Times are getting tough, so it’s the season for some daydreaming. The only way to stay motivated through this impending recession is to focus on the outcomes.
Your dream retirement is a vital part of keeping you on the path. Now, more than ever, people will attempt to get you off your purpose.
So let’s take this time to dream about what’s important, our goals, what location, and who will be with us. Let’s begin.
Why You Should Learn Creativity & Design
The power of dreaming. It takes an untold amount of hours to reach your goals. Each day is a slow grind towards the destination you set in your mind.
If you do not have that constant motivation, you will falter. I have been writing every day for over two years. Some days can be tough, but most days, I am excited to write my articles.
I have a crystal clear vision of where I will be in the future. I want to achieve this reality, so I am putting in “the 10,000 hours” to create a great income stream.
My rich life. I have dreamed about the same rich life for over three years now. The funny part is I have already lived my dream day.
Don’t Fear Delegation
My goal is to be on the sunny white sand beaches of West Florida. I want to be with my wife, mom, kids, and grandkids. We are all on a sandbar, arriving by boat and basking in the sun.
Most importantly, we do not have to go to work the next day. Money is of no concern because we have passive income (dividends, rents, royalties) to pay our expenses. Life is good.
Reaching my destination. I can easily live this life today on the weekends. In fact, most people in their 40s are having amazing weekends or vacation trips.
However, my wife and I want this to be our permanent lifestyle. Why go to work when your books, dividends, and tenants can work for you?
Real Estate is a Mindset (Advanced)
Working towards an all-passive income life takes hard work, sacrifice, and vision. If you don’t have those three components, you will fail. Let’s take a quick look at these ideas.
- Hard work. You can work hard at your job, but you also need to work towards being an insider. That means owning real estate, a business, or content creation.
- Sacrifice. You must live below your means and commit your most crucial asset to the mission—your time. If you are a family person, this may be the most challenging part if you don’t see the vision.
- Vision. Seeing your dream retirement lifestyle will keep you on your goal. You WILL have setbacks and missteps. People will stand in your way. You have to keep grinding through it all and celebrate little wins.
Your dream retirement. Enough about my dreams, what about yours? If you want to succeed, you must dream big.
Too many of us limit our dreams to what we consider realistic. However, the bigger we dream, the better.
Orange You Glad You Have Passive Income?
The book “Think and Grow Rich” was my introduction to this “bigger is better” mindset. The book asks you to write down your dreams and read them daily.
It makes it seem like magic that you will start to achieve things you never thought possible—leading towards your goals.
The key to dreaming big. Your mind is a complex machine that you can train and grow. If you focus on a big mission, it will rearrange itself to achieve this goal. I will give you an example.
One of my missions. After reading “Rich Dad’s Guide to Investing,” I wanted to earn royalties by selling books.
Retirement Planning for the Average Person 2
The first month I started selling books, I made $3. I had no clue how to increase that to a larger amount of cash flow.
But, as I kept writing, reading, and staying focused, new ideas came to help me grow my income. This last month, I made $130 on Amazon. It may not sound like a lot, but that is 65 books sold without advertising.
It is challenging to sell even one book on Amazon. Now, I plan to keep growing this income stream indefinitely and add even more cash flow streams. But, it all started with that simple dream of creating royalties.
Selling Covered Calls for Passive Income
Starting to convert dreams into reality. After you envision your big dream retirement, what’s next? You must create actionable steps to guide you to your final destination.
This is the toughest part because you will not know how to achieve your goals. If you did, you would already be doing what you needed.
I would start by adding a monetary amount to your dream. For example, you need $15,000/month in passive income to live your dream life.
From there, you can review your income from a pension, 401K, and social security. You can add additional income streams (rents, royalties, dividends) to get you to your goal.
Should You Manage Your Own Rental Properties?
You can focus on activities. Another way to work towards your dream is by asking yourself what you want to do in retirement.
I didn’t want to be a writer, but I love it now. It is something I want to do for the rest of my life. What is something you can see yourself doing? Can you earn money by doing this activity.?
If you love sewing, you can sell your wares. Do you love to do woodworking? How about surfing? With the rise of blogging and YouTube, you can monetize anything.
Closed-End Funds vs. Preferred Shares
You can combine your dream activity with an income stream to create the ultimate lifestyle hack. The sooner you start thinking ahead and working towards the future, the better.
Conclusion. Most people have no vision or purpose for their retirement. This is why they move along slowly towards turning 66 and drawing social security.
Living Overseas on Retirement Income
They are in no rush to see their grandkids grow or travel the world. If you are reading this, you are different. You want more from life and retirement.
However, dreaming is just the start. You must build out steps leading to your success by choosing your income level or favorite activity.
In today’s world, if you can do what you love consistently, you can become rich. The hardest part of life is doing the same thing over and over. You may as well do something you love and get paid. That’s how you build your dream retirement. Good Luck!
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. 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. All Right Reserved Military Family Investing
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