Step 3, Timeframes….

Yes, it would be wonderful to have ￡10,000 per month within the next few days, year, 3 years, or even five years… but the reality is, unless you have stacks of cash already or an angel investor by your side with an unlimited pit of money - this is not going to happen.

Don’t let this put you off.

Just because it takes time doesn't mean it’s not worth doing.

As Matthew McConaughey says in his book ‘Greenlights’, the further the greenlight is in the future, the harder it is to see its perceived value now, but these are often the ones with the most long-term value.

Definition: Greenlight - an affirmation, [and a way of] setting yourself up for success.

Making an imperfect start now, is better than making a perfect start in 2, 3, or 4 years plus. Time will move whether you are using it to your advantage or not.

Therefore, realistically, what time frames are you working towards for your goals? Some examples below…

• 5-year timeframe: This might indicate you're nearing retirement and seeking stable income?
• 20+ year timeframe: perhaps you are younger and just getting started?
• 8-year timeframe: Perhaps you're saving for specific expenses like your children's education, requiring a focused approach.
• 10-year timeframe: Reaching a specific income goal like ￡10,000 for retirement.

Remember, there's no one-size-fits-all approach to timeframes, choose what works for your goals and situation. It is unique to you. And remember, as you move through life your priorities and goals may change.

Have your large BHAG (Big Hairy Audacious Goal), then break this down into smaller, more achievable timelines. For example;

I would like to have GBP5k per month from property in 10 years from now…. broken down into;

- Purchase first property in December 2024.

• Broken down into;
• Save XX by XX.
• Save XX this month.
• For example.

- 2nd December 2026.

- Release equity from 1st in 2027.

- And so on.

Pro Tip: Start writing down your goals and timeframes and you will start seeing your strategy map out.