Road to 5 million: Intro (part 1)
Context
The only goal I have not achieved in my life is financial freedom. So I guess, the best time to start is now.
I always prefered living on fringe frugality, and I would be glad to quit my job and continue doing so. But now, I have a long-term partner and, as I approach 26 years old, it is time to start thinking about family.
Do I want my family to live frugally? Hell no. I want them to travel, get a good education and grow up in a warm climate, full of fruit trees. While I spend most of my time with them (not working).
Lets begin.
The goal
Here's a promise: In less than 9 years, I will be retired, chillin with my gf and kids on a farm, travelling at least 1/3rd of the year. This is my reality.
I am going to build a solution to a problem that ultimately creates 5 million euros of value before I reach the age of 35.
Why 5 million? Because at a very conservative annual return rate of 4%, the index fund would yield me 200k/yr (before taxes). That is more than enough, not only to survive, but to continue building future wealth for the generations to come, after I grow old and die.
How am I gonna do it
In a vast sea of books, I don't think my chances of becoming the next J.K. Rowling are great.
But, because I put my time to good use, I am going to build a business with code.
My plan:
- Find a problem.
- Create a solution.
- Market the solution.
- Get feedback.
- Improve solution.
- Go back to step 3.
We are making proper solutions to existing problems with long-term goals in mind. There is no audience to sell to, no brand, no investors or VCs, and none of that "indie hacker SaaS launch in 3 weeks" shit.
What if you fail?
Here's the good thing: I have unlimited tries. And I only need to succeed once. Read that again. If I make 10 businesses, fail 9 times and succeed once - that's it. I win. Is that true failure? No. Those previous times would be considered as learning experience.
True failure is giving up.
What's next?
The first step: finding a problem. Stay tuned.