Ultimate Retirement Plan | GSK Wealth Builders

Complete the statement below

I want to retire at age ______ This is in ______ years

I want to live until age ______ 

And I will be Retired for ______ Years  (Years Retired)

When I'm retired my annual expenses will be
 $_______________ (Expenses)

Right now I have $__________ in my retirement account (Current Retirement Savings)

Input Variables

Total Needed = Expenses x Years Retired x 1.25 percent (tax)

Shortfall = Total Needed - Current Retirement Savings

Yearly Savings Shortfall / years retired

Monthly Savings = Yearly Savings / 12 months

Assumptions

Avg 2 Family Home Cashflows $500/month net

Downpayment $25k to Hold or Rehab for $30,000 profit

Formula

Monthly Expenses = Yearly Expenses / 12 

Units Needed = Monthly Expenses / Cashflow

Capital Needed = 25k x Units Needed

Rehabs to complete = Capital needed / $30,000

Total Rehabs / 5 years

Every 20 offers = 1 Deal Rehabs x offers = amount of offers

Example (always round up)

Yearly Expenses $60,000

Monthly Expenses $5,000

Cashflow $500

Units needed = Monthly Expenses / Cashflow

Units needed = 10 Properties

Capital needed $25k x 10 = $250k

$250k/30,000 = 9 Rehabs

9 Rehabs/5 years = 2 rehabs per year

If you can rehab 2 properties per year,

you can retire in 5 years with an income of $60,000/year

Difference = Shortfall / Capital Needed

Sam Kakembo
~ Keeping Dreams Alive ~

P.S.  This is how I did it.
Warning: don't watch it unless you're prepared to get in, now.

P.P.S. Checkout our income disclosure while you're at it - here.

Again, click here - watch the hangout and leave me your thoughts in the comments.