06 September 2005

Introduction

Why did I start this blog? Well, there are 2 reasons…the first one is, I work for my employer, and I have learned, as others have too, that working for someone else is not the way to get rich and retire. Reason #2 – I want to be able to put money away for my retirement, and be able to enjoy my life when I get older.
So what’s this about? All the information I have ever seen or come across, has always shown you how to make a million, or that a small fortune has been made, after the fact…that means, it worked for the author, but not necessarily will work for the person that buys the book! Some of the aggressive strategies suggested in these books are time-sensitive.
The basic premise of all “road to financial freedom” or “freedom 55”, is that you must pay yourself first. In order to pay yourself first, consider the account you set up as a regular bill deposit. “Pay to the Order of Me” fund. Through the life of this blog, I will be contributing $200 every 2 weeks to my “account” – this will be my working capital, and I will make various investments, high risk ventures, anything at all (legally), to increase the net worth of my account.
In addition, in order to make this work, we must be disciplined. We have to set limits around gains and losses, and have a goal in mind. It is my intention that I reach a net worth in my account, worth $1,000,000, and I plan to have this net worth before I retire, which, is in 13 years at the earliest.
The changes to the net worth in the account will be reported as total deposits (my regular contribution to the account of $200 every 2 weeks), my gains/losses for the period, and the net return excluding capital gains tax implications, but including fees, costs, etc. associated with any transactions.
So, without further ado, if you would like to watch as money grows, the first deposit will be made on October 1st! A running balance of the account will be kept in the sidebar and the date, in order to track the changes. As time progresses, I will update the blog with notes, and anything that relates to the change in net worth.
Feel free to start your own account, and use any amount you wish to start! If you follow the strategy I lay out, then you will also see the returns I will get.
I will be posting different aspects of my strategy, from what I think will do well in the short term, the long term, speculative markets, and other information that I use to make my decisions. The decisions will be posted before I make them, therefore making this blog, the pre-emptive strike to the increase in net worth!
I will be taking some time to prepare information for this blog over the next few weeks. As I prepare, I will post, and let you know what to do with it, or how it is relevant.

Up Next Blog – Details of my financial situation

Until next time, let’s make a million!

1 comment:

yamstone said...

im in!! make me a million. I am going to keep an eye on this and will be making a deposit on Oct 1!!