What is the 10 year target — and how can you reach it?
Napoleon Hill writes in his book Think and Grow Rich, that if you want to get what you desire you have to envision it and make a plan on how to reach it. This was the beginning towards creating my 10 year target. He goes on to give the reader a step-by-step guide on how to do this:
6 steps to turn desire to wealth
- Fix in you mind the exact amount of money you desire. Be definite about that amount.
- Determine exactly what you intend to give in return for the money you desire.
- Establish a definite date when you intend to possess the money you desire.
- Create a definite plan for carrying out your desire, and begin at once, whether you are ready or not, to put this plan into action.
- Write out a clear concise statement of the amount of money you intend to acquire, name the time limit, state what you intend to give in return, and describe clearly the plan which through you intend to accumulate it.
- Read your written statement aloud twice daily, once before retiring at night, and once after arising in the morning. As you read — see and feel and believe yourself already in possession of the money.
I was inspired by this when I read the book a few years ago. And I went straight ahead with my target. The value of my holdings at the time I do not remember. The amount I desired however was 2,000,000 Norwegian Kroner (≈ $230,000). And the definite date I intended to possess this was December 31 2020.
My 10 Year Target
As I write this the calendar states that it is June 2019. And although I do not have exactly 2,000,000 NOK, the time until my initial target date is so long that I am certain that I will reach this. I see and feel and believe myself already in possession of the money.
And since I am already certain that I will reach my initial target, I am starting to work towards my next target. This blog and my Twitter account is created so I can document my progress and also inspire others to come up with their own target and plan.
So, as you probably have guess, the 10YearTarget is target I desire to reach within the next 10 years. My last target seemed too modest. So this time I will do this more thoroughly when coming up with the amount. An amount that is not just out of thin air, but an amount where I have crunched the numbers. Where I have found out that this is the amount I do desire and which is obtainable, yet challenging enough.
How you can make your own money target
So, now that you have read about my 10 Year Target, time to go ahead and work towards your own. First you need to figure out exactly how much money you want. Of course it is hard to know ‘exactly’ how much you need, but in order to make this target, we need an exact number. It could be 100,000 dollars, it could be 1,000,000 dollars or it could be 10,000,000 dollars. Whatever. The numbers depends on you. Crunching some numbers might be necessary to know what number to choose. I did this and I will write about this soon.
Then you find out ‘when’ you desire this amount. The combination of amount and time should be bold enough to make you work hard for it, but not impossible to reach. Saying that you desire 10,000,000 by the end of the year if you have a salary of 30,000 is not a good target. Neither is saying that you desire 4,000 dollars if this is what you are able to save in three months.
When you have your target you need to find out how to reach this. But reaching your target is much easier when you have it clear in your mind. In later blog posts I will show you how I figured out my exact numbers, and how I plan to reach them.
Have you defined your target? Please let me now in the comment section.
Originally published at https://10yeartarget.com on June 8, 2019.