Financial independence in 3000 days?

21 Nov

So why 3000 days you may ask…..

3000 days was chosen for numerous reasons, all of these are explained below:

  1. It was achievable yet challenging: we wanted a target that was far enough away to be achievable but also close enough to be challenging. We want to actually reach our financial goals and we figured we could do this 8 years time.
  2. We wanted time to get our house in order: we are officially kicking this off from 1st January 2018 so you could call it a new years resolution (decided early). This I gives us enough time to start this blog, consider different strategies, consider discussion topics and generally think about ways we can save more and earn more.
  3. I always had a goal to retire by 45 years old: I always considered this a pipe-dream but now I am putting these plans into action and making this pipe-dream a reality. No more excuses, no more dreaming, it’s about time to do some doing!
  4. My son will still want to hang out with me: after 3000 days or 8.22 years my son will be 12 years old and hopefully still young enough to see his dad as cool and want to hang out with him. Fingers crossed anyway.
  5. Finally, 3000 days has a nice ring to it

So how are we going to get there? Here are some rough goals for the years ahead

2018: Seriously reduce expenditure, develop a side hustle (side business) which creates a small second income, start saving 20 – 40% of our after tax earnings.

2019: Grow business, create a third income stream, possibly buy a cheap investment property, invest in dividend paying shares. Increase savings to 30 – 50% of our after tax earnings.

2020: Grow businesses, possibly buy a second investment property, continue to invest in dividend paying shares. Increase savings to 50% of our after tax earnings.

2021 – 2026: Repeat the above over and over again

As Robert Kiyosaki said in Rich Dad Poor Dad - The wealthy buy Assets and the poor buy Liabilities. This will form the basis of our path to financial independence.

Some recommended reading/sources of information:

Rich Dad Poor Dad – get this from your local library

Mr Money Moustache – The best FI blog out there

Choose FI Podcast -

Cheers, Mr 3000

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