In the military, every unit has to have a mission statement. The unit has to have a reason to exist. It has to have a purpose. I believe need a mission statement for your investment portfolio. If you do not have a clear reason on why you are investing, you may be set off track.
My mission statement has changed between June 2019 and July 2020. My first mission statement was, “I want to invest enough money that I can life off the passive income comfortable in Turkey.” That was my goal. A family can live comfortably in Turkey off of $2000 USD a month. I then wanted to invest my whole military retirement into the portfolio. This was a good plan and it really got me thinking of way to create multiple income streams.
As I set out on my mission, I continued to read and digest even more of the happenings in the world. I started to investigate the current work culture and what are kids are up against. I slowly started to realize that our children will not have a fair shot out there. We, as parents, need to even the odds. My mission statement became, “To create an investment portfolio that can assist our children and grandchildren throughout their lives and allow then to have more options and TIME.”
Now it is time for you to create your investment mission statement. Why do you want to start investing? What are your goals? Why is this journey important to you? Write your mission statement down somewhere and keep it safe. Do not worry, it will probably change a lot, that is what we call personal growth.
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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