Aspiring Millionaire shares the journey of a blended family from various backgrounds working towards financial freedom, using what we have and getting resourceful.
Having gone through divorce and rebuilt our lives, it is almost as if we are starting over again, only this time, with more knowledge.
The image at the top of this site is one I took in Munda, Solomon Islands. We had both always had the goal to get our own catamaran and sail around the world. When this pulled up in Munda, as I was becoming a certified diver, it suddenly all felt possible to me. I took the pic and sent it to my partner who was in another part of the Solomon Islands at the time and he agreed.
One day, that would be us.
Our goal – to create financial freedom for ourselves AND our extended family.
Ideally we will be in a position to retire fully if we want to within 5 years.
We do not come from wealthy backgrounds. In fact, Mr Aspiring Millionaire grew up in Vanuatu in what most Australians would consider poverty. When we met, he was working in the Solomon Islands for less than $10,000AUD.
I went from homeless single mother after divorcing my abusive husband to multiple international award-winning CEO. But the divorce, custody battle and protection orders took everything I had to keep my daughters and I safe.
About Our Family
We are a culturally and linguistically diverse family of 5, soon to be 6.
Ms Aspiring Millionaire (me) – 35 year old Caucasian Australian with 2 daughters (aged 11 and 13, part Maori, part Tongan and part Caucasian Australians) from my previous marriage. I work mainly in marketing but am fairly flexible, taking on projects I enjoy rather than working constantly. Family is everything to me so I structured my life to be flexible around us and what we want. I’m also pregnant with our son.
Mr Aspiring Millionaire – 30 year old Ni-Vanuatu man with 1 daughter (aged 6, half Ni-Vanuatu and half Solomon Islander). Currently working on our business projects. Previously, he worked in diving and as a seafarer/marine engineer. He was requested for and went on the expedition to find Amelia Earhart’s plane. He’s also fluent in 4 languages and attempting to teach the rest of us.
Our kids range from almost born to 13 and have multiple cultures. We try to be inclusive of all of them and teach them elements of their heritage as well as travelling to the various countries we now call home when possible. The 11 and 13 year olds plan to be millionaires by 18 and are developing their own businesses.
We live in Noosa, Queensland now.
Why Aspiring Millionaire?
The real goal is total financial freedom. $1,000,000 is easy to track and a goal many people have. That $1,000,000 will be income generating assets mostly, not $1,000,000 cash. Although, if I cash it all out it would be $1,000,000.
I won’t retire when I hit $1,000,000, instead I will continue to grow and invest as ideally, I want to leave a legacy, help more people and ensure my children know the value of building an empire.
I had a website called Aspiring Millionaire years ago, achieved millionaire status then had to use most of it in court against my ex and to get my daughters the help they needed (speech therapy, autism diagnosis, psychology etc).
So I wiped it and revived the name for this new goal.
How Will We Do It?
Did you know that doubling your money 20 times will get you $1,000,000 if you start with $1?
$1 x 2 = $2
$2 x 2 = $4
$4 x 2 = $8
$8 x 2 = $16
$16 x 2 = $32
$32 x 2 = $64
$64 x 2 = $128
$128 x 2 = $256
$256 x 2 = $512
$512 x 2 = $1,024
$1,024 x 2 = $2,048
$2,048 x 2 = $4,096
$4,096 x 2 = $8,192
$8,192 x 2 = $16,384
$16,384 x 2 = $32,768
$32,768 x 2 = $65,536
$65,536 x 2 = $131,072
$131,072 x 2 = $262,144
$262,144 x 2 = $524,288
$524,288 x 2 = $1,048,576
If you start with $100, you only need to double it 14 times to get to $1,638,400. Personally, I will start with $100 but the same principle applies with whatever amount you start with. Obviously, in the beginning it is easier to double your money than it is at the end. That doesn’t mean it is impossible.
Alternatively, create something to sell. With a $1 profit if you sell 1,000,000 there is your $1,000,000. With a $100 profit you only need to sell 10,000. If you have a $1,000 profit per item, you only need to sell 1,000 of them. See how doable it can be with the right product or idea?
Even more if you then invest the money you are making to either generate more business, buy shares or real estate. Always be looking for ways to make your money work for you.
How To Double Your Money
To start with, I’ll be looking at buying items to resell. I’ve done this before with great success and have read a lot more about doing it. It’s been a while since I’ve done it, so it will be interesting to see how it goes.
Later, I plan to flip websites then real estate. At the same time, I am looking at ways to start making money from nothing. For example, writing eBooks, creating courses, drop shipping etc. All those things can be created for nothing and sold with good marketing.
We also have some opportunities elsewhere through family we are looking into.