My Financial Goals For 2020 – Achieving Financial Freedom…Again
The new year is just around the corner and each year I like to set myself goals for the new year. Here are my financial goals for 2020 and how I plan to achieve them.
0:00 – Introduction
0:42 – 2019 Recap
1:45 – How I’m starting 2020
2:48 – What are my financial goals for 2020
4:32 – How I’m going to achieve those goals
6:25 – Achieving financial freedom again
6:56 – What are my goals for 2021?
9:00 – Excited for On Property in 2020
the new year is just around the corner and each year i like to set myself goals for the year that’s coming i recently did a video on how i did with my 2019 goals so i set some goals at the end of 2018 how did i do with those i’ll link up to that video down below if you want to go ahead and check it out spoiler i didn’t achieve the goals that i made some steps towards it but in this video i want to talk about what are my financial goals for 2020 and beyond and kind of a bit of the plan of how i am going to go about achieving those hey i’m ryan from onproperty helping you achieve financial freedom and 2019 just a quick recap if you haven’t watched the previous video is that it didn’t start 2019 from a place of strength my businesses were going backwards i’d recently separated i was in quite a fair bit of debt and i was living with my dad in order to save on rent so i didn’t really start from a place of strength and basically the middle of the year was one of the worst times financially for me where i nearly ran out of money and had multiple times where i thought i would basically not be able to pay for food not be able to pay for rent not be able to pay for the kids school fees so it was a really scary time and then towards the end of the year really cemented a plan for my business really understood how it worked in a new way and started working that plan as well as had some of my businesses grow as well so i got really fortunate towards the end of 2019 to be in a position where are starting to pay off debt again and just in a more stable financial position and so that’s kind of the context for how we’re going into 2020 funnily i’ll be starting 2020 very similar to 2019 in that i will be back at my dad’s place so at the moment i am in my own unit but the owners are moving back in here so i’m currently packing up and about to move back to dad’s for the summer holidays the summer time period is the slowest time in all of my businesses so now people have christmas rush i can add the opposite of that and so cash flow i’m just not exactly sure what it’s going to be over december january february and so i figured i’m just going to lower my expenses over that time period see how things turn out and then make decisions about where to live come february and so finally i’m going to be starting the year almost in the same way that i started 2019 but i’m definitely starting from a much better place of strength so starting 2019 i just hadn’t been working on my businesses for years and was just starting to work on it again starting 2020 i’ve had all of 2019 where i’ve been working on my business and growing so that’s really exciting to be starting from there so what are my financial goals for 2020 well my financial goals for 2019 was to pay off all my debt and to achieve financial freedom again through my businesses now i didn’t achieve either of those and my goals for 2020 are kind of similar i also want to achieve financial freedom through my businesses again and i do believe that i actually have a plan now of exactly how to do that if i do x amount of work right x amount of articles are published x amount of videos then i will achieve that or i should achieve that so i’ve got a really fixed plan in mind of how to implement that but the goal around that is to grow my second six figure website so having two websites that earn over six figures is my goal for the year and so obviously that’s going to put me in a pretty good financial position if i can go ahead and achieve that i don’t think the websites will be earning that much in 2020 but building them up to the point that in 2021 that they will kind of perform at that level so that’s my goal when it comes to paying off debt i would love to pay off all of my debt i don’t know given my cafo circumstances whether or not that’s realistic but i definitely want to reduce that down and at least have that debt completely hava completely that doesn’t make sense i want to have half my debt and basically i want to get in a position where i have that infinite runway and i have that financial freedom again so i talked a little bit about it in the last video but the way i earn money in my businesses and the way it works is that i write a lot of content and that content makes hardly any money
in the first six months basically doesn’t do anything the first month you know it might make $1 or $2 if that in the second month it might make a little bit more third month a little bit more but in the first six months you’re not really making any money from the articles that you’ve written it’s only once you get past the six month mark that it really starts to grow and once you get past the one year mark as well you kind of start to see some decent income from the stuff that you wrote a year ago and so i really formulated my plan and started actively writing quite a lot of content in august of last year now august of this year sorry so i’ve only had about four months so far where i’ve been writing these articles and as you can see that’s within that six month time period and then in 2020 i’m going to be doing a lot of that writing as well obviously the articles are writing the first half of the year they’ll start to make money towards the end of the year but the articles i’m writing at the end of the year they’re not going to make money till the following year so it’ll be a year of 2020 is going to be a year of a lot of work and seeing some rewards for my labor but not seeing huge rewards for them so my goal and my plan longer term plan what i’m working towards is that i actually want to build a million dollar business or a multi million dollar business i want to build up a website that is worth over a million dollars and so the plan to do that is through writing content growing the income on that website as passively as possible so when it comes time if i want to sell that website that i can go ahead and sell it for a large multiple of what its annual income is but yeah so building it up that will be my year in 2020 the biggest goals are to achieve financial freedom again by the end of 2020 so don’t expect to be financially free in 2020 but by the end of the year i would like to be in a position where had that infinite runway i’m not worried about running out of money again i’ve paid off half my debt and i’m on track to pay off the rest of it in 2021 and just be in a really good position where i can start hiring people to come and work for me so that i can grow my business even further into 2021 and then i think 2021 we’ll be looking at okay now that i’ve got myself in this position now that i’ve paid off my debt now let’s look at buying property given that my income has grown i’ve got better income would make it easier to save a deposit and easier to move forward into property would i love to buy property now would i love to buy it in early 2020 sure i would i know ben has been on my case to purchase property and ideally would have liked me to get in this year in 2019 i would have liked to as well unfortunately the circumstances just happened that i wasn’t in that position i survived 2019 that is like my what i achieved in 2019 as i survived it i was not starting from a place of strength it was a really hard emotional year and i survived it 2020 i’m starting not necessarily from a place of huge strength but i’m starting from a better place i’ve got some momentum behind me and i’ve got a real solid plan in place of how i plan to grow my businesses and achieve my financial goals so i’m really looking forward to 2020 it’s going to be a hard year there’s going to be a lot of work for not a lot of return but i’m really excited about it i’m really excited to be working towards this goal really excited to be working towards financial freedom again really excited that now i can see financial freedom in my future again and so even though things are hard at the moment i don’t have infinite runway at the moment i don’t know how this summer seasons going to go i’m moving back to my dad’s just to keep expenses low for that summer season which i will i would prefer not to do i would much prefer to have my own place and to have a place for my kids but to be able to move back lower the expenses so that i can afford to send them to the school that’s really good for them and really good for their emotional health and then i can afford to you know support their mom as well and so yeah that is kind of where i’m at that is my financial goals for 2020 really excited for on property as well and for getting back out to the sunshine coast and doing more content with ben i know he has had a crazy year in 2019 as well and has gone through a lot of stuff and has been super busy and not really had much time to film and neither have i but really excited for 2020 really excited to do some cool stuff with him and to do some cool stuff with all of you out there as well and to help you move towards your goals and help you achieve financial freedom too so what are your goals for 2020 i’d love to hear about it please
let me know in the comment section down below otherwise check out the video where i talked about my goals for 2019 and whether or whether or not i achieved them you know i didn’t but i talked about kind of what i went through in 2019 go ahead and check out that video will check out the older video of my goals for 2019 which i recorded in late 2018 so go ahead and check those out i wish you the absolute best in you your 2020 sets and financial goals work towards them until next time stay positive