Comments on: My Mountain's too steep! – Part 2 http://7m7y.com/2008/11/15/my-mountains-too-steep-part-2/ Learn how to make $7 million in 7 years ... a NEW guided learning experience. Join now! Thu, 29 Jul 2010 11:21:19 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: AJC http://7m7y.com/2008/11/15/my-mountains-too-steep-part-2/comment-page-1/#comment-1005 AJC Mon, 24 Nov 2008 13:41:18 +0000 http://7m7y.wordpress.com/?p=871#comment-1005 @ Jeff - So it goes for the Great Entrepreneurial Ride ... pull back the stick and hang on for Dear Life! But, I don't recommend it as a strategy ;) @ Jeff – So it goes for the Great Entrepreneurial Ride … pull back the stick and hang on for Dear Life! But, I don’t recommend it as a strategy ;)

]]> By: Jeff http://7m7y.com/2008/11/15/my-mountains-too-steep-part-2/comment-page-1/#comment-1004 Jeff Mon, 24 Nov 2008 12:58:14 +0000 http://7m7y.wordpress.com/?p=871#comment-1004 @AJC - Great post and oh so true. Whenever I've flown a low level route through the mountains it's always been easier and safer to start a shallow climb to get over the next ridge/mountain rather than waiting. However, in an airplane it is a lot more FUN to delay the climb, get closer to the mountain, pull a BUNCH of G's to get the nose into the vertical and see the trees go rushing by in your peripheral vision. What a great ride. It's Certainly not as safe, but definitely more fun. :-) Keep up the great work. I'm really enjoying this site. Jeff @AJC – Great post and oh so true. Whenever I’ve flown a low level route through the mountains it’s always been easier and safer to start a shallow climb to get over the next ridge/mountain rather than waiting.

However, in an airplane it is a lot more FUN to delay the climb, get closer to the mountain, pull a BUNCH of G’s to get the nose into the vertical and see the trees go rushing by in your peripheral vision. What a great ride.

It’s Certainly not as safe, but definitely more fun. :-)

Keep up the great work. I’m really enjoying this site.
Jeff

]]> By: AJC http://7m7y.com/2008/11/15/my-mountains-too-steep-part-2/comment-page-1/#comment-1003 AJC Mon, 17 Nov 2008 22:15:12 +0000 http://7m7y.wordpress.com/?p=871#comment-1003 @ Debbie - better now than in 10 years time :) Good luck with the E-Myth stuff ... I'll help you through whatever questions you have. @ Debbie – better now than in 10 years time :) Good luck with the E-Myth stuff … I’ll help you through whatever questions you have.

]]> By: Debbie http://7m7y.com/2008/11/15/my-mountains-too-steep-part-2/comment-page-1/#comment-1002 Debbie Mon, 17 Nov 2008 17:48:33 +0000 http://7m7y.wordpress.com/?p=871#comment-1002 @ AJC - I should have said, makes me wish *I* started this 10 years ago! I have read E Myth Revisited (twice now) and have The E Myth Mastery waiting for me. Excellent information. @ AJC – I should have said, makes me wish *I* started this 10 years ago! I have read E Myth Revisited (twice now) and have The E Myth Mastery waiting for me. Excellent information.

]]> By: AJC http://7m7y.com/2008/11/15/my-mountains-too-steep-part-2/comment-page-1/#comment-1011 AJC Sun, 16 Nov 2008 04:39:35 +0000 http://7m7y.wordpress.com/?p=871#comment-1011 @ Debbie - I did :P Thanks to Michael Gerber and the E-Myth: http://www.amazon.com/E-Myth-Revisited-Small-Businesses-About/dp/0887307280/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1226810343&sr=8-1 [NOT an Affiliate Link!] @ Debbie – I did :P Thanks to Michael Gerber and the E-Myth: http://www.amazon.com/E-Myth-Revisited-Small-Businesses-About/dp/0887307280/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1226810343&sr=8-1 [NOT an Affiliate Link!]

]]> By: Debbie http://7m7y.com/2008/11/15/my-mountains-too-steep-part-2/comment-page-1/#comment-1010 Debbie Sun, 16 Nov 2008 00:33:26 +0000 http://7m7y.wordpress.com/?p=871#comment-1010 Makes me wish we started this 10 years ago! Makes me wish we started this 10 years ago!

