Being wealthy doesn’t just happen it has to be planned, even lottery winners had a plan to buy a ticket. So, how do you expect to be wealthy if you don’t plan for it?
Making a plan doesn’t need to be complicated. All you need to do is set a target for making so much money a month then work backwards to decide what you need to invest in to make that amount of income.
For example - if I decided I wanted an income of £1000 a month what would be the easiest way for me to have that income using 4 Category investing.
Property - buy 2 or 3 properties each providing a net rent of £400 - £500 per month.
Business - build a business that allows you to draw down £1000 per month. This is achievable with Network Marketing business or a traditional business
Shares - invest in dividend shares to produce £1000 a month.
Any combination of the above will produce £1000 a month. Any combination of the above could be generated within 12 months with a plan.
Now Imagine if you duplicated this every year for 5 or 10 years. Would £5000 - £10,000 a month income be enough for you to retire?
The philosophy of the £2.73 Club is about taking small steps every day which over time generate large returns. It’s about generating multiple streams of income through 4 Category investing.
As you wind down for Christmas and New Year Celebrations take a moment to put your plan together for generating wealth and lifestyle.
Peter and I wish you and your families a Merry Christmas and we look forward to working on your plans with you in 2018