It’s true that if you invest wisely, you can grow substantial wealth through property investment but how big can you go? Can you double your net assets and keep doubling them to hit a $1million or even $1billion?
Strategic financial adviser, Andrew Courtney of Plenitude Wealth, says you can and he joined Hotspotting founder Terry Ryder for a recent webinar to reveal how the “Doubling Game” and real estate investment can accelerate the process.
His five key points are:
- It’s a simple concept but it gets harder;
- Start with the end in mind;
- The two important variables to understand;
- The sleep test; and
- Diversification is essential.
IT’S A SIMPLE CONCEPT
Courtney says it’s a simple but powerful concept, but he warns it does become harder the further along you go.
“Imagine starting off with $1000, you double it once you get to $2000 and you double it nine more times,” he says. “After ten doubling cycles your $1,000 will grow to $1million.”
Keep doubling 20 times and you can turn that $1,000 into $1billion, although realistically most people aren’t going to go that far.
“It’s all about how fast you can double,” Courtney says, “The challenge, as you move along the cycles, is that it becomes harder and harder to speed up the process.”
Courtney says achieving this level of wealth is impossible unless you’re an investor and ideally, he says, you want a scalable business which helps grow your wealth.
“Depending on where you are in the game and how much time you have, this will determine how much real estate comes into play.”
START WITH THE END IN MIND
The starting point for anyone who wants to grow their wealth, however much money or assets they have now, is to work out the end goal first, Courtney says.
“What you want to do is set some targets for the kind of passive income you want in your life from your investment portfolio.”
It is only once you have that end goal that you can calculate how to achieve it. Plenitude Wealth has a Free Workbook that’s designed to guide you through the optimised sequence of actions to double your net wealth faster without the risk of going backwards, losing time & money or lowering your lifestyle:
CLICK HERE to get Andrew’s Free Workbook.
