Account Balances Now and Later
When I look at my account balances, I currently see this:
Within the next three years or so, I plan to dramatically increase those amounts. I am currently working on several business deals and hopefully have more on the way.
In a few years, it is very possible to pull up the same screen and see these account balances:
Perhaps one day I will look back at this and laugh how high or low I set my sights.
Until that day...I'll keep charging forward.
And when that day comes, I'll keep charging on.
-Nev
Within the next three years or so, I plan to dramatically increase those amounts. I am currently working on several business deals and hopefully have more on the way.
In a few years, it is very possible to pull up the same screen and see these account balances:
Perhaps one day I will look back at this and laugh how high or low I set my sights.
Until that day...I'll keep charging forward.
And when that day comes, I'll keep charging on.
-Nev
posted by Neville @ 1:03 AM
34 comments
34 Comments:
I've always read that people who a) are CONSTANTLY motivated and b) write down their goals and then put them in a place where they're easily reminded of them are most likely to see them come to fruition.
I am a little worried, however, that the largest "future account balance" is your stock account. I think that's being a little unrealistic. After the huge run-up of the 90's (even if we did "crash", we're already close to those highs again), I think it's most likely that we run in the same place for a while. I wouldn't be willing to bet that in 2008 the equities markets are materially higher than they are now.
Good luck & stay motivated!
So, back in your court Neville. How do you plan to obtain these goals?
Pay no attention to the nay sayers. As a Certified Financial Planner I know a large percentage of the North American Population, who are lot older than you, have very little savings and many have a negative net worth. Many a business person has invested in opportunities that resulted in 100,000% gains. Bill Gates...comes too mind!
Risk versus Return!
Cheers,
Lee Raito, CFP, FMA
www.HoloProfit.net
I have to say what are your goals, do you have any, if you don't have any goals and a game plan you will never get to where you want to be because you don't know what you want to do.
I have had many people tell me also to write down your goals. Even if at first they seem out of reach it doesn't mean they aren't possible.
Like I've mentioned before, I have multiple deals going on right now. I do not post any details about these deals, but I assure you they are MUCH larger than anything I've ever dealt with thus far.
All of these are under strict Non-Disclosure Agreements.
I am working with some very large names, and if all goes even DECENTLY well, it is VERY possible I can generate the infamous first million within the next three years. Trust me.
Give me 1095 days to prove myself. If it doesn't happen by then, you can have a laugh at my expense.
-Nev
Quote,
Anonymous said...
.....I've never heard of a non-disclosure as strict as yours.....
What do you think non-disclosure means?
What if he has a brilliant idea. An idea that is so good it cant fail. He goes and gets a patent for it than goes looking for a "buyer". He sells the rights, for lets say a million+ dollars. Oh, well now he has his million.
Quote,
Anonymous said...
.... You have the potential to make a lot of money, but please don't tell us you're going to be a millionaire overnight....
So you think 3 years or so is overnight? Neville, just show these people how its done.
Dave
whether its realistic or not, only Nev can really tell.
still, people are alawys so quick to naysay.
Most successful people I have met have set non-monetary goals for themselves, their goals were more process and end result oriented. I believe goals are essential but I view money as a byproduct of enjoying the process & the work. Pure $$$$ signs and greed very often do not bring the desired outcome. Just my own opinion. Best of luck.
My current deals are not simple as yours sound. I didn't say I would be a millionaire overnight, I said it would happen in three years. And like Dave said, "What do you think non-disclosure means?"
Dave,
In 1094 days we'll see if my goal comes true!
Quant Trader,
I've seen the "million in three years thing" done many times. Unfortunately I've seen the "Going back down to zero in one year" thing happen also!
Cap,
You're very right....with the scant details I've posted here, no one can judge if this goal is realistic. I'll have to prove it with results.
Anon,
As I've mentioned, my current deals are all confidential for the moment, so I cannot share my actual goals in such a public arena.
The money goal is just a method to keep track of the progress (Although yes, it is also a BIG motivating factor). I am very excited about the deals I'm doing right now....I go to sleep everynight thinking about ways to improve them all.
I love the work I am doing, the style I am working and the people I am working with. One of the more important things, I am LEARNING so much...it's amazing what you can learn when you are forced to complete a task.
-Nev
I have worked 9 years, and I am more than halfway there. As a family of 2, we are 8/10s from there. We estimate we will get there as a family in one or two years.
I do not know how Neville will get there in 3 years. But I do see how having the knowledge I have now I could have had more money faster.
I could have done smarter real estate deals, or in different states (California for example). Sold the stocks at a better moment, bought some at a different moment, bought more of that one, or less of that other one. Used stock options in a wiser way. (the ones I did where good, but not IMPRESSIVE).
I didn't. And I attribute most of that to the fact that I was (and I am still) not as financially educated as I would have liked. Another reason I am not there yet is because I just don't have good luck. :)
Maybe Neville knows a lot more than we do not know. I will keep reading his blog trying to extract wisdom.
3 years... sounds ambitious... Maybe even naive... 10 years... I am sure this guy will be a millionaire (in today's dollars) in 10 years. No doubt about it.
Your post, gives me a good question I ask myself when goal planning every now and again. When does a person know whether a goal is resonable or just a naive dream? A goal in my mind is measurable within a concrete timeframe. I'm not saying nev's goal is a dream or if it is reasonable goal, but I could easily say myself. I want to be a millinoaire in 3,5,10,12,20,100 years, etc... How do I know what's feasible for myself and what's just a pipe-dream? What moves a goal into an actionable item?
Nev --> without giving us details, why are you so confident that the goal is reasonable and not a pipe-dream?
Not saying Nev won't get rich, but considering his current finances, he doesn't have the ability to finance shit right now so someone else is bankrolling this mysterious venture. No problem there, but it indicates this is a speculative business opportunity....definitely not a sure million as Nev would like to believe.
"Shake dem haterz off" nev
perhaps it is realistic...especially if your parents are helping you out with financing college, bills, etc...
As for Neville. I like him and I like his blog, however determination alone doesn't make you rich. If making a million dollars was as easy as reading a book by William Buffet and having a strong work ethic, everyone would be driving Porsches.
If you are really going to have a million dollars in cashable assets, you better plan on having a multiple of that in equity -- I doubt that at your age you are going to find any kind of opprotunity that is going to pay you that much in "cash" alone.
In any case, just an observation.
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