We’ve all heard it, mainly towards business owners, that if you don’t know your numbers, you don’t know your business. The same can be said for your personal finances and future goals.
No investor goes into property investing, thinking “I want to own 10 homes and then retire”. Though it’s very easy to say, if you have no purpose or plan, you are unlikely to achieve your goals.
One common misunderstanding about successful investors is that they are greedy and are only out for themselves.
But not all investors have become multimillionaires with mum and dad’s money.
No. In fact, many of our clients are mums and dads who are self made, with regular jobs, just like you, who want to do better for their family. And this starts by understanding their numbers.
Investing is a strategy, so to understand what to do, we need to understand what you want.
So, let’s look at it like this. If you plan to retire at 40 years old, and you need funds for 25 years to survive off, how much do you need?
Let’s make it easier. How much a week do you want to have in order to cover your basic weekly needs, and of course, have fun?
Is it $1500 per week? Or is it $2000? Maybe you want to live on $4,000 a week? Whatever it is, multiply that amount by 52 weeks and then the number of years you expect to be retired, and boom! You have your number.
In this example, we want to live on $2000 per week x 20 years of retirement= $2,080,000 nest egg
So now we have your number, we can begin to build and investment strategy to help you accomplish this.
Where to from here?
Now you need to find the right people to help you get there and at JR Prosperity this is exactly what we do. So get in contact with our friendly team today for a free, no obligation strategy session where we start to put the pieces of your puzzle together and help you understand the exact steps to take complete control of your money and your future.