For simplicity, I (Mr.) used S.M.A.R.T. format to illustrate my investment objective:
Specific: Amount of Non-employment Income exceeds Expenses
Measurable: On a monthly basis (even daily), I should have faster inflow of money than outflow
Achievable: By investing actively, creating new income sources through content creation, online merchandising and offering services such as adult-teaching and technology consultancy.
Relevant: I work hard to get a higher quality of life for our families, and have the ability to buy things, eat, play and live without worrying too much about money as our family aged.
Time-Bound: Short Term (2022), Mid-Term (2026), Long-Term (2031)
To track progress, I will be calculating what X% my non-employment income portfolio can meet our family total monthly expenses, consistently.
Short-Term: By 2023, monthly non-employment income is half of monthly expenses ~$3000/mth
Mid-Term: By 2026, monthly non-employment income is double of monthly expenses ~$12000/mth
Long-Term: By 2031, monthly non-employment income is 4x of monthly expenses ~$24000/mth
Resolve Current Housing Loan ~$620K
Resolve Current Car Loan ~$42K
House upgrade ~$1.8mil
2nd Property ~$1.5mil
This is what our 2022 Monthly Expenses (transactions from Credit Cards only) so far:
Jan 2022: $5,767.09
Feb 2022: $7,707.65
Mar 2022: $3,878.23
Apr 2022: $6,397.75
May 2022: $15,234.98 (newborn!)
Jun 2022: $ ?
Jul 2022: $ ?
Aug 2022: $ ?
Sep 2022: $ ?
Oct 2022: $ ?
Nov 2022: $ ?
Dec 2022: $ ?
As for non-employment income, I can only start documenting from this month onwards:
Jun 2022: Total= $ ?; 4%= $
Jul 2022: Total= $ ?; 4%= $
Aug 2022: Total= $ ?; 4%= $
Sep 2022: Total= $ ?; 4%= $
Oct 2022: Total= $ ?; 4%= $
Nov 2022: Total= $ ?; 4%= $
Dec 2022: Total= $ ?; 4%= $
Have I met my goal yet?
Answer: Not yet. I plan to continue R&D more non-employment income methods while improving current stats.
That’s all for now, Refine later!