Everyone has their own unique goals for the new year. Most are likely listing weight loss and quitting smoking as their top priority, while others are listing several countries and places to travel to on their bucket list. In our case today, a new year is an excellent opportunity to prepare for long-term financial freedom. It’s not exactly as exciting as climbing mountains or visiting temples in Asia, but setting up a six-figure passive income for the long-term is anything but boring. In this episode, Jared and Tom d...
Everyone has their own unique goals for the new year. Most are likely listing weight loss and quitting smoking as their top priority, while others are listing several countries and places to travel to on their bucket list. In our case today, a new year is an excellent opportunity to prepare for long-term financial freedom. It’s not exactly as exciting as climbing mountains or visiting temples in Asia, but setting up a six-figure passive income for the long-term is anything but boring.
In this episode, Jared and Tom discuss how you can have a six-figure income in one, five, or ten years. They provide different examples depending on the amount of money you have and your timetable and share the formula you need as well as some of the numbers you can use as a reference when you do decide to execute your financial goals.
The power of goal setting is the ability to see the future you want to create and when you believe that it could take place.” – Tom Obenchain
In This Episode of ROI Wealth Watch:
Why the end of the year is the best time to set goals. The similarities between weight loss goals and financial planning. Scenarios involving a large amount and a little capital. The kind of investments you should do per scenario. What the numbers look like for one, five, and ten-year investment plans.
Wealth Watch Words of Wisdom
The basic formula for the goal setting discussed is $3600 free and clear cash flow per property. To get all the numbers and to work over a long period of time, hire a professional to help you. After you reach your property goal, you can use the cash flow to pay down the principal to boost cash flow even further or by continuing to invest.
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Thanks for tuning into today’s episode of the ROI Wealth Watch podcast with Jared Garfield - your resource for learning to live where you want and invest where it makes sense. If you enjoyed this episode, head over to iTunes to leave us a rating and review. Subscribe to the show so you never miss an episode, and visit our website to grab your free gifts!
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