tag:blogger.com,1999:blog-5599017594616837319.post7408772361857663451..comments2023-07-08T10:54:11.279-07:00Comments on My journey to financial independence - www.niterainbow.com: 2013 Financial Independence Goals Unknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-5599017594616837319.post-74704604681471852672013-01-05T09:17:06.632-08:002013-01-05T09:17:06.632-08:00Great goals! I will follow you closely.Great goals! I will follow you closely.Monsieur Dividendehttps://www.blogger.com/profile/11739326223742656760noreply@blogger.comtag:blogger.com,1999:blog-5599017594616837319.post-40584250993570143982013-01-05T08:33:27.192-08:002013-01-05T08:33:27.192-08:00Hi Liquid!
This is one inspiring strategy - at $5...Hi Liquid!<br /><br />This is one inspiring strategy - at $50K a year you will gaining more than your salary! I will closely following your journey to financial independence!Financial Independencehttp://www.niterainbow.comnoreply@blogger.comtag:blogger.com,1999:blog-5599017594616837319.post-29033430842098401162013-01-04T22:38:53.093-08:002013-01-04T22:38:53.093-08:00Thanks FI :0) Sounds like you've been quite bu...Thanks FI :0) Sounds like you've been quite busy. Don't work too hard though. I have to admit that my strategy isn't all that exciting lol. Truth is, I can only save about $24K a year comfortably, including paying the interest on all my debt. I planned to blog about this later but I'll let you in on my secret early ;) I plan to make the remaining $26K from passive wealth accumulation. In other words, I have about $500K in real estate and stocks today. Should the average value of those assets appreciate by 4% then that's a net worth increase of $20K. Additionally I should build up about $6K a year in the equity of my home and farm, just by making the regular monthly mortgage payments :0) That's how I came up with the $50K estimate(24+20+6)Of course we both realize I am taking on a stupidly large amount of risk by leveraging to the extreme. But risk is the price I must pay for the privilege of being in my current position, oh well. Liquidhttp://www.freedomthirtyfiveblog.comnoreply@blogger.comtag:blogger.com,1999:blog-5599017594616837319.post-65148906466720688912013-01-04T17:45:17.956-08:002013-01-04T17:45:17.956-08:00Hi Liquid,
"Freakonomics" is highly rec...Hi Liquid,<br /><br />"Freakonomics" is highly recommended for reading. I found real estate section particularly entertaining, as well as story about donuts sales. <br />I have been fortunate enough to take on temporary contract which would allow me to earn some extra. In practical terms it means working about 3,000 hours a year instead of average 2,000. I took this opportunity anyway, as I enjoyed the challenge and the posting.<br /><br />Getting your net worth up by $50 K is a nice stretching target. But your networth is already $140 K. Should you get rate of return 7% you will need save $40 K on top of it. It will be very much exciting to read how you are going to achieve it and take on new challenges. Financial Independencehttp://www.niterainbow.comnoreply@blogger.comtag:blogger.com,1999:blog-5599017594616837319.post-45923438801106106492013-01-04T15:52:34.667-08:002013-01-04T15:52:34.667-08:00One book a month sounds about right. That reminds ...One book a month sounds about right. That reminds me, I have some finance/business books to read as well. Have to go through "Freakonomics" and "The Power of Why." Got those from Amazon in late 2012. Accumulating $42K is a nice goal as well. Since you also plan to stay under $80K for expenses does that technically mean your family takes home more than $10,000 a month? Wow congrats, that would be incredible :0) I haven't posted my 2013 goals yet but I'm thinking increasing net worth by $50K :D Liquidhttp://www.freedomthirtyfiveblog.comnoreply@blogger.com