What Is Your Magic Number?

When it comes to your property investing goals, it's always wise to formulate your own magic number. In this episode, Simon explains the concept and tells you how you too can arrive at your own magic number, as well as the different levels of financial freedom you should aim for. KEY TAKEAWAYS Your magic number should comprise the passive income amount you need to make each month in order to replace the money you currently earn. There are three levels of financial freedom: Financial independence - you have enough coming in to replace what you currently earn. Financial freedom - having enough to enjoy a better life. Total financial abundance - you have more money than you know what do with, and are saving money regularly. There is a vast difference in the amount you need to replace and amount you want to ultimately earn. If you aim too high at the beginning, then the journey can seem insurmountable. Working out your magic number gives you clarity and direction. Subsequent work with a coach or partner can then get you there. BEST MOMENTS 'it's a truly magical place to be' 'This is what the first goal should be for most investors' 'I'm really passionate about making my students financially independent' 'Make your first goal something you know you can achieve' VALUABLE RESOURCES Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20). iphone:  http://bit.ly/pinAPP1 Android https://bit.ly/pinAPP2 Register at Mindset For Property at - www.mindsetforproperty.co.uk   ABOUT THE HOST Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32. Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk.    pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors. Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way.  How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth. Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book. Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals. CONTACT METHOD Contact and follow Simon here: Facebook: http://www.facebook.com/OfficialSimonZutshi  LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi Instagram: https://www.instagram.com/simonzutshi/