Just Fly Me To The Moon

I find real estate exciting, but what I find more exciting is using real estate as a vehicle to achieve financial independence.  When I'm hunting for properties, I'm really looking for investments that will give me the freedom to choose how I spend my time.  I'm not there yet, but I'm working through the stages to launch my own net worth rocket.  

Get Some Momentum

This first stage is all about creating the gap between your income and your expenses. Volumes have been written about techniques for mastering your self control but it’s all about saving up some cash every month. Maybe choose the hard way on purpose some days. Or get ahead by watching TV, strategically.  At some point you are in the enviable position of consistently spending less than you earn.

Airplane

The next stage is launching your net worth like an airplane. Jim Wang talks about breaking free of “financial gravity". Spending pulls down. Income thrusts up. You need sufficient income to take off. At some point you’ll either reduce your spending, increase your income, or both and you will be able to start lift off.  It gets easier and easier to lift higher as you gain momentum.

Rocket

Your goal is the rocket phase! This is when your passive income is lifting you more than your active income. Oh yeah!  This is when you’re earning more while you are asleep than you are at your day job. This is financial independence, with a positive savings rate even if you choose to stop earning active income. You’ve broken free of financial gravity.

10… 9… … 3… 2… 1… lift off!

Help someone else launch too

Don’t stop there. Now help someone else launch their own rocket. Maybe even cheat a little?

What are you doing to launch your rocket?