How much does it cost to be financially free?

The other day some of my investors were asking me where I came from and what I'm doing now. It got me thinking about work and lifestyle and stuff.

How much does it take to be financially free? This is something I believe in - its my religion and way of life! The answer is of course personal to your own circumstances. Which of course change from year to year as your own circumstances change. Children, marriage, etc these will all affect your personal wealth and impact on your lifestyle. The great thing about working towards this goal is that you have total control over everything you do and your decisions are entirely yours to make. Imagine working 1 hour at home for yourself. It's the equivalent of working 8 hours for your boss! That's how it feels to me.

My own goals are pretty modest in the scheme of things. I want to be a property millionaire within 5 years. That is to say I want equity within my portfolio to exceed 1 million. As for monthly cash flow, I figured that for every property I buy I can cash in £150 per month profit from the rent. Now if I own 100 properties,
that's an income of £15,000 per month. Of course I will have to keep an eye on my investments and I may sell some from time to time, but I will have full control over all my investments. Is that really work??

I've always tried to do things like this: for every additional expense I have, whether a car loan or I move house I motivate myself to off set that extra debt with new investments. It helps me focus and keeps a consistent balance of cash flow and investments.

My advice to you is to ask yourself what you want personally. Maybe you want to build a portfolio, maybe you just want one or two properties to leave the kids. Whatever you want, write it down. Open up Excel and start by putting down all your outgoings. If that's the figure you need to live the lifestyle you want, then work out how many investments you need to get there. Last of all put a timescale on it.

Check out our latest USA property investments. Fantastic monthly cash flow, and properties as low as £10k!
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