My Financial Gameplan (2020)

https://www.youtube.com/watch?v=7TTsnQbx52k So much has happened in my life to affect my finances over the last 5 years and even the last 12 months. But I've been working behind the scenes on my financial gameplan and I'm excited to share it with you today. Here's exactly how I plan to grow my business, get out of debt, achieve financial freedom and invest in property for that long term financial freedom. 0:00 - Introduction0:53 - The way I earn money is different to most people1:19 - My financial history5:44 - My business game plan11:58 - Increasing my income in a passive way13:52 - My financial goals15:30 - Living the life you want now, but investing for the long term17:35 - My property investment strategy19:55 - Your financial game plan Recommended Videos: 2 Properties To Financial Freedom How I Got Myself Into Debt Transcription: Ryan 0:00so much has happened in my life that has affected my finances over the last five years and i'm in a situation now where my finances are growing i'm getting out of debt and in this episode i want to talk about my personal financial gameplan how i'm planning and getting out of debt how i'm planning on getting into a position to invest and helen growing my business and also kind of explain to you why i'm in the position that i'm in today where i don't have a lot of cash flow coming in and so there's things that i can't necessarily do like buy a new car but how i'm doing the word today that's going to actually set me up for my future so i'm really excited to share this with you i hope that you find it interesting and glean something from it yourself that maybe you can add into your own financial gameplan and how you're going to move forward i will say at the start i am not a financial advisor so this is not financial advice but be i would also say that the way that i earn money is very different to the way most people earn money as an online entrepreneur as a content creator the way i earn money is a bit strange and also a bit delayed and so we'll get into that and that's part of the reason why i'm in the position that i'm in today but before we jump into the game plan i do want to talk through a bit of my history and a bit of what happened so if we look back in you know 2013 so seven or eight years ago now i was a pharmaceutical rep earning six figures per year with a free car and free petrol on that car i left that in 2013 to actually move into state we moved my family my family moved up to queensland to the gold coast so i quit that job to go full time in my online business which at the time was only earning something around 500 to $1,000 per month so you're looking at like six to 12 grand per year that it was earning and left a six figure job for that so moved into that and then worked in that full time for a few years and it was in november 2016 that i achieved what i call pseudo financial freedom so this was me being in a position where i didn't have to work anymore my business was earning enough income passively that i hardly had to work i would work a few hours per week and generally it would be when ben would call me up and say let's record a video we need to do some work or when i feel passionate about it so november 2016 i achieved pseudo financial freedom and i knew that at the time if i didn't work it will only last few years and then i would have to work again and actually it was two years almost to the day november 2018 that i lost my financial freedom so in november i had a downturn in my business i was also going through a separation at the time so i have actually increased my expenses i was paying for two houses and things like that so this is where my debt escalated and i got into a lot of debt in a short period of time so that was pretty rough i was in a pretty bad financial position in march of 2019 i felt stable again and i'd worked hard on my business from november until march and i thought okay i got it in a good place but then in june 2019 so just one year ago from the day that i'm recording this i had a situation where i felt like i was nearly bankrupt like i wasn't actually nearly bankrupt a bunch of things came through and i could manage it so i didn't go bankrupt but all these bills came in due on the one day that i was not aware of and a bunch of things all coalesced on the one day that i was like you owe this amount of money you have to pay it now otherwise you know and i didn't have the money to pay it and so i thought what am i going to do but then luckily i had some income from my business i was able to delay those payments out and so bankruptcy obviously didn't happen which is pretty cool also around that time june i think it was a month earlier that i started working in a cafe in order to just have some short term income coming in so that i can continue to pay my bills now all of this time from november to june i'm working on my online business and growing that but in august i had a massive breakthrough in my business and really saw the way forward so i saw my future i created a plan for my future and really understood okay what am i going to do now in order to move things forward so i'm not in this position forever and so that had to do with my business and the way that i create content and it was basically writing an article every single day for a website i'm related to onproperty as well as continuing on property and continue that going as well but these these websites that i'm working on the articles that i'm creating that was my way out and so between august and will now which is june 2020 i've actually i'm proud to say that i've published 330 articles so nearly one per day i've also published around 110 videos for on property so put op for on property so did a lot of work in this time this is also while working at a cafe looking out for my kids part time as a single dad and you know just doing life as well now here's where we're going to get into the financial gameplan and the reason i explained all this is as you can see my journey but also so you can see how my business works and why i'm in the situation that i'm in today and why i probably won't be here in a year so the way that my business works is that i own a bunch of different websites and i write articles for those websites but when you write articles for your own website they don't make money straight away it's like you write it and then instantly the money comes in most people when they work a job they get paid income for that day that they were at that makes sense you do a job you get paid and that pay comes weekly fortnightly monthly whatever with my business and the interesting thing about it let's say you went for a job interview this is kind of how i work let's say you go for a job interview and they say we love you we want to hire you but we're gonna pay you nothing this year absolutely nothing not gonna pay anything this year however if you work for us full time this year we will pay you somewhere in the realm of $40,000 to $160,000 per year for the next three to five years passively okay so first year you're number one you earn $0 nothing so you're gonna work an entire year and earn nothing but then when you're in your second third fourth fifth year then you can earn somewhere between 40 and 160k you don't actually know how much that's going to be because it depends on the performance of your articles and the work that you did it also depends on luck but basically you're going to get this amount of money passively for the next you know three to maybe five years it depends on how things go you don't actually know but if you look at this okay i'm working for one year i make nothing in the first year but then worst case scenario i'm kind of looking at around $40,000 absolute worst case horrible case scenario and worked out is around $16,000 per year but that's highly unlikely and i'm tracking my stats and it probably won't happen but let's say you just get it for three years 40 plus 40 plus 40 that means we're going to pay you $120,000 for the year that you worked let's say you're on the upper end of the scale around 160,000 which is high i probably won't get that but 163 20 that's $480,000 but that's over the next you know four years but that's effectively the amount that you're looking at getting so you can start to see that okay this is this is pretty lucrative like this could actually set me up oh and on top of this you can also staff your years so let's say you work your first year and you earn $0 but then you get this amount of money let's just simplify it and call it the bottom end of the scale of $40,000 so firstly you earn zero but then you can stack it so let's say you work your second year we've got the $40,000 that you're earning from the first year that you worked plus you're going to get $0 for working this year but we're going to give you $40,000 in passive income for the next three years after that now we're working in our third year and we're earning 40,000 from our first year we're earning 40,000 from our second year and then we're earning $0 for the work we're doing this year but you're adding $40,000 in passive income for the next three to five years so then we start to enter year four and you can start to see how they start stacking up so earning $40,000 from our first year of work 40,000 from our second year 40,000 from our third year and then we'll squeeze it in here $0 from our fourth year but we're adding 40,000 to the end there so firstly un zero and this is where i have been this has meant Right now is from August when I worked this out to June. So it hasn't even been a full year yet. And kind of in this position. Now, it's not exactly zero. I haven't some money from the work that I've done. But this is a simplified example. But this is the position that I'm in at the moment. And I'm about to enter into my second year, in August. So this is my financial plan. And this is how it works. And as I said,