Goal Setting
The FIRST STAGE of my retirement plan is to become an Average Accumulator of Wealth before I turn 40. The book states that a person needs to have a net worth his/her age multiplied by his/her annual household income then divide it by ten to be considered an Average Accumulator of Wealth.Age x Annual Income / 10
This formula provides an exact figure serves as my first goal. Although it is prone to changes, since future income is unpredictable, I used the inflation rate to establish a conservative estimate of my future income.