My Financial Journey Sumarry
Updated 1/28/2021
This is my Financial Journey Summary as I work towards having my own businesses and investments replace my income. While I am recently (December 1, 2020) decided to start this Journey I have a slight head start as I have non-retirement income from a side hustle and dividends.
I have a target of 20% of income by the end of 2021. Currently, I am on track to replace 15% of my salary based on projections.
Breakdown of My Replacement Income Revenues
Of course, I will be happy having my income replaced by any venture but my ideal goal will be to be diversified with multiple income streams. Let’s see how this all works out.
Business Prospects
- Furniture Flipping
- Rental properties
- Buy a Business
I am always on the hunt for a new venture and honestly like half of America, I have come up with reasons as to why this will not work or that won’t. It is time to start working on trying to build up some business ventures and get something going!
Random Thoughts from Andrew
So the big thing I will leave everyone with is my focus is building income revenue streams rather than expense cutting. I realize you can hit financial goals by saving 60-80% of your salary but with a family and obligations growing my income while maintaining my lifestyle is the preferable way to do this financial journey for me.
