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Getting to Unlimited Runway

Due to CruiseSheet growing and my new coaching project, my income has gone up quite a bit compared to previous years. This has been a strange transition for me, as I'm used to being the guy who doesn't really make much money, but does clever things to maximize it. Now I have a more normal income.

So far I haven't really changed, but I suspect that if things keep going well I will be less relatable to people who don't make too much money when I talk about money. For that reason, I'd like to freeze this moment in time and explain how I think about and use money. I suspect that my habits will mostly stay the same, but you never really know.

People think about net worth and income, and while those numbers are useful, they're just a small part of the picture. Focusing on them will cause you to make mistakes.

The two factors I always think about are runway and quality of life. If those numbers are high, then nothing else matters. They are a complete picture.

Mark This Down and Watch Me

On SEBASTIAN MARSHALL

Edit: I gave up on financial goals in late 2011 after some huge financial and artistic wins... money shouldn't be taken too seriously. For the record, they were all basically on track, some were being massively exceeded, others were a bit behind schedule, but were all happening.

I set my next 10 years of financial goals on June 28th. That was exactly a month ago.

1 year - Critical Thinking [my first book] out. Blog income trickling. Some info products. Some freelancing. Something else, some X-Factor thing bringing in cash. Net monthly income positive. Health insurance. $50,000 in the bank. Expenses = income per month minimum.

3 years - 3 to 5 books out, many products out, blog income robust, some working on big exciting deals. $10,000 per month total, $5000 passive at least. First property owned. $300,000 in the bank.

5 years - 7-10 books out, many many products out, many passive income internet properties, working on big exciting things, $50,000 per month total, $40,000 passive at least. $1,000,000 in the bank.

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