Commandment no. 2: Define your Financial Target at each Phase
Businessman, entrepreneur, and financial adviser Francisco Colayco shares his secrets on personal finance and investing. This is his 2nd commandment out of 10: Define your financial target at each phase.
People go through 4 stages in his financial journey:
1. Start up Phase - All your income comes from active income (personal effort/sweat).
2. Build up Phase - 20% of income comes from passive income
3. Fine Tuning Phase - Income comes from 50% of passive or investment income.
4. Retirement Phase - All income comes from passive or investment income already.
0 comments:
Subscribe to:
Post Comments
(Atom)
