Thursday 6 August 2015

I want to be worth a million by the time I'm 30

This morning a proudly announced to my Facebook friends I intend to be worth a million in the next 5 years. The post got a couple of likes, a few jokes were made about inflation and my husband's life insurance policy, but most people didn't give it too much consideration. What they didn't realize is that it wasn't a joke - I have set a goal for myself to be worth one million dollars by the time I'm 30.

Why set the bar so high? I've always wanted to be an entrepreneur. I'm starting my own business and am working to establish multiple revenue streams so eventually my husband can quit his job and work with me. The business income is necessary to fund my other projects - real estate investment. The goal is the purchase low- and mid-tier housing and flip them cosmetically for a profit. The first few we'll sell but as we accumulate more cash flow I plan to keep a couple on as rentals. Real estate investment is where I plan to have the bulk of my net worth to come from.

The business I'm starting is just me branching out as a freelancer in the industry I already work in - web design. We're in a position where there really isn't any competition in our area and a lot of small businesses to draw from. Barring extreme circumstances it's a pretty safe bet that we'll have some success in our area, mostly because I have 6 years and my husband has 8 years of professional experience in the industry.

Then there's this blog which I am really working towards updating more. Writing is a passion of mine and I hope to make this hobby into something more. I don't intend to get rich blogging but it's a nice way to unwind so I will keep doing it regardless.

These goals are extreme on their own but much more so with 5 kids, 2 of which being newborn twins. They occupy a lot of my time but they also motivate - I want to be able to give them everything. The next step is to write out a practical plan to make this happen. Nothing is impossible! Being self employed and an entrepreneur are two lifelong dreams of mine and nobody can make those happen but me.

If you read this please leave a comment with your dreams and if you're working to achieve them. If you have a link to a blog post on it even better! Or tell me I'm crazy.

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