Financial Goals

I was talking with someone today and were discussing financial goals. I realized after our conversation that there are many people who really underestimate their earning potential. If I were to ask you what you would consider a successful annual income to be, what would you answer, 100k, 200k, 250k? Many people seem to have trouble really getting beyond that 250k number. What if I told you that in 10 years you could be making 1 million dollars a year would you believe that was possible? Why not? How do you think the millionaires got to where they are? Do you think they just began making a million dollars overnight? In most cases it was an income that they worked up to. It is something they built. So why couldn't you do it? I think most people have a hard time imagining that amount of money. Here is an example of what I mean, let's say you make 100k a year, many people consider that successful. Now, how many years would you have to work to earn 1 million dollars? The answer is simple right, 10 years. In the average career span of say 40 years of working you could earn 4 million dollars. How many of you would say that is successful? Now let's go back to my question about the 1 million dollars a year after 10 years. Now what if I told you that once you were able to make that million dollars a year that you could repeat that every year for the next 25 years if you so choose? Now instead of 4 million after 40 years you have made 25 million plus what ever you made in those first 10 years after a total of 35 years. Would you consider that successful? Imagine what you could do for your life and the life of your kids and even your friends with that accomplishment. So when you are setting your financial goals there are a few things to keep in mind, one, "There are no unreasonable goals, only unreasonable deadlines", and two, do not limit your potential by underestimating your abilities. Here is a great quote that explains why so many people do not reach their full potential. "Our deepest fear is not that we are inadequate, Our deepest fear is that we are powerful beyond measure".


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Brian K