My journey to financial freedom started two and a half years ago, when I purchased several thousand dollars of Apple stock and excitedly watched as it rose to a high of $200. Unfortunately, as an investing newbie, I got greedy, and thought that my 100%+ returns would keep happening well into the future, so I didn't sell. This past winter, after the crash happened, I sold my position in Apple and instead put the money (at a 20% gain, so it least it wasn't at a loss), into alternative energy stocks, which had fallen over 80% from their highs a year ago. I think the upside potential of these companies is enormous, and I only wish I had the resources to become a major player in the solar, wind, and electric cars industries. In addition, I have also started an online trading account with a small amount of money, to be supplemented with 90% of my summer earnings.
So here is my plan: At the moment, I just finished my first year of college. I will graduate from a prestigious college debt free, and with the option to enter graduate programs or (I hope) head straight to a well paying job. My short term goal is to graduate with $75,000 in the stock market, a goal I believe is attainable once the market starts to seriously regain its losses. Age: 22
After graduation, if I immediately get a job at around $80,000-$100,000 a year salary, I plan to live at home for the next several years, and buy rental property in what I think will be one of the US's most important cities in the next 15-20 years (and also an area with which I am familiar). Ideally the rent would be enough to pay the monthly mortgage bill, requiring no additional money from my salary. This will leave me free to save at least $50,000 a year from my salary to invest. After three years, I envision my stock market holdings having grown to between 400k and 500k. This will be collateral for a loan to finance a real estate development project involving my land and rental property holdings. I will either rehab and sell my rental property, and/or build new construction townhouses. I think a realistic profit to expect from this first project is somewhere in the neighborhood of $700,000. Age: 25/26
I will immediately embark on real estate development number 2, from which I think its reasonable to see a profit of 3-4 million. Also, by now my stock market investments (to which I will have added $500,000 from the profit of my first development) should be worth several million. Age: 28/29 (total = 5-8 million).
Now I will finally have the resources to venture some capital into startups, start my own business, and invest into other developments. Also, I am assuming that having millions opens doors into lucrative investment opportunities that are either out of reach, or not even even known to someone without that kind of financial resources. I think the first part is the hard part--once you get the first millions money comes more easily.
Ultimate goal: 35 million by age 35.
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