What Is Your Net Worth Or Passive Income Goal?

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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes

This post was just inspired by @Jason Scott who just posted on FB how most people will never achieve $10 million, $100 million net worth etc (and theres nothing wrong with that) (Also, in like a decade on here Ive never been able to tag Jason even though I have super power moderating capabilities).

So I was curious what is everyones net worth goals? Or your passive income goals? My net worth goal is $7 million.

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Bjorn AhlbladPro Member

Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes

@Russell Brazil I am 75 so no empire building. I have a net worth of about 4 mil and 8k rental income. I have 2 goals left: 1. never learn to say "Welcome to Walmart" and 2. never learn how to operate a cash register!

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Brian Briscoe
Real Estate Coach · Salt Lake City, UT · Member since 2017 · 273 posts · 414 votes
6y
First goal is to replace my current income post-retirement (active military retiring in 2021). Looking for $120k annual so I can keep supporting my family. I'm a syndicator, so will be working hard to do this (though not all passively).
Next goal is to hit $200k passive income (financially free) while giving back as much as possible.
Overall goal is about a $10M net worth. No reason for that number, it's just sexier than $7M...
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Account Closed
Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
6y
Originally posted by @Brian Briscoe:
First goal is to replace my current income post-retirement (active military retiring in 2021). Looking for $120k annual so I can keep supporting my family. I'm a syndicator, so will be working hard to do this (though not all passively).
Next goal is to hit $200k passive income (financially free) while giving back as much as possible.
Overall goal is about a $10M net worth. No reason for that number, it's just sexier than $7M...

You look like merl are you brothers
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Account Closed
Investor · Singapore · Member since 2013 · 1k+ posts · 3k+ votes
6y
Interesting discussion. I decided to drop out of the corporate world since last April (at age 52). I am still drawing income from the severance and will continue to have some stock options etc vest in 2020 and 2021. But apart from that Ive set up an income stream of about $7K/month from rentals, some private funds and other investments. This does not count stocks/bonds/IRAs etc. If I wanted to I could comfortably pull 12K per month. Of course this was pre CoVid so it remains to be seen how sustainable the $7K is. But Ive got a thick cash reserve so I think I can ride it out. But the important thing is I have changed my lifestyle to the point that my fixed costs are in the $4K range. The extra $3K per month was the travel budget. Im sure not spending that this year (although last year I did a lot). I think I have accomplished my goal of making work optional. I will probably get back into something at some point in the near future, if the world does not indeed end.
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Matt Ziegler
Rental Property Investor · Colorado Springs, CO · Member since 2020 · 433 posts · 284 votes
6y
Our goal is to replace w-2 income with cash flowing properties within 3 yrs. so we can continue build our portfolio. Figure that will take at least 10 properties, we currently have 4.
It is nice to have this goal to keep us focused on, learning more, helping more,and building assets. This, or something better in the future!
0 Reply
Mathew Tomas
San Jose, CA · Member since 2020 · 5 posts · 1 vote
6y
@Russell Brazil my goal is to have a real estate empire im 21 and I plan to be a multi millionaire by 27
1 Reply
Edwin Sequeira
Member since 2018 · 6 posts · 0 votes
6y
Our goal is to generate about $120K in income per year in our retirement. We would like to do this with a mix of real estate, stock/bonds and a "lifestyle" business ie something that we really enjoying doing to keep our minds sharp in retirement. Ideally, that translates to a net worth between $5M-$7M which would be very safe compared to our annual spend.
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Mary M.
Rental Property Investor · Portland OR · Member since 2018 · 2k+ posts · 3k+ votes
6y
Wow what a great thread! I have to read it all the way through, but wanted to say i dont really have a net worth goal, i just want to keep increasing my income.

Currently i live off my investments, I am (fingers crossed) going to have +/-20 units here shortly and my goal is to dbl this in 5ish years

i owned my just sold asset free and clear and buying with about 55% LTV which will get me a bit closer.

My current net worth is 7 figures, but whose counting?? ;)

1 Reply
Mike Westen
Investor · Chicago · Member since 2020 · 13 posts · 9 votes
6y
Don't care about net worth. Main goal is 1million+ cash flow a year.

Boats, Hypercars, Big Houses, Women

Basically want to live like a baller but without the fame. It all adds up

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David Atkinson
New to Real Estate · Orlando, FL · Member since 2020 · 2 posts · 1 vote
6y
I've never thought about attaining a certain net worth. As for passive income goal, there's no set numerical goal, the sky is the limit. It just needs to be enough to vacation on a monthly basis and not be forced to answer to anyone.
My goal is a lifestyle more so than a number
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Jon K.
Rental Property Investor · Perry Hall, MD · Member since 2016 · 592 posts · 608 votes
6y
Cash flow of 10k/month from passive (or mostly passive) income with no non-investment debt. Currently at about 2k/month so we got a ways to go. Couldn't care less about net worth beyond what I need to show on paper to continue getting loans.
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Casey Rolland
Investor · Port Townsend, WA · Member since 2014 · 103 posts · 50 votes
6y
My 5-year goal is $15K/Mo with $3.5M Equity & pay off all the mortgages on existing rental properties which will allow my hubby to reduce his working days from 5 to 4 days a week. I feel bad that I am playing tennis 5 days a week and he is working... :-)
My 10-year goal is $20K/Mo with $5M Equity which will allow my hubby to retire when he turns 60. At that point we won't feel bad paying health insurance out of our pocket.
I also plan on helping my 'functioning' children with rental property purchases on the way.
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Ujwal Velagapudi
Investor/Agent/Entrepreneur · Dallas, TX · Member since 2016 · 464 posts · 564 votes
6y
My goals are constantly being updated, and the bar is being set higher. Financial goals used to be my primary focus when set goals, but now they've taken the backseat to overall health, family, wellness, etc. In terms of business, my goal is to take a small company and scale it to an international level, I'm not necessarily too focused on the personal financial aspect of it.
As of today, my aim would a $10M/yr income by the time I am 40 (12 more years). I plan on doing this with both businesses and real estate, so I wouldn't call it fully "passive" but most of my investments have always been passively managed. I do not have a long term net worth goal since I believe it should be a rolling figure, but in the short term I would like to break into the 8 figure mark within the next 5 years.
2 Reply
John Cornelius
FL · Member since 2019 · 73 posts · 54 votes
6y
$9000 a month in net cash flow from my properties. Then I'll re-group and set another goal.
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Mary M.
Rental Property Investor · Portland OR · Member since 2018 · 2k+ posts · 3k+ votes
6y
Originally posted by @Account Closed:
Im disappointed. Im figuring you heavy hitters were way past $10,000,000.

