Thursday, July 3, 2008

Doing What I Have to Do, So I Can Do What I Want to Do

This is a great quote that comes from The Great Debaters. Single Ma over at Fabulous Financials applied this quote to her financial life and I believe that many of us can do the same. I have been thinking about this quote for over a week and realize that there are some things that I have to do so that I can do what I want to do.

Do What I have to do...
  • Continue building my emergency fund until it is up to $10,000
  • Diligently pay of car loan and student loans so that I can be debt free as soon as possible
  • Pay all my bills of time
  • Pay my credit card balances in full at the end of the month
  • Complete my Master's degree so that I can remain competitive in my field and have options
  • Save at least 10% of my income for retirement
  • Fully fund my Roth IRA
  • Every year buy 1-2 rental properties with positive cash flow
  • Continue reading personal finance and personal development books to increase my knowledge

...So I can do what I want to do

  • Stop working full time for 1-2 years so that I can begin working on my PH.D
  • Spend my time lecturing, teaching, doing freelance work, and writing books
  • Be able to fully fund and Educational Savings Account for my future children
  • Receive my PH.D by age 31
  • Buy my dream house in a community with Blue Ribbon Schools, and not have to stress over high taxes
  • Tithe and give to charities and not worry how I am going to pay my bills
  • Quit a job without worrying about my pension or retirement
  • Own my own business
  • Travel across the globe
  • Live prosperously knowing that my family tree is changed and I am able to leave a legacy for future generations
  • Take time out for a Spa Day at any spa (not just the one affiliated with the hotel I work at (because it give me a discount)

The things I want to do aren't really extravagant but I know that if I continue to do what I have to do these things won't be hard for me to fulfill. for me its all about planning ahead, practicing delayed gratification and putting everything on autopilot. In a few years I will be chillaxing in Barbados, truly living a prosperous life!!!

Until next time, think prosperous thoughts


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