January 18th is officially Martin Luther King Jr day this year. A federally recognized holiday in which we can all remember, reflect and appreciate what he did. What a great man he was. An amazing man really. He brought healing to a painful world and more importantly, hope! His leadership, bravery, voice and dreams helped bring together a nation to a more democratic and free state. Of course we do not live in a perfect world today but I do feel we are much better off because of him and am truly thankful for that.
His dedication, perseverance and values are what set him apart and his dedication to his cause is what let him to succeed. We should all learn from him and use the same traits to achieve our own dreams. So Thank you Dr King for all that you have done and thank you for inspiring others as well as myself to not give up and pursue your dreams.
Although my dreams are not ones that will change the world, they are ones that will change my world. Having the same drive and passion that MLK had will allow me to one day live my dream. You see my dream is to be financially free one day. To not have to worry about money and having the means to take care of my family. I wrote an article a few weeks ago about why I think passive income is the secret to happiness and this goes right along with pursuing my dream. I don’t know of any other way I can achieve this dream without passive income.
How will I achieve this dream?
I plan on achieving my dream to be financially free by using the same drive that Dr King had. I am on a mission to build a real estate empire and I will not stop until I have what I want. I only started my aggressive plan a few years ago but so far I feel that I am accomplishing my goal. In 2015 alone I purchased 3 rental properties and have increased my passive income streams to over $2,000 per month.
2016 Goals
Buy more rental properties:
I plan on purchasing at least 2 more rental properties this year but hopefully I can purchase more. My growth will not be as great this year because of new financial obligations I must do this year. Most of them have to do with the fact that I will be getting married this year which I am very excited about by the way. I love my fiance to death and want nothing more but to spend the rest of my life with her. You can read about how I proposed here if you are into love stories. 😉 If I can somehow manage to buy more than 2 rentals this year then I would be very happy.
Grow Cash Flow Diaries
Having created my blog has helped me reach new heights in terms of knowing what I want in life and how to get it. The motivation to keep writing articles like this and showing to you how I am building my dream is only driving me to be more successful. As you have seen in my blog income reports, the blog is bringing in a little bit of money but If I could figure out a way for it to bring more money, then it will only speed up reaching my dream.
Invest in the stock market
If you have read my net worth updates, then you know that other than some stock options that were granted to me by my day job, I have very little in the stock market trading world. I realize that being diversified in my investing is a smart thing to do and I am dedicated this year to putting some more money down in wall street. I am now finishing up my 2nd book on learning all about how to trade and what the stock market is all about. I have one more book to read and then I will feel comfortable to know how I am going to invest. Stay tuned for further updates on this but what I can tell you now is that it doesn’t look like it will be your traditional conservative nature of investing.
Combine income with my future wife
I will be married later this year which means that my plan now consists of being financially free for myself as well as my future wife. Thankfully, I was able to help her get out of debt last year so she has a clean financial slate now. By combining our incomes and being strategic about investing, I believe we may be able to achieve pretty good growth together. I have not yet decided or incorporated her income streams into mine but this is something I plan on doing later this year.
All 4 of these 2016 goals will help me reach my dream. They won’t be easy to achieve and it won’t be quick but I’m taking a lesson from the great Martin Luther and am not giving up until I achieve my goals.
What is your dream? How do you plan to achieve it?
That’s a mighty fine dream Alexander! The world is wide open for you and your fiance – what an exciting time. 🙂
My dream is to build a substantial NW of $10M within the next 12 years, fueled by my efforts to help others find success. To be honest, I’m not fully sure how it’s going to manifest, but I have faith that it will! Real estate and business income will definitely be a large component of this future equation no doubt.
Upward and onward!
Hi Micheal! The world is in the palm of my hands is and it really is up to me what I decide to do with it. I like your outlook on that!
I really admire your net worth goal. Knowing your drive and passion, I would not doubt one bit if you accomplish your goal even sooner then you estimate. It will be great to follow you on your journey to see how it plays out. Ill be keeping my eye on your blog.
Sure,its good to have “aggressive” dream. It will keep you on your toes. If financial freedom is your dream then you can easily achieve it goal setting and consistent planning, determination and total commitment. Its good to take lessons from people like Martin Luther King Jr. Wishing all the best of achievements this year!
Hi Sunday! Thanks so much. I agree that setting the goal, planning and having the determination to succeed will drive you to achieve your goals. The great Dr King is prime example of someone who can make things happen.
I too have a dream to be financially independent. I don’t want to work for the man my entire life.
Ha there is nothing worse then working for the man!!
Im lucky enough that I can do a bunch of blog stuff while at my day job so it helps me deal with it. 🙂
The road to financial freedom was never a straightforward path.
You have to work your ass of to make it happen, a dream will always be
a dream without doing something 🙂
Good point! Although dreams can come true, they can’t without the hard work and dedication so you are right on the money with your comment!
I also dream of being financially free! Best of luck with your goals!
Thanks Jen! I appreciate it. Good luck with your goals as well. Ill be keeping my eye on how you progress on your blog. 🙂
This post is so inspiring to being successful at life and being financially independent. My goal is keep increasing my net worth every year, which of course is easier said than done. I will be checking all of your other posts for great information like this!
Oh man thanks so much Tommy! If you have the drive to achieve this and think about it every day, it will happen! Its just a matter of time really. I cant wait for the day I reach 1 million for the first time with my net worth. Will be awesome!
Unless I missed it, what are your goals in numbers? E.g. how much per month are looking to get in passive income before you reach financial freedom? How many single family properties are you calculating to achieve this? Also, why not consider multi-family to get there faster (potentially)?
Hi Russell! Its tough to put a number on it but right now I want at least $10k per month with all debt and mortgages paid off. Im thinking I can do this with about 15 SFH rentals, probably less just depends because each rental is different. The rents that I collect vary from $750 to $1300 per month. When I get there ill just stop. Ive never been one to just put numbers on things, like i need 15 and im done. Im not exactly sure how many I will have when i reach that goal.
Right now I am really content with Single family homes but believe me the thought of having one big apartment complex one day sounds very intriguing to me. Im talking like a 60 unit or something big. Smaller multifamily does not interest me here in indy because they usually bring in lower quality tenants. I wouldnt be opposed to getting a smaller multifamily if the location was right though.
The true meaning of financial freedom is that money doesn’t own or control you. And over and over again it does, in such creative ways. Money has become the boss of all decisions for most Heart Centered and Spiritual business owners. Ironically completely stopping their service!