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How To Create Income Projection Plan

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Posted on: 26th Jul 2014

Wealth Accumulation is a matter of time and timing. It is about knowing what to do and taking action. It is more about following simple guidelines, than it is about how much money you have. Money + Return + Time + Compound Interest = Wealth. Anybody who applies this formula will ultimately generate annual income of a million dollar or more.

Any amount of money with a suitable investment strategy and rate of return will generate millions in revenue. It is just a matter of coordinating time and risk in a workable business environment, to synchronize in perfect harmony.

On your journey to achieve financial freedom or freedom in any category that matters, realize that you must give in order to receive, you must learn in order to teach, and that it takes a conditioned mindset, a burning desire to change an existing state of affairs to achieve that which you seek.

 

The first step to get what you want is to know exactly what you want, and give others the opportunity to achieve the same. Devoid of an end destination in mind, your thoughts will wonder aimlessly without direction like a smoke on a windless day. If you do not have a financial income goal here is how you can get one; let�s figure out how much your desired monthly income will be. 

1). How much is your rent or mortgage? (Accommodation)

2). How much do you spend every month for you and your family upkeep? (Basic Necessity)

3). How much do you spend every month to maintain your family and your lifestyle? (Luxury)

4). Miscellaneous expenses equal 10% of all your expenses; add 1, 2, and 3 above and multiply the result by 10%

5). Gross expenses equal the addition of 1, 2, 3, and 4 above multiply result by 100

6). Projected retirement or monthly residual income equals the result of number five?

If you are not currently incurring any of the mentioned expenses, then how much would you want each and every one of them to be? The result of all your added expenses was multiplied by 100 to create a maximum output for your mind; even if at the end of your projected time period you managed to generate 10% of the required projected monthly residual income, you will have generated ten times of all your estimated expenses.



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