STARTING A BUSINESS NOW

In order to achieve financial independence, you need to develop a
clearly defined set of goals. A list of goals is essentially a wish list
of everything that you would like to achieve in the future.

For example: If you want to own five rental properties and a vacation
property in Cancun, your goals would include these two wishes. Of
course, goals at this point are not clearly defined or achievable; they
are merely a dream. What is needed to turn your wish list into an
attainable set of goals is a plan.

Before you can set goals, you need to identify them. Take some time to
write down the things that you would like for your future. Stay away
from vague goals such as “to be wealthy.” Instead, formulate concise
goals such as “to be able to retire” and “to be able to take care of my
family financially if I die.”

Do not be afraid of adding things to your list of goals that seem
unattainable. You may be able to make some things happen that you never
thought possible with a little bit of clever planning. If your goals
turn out to be unrealistic, you can make adjustments later.

Next, you need to figure out how much money it will take for you to
reach your goals. Let’s use the first example involving rental
properties. If you wish to own five rental properties, figure up how
much it will cost to purchase five rental properties using real estate
comparables in your area.

Be sure to allow for appreciation if you do not plan on purchasing for a
while. A house will cost you more ten years from now than it does today.

Now, you need to break your goals down into increments so that they are
easier to achieve. Break each goal down into short term (0 to 1 year),
medium term (1 to 5 years), long term (5 to 10 years) and longest term
(10 plus years). For example: If you wish to own five rental properties
in 15 years, your goal breakdown may look as follows:

* Short term – Start savings plan and contribute (blank) percentage of
income each week.

* Medium term – Invest savings into 10-year savings bonds.

* Long term – Pull money from retirement plan and cash-value insurance
properties.

* Longest term – Purchase rental properties.

Every goal that you can come up with can be broken down this way. When
you break goals down into easily attainable steps, they become easier to
accomplish. Breaking down goals this way also allows you to identify
goals that might be unreasonable under your present set of
circumstances. If reaching a goal requires saving 150% of your income,
you need to make adjustments in your current life to make your goal
possible.

Breaking goals down also gives you hope. By concentrating on one step at
a time, you can stop dreaming about your future and start taking the
necessary steps to make your dreams become reality.

You can use all these strategies to make money, reduce debt and improve
your life but it means nothing unless you can earn money without having
to work. Get my FREE passive money making secrets at: <ahref=http://www.the-richest-man-in-babylon.com