Plan of Attack

So… what do I need to do to get $1 million in a year? I figured that with my current $10,000 savings I would have to make 52% increase compounded each month to reach that magic seven figure mark. Wow, that’s huge. Stockbrokers would kill for ANY double digit growth, let alone 52%! Well, I’ve never been one to back down from a challenge and I’ve hit all my goals I’ve set myself - that’s 28 years of success behind me :P.

Like all good consultants, I’ve made a list of my options:

1. Gambling: Too much risk
2. Entering Competitions (eg. WSOP Poker tournament): Low probability
3. Property: Market slump, interest rates rising - not good enough!
4. Convential business: ie. slave away for a few years and hope it grows to a mega empire - sounds like too much work to me
5. Tattslotto: Yep, have already bought four entries for 26 consecutive weeks. This Saturday could be my lucky night! I can feel it…
   Here’s my lucky numbers:
   1. 08 21 23 27 33 35
   2. 04 06 16 28 38 43
   3. 02 10 15 30 35 39
   4. 17 19 26 32 37 41

   Haven’t won a dime yet so I’m down $56.20 on this investment.

6. Online business: Until I think of something better, this blog is it. I’ve made $1.12 so far from adsense - Probably all my own clicks :)
7. Shares: My first purchase today - MYOB (@$0.94)
8. Saving: Yep, can’t underestimate the conventional wisdom of cash savings. I’m on a healthy IT contract that pays out weekly so the more I save, the more I have to invest.

Alright, I must admit, these options are not really too clever - but hey, at least I’m attacking this from multiple fronts. With such a small starting capital though, I’m going to have to think about increasing my risk exposure with some good old leveraging. It’s time to investigate the best margin lenders and whether ANZ will give me a line of credit (I got my council rate notice yesterday and the latest valuation is up $20K from when I purchased it 5 months ago!)

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