When it comes to investing normally you need to know what your ultimate goal is to determine how best to approach your investing strategy.
As this is still primarily true with investing in our group fund, it allows you to have a lot more flexibility:
- Initial deposit amount
- Weekly contributions
- Time to allow your account to grow
Early Retirement -
This goal is what I'm the most excited about for everyone, but also requires structure and dedication.
I recommend living off of half (or less) of what your weekly returns are.
This will provide a few benefits:
1. It continues to grow your account balance size and will provide more returns each week, increasing your weekly amount to take as income.
2. If there is a slower week and the returns are lower than average, you can still take a "normal" amount out without it effecting your balance and future weekly returns.
In the example I laid out above, the initial deposit size and weekly contributions are set at an amount achievable by most.
If a $100 per week seems like an unattainable goal, you can of course increase or decrease your initial deposit and weekly contributions which will allow for your goal retirement date to change.
A few ways to help you achieve your $100 per week goal:
Referrals - This is by far the easiest way to achieve your goal. If you refer over one person per week with the same goal to retire in 5 years, at the end of 5 years you will have approximately $2234.15 per week in weekly referral bonuses. You can of course refer over more people and those people can always start with a higher deposit or weekly contribution amounts that will drastically change your weekly bonus amount, but this is a good base line to see how much referrals actually add up over time. You can also make your weekly contributions on top of the referrals to increase your account size and reach your retirement goal faster.
Quit smoking - Not only does this add up quickly, it will also help you live longer to enjoy your early retirement.
Tax refund - Most people get very excited for their tax returns and spend the money on things they want, but if for a few years you take that money and put it to work for you, you will see huge financial gains.
Small sacrifices - This doesn't have to be forever, but making small changes in your weekly habits can result in extra money in your wallet every week. Put that extra money to work for you and you will achieve your goal faster.
Financial Freedom -
You may be one of the lucky few that love your career or job. You may not be looking to leave the work force, but still want the peace of mind of financial freedom.
This is a great situation to be in and allows for significant flexibility with your investing goal.
Essentially deposit how much you want, when you want.
Since you're not looking to replace your weekly paycheck, you can deposit any amount you want as often as you like. This will continue to grow and can be used if / when you want it.
Saving up for something / emergencies -
Too many people live paycheck to paycheck without having some sort of safety net if an emergency arises or something you want is financially unattainable.
This investing goal is another flexible approach but will establish the much-needed financial stability you need for when you need it.
Essentially deposit how much you want, when you want.
Gain Wealth -
If you are in this group, you're not looking for early retirement or financial freedom as you already have both. You have a safety net and most likely already have your money working for you.
Congratulations!!!! This is the goal I have for everyone.
Now that you have reached this point, you most likely have shopped around over the years to find the best returns with the least amount of risk. If you are looking to move some or all of your money over to this fund, we can provide both the best returns and risk protection possible so you can sit back, hands off and watch your wealth increase.
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