OK so my original plan about a year ago was to become a millionaire within 9 years. I had it mapped out. I am happy to say I have been able to revise my strategy and I have gotten it down to about 5 years. From last year it would be 6 years. So I have reduced the time frame by 3 years.
What is interesting, though, is my strategy is not completely fastlane. Well, 5 years from now is fast to some extent but my model does not completely follow all the fastlane principles. The only real model that it mirrors is it is completely passive.
The only reason I am able to make this work is because I am in a position where I can follow an old slowlane principle of saving money. In most cases this is not ideal and will only make you rich when you finally make it to the retirement home. Our goal here is to establish wealth NOW.
I will provide my next update in the Spring and hopefully provide more detail on my model/goals. I am very excited and have seen a lot of progress towards my overall goal. My 5 year plan is $1m. My 7 year goal is $3.5m.
What is interesting, though, is my strategy is not completely fastlane. Well, 5 years from now is fast to some extent but my model does not completely follow all the fastlane principles. The only real model that it mirrors is it is completely passive.
The only reason I am able to make this work is because I am in a position where I can follow an old slowlane principle of saving money. In most cases this is not ideal and will only make you rich when you finally make it to the retirement home. Our goal here is to establish wealth NOW.
I will provide my next update in the Spring and hopefully provide more detail on my model/goals. I am very excited and have seen a lot of progress towards my overall goal. My 5 year plan is $1m. My 7 year goal is $3.5m.
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