|My 29 Year Old Goals (when I started Networth Share):|
Goal #1= $1,000,000 networth on paper by age 35.
Goal #2= Self employment by age 35.
Goal #3= $10,000,000 networth by age 40.
Now I'm looking at more passive investments that produce cashflow (rental properties, businesses, commercial properties, etc). In the inflationary environment we are currently in, I believe real estate will continue to perform well as fixed debt is low, and rents continue to rise.
It is my goal to add 1-2 rental properties per year until I have enough properties to pay for my monthly expenses.
At that point I will be technically retired, but at the moment, do not want to stop working - just have the choice, and ability, to do what I would like.
Age 35 update
Goal #1 - $1M Networth by age 35 - accomplished
Though investing, real estate & luck I was able to achieve this goal the month I turned 35 years old.
Goal #2 - Self employment by age 35
Not yet self employed, but not in a hurry to go self employed as well. My employer sold back the company to the employees so all employees have equity in the organization. The way I look at this is I get insurance for my family, 401k match, full benefits plus the equity - all the upside of being a w2 employee, plus the upside of an owner (equity) without the downside of being self employed. Maybe this happens one day, not today.
Goal #3 - $10M networth by age 40
This is a lofty goal to achieve in the next 5 years but I think it is still within reach though real estate deals and equity growth in my company.