Money Declarations & Decisions
Risk comes from NOT knowing what you're doing.
I WILL take calculated and prayerfully safe risks =)
I will be fully retired by age 50!!
1. Why do I want to earn passive income?
- I want to be free.
- I don't want to wait for the perfect time to buy a home.
- I want to be able to provide for my daughter's education, needs, scholastic duties
- I will make life decisions without the need to wait up or to save up or pay unnecessary dues.
- I want a home with pets that are fully insured and provided for.
2. How much passive income will it take for me to be financially free? (all bills covered)
- rent/mortagage $1500/month
- insurance/6 months $2000 approx. $333/month
- car payment $300/month
- gas money $75/month
- utilities $75/month
- phone $75/month
- clothes and shoes money $75/month
- savings $200/month
- KUMON $200/month
- family health insurance $300/month
- debt payments $400/month
- Grand Total Approximately $3600
3. What would you do with you time if you did not have to work?
- pursue all of my academic endeavors... my PhD in Mechanical Engineering
- travel with my family throughout the united states for 2 weeks at a time
- develop education endowment for my family
- take dance and guitar classes
- spend quality time with my daughter
- meditate, pray, achieve true nirvana
- setup/contribute to arts inspired aftercare programs
- i would NEVER RETIRE!! (i'm already living my dream)
4. How much money would you love to save passively?
- I would love to save a minimum of $7000/week = $28000/month = $364000/year
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