Monday, August 08, 2005

Slow Progress

I have been on vacation for the past week and half and the life of leisure is a wonderful thing. Today, my kids and I headed out to Banff, Alberta just to hike around and I got to thinking how much I enjoy the ability to just go out and do whatever I want. That is really the primary driver for my desire to build a $300,000 portfolio by the time I am 40 years old that throws off an income of at least $15,000 per year. This, along with other passive income that I am trying to build through other business ventures will provide me with the ability to pick up and head out to Banff for the day just because I feel like it.

However, the problem is that I am impatient. I want this now. This is just basic human nature and I realize that it is not going to happen. All I can do is keep tracking to my plan and ENSURE that I meet my financial and personal goals - these goals are set up specifically to allow me to live freely and doing exactly it is what I love - spending time with my kids in the fresh mountain air. Onward and upward...

As a quick aside, I ran across this article in the Globe and Mail over the weekend. I truly believe that most investors would get spooked by such an article and start selling their financial stocks. However, if you read closely, it is pretty clear that the article says NOTHING AT ALL!!! Just that financial stocks went up, and now they are coming down. How insightful. The key is to ignore such drivel as nothing fundamental has changed.

5 Comments:

Anonymous Anonymous said...

Thanks for all your insight.
I just started on DRIPs and I hope to attain some great income producing stocks for the future.
What do you think of GE and PFE?

8/09/2005 01:53:00 PM  
Blogger Jose Anes said...

I feel the same here.
I am impatient.
As I get closer to my finantial goals, I tend to get even more impatient... trying to look for even better ways of improving my chances of having a steady stream of dividend and rent income.
Impatience can kill me, however. A couple of times it has made me take decissions that are against my best judgement.

Money and Investing

8/10/2005 11:12:00 AM  
Blogger wannabe_ceo said...

Passive income definately seems to be key. That or founding Google, and the latter is too late.

8/10/2005 05:33:00 PM  
Anonymous Almost ready for dividend stream said...

I am so close now I can taste it. But, alas, I must stay the course... which is proven in the Standford Marshmallow Study...

8/11/2005 04:58:00 PM  
Anonymous Here is the Marshmallow Study said...

http://www.sybervision.com/Discipline/marshmallow.htm

8/11/2005 04:59:00 PM  

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