The $7 Million 7 Years Wealth System

In Review If Scott achieves the same compound growth rate over just the next 12 months that he says that he has achieved over the past four years, he’ll reach his Number in less than a year and be almost twice as rich as Warren Buffett in just 4 more years! That’s the power of [...]

Making Money 201? I now realize that I was a little premature running the photo of the space shuttle actually launching off the pad; where we’ve really been until now is back at the Launch Control Center making sure that we are all prepared for the flight: suits [check]; oxygen [check]; flight training [check]; flight [...]

Where Did All the Money Go? OK Scott is off the hook for not doing this exercise … … but only because he actually already has a pretty strict budgeting system in place: I love the idea of withdrawing a certain set amount from the ATM each week for things like personal spending and entertainment [...]

The ‘No Budget Budget’ Note: You need to be a Premium Member to view this content: Stay tuned …

The Recap! I think if there’s one of our 7 Millionaires … In Training! who’s course seems to already be set, it’s Scott … the only question that I would have will be answered in the next part of our journey – stay tuned! In the meantime, what questions / advice do YOU have? _____________________________ [...]

Making Money 101? Of course, what we’ve been doing over the last few weeks is quietly reviewing the ‘financial picture’ for each of our 7MITs … I hope that you have taken the opportunity to do the same? Perhaps your financial picture overlaps in part with one or more of the 7 Millionaires … In [...]

7 Millionaire In-Training! Review The diagram is mine, but the healthy financial ‘picture’ is all Scott’s … the poster child of the high-income earner / high-saver. Let’s hope that he also knows how to also have fun, but I guess a hobby farm with horses has got to provide a fair chunk of happiness?! Scott [...]

The True Liability – Not Reaching Your Number! 27 1/2 years left on a fixed rate 2.85% (student) loan … sweeeeet [AJC: queue Homer Simpson drooling] … It seems that Scott is the poster-child for ‘big debt boy made good’ … what do you think? __________________ In this next exercise, our main topic is to [...]

Are you an optimist or a pessimist (I’m already on record on this subject)? It might depend upon how well your assets outweigh your liabilities … … this diagram shows quite nicely how the cash flows – out! – for each liability …. does that mean that a liability = bad? Not necessarily, it depends [...]

The Right Vehicle The vehicle selected for my journey to 9 million in seven years is to start and manage a business, this selection is appropriate for the compounded annual growth rate necessary to achieve 9 million in seven years. The business I plan to start is essantialy a money managing business also know as [...]