How I 10xd My Net Worth in 4 Years

Good morning, investors. This week I'm going to talk about how I did it. So in my four point strategy calls with investors day in and day out, I get a really common question, and that is, Sarah, what would you do in my shoes? Or Sarah, how did you do it? How did you get from where you were 10 years ago to where you are today? Or the question of what would you do today? My answer is always, hey, what I do today may not be the best for you because you may be three, four years earlier in your investing career. You may be 10 years earlier in your investing career. So where you are and what you're looking to do and what your goals are are completely relevant in making your investment choices as far as what do you invest in, how much, your ratios and all that kind of stuff. So this week I'm going to talk about what I would do if I were in your shoes, depending on where you are and what I did. So I started investing in real estate. It's now been 10 years, almost 11 years. It was when my daughter was first born and I realized, whoa, okay, I can't work as much as I'm working and still be a present mom for my kids. So let me think of something else I can do to bring an income that isn't equal to me working more hours. And so I started exploring. The big thing I did in the beginning was coaching. I found investment coaches and I started learning about all kinds of different investments out there and if they were good for cash flow, if they were good for net worth, building, getting to know the terms, getting to know how to do due diligence. So in the beginning, if you're just starting, two things I suggest. One is getting really clear on your goals and your personal vision. Like so, so clear. So there should be a number and a timeline associated with it. Okay, so this is the first thing. There's a link below and it's a goal setting chart. And it's really easy. I use this goal setting chart to set intermittent goals that would help me reach my big goal. And my big goal was to achieve a certain net worth in a certain timeframe. And that net worth would allow me to be job optional. And I wanted that before my daughter was in third grade because that's the time when I really wanted to start being present for all the stuff that kids go through and as they start hitting puberty and middle school and all of that. So I had a really clear number in my mind, net worth, and a really clear date and a really strong why for Myself. So that's one thing is you need to create really clear goals and think about who do you need to tell? So I told my husband, I told my cpa, I told so many people in my life who could help me get there okay. And then I looked at people who were already there, who were already where I wanted to be. And I started studying them and what do they do and how can I mimic what they're doing so that I can reach those goals and be where they are? So that was the first thing. Get really clear on goals, who do I need to tell? And then think about what are you willing to sacrifice? So for me I sacrificed sleep at the time because I had a job and I had kids and I was wanting to do a new thing. So I got up at 4:30 every morning and I studied investing, I studied business, I studied all these different things. So I already had an MBA in marketing and finance. But it was learning a different skill, a different set of skills. Right. It wasn't formal school, it was learning from coaches and mentors and those types of things. And then I started investing for net worth. And so the investments that I chose because my goals were time based. It was a short time frame and net worth based. I started looking for investments that had the time frame I wanted, three years or less and had a strong annualized return. So I wasn't, I didn't care at all about cash flow. So I looked for something that would give me the highest annualized return, the highest equity multiple. And I found investments that matched that. So if you're out there and you're looking to become job optional, set the time. And between now and then, I always suggest looking for investments that have your highest, have the highest annualized return or the highest equity multiple and is within that time frame, you're looking to achieve your goal. Okay, so there's that. And then really invest in learning, that was the second thing. So setting the goals and then investing in learning, what do you need to know that you don't already know? Really, really important. So I knew a little bit about certain types of investing, but I didn't know a lot about investing for net worth and I didn't know a lot about private investments at that time. So I invested a lot in coaches and investment coach. I went through Rich Dad, Poor Dad University, some other online coaching programs and I really learned from those who are the best. So in the beginning, if you're looking to be job optional in the future, I suggest today, don't even worry about cash flow. Just invest in something that. Oh, and then third one is learn due diligence. Okay? So invest in something that will give you confidence, will give you peace, where, you know, once I create this, it gives me the stability to be more explorative in my investing in the future. So create a base of strong assets today, and don't worry about cash flow and really get good at due diligence. All right, I'll see you Wednesday for step two of how I did it. Thanks, guys.