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Updated about 2 years ago on . Most recent reply
Purchasing 10+ Years of Runway Strategy - Thoughts?
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The above image is to get a clearer picture on finances on the below scenario.
Plan:
-Purchase 3/2/1 car garage townhome. Adhere to strict screening to provide great housing for two suitable tenants and myself.
-Continue working on business and creating/building other projects.
-12 months income provides for +/- 10 years of runway capital. Maybe 15 or 20 at the above annual expenses/living scenario.
-Business remains operational, project continues to be built, lifestyle remains relatively the same. (Food is cooked and delivered to home, beach is a 10 minute drive).
-Within 24 months there is 20-40 years of runway to work on/continue creating whatever I desire in life. If project begins taking off, may perhaps no longer need to rent to roomates and still have a long runway.
-Allows for placing big bets and aggressive investing in future ventures. If they go to 0 it’s really not the end of the world.
Assuming the above to be the worse case scenario it’s not particularly a bad life. At some point a wife and kids will be desired and that changes finances a bit. It would look different, but I strongly believe it will be manageable.
This all looks good on paper. But what am I missing in reality? What counter arguments could you make to my strategy? Please help poke holes on the plan to provide for a better vantage point. Needing better information if my assumptions are off. Thank you!