To be successful in this life, either personally, financially or otherwise, you have to have goals. It’s not just something our parents and counselors have been babbling about our whole lives; it’s a fact. Even those who aspire to be successfully lazy must set a goal to be adequately lazy each and every day! So as in any other endeavor, being an investor requires a little goal setting.
“If goals are imperative, then what goals shall I have?” you may be asking yourself. Whatever the goal may be, it must have some purpose, and it must have smaller sub-goals so you can consistently have small victories (a very real morale boost). I often run across people who choose $1 million dollars as a goal because they want to be a millionaire. But really what does that mean? A millionaire today is not the same as a millionaire in 1905, and will not mean the same thing in 2055. With an annual inflation rate of 3.5% for the last 80 or so years, a million dollars looses half its value every 20.2 years.
It’s frustrating to see such a purposeless goal — floating about without any foundation — because without a purpose a goal is just an arbitrary target that is too easily changed at a whim. A goal must have meaning and a foundation on something real. Fear not though, for I am here. I present, for your consideration, my milestones…
My Milestones
1. Total Investments of $150,000
2. Total Investments of $500,000
3. Total Investments of $1,000,000
4. Every-day Wealth
5. Uncommon Wealth
