Today it’s time to think big… really big.  We’re thinking about your family and what the future holds for them vs. what you would want the future to hold for them.  We’re talking about Ginormously Audacious Goals, pictures of prosperity that will make other people GAG when you speak of them.

For example:  One person wants their family to be happy, with enough money to spend $1000 per person on a vacation every summer, and to be mostly out of debt.  That’s a reasonable, little, non Gag-worthy goal.  Their GAG would be something like:  Extremely happy family, that enjoys their 12 bedroom mansion with a pool and jacuzzi, new furniture every year, no debt, every summer the family rents a castle in Scotland where trained monkey butlers serve them whatever they want, meanwhile they receive golf lessons from Tiger Woods on Tuesdays, and use dollar bills for kleenex since it’s more convenient.

That’s the kind of wealth you can GAG on.

Mine is to be debt free and be almost to my first million dollars in 5 years.  It looks impossible to me, which is why it hits my GAG factor. 

I should do a breakdown of this though.  It is a 5 year plan after all.

Year 1: Focus on debt reduction, every extra penny available goes towards paying off a debt of some kind.  Combined with job searches and development on the blog for extra income, we could have a third or more of our debt taken care of.

Year 2: Maintain debt reduction focus, devote 10% of income to high-yield investing and 5% to more stable secured investments.  Look for work that pays significantly better while improving in current job.  Ideally, Financing Your Family dot com will be earning money by now, which will go towards advertising or a potential paid review.

Year 3: Debt paid off now, hopefully income from work and blog will be double what current income is.  Extra cashflow won’t go to improved standard of living, rather half of extra will continue to go to the high-yield investments, the other half will go to the more stable secured investments. 

Year 4: Luck out and pick a stock that quadruples in size, I sell all that I have of it, and watch as it bottoms out in the next 4 days.  Everyone loves this blog, it brings in $90,000 a year, but my wife and I continue in our day jobs, earning an additional $70,000 a year.  We still live off of $18,000 a year.

Year 5: We buy a house in cash and are thrilled as home values in our area skyrocket the next month.  I get a guest spot on CNBC and am now able to influence stock prices firsthand, I play the market while financingyourfamily.com has ad-space valued at $4.00 a pageview.  Every month the site makes $45,000.  My wife quits working so we can have children.  We now live off of $45,000 a year, and have a net worth of over $1,000,000.

I don’t think this will really happen, but that’s just one way that it could happen

What is your Ginormously Audacious Goal?