Every great company has a mission statement and vision. In the Army we always have a mission, a purpose, key tasks, and an endstate. Almost every successful individual has a mission and vision. Here is Google's mission as an example. You can intuitively see how it serves to guide all Google's decisionmaking:
As such, I’d like to do the same with my Passive Income Portfolio. This isn’t necessarily my ‘life’ mission, this blog’s mission, or even my mission for my family, though they all share some similarities. Continuing a transparent journey to financial freedom, I figured I would share my Mission, Vision, and Primary Objectives I have for my Passive Income Portfolio with you:
Listed below are each:
Mission (What do I want to do?)
I want to be able to retire from the Military and live financially free of worry or need. My Passive Income Portfolio will provide for my family and give us the freedom to go where God calls us, at any moment, without wondering where the money will come from; without ever having to work for Corporate America, or any other job again after the Military, unless called to do so. My Passive Income Portfolio will fund ministries in a big way, leave a legacy for my children, and help grow God's Kingdom.
Vision (How am I going to accomplish my Mission statement?)
I will accomplish this through frugal living, growing a rental property portfolio, and disciplined dividend and value investing; by spending little and developing a cash-flowing portfolio of at least 10 rental properties, mostly mutual funds, and 20 dividend yielding and dividend growing blue-chip companies.
Primary Objectives (What are the details of my plan?)
* At age 40, annualized passive income = $25,000
* Leave the military after no more than 25 years (Age 47)
* Upon leaving the military, commit to whatever path God calls me
* Utilize passive income to execute 'Mission' statement
That's how my Mision, Vision, and Primary Objectives read for 2016. I may make minor adjustments on a yearly basis, but I think that’s it for now! As with anywhere on my site, I welcome any comments. Take care,
Passive Income Dude