We’ve all heard of Walt Disney whether it be because of movies, theme parks, characters or all of the above. The more I read about Walt Disney this was not an accident. Lately I’ve been writing about having a life plan. Does anyone actually do this?
The image above was put together by Walt Disney himself. Its Disney’s corporate strategy as of 1957 and his version of a life plan but for Disney itself. Here is a link to more info. At the time of putting this together Mickey had been around for a while but it was 14 years before the first park would open up.
Think about that for a moment. Walt Disney largely followed the same plan for quite some time continuing to chase down the same vision. Seeing Walt’s version I wanted to think through my own “Disney”.
What will my life look like financially? How will that affect my lifestyle? Here is my life plan broken down into different areas I want to focus on at different stages of life. Its all about growing that money monster and keeping the focus in the right area.
I broke this down into 5 stages. I think I will focus on each one of these areas for 5-10 years to try maximize the potential out of it.
Focus 1: The gap between my income and expenses.
Most people wouldn’t think of this first but I want to optimize my monthly cash before moving onto to much. Over the past 7 years in the real world I’ve done this as much as I think I can. Its not perfect but it would take a significant investment of my time to get too much better.
Focus 2: Investments
I started investing in my 401k as soon as I could. Next, I dug into what I should be investing in through resources like JL Collins stock series and read a lot of books to ensure I felt comfortable with my plan of investing. Right now I have a 401k, Roth 401k and Roth IRA where I stash my money for retirement.
While I may revisit this one when I start investing in taxable accounts, I am considering this one complete for now.
Focus 3: Digital Assets
This blog is my introduction into this area. I want to learn how to start and grow an online brand in hopes that I can do it for this website as well as others. I may start others or may acquire others.
My hope is that by spending 5-10 years in this space I can become a master at it and be able to grow some income on the side.
Focus 4: Real Estate
I wont dig int this one for 10-15 years but think it will eventually be a key piece of my net worth. While many view real estate as a way to grow your net worth and create passive income, I’d rather do that in other ways like growing my income or digital assets.
I view real estate as a way to take some risk off the table and create monthly income.
Focus 5: Business Assets
This one may never come to fruition but I hope it does. I hope that by the time I’m ready and able to retire (around 50-55) I will be able to start my own business and cash in all the knowledge, experience, and net work I have obtained throughout my career.
There you have it. Thats my plan as of now. Its not exact but it does show me one thing. I need to put in the work on this website. Right now everything else doesn’t matter. Real estate doesn’t matter, other business interests don’t matter, and I need to focus.