My ultimate goal: Preparing to retire at age 40 years old with financial freedom – Part 1
67Introducing
This is about my own ultimate preparation to retire at 40 years old with financial freedom. I will share how I plan to achieve my goal with 5 W 1 H: What, When, Where, Who, Why and how.
What is “Retire”?
Referring to http://oxforddictionaries.com definition, Retire mean “Leave one’s job and cease to work, typically on reaching the normal age for leaving service”. 1
What is “Retire” mean to me?
“Retire” mean to me is able to have all the time to do what I like to do, such as wake up naturally, have the choice to no need to go work when the sky look not good, play with my son anything of his choice.
What is the best “Age of retire”?
Look at the definition of Online Oxford Dictionary, “Typically on reaching the normal age for leaving service”, and let focus on the word: “NORMAL AGE”. What is normal age? I always ask myself why we must retire at follow “normal age”! Why we cannot set our own age?
What is the best “Age of retire” mean to me?
The best age to retire is as young as you can! Not the age set by yours company, boss or government, but the age set by your own.
Currently my age is 36 years old, I set my retire age at 40 years old that is at year 2015. That is only 4 years from now; it is equivalent to 48 months, or equivalent 208 weeks, also equivalent to 1,461 days, also equivalent to 35,064 hours.
How to achieve my ultimate goal? The key is “Leverage”, I will discuss in later part.
What is “financial freedom”?
If a person is financially free, this person can support himself/herself (and all his/her dependents) financially without having to work to earn an income for the rest of his/her life and generation to come.
His/her income come from his/her money making machine generating passive income, such Multi-level marketing business, Internet marketing business, share investment portfolios, joint-venture business MSI (Multi Source of Income) and etc .
What is “financial freedom” mean to me?
To me, my financial freedom now is simply having passive income of $15,000 or more monthly.
Summary:
When goal is set and the goal is big enough to overcome the fear, rejection and comfort zone, new actions will implemented and follow; new changes and new result will be made.
Continue part 2: Actions Part
I will share below in details learned from financial sifu:
ACTIONS that bring result =
(Pain > Rejection and fear) OR
(Gain > Rejection and fear) OR
(Pain > Gain) Or
(Gain > Pain) OR
(New Change Zone > Comfort zone)
References
- Retire - [no object] leave one’s job and cease to work , typically on reaching the normal age for leaving service. http://oxforddictionaries.com/definition/retire
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I like you ideas on money making machine that can generate passive income especially through investment portfolio and Internet marketing business. Thanks for sharing:)
A secure retirement is to plan ahead and take action on our plan. Good luck to your early retirement.
Where is your anothers 4W + 1H? When, Where, Who, Why and how?
Looking forward for your part2
Where is your anothers 4W + 1H? When, Where, Who, Why and how?
Looking forward for your part2
This is very interesting. Will wait for your part 2.
There are three wealth mountains you can gain financial freedom - property investment, stock investment and marketing. You are on the right pathand I wish you success.
What is a good 'ripe' age to retire? - million dollar question. Well, the best is not to have to work a single day of your life and live off your inheritance. However, not everyone is born with a sliver spoon and we have to work for our sustenance. Being a simpleton is still the best but in this materialistic world?
It is not easy when you have lots of commitment in life. Anyway, once target set, put plan into action. Go for it! Looking forward to your Part 2. Thanks for sharing.
good planing ...
Only minor people have this as plan! When Part 2?
You put learning to action. Gear up action and actions is crucial to reach your goals
calvincho 7 months ago
good objective and is everybody wishes too. I believe u have the will power to make it come thru very soon.