini Murcialago (the one in my avatar) Because I absolutely love and deserve this car!

^These are just a handful of my personal goals I have a lot more that relate to health, giving and relationships (just incase you were thinking I was shallow :smxB: )

Just have a think about that and also watch the secret; Great visualisation excercise!

http://www.youtube.com/watch?v=_b1G...ogle.com/videosearch?q=the+secret&sitesearch=

With your level of motivation and focus I Believe you're going to be a very successful youg entrepeneur.

All the best

Phil

 

[fanocks2003]

I identify with a lot of what you said richkid. I love ''burning the white flag''. Great attitude!

I think the most important thing is working out WHY you want this stuff.

The WHY is much more important than the HOW.

Really think why you want to be buying custom armani suits and going to top casinos.

Why is this what you want? And how will it make you feel when you get it?
Do you genuinely 1000% deep down within yourself really, really want this stuff?

Or

Do you just think it sounds cool?

Because at the end of the day, If you haven't worked out why you want something you will work your a$$ off night and day and in the end not be fulfilled. Which is a terrible waste of time and energy in my opinion.

For example being able to play the guitar like Hendrix would be very cool, but it's not something that deep, deep down I truly want!

Although I do want to:

Make my own business a huge success Because this will prove that I can achieve anything I want and I also want to be my own boss.

Have I job I love Because I want to enjoy what I do every single day.

Have £11.5m in Savings and £65m in Assets before I turn 30 Because I want to provide a great life for those I love and create opportunities for those close to me.

To Own a Lamborghini Murcialago (the one in my avatar) Because I absolutely love and deserve this car!

^These are just a handful of my personal goals I have a lot more that relate to health, giving and relationships (just incase you were thinking I was shallow :smxB: )

Just have a think about that and also watch the secret; Great visualisation excercise!

http://www.youtube.com/watch?v=_b1G...ogle.com/videosearch?q=the+secret&sitesearch=

With your level of motivation and focus I Believe you're going to be a very successful youg entrepeneur.

All the best

Phil

Agree, know the "why" behind your decisions. Many things that feels right may be totally wrong for you because it may be something you may think everyone will expect you to wear, be, look like etc. But why do you want it and does it fill a practical function in your life? That is the question.

This is how I see it: As long as I have money to cover all my passive expenses every month + active expenses like enjoyable travels, partying etc. If I have all that I am pretty OK, really. Wealth in it self is really just a number on a balance sheet. The idea here is owning what people want the most. It may seem very simplistic, but making $10 million on paper isn't that much of a deal. Create a company with 1 million shares, sell 1 of these shares for $11 and you will be worth $10-$11 million. Because if you can sell one out of 1 million shares for $11 to a total stranger, then what is that says that you can't sell a couple more of the same shares for the same price? As I said, this is a very, very simplistic way of looking at wealth creation, but none the less one way of looking at it.

And of course, you only sell shares in a company that has a proven business concept and is there to fill a function in the society. It could very easily (and surely so) be considered a fraud otherwise.

This may be the wrong time to post this, but I read about Dr. Phil (Philip C. McGraw). When he was 23 years old he started a health club in Topaka, Kansas (if my memory is correct). He got many customers to sign up on long-term agreements and then sold these agreements to financial institutions. He then closed down operations. That is not the way to do it. Just thought it was ironic and also relevant to this post of mine. So, build a company that is supposed to live forever, not die directly thereafter and you will be fine.

 

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[DeletedUser394]

You are easily the most motivated kid I've ever had the pleasure of talking to.

Speed+++ for the written goals.

likewise

 

[MJ DeMarco]

I was reading "Think and Grow Rich", by Napoleon Hill, and got to the part where he said you need to define your goals (Russ H as well)

So after much thought here we go;

-5,000,000$ worth of imported luxury automobiles (If leased, .5$ Million will be the car(s) total net worth)
-3,500,000$ penthouse suite in LA County. (I'll settle for a condo)
-6,000,000$ Investments (RE, Cash, etc.)

I told a friend this the other day and he said "What if you don't do it?"

I thought about that, and it hit me. You only get one chance at life. If I fail I will pick myself up and try again. If I fail again, I'll try harder. In truth, I won't let anything stop me.
I envision where I want to be, and nothing will keep me from it. Sure it will be hard, some days I'll feel like quitting, but the desire will always be there.
That image in my head that won't go away; The one where I'm waking up to the unobstructed view of the pacific ocean, cruising down the freeway turning heads, hitting the finest casinos in the world, attending the hottest sports events, buying custom Armani suits.
I can see it....I want it.......and there's no way I won't get it.... I won't quit, and I won't go out without a fight... I've already decided to burn the white flag....there's no turning back.
I figured since I've already almost died twice (lengthy stays in the ICU barely able to breath, put on respirators), that there's no time like the present.

So here goes, the time is NOW.

Very admirable to have such great goals. Believing you can is the first step (congrats) followed by the correct choices which align with those goals. Having a vision (which is the equivalent of 'the idea') and making the choices (which is 'execution') are two different beasts. Understand that your daily, hourly, and minute-by-minute choices will impact your progress to these future realities you have designed.

Most important, enjoy the journey and the growth that you will experience on this trip. I make an analogy about such a journey like taking a trip across country from NY to LA -- when you make the trip, you've gotta take time to look out the window and absorb the scenery .... stop and enjoy the beauty of each state ...

While it might be hard for your to understand now, I can tell you that the journey, not the destination, is where you must derive your happiness and satisfaction.

 

[MrPink]

Totally reminds me of the book, Zen and Art of Motorcycle Maintenance

what is the driving force between 5mil and 10mil?

I understand the drive to get to the point where you can live passively off of your investments to do things you enjoy.

Maybe to answer my own question, the reason would be to do more extravagant activities.

 

[rico]

I wouldn't worry about friends who don't share the 'fastlane' type ideology or are negative enough to doubt a plan.

Just power on through, work hard and success will follow.

But why set your goal at $10m? Why not $100m? 😀😀

 

[fanocks2003]

PhxMJ, agree. I don't really believe in destinations per se. The journey will always be there. Nothing is static in life. So the destination is merely an illusion.

I mean being worth a certain number for example seems cool when you start out, but when you ultimately reach the point where you are worth that certain number you dreamed of, it is no longer such a big deal (I rather find it dissapointing to be honest). It is just a number. You still need to pay your bills anyhow. The sun goes up and the sun goes down as before. Nothing fancy, nothing really new has happened.

As I said, as long as I have enough to cover my responsibilities (and have some money to do fun stuff) I am more than happy. The reason I build companies now is for the fun of it. That in itself makes it more than worthwhile to get out of bed everyday.

 

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