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Regular readers of this blog will know about my early retirement plan. Each retirement option that I have laid out in my plan requires an extensive period to realise. For example, option A of my plan is to wait for my condo to appreciate in price from 1.7M to 2.5M so that I can sell it off and retire to Malaysia.
Despite these long term plans, it is still important to have short term goals to make sure that I am on track for my early retirement in Singapore.
(Editor note: I have to rewrite this whole post because wordpress refuses to save my first draft despite my deliberate attempt to click the ‘save draft’ button. Damm you WordPress!!)
2013 short term goals for each retirement option
Goal for option A: Not much I can do here. It is all about waiting for the market to catch up to my price expectation. The good news is that prices are moving faster than I though it would be (See this post on why I think my condo can sell for 2.5 million dollars). My initial expectation was the price will increase about 70-90k per year. To my surprise, I have already seen price increase of 300-400k within a year. That is very good news for my early retirement.
Goal for option B: My option B was to develop websites that give me USD5K per month when I am 40 years old. This year, my goal is to grow the Amazon portion of this online income from USD200 to USD1k per month. I think this is very realistic and I will explain why later in the post.
Goal for option C: Option C is about joining a startup that can potentially grow fast and make lots of money. This year will be the do or die year for the startup that I am in. If we can hit our growth target by end of March, it will put us in a good state for solid profits by end of the year.
How to make 1k in amazon earnings
Among the 3 options, option B has the strongest correlation with the amount of effort that I am putting in. 2012 has been a rather lackluster year for me in terms of growing my amazon sites. What I did was to start a couple of such sites at the beginning of 2012 and promptly left them there without further development. It surprises me that they manage to produce USD200 per month despite the minimal effort being spent.
What I am going to do is to select 3 of the best converting sites and grow them. These 3 sites are currently bringing in less than 10 people per day but they convert so well that they are among the highest in terms of earnings. What I will do is add more content to them as well as to solidify their authority with a couple of good links. Doing so will bring in more search traffic and subsequently, more revenue. My expectation is that I can increase their traffic by at least 3-5 times within this year.
I hope readers will also take some concrete actions this year to move them closer to their early retirement. I wish everyone the best of luck in 2013!