]]> By: AJC http://7m7y.com/2008/11/15/my-mountains-too-steep-part-2/comment-page-1/#comment-1009 AJC Sat, 15 Nov 2008 22:39:02 +0000 http://7m7y.wordpress.com/?p=871#comment-1009 @ Scott - The 'momentum' that you build up getting TO your Number can often carry you well BEYOND your Number ... but, you can't plan on that. BUT, it is a reason why the Rule of 20 is probably sufficient for 'targeting' purposes. The 3% or so reduction in Compound Growth Rate is unlikely to be visible (except, perhaps, where it allows you to stay in Index Funds rather than investing in individual stocks ... in most other cases, the jumps are just too high). @ Lee - Exactly right ... for you! ;) In fact, EVERYBODY should be able to see that the three variables: Number; Date; Investment Type/s can be 'played with' to achieve the individual outcome that YOU need ... and, only YOU can know that - the grandchildren will accept whatever you decide (as long as it's something that you would be happy to write into your Rear Deck Speech). @ Scott – The ‘momentum’ that you build up getting TO your Number can often carry you well BEYOND your Number … but, you can’t plan on that. BUT, it is a reason why the Rule of 20 is probably sufficient for ‘targeting’ purposes. The 3% or so reduction in Compound Growth Rate is unlikely to be visible (except, perhaps, where it allows you to stay in Index Funds rather than investing in individual stocks … in most other cases, the jumps are just too high).

@ Lee – Exactly right … for you! ;)

In fact, EVERYBODY should be able to see that the three variables: Number; Date; Investment Type/s can be ‘played with’ to achieve the individual outcome that YOU need … and, only YOU can know that – the grandchildren will accept whatever you decide (as long as it’s something that you would be happy to write into your Rear Deck Speech).

]]> By: Lee http://7m7y.com/2008/11/15/my-mountains-too-steep-part-2/comment-page-1/#comment-1008 Lee Sat, 15 Nov 2008 19:26:31 +0000 http://7m7y.wordpress.com/?p=871#comment-1008 My take on this is a little bit different for one major reason. I have less time to get to the top. I really don't feel like I can lengthen my time so at best I need to lower my expectations, rethink my "List" and see just what else I can do without. I've done just that and am satisfied. My grandkids will just have to live with it. :) My take on this is a little bit different for one major reason. I have less time to get to the top.

I really don’t feel like I can lengthen my time so at best I need to lower my expectations, rethink my “List” and see just what else I can do without.

I’ve done just that and am satisfied. My grandkids will just have to live with it. :)

]]> By: Scott http://7m7y.com/2008/11/15/my-mountains-too-steep-part-2/comment-page-1/#comment-1007 Scott Sat, 15 Nov 2008 17:16:33 +0000 http://7m7y.wordpress.com/?p=871#comment-1007 But I think the whole point here is to choose the investing vehicle that gives you the required annual growth rate that you feel you can personally achieve and if this vehicle your are about to get into does not lead you to your NUMBER by your DATE, then another option is to simply travel longer than you planned. But I think the whole point here is to choose the investing vehicle that gives you the required annual growth rate that you feel you can personally achieve and if this vehicle your are about to get into does not lead you to your NUMBER by your DATE, then another option is to simply travel longer than you planned.

]]> By: Scott http://7m7y.com/2008/11/15/my-mountains-too-steep-part-2/comment-page-1/#comment-1006 Scott Sat, 15 Nov 2008 17:02:44 +0000 http://7m7y.wordpress.com/?p=871#comment-1006 Oh no, I definitely don't won't to wait a minute longer than I have to, to get to my number and get to live my life's purpose. I would rather get there in half the time, or better, tomorrow if possible, lol. But like we are talking about, that would require me to steepen my mountain exponentially. It just boggled my mind though to see the power that time can do for you. The way a few extra years QUADRUPLED the number while at the same time, reducing the required annual compound growth rate powerfully illustrates the point you were trying to make in this post, I think. In other words "If you are willing to deal with the pain of waiting a little longer to live your life's purpose, not only will you get 4 times the money, but you can even take the pedal off the metal a bit along the way." TIME can be such a powerful wealth building tool. Oh no, I definitely don’t won’t to wait a minute longer than I have to, to get to my number and get to live my life’s purpose. I would rather get there in half the time, or better, tomorrow if possible, lol. But like we are talking about, that would require me to steepen my mountain exponentially.

It just boggled my mind though to see the power that time can do for you. The way a few extra years QUADRUPLED the number while at the same time, reducing the required annual compound growth rate powerfully illustrates the point you were trying to make in this post, I think.

In other words “If you are willing to deal with the pain of waiting a little longer to live your life’s purpose, not only will you get 4 times the money, but you can even take the pedal off the metal a bit along the way.”

TIME can be such a powerful wealth building tool.

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