Getting a Fast Plan
I was skimming Rich Dad’s Retire Young, Retire Rich book by Robert Kiyosaki over the weekend. Robert was talking about planning for financial wealth. There is no way ever (besides getting an inheritance or winning the lottery) that one can become rich without having a plan. Even not having a plan is a plan. I don’t want to leave my fortune up to fate so if I want to turn my big dreams into reality then I need to have a financial plan. I can change this plan and it doesn’t have to be perfect to start off with but I need to start working the plan as soon as possible and stick to it.
Robert talks about whether the plan is fast or slow. A slow plan entails saving, working for someone else, investing in stocks for the long term and working hard to give 50% away to the government. A fast plan is all about making money and leverage. So I think the little plan I have made is pretty fast.
I have started a small five page (so far) plan for the next five and a half years (exiting when I turn forty in 2016). It comes with four mini plans.
Plan One is all about making a living wage as soon as possible (within 8 months) (living wage plan).
Plan Two is all about the next level of wealth where I am earning a million dollars a year (automatic comfort plan).
Plan Three is all about the next level of wealth where I am earning a million dollars a month (reasonably wealthy).
Plan Four is optional , I can retire or go to the next level by earning ten million dollars a month (unreasonably wealthy plan).
For each plan I have set out why I need to succeed with the plan, the key milestones, a simple strategy, challenges I will need to overcome, resources needed, why I will succeed and what I will do with the money once I have realized the plan.
I have fleshed out Plan One, am working on Plan Two but have no idea yet how I will plan or even achieve Plans Three and Four. But most importantly, I need to achieve Plan One.
No doubt when I look back as my future self to this present self (and what I am writing and dreaming about) I will be thinking ‘what was I thinking’. But I don’t have the experience or knowledge that my future self has so I am quite willing to write the wrong thing, do the wrong thing and take the wrong path knowing that even failure will aid in me in my journey towards
