Recipe For Financial Freedom

Today I found an old paper on which I had written a goal for myself in the past. It was dated October 7th 2001. It’s almost 6 years now that I had written it that was the time when I just recovered from a serious road accident with no job and an uncertain career as the job market in India was grim and I dreamed a lot on the hospital bed.

The goal written is as follows:

An image of me 10 years from now:-

A. Work Department

1.Monthly income Rs 40,000/- (I hope I shall cross that number by 2011)

2.Level of responsibility CEO/GM of a company (my ignorance, not bad though)

3.Authority: Large scale, in various departments (I now realize that I have to specialize in a single domain enhancing my career skills)

4.Prestige: Elite class ( I had not defined it before and even today I can’t define it, though I can just add that a high networth shall enhance my prestige)

B. Home Department

1.Standard of Living: First class for my family and myself.(No idea what first class is but i surely feel that it is again related to my networth.)

2.Kind of house: A two storied house with 3 bedrooms with a dining room, a living room, a store room, a guest room with a swimming pool, a lawn, a room for playing indoor games apart from the basic amenities. (Looking at the current real estate market I feel this is impossible, but I still can try for it I have nearly four years to accomplish that).

3.Vacations:- A 20 day vacation every six months to abroad, picnics on weekends, visiting different places and monuments in India occasionally. (I know this is ridiculous for a goal, may be this can take place when I retire.)

4.Financial Support for my children: In her early adult years she would inherit an estate of fixed deposit, bonds, mutual funds and stocks of blue chip companies. (I always wanted to have a daughter)

C. Social Department

1.Type of friends: Honest and frank friends with different fields of interests (other than that I have). (I am not particularly good in this department as I always found friends who cheated me. Now I refrain from having friendships, only professional relationships)

2.Social group: A club

3.Worthwhile causes to work for: I want to donate for organizations working for stray animals. (still have to do this)

Today I feel there is a need for me to have my financial goal in place. If I am able to achieve my financial goal I believe every other goal shall fall into place.