How much money do you want to earn in residual income each month? I’d really like to see $10,000 a month in residuals. How soon would I like to have $10,000 a month? I’d love to have it yesterday but I’m willing to be realistic.
Let’s say I want to earn $10,000 in monthly residual income 4 years from now (kind of coincides with my daughter’s high school graduation). By that time my hubby and I can buy our RV and live on the road experiencing the country. $10,000 a month in residual income could keep us in gas, food with a little extra spending money (okay a lot of extra spending money). Once we have toured the country we’ll hop on a plane and experience the world.
I spent a lot of time last month thinking about long-term goals and how to make them happen.
I had to look at where I am now, where I wanted to be and the road map to get me from here to there.
I’m currently at $2,000 in residual income and I need to increase that by $8,000 a month in 4 years (48 months). That means I have to increase my residuals by an average of $167 per month ($5.57 a day) for the next 48 months.
That’s a tall order, sort of. There have been months where my residuals increased as much as $400 and some months where it has dropped about half that amount. As long as the overall trend is upwards, I’m ok with momentary fluctuations.
What If I Fall Short (This is for folks who let their fear of failure stop them)
Suppose I only reach half of my goal and increase my income by $83.5 per month over the next 48 months. That means I’ll be earning about $6,000 each month in residual income. Not too bad for falling short of my goal. Falling short isn’t a problem, not trying to reach my goal is (don’t ever let the ‘what ifs’ stop you).
When I first started (and knew nothing about writing online), it took me 9 months to earn $16.25! If I would have given up back then I wouldn’t be earning what I do now.
Time to Get Serious
Now that I know what I want to do, I’m creating a realistic plan to help me reach my destination. I had to reign in my ‘all or nothing’ personality and tell myself this will be an enjoyable journey. After all, it’s a 4 year trip, might as well enjoy it. 4 Years is a long time to be miserable.
Planning and Modifications
August will be a time of reflection, study and planning. My initial thought was to begin writing as much as my fingers and voice recognition software could handle, but then I thought twice about it. It’s not about quantity (although a lot of articles do help); it’s more about quality, working smart and enjoyment (and being flexible).
This is a Heart-Felt Request
Please join me. Why not take some time and think about what you want for your life. Spend some quiet time and talk to yourself, your significant other, your family and plot out your dreams and goals. Think about how much money you need to earn in order to live the life you want to live. Then figure out how to get from where you are to where you want to be.
BTW, after spending a few days talking about our goals and dreams, my hubby has become even more encouraging and supportive. He gets the big picture and is willing to do his part in making it happen.