Tiffany messaged me a few days ago. CNY is near, and Dad spent time with the Yeh Family, playing majong etc.
Tiffany messaged to say that my dad looked great! And said he was bragging about me.
I was a little surprised, that how much my success impacts Dad. It means he has so much more face in front of the Yeh family. It means he can brag about me.
That’s cool.
He called me the next day. He explained that he told the Yeh family that I can expect to earn $200K USD by next year. Well, technically I think I did this year already!
It’s smart of him to describe my success in future tense thought. I just learned recently that people are more interested in the potential of big success as opposed to current success. He is smart. He says he is doing it to get them interested in working with me.
I’m so happy that Dad was happy!
My net worth is about $465K CAD right now, which is over $100K more than last year! I need to make another $300K USD then I’ll have $800K CAD saved up, which in theory will allow me to generate $50K passive income per year (about $4K per month). Then Mom and Dad can each have $2K per month.
Though in reality I do need some spending/living money, I do need some money to invest in more products, some of my existing money is in RRSP, and, I probably won’t be able to give all $800K into dividend-generating investments.
So more likely, I’ll put as much as I can each year towards diversification and dividend-generating stocks, building towards $800K or even more, so Mom and Dad can have $2K per month. Next year I can set aside $100K to $300K.