Your Best Financial Growth Year Ever

https://www.youtube.com/watch?v=FPtjdarXDjM I personally want this year to be my best financial growth year yet and I want the same for you. Here is the actions I am taking and the framework I am using to achieve long term sustainable financial freedom. 0:39 - Where I am at at the moment2:28 - Setting long term financial goals for financial freedom4:20 - Understanding what assets are required to achieve that goal7:15 - Action goals to create/buy the assets you need Recommended Videos: What It Feels Like To Be Financially Free How I Achieved Financial Freedom at 28 Transcription hey you beautiful people the new year is upon us which is an exciting time to set new financial goals hopefully to move you towards your ultimate goal of financial freedom or whatever it may be I personally want this year to be my best financial growth year yet and I want the same for you as well so in this episode I'm going to talk a bit about what I'm doing this year and the framework that I have that I'm going to be using in order to achieve my success and achieve my financial growth goals and then ideally hopefully you can learn from this and apply some of this to your life as well hi i'm ryan from on-property helping you achieve a financial freedom to give you a bit of context of where I'm at at the moment is that at the age of 28 I was lucky enough to achieve what I call pseudo financial freedom through my online business set-aside online businesses that were generating enough income that I didn't need to work so I really got a taste of financial freedom at 28 and had a couple years where I really didn't need to work much at all and so I spent that living up in Nusa with my family enjoying the beach drinking lots of coffee every day go on the beach choice every single day and just enjoying the lifestyle that financial freedom offers internet trans change I wasn't keeping up with things so my business declined and now no longer financially free but I'm working to build that up again ideally to achieve that pseudo financial freedom or like self sustainability by the end of the year but to do it in a way that my business will then continue to grow not decline like it did in the past and also to then take those profits and reinvest them into property so that I can achieve long-term sustainable financial freedom so that's kind of an idea of where I'm at at the moment last year really was a year of survival for me and just getting through the year there was a lot of change including a separation relocation interstate a lot of expenses that go with that sort of stuff moving back to Sydney which is more expensive so huge adjustments last year and one of the downsides of my business as well is that the work you do doesn't really pay off for about 12 months so doing a lot of work at the moment and last year that I haven't really seen the fruits of yet but I'll hopefully see the for itself towards the end of this year so what exactly am I doing this year to make it my best financial growth year yet and what sort of the framework that I'm using and how can you apply that so the first thing is setting a clear financial goal and setting a clear long-term financial goal to start with for me that's always been financial freedom and I value financial freedom so highly over any other financial goal whether it be amount of money in the bank or materialistic things like a new car or whatever it is that people kind of seek after these days it's always been financial freedom for me and financial freedom is just the ability to support your lifestyle without having to work and the reason I think that's so important is that it gives you choices and Ben Everingham the buyer's agent over pumped on property who I work with and a really good friend of mine talks about this a lot is that when you have financial freedom you've got the choices to do what you want with your time and that was so important to me like back when I achieved financial freedom at 28 I thought have you achieved it click your fingers you'll instantly be happy and that was really not the case actually went through a deep dark depression after achieving financial freedom because I didn't have a goal anymore I talked about that in a separate video and what it feels like to be financially free so I'll link up to that one down below but financial freedom didn't make me happy but it gave me the time to explore my own happiness so when it comes to financial goals that is kind of my Northstar and my guiding light is six-figure financial freedom so having that amount of money per year come in whether I work or not and having it come in stabili is my financial goal so having like a financial goal to start with is really important and what you set as your financial goal is obviously completely up to you maybe you want financial freedom as well and you can determine okay how much do I need to earn in order to be financially free that might be your goal or it might be something else so having a clear financial goal is the first step and then the second step is really understanding the assets and things that are required in order to achieve that financial goal now this takes a bit more time a bit more skill a bit more effort to kind of work out if you're looking at investing in property then obviously you need to own quite a decent amount of property in order to achieve a high level of income for me when it comes to assets the quickest and easiest way for me is online assets so I own websites I run my own online media company I do videos I do podcasts I write articles that's what I do but when I write an article that becomes an asset and it becomes something that lives online and something that when people Google something they can find my article read it and then I can make money from that in advertising or affiliate sales or referral fees and all of that sort of stuff so for me a written article equals an asset and so while that may not apply for a lot of you because you don't have online businesses it's important to understand what assets are required in order to achieve your goal so for me it's a number of articles and how many articles I need to write and on average how much of those articles going to deliver for me financially per month and how many do I need to achieve financial freedom so understanding what assets are required to achieve that is kind of the next step and that may take some time and if you're looking at property in order to achieve that one way to do it is to just look at the properties that you're looking at investing in how much rent are they getting per week you know times that by 70% or 80% because you've got to take out some expenses and then okay if I had fully paid off this property this is how much income I would be getting per week or per year and you can kind of work out okay how many of these properties would I need to own outright in order to be financially free I find that a really simple and a really good starting point for getting an idea of how many properties you need and then obviously as you invest in property things can get more complex and you can start leveraging debt you can get positive cash flow while not having fully paid off a property you can build granny flats to increase the income and all this sort of stuff but if you're just getting started looking at okay by buyer property how much is it going to rent for take out some of those expenses how many properties am i going to need to own to reach my income goal and then you've got a kind of asset base of what you need so that's one way to do it so understanding that so I guess I've got that mapped out for myself and for me with my articles it's much more intricate and I just need to each article owns this much because it's per month each month is going to be different and my websites can be seasonal as well so there's a bunch of complexity around that but basically I understand what I need to do and what I need to achieve this year in order to achieve my financial goal the next thing is then setting action goals of how you're going to acquire or build those assets so for me I'm in the porch I'm in the fortunate position where I can create my own asset basically for free using nothing but my own time my own knowledge and my hands I've actually got quite sore arms at the moment from so much typing but I'm in the fortunate situation where I can create assets basically from scratch now not all of us are in that position but regardless you need to have action goals that you can set so for me that is how many articles do I need to write per month per week per day and so I've got those action goals in place because it's the work that you do that's going to deliver the results so we can say we want to achieve financial freedom but financial freedom is not going to happen by itself you actually need to do things in order to achieve financial freedom so your action goals and the things that you're going to do whether it be the money that you're going to save or the extra work that you're going to do on the weekends in order to save a deposit to buy a property what are those little action steps that you need to take in order to acquire the assets that you want to acquire tracking those and having those goals is probably even more important than having that big goal because they're the things that you actually need to do on the day-to-day basis throughout the year that's going to then deliver the result at the end of the year so it's kind of like you have that big end goal at the end of the year but you then work out okay what action do I need to take in order to acquire the assets that I need to achieve the financial goal so you really break here down to financial goal assets for quiet action that is needed in order to acquire those assets and then I kind of dive in on those action steps and that becomes my focus that becomes my goals that becomes what I'm tracking so while yes I'm s...