Journey to Financial Freedom for 2013

Investor Monkey - Investment Words

2013 is the year when I embark on my journey to financial freedom.

My final goal to financial freedom is as follows:

  1. Achieve monthly passive income of $10,000.
  2. Achieve monthly trading income of $10,000.
  3. Own 2 properties (1 as my own residential and 1 for rental).

Not sure if my goals are unachievable but this is what I intend to do to:

  1. Forex Trading is one investment instrument that allows me to see the money quick and due to the low amount of savings I have for investment, Forex trading seems to be the best instrument for me to generate substantial amount of trading income (due to the leverage).
  2. Dividend Stocks Some companies give out dividends to their shareholders. These dividends are part of the company’s profits and the dividend yield could be as high as 10% (depending on purchase price).
  3. REITs Investment in REITs (Real Estate Investment Trusts) is just like owning the properties personally and rental yields are given back to the investors in terms of dividends.
  4. Rental Yield from Property Acquiring residential properties for collecting rent is one of my final goals in financial freedom. Rental collected from the properties can make up a large portion of my targetted passive income, depending on the size of the property. However, problem with this is, I have not gotten my first property meant as my own home! That means, I have to make more money via my tradings to shorten the time required to attain financial freedom.

Lesson learnt from the early days of my investment days:

  1. Cut down on spendings By cutting down on spendings means that I will have more to save and therefore I will have more to re-invest.
  2. Always re-invest Profits from forex trading can re-invest into dividend stocks and REITs to generate more passive income. When possible and with the right timing, use the profits to re-invest into properties.

Well, I hope that I will be able to achieve my goals.

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