I started reading Think and Grow Rich by Napoleon Hill this weekend. Last week was a difficult week in my journey, so I needed an uplifting book. I have seen numerous posts in the past where this book has been credited with changing lives. Click the link above to get your own copy (Affiliate Link.)
This afternoon I am reading the chapter on desire. I have always thought goals important, and the book outlines how to take your financial goal and turn into the outcome desired. “Consists of six definite, practical steps:
- Fix in your mind the exact amount of money you desire. Be definite as to the amount.
- Determine exactly what you intend to give in return for the money you desire.
- Establish a definite date when you intend to possess the money you desire.
- Create a definite plan for carrying out your desire, and begin at once, whether you are ready or not, to put this plan into action.
- Write out a clear, concise statement of the amount of money you intend to acquire. Name the time limit for its acquisition. State what you intend to give in return for the money, and describe clearly the plan through which you intend to accumulate it.
- Read your written statement aloud, twice daily, once just before retiring at night and once after rising in the morning. AS YOU READ, SEE AND FEEL AND BELIEVE YOURSELF ALREADY IN POSSESSION OF THE MONEY.”
To apply this to myself:
- I intend to give up 8 hours per week. I will work an additional 8 hours on my “side hustle” to generate the income needed, invest and grow to $500,000. Considering the average person watches 4.5 hours of TV per day, I can reduce TV and other time wasters without sacrificing family time.
- November 1, 2043 (turn 66 in the month.)
- My plan is to have a side business (office cleaning), publish eBook (working on a book to write business plans) and offer information products on my blogs. I will need to save nearly $8,000 per year, but each year I do not reach, the amount will increase. I will invest all savings, primarily in quality stocks.
- & 6. Done!
What are your retirement goals? How are you achieving?