Most people spend more time planning a 2 week vacation, than they do the rest of their lives.
And I’m not going to lie… I used to be one of those people.
It wasn’t until I got involved in the world of Financial Services that I realized how important it was to plan for your future… and the first step is figuring out what that future event looks like.
Which is the topic of episode 3 of the #EverythingMoney show.
The concept behind this idea is pretty simple…
Whatever your ideal annual income is – you need to be making that as passive income through either your businesses, your investments, or both.
Generally, a Fixed Annuity or an Income Property will pay approximately 5% as an income.
If you need only $50,000 per year, you would need to save up $1 million and either purchase a property that you can rent for $4,166 per month ($50,000 per year), or you can purchase a Fixed Annuity that pays you a 5% income for life which equals $50,000 per year.
It might sound over simplistic, but many of the most profound things in our lives are just that simple.
You want to lose weight? Eat better and exercise more.
You want a better relationship? Invest an extra 10-15 minutes a day just dedicated to your partner.
You want to increase your earning power? Learn a new skill that increases your value to the marketplace.
It’s really not that complicated.
The key is to get a very clear idea of how much money you need to live the ideal lifestyle that you want.
And your number will most likely be different from my number.
And that’s perfectly okay.
So long as you know what your number is, you can begin putting together a real plan to get there. (We can even help you put together a plan to increase your earnings, as well as, put together a plan to get you the passive income that you need.)
It’s just a matter of finding out what that number is.
Watch the video, if you haven’t. And if you have any questions, then leave it in the comment section below, or hit us up through our Contact Page to get yourself a free consultation.