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Do you ever find yourself wondering whether you should be working harder or pushing yourself a little more aggressively?
Well, let me tell you, my son doesn’t have that problem. Why? Because I’m always right there, pushing him to give it his all.
Just last Saturday, at 7:01 AM—20 seconds into his hockey game—he was already in the penalty box. No one got hurt, of course (these are little kids, after all), but I can’t help but admire the enthusiasm and energy he brought to the ice.
Look at that smile! It makes me think—maybe it’s time for all of us to embrace that same level of aggression and determination in our own lives.
You might not be playing hockey, but you are definitely playing The Game of Money, and if you push yourself a little harder and get a little smarter about your approach, you could:
In 2024, I’m committed to helping you hit your most important financial milestones. Recently, I gathered valuable insights on short-term (active income), medium-term (passive income), and long-term (net worth) financial goals.
Let’s dive into some key takeaways and strategies that can guide you toward achieving these ambitious goals.
I’ve taken a look at the financial aspirations of a select group of individuals, and here are the insights:
Here’s a breakdown of the types of individuals who shared their financial goals:
Let’s start by looking at the active income goals. Unsurprisingly, most people want to double their income while working fewer hours. Many aim to 2x or 3x their earnings within the next 12 months. The most popular income brackets people are targeting are:
Now, let’s shift to passive income. This is where things get interesting—and where I see the most room for growth.
Despite the intelligence and experience of this group, a whopping 43% have less than $1,000 per month in passive income. Another 18% have between $1k and $3k per month, while a few individuals generate over $100k per month in passive income.
Just like with active income, many respondents have ambitious passive income targets for the future. Many aim for $100k+ per month, though some are starting from more modest levels.
Finally, let’s talk about net worth. Here’s the breakdown:
But here’s the interesting part—42% are aiming to 10x their net worth within five years. Another 34% are looking to 2-3x their investable assets over the same period. While these goals are ambitious, they’re achievable with the right strategy.
For a reality check, a traditional 60/40 portfolio (60% equities, 40% bonds) is designed to yield around 5-7% per year. If you’re looking for higher returns, you’ll need to allocate more to asset classes like private equity—the very category I’m heavily investing in.
Even with a 30% allocation to private equity and an incredible 35% annualized return, you’re likely to see a 2x return over five years—certainly a solid performance, but not an outlier.
So, if you’re looking to 3-5x your net worth, you need to consider increasing your allocation to private deals.
Here’s the good news: whether you’re an investor, entrepreneur, or employee, you can win the Game of Money—as long as you understand that it:
By adopting a strategic approach to income generation, passive income investment, and net worth growth, you can turn these financial goals into reality.
The game is there for the taking—you just need to play it right.
Keep an eye out for future posts here, as we will be explaining these details thoroughly!