10M what? Net worth? Value of RE owned? Does it count that I am currently working on 6.8M deal?? that of course does not mean my net worth would be that much - that amount is the amount of assets-liabilities. So many folks have a net worth a lot less than folks think ;)
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Mary M.
Rental Property Investor · Portland OR · Member since 2018 · 2k+ posts · 3k+ votes
6y
I want to add that when folks think about net cash flow it helps to think of it as value of assets providing that cash flow - it will help clarify what you will need to get you there .... for example 10k/month is 120k/year which at say a 6 cap would be $ 2 million in asset valuation....
1 Reply
Juan Castro
Investor · Chicago, IL · Member since 2017 · 15 posts · 5 votes
6y
I think we all want millions. I mean who wouldn’t. However, for me, my goal is to building passive income every month. My goal would be around $8-10k. I did the math and this would cover all living expenses and leave room for reserves and non-essentials.
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James Williams
New to Real Estate · Charlotte, NC · Member since 2019 · 73 posts · 46 votes
6y
@Russell Brazil I definitely have a goal of over $10K a month passive income and a net worth of about $3mil+. Then I will really ramp things up.
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James Williams
New to Real Estate · Charlotte, NC · Member since 2019 · 73 posts · 46 votes
6y
@Russell Brazil I definitely have a goal of over $10K a month passive income and a net worth of about $3mil+. Then I will really ramp things up.
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Anthony Wick
Rental Property Investor · Ankeny, IA · Member since 2017 · 2k+ posts · 3k+ votes
6y
@Russell Brazil
My main goal is to retire early. I will be retiring at age 54 in three years, with a full pension from the federal government (luckier than most).
So, by 2023 I will be collecting a nice pension and have a net worth in the $1 mil range, and that pension will pay me well above $1 mil, if I just live another 20 years.
I’d say that money, plus some passive income from rentals and other investments means I’ll be living a pretty good life, hopefully for 20-30 years.
I could easily keep working and building my wealth, but I will have “enough”, and want to enjoy more free time.
Financial freedom is the ability to do what you want, without money getting in the way.
3 Reply
Anthony Wick
Rental Property Investor · Ankeny, IA · Member since 2017 · 2k+ posts · 3k+ votes
6y
@Anthony Wick
Should I also mention I experienced a 40% downturn in 2008, 50% downturn in 2013 (Divorce), and the on-going downturn this year?
In other words, since I’m somehow still retiring at age 54 in three years, life is good....
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Account Closed
Realtor · Portland, OR · Member since 2020 · 87 posts · 43 votes
6y
@Russell Brazil CASHFLOW WAS 8K A MONTH GOALS. NET WORTH ESPECIALLY IS YOU UAVE A BUSINESS, IS BLUE SKY. CASHFLOW OVER A 3-5 YR PERIOD IS A BETTER ESTIMATE IMO.
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Account Closed
Realtor · Portland, OR · Member since 2020 · 87 posts · 43 votes
6y
@Bjorn Ahlblad HA! Great goal—- No Working at Walmart for you ;) Congrats on a successful investing life. Enjoy yrself. And the beautiful weather here today in the NW!
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Jessie ReddPro Member
Flipper/Rehabber · Raleigh, NC · Member since 2018 · 57 posts · 26 votes
6y
@Russell Brazil
10,000 passive income. I am almost there. I enjoy being financially free. I spent the last twenty years in the service. I missed a lot of holidays and birthdays with my family. I would say I am pretty much retired now so I get to spend time with my younger kids and my wife now. I invest full time. I came from an impoverished family so I enjoy being able to help out my family and community.
I am now focused on paying my primary residence off and continuing to acquire free and clear properties. I spend a great deal of my time mentoring my older children and others on their journey to financial freedom. This is something I will do until they throw dirt on me.
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Kelsey Folger
Rental Property Investor · MI · Member since 2018 · 51 posts · 64 votes
6y
Our first goal is to replace my husband’s income from his day job, around $3000k per month. We are halfway there with 7 units. We just started investing in the past year at age 29.
Our next goal would be more units, probably 5000k net per month, which would add more security to consider leaving his job.
Ultimately, we hope to build wealth and teach our four kids about the value of hard work and entrepreneurship. Teach them how to bless others because we have been blessed. Teach them to value even the lean times (like now with this pandemic).
3 Reply
Charlesa F.
Rental Property Investor · CT · Member since 2017 · 24 posts · 17 votes
6y
@Russell Brazil at a minimum I want my passive income to be $5000 a month. I just want to see my first million in the next 2 years, that will inspire me to go for my next million, and so on. For every third property, I'd like to have one paid off. I currently only have my primary residence.
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