There is a philosophy that I believe is one of the most important things that anyone thinking of their financial future should consider. It will take most of the “Scary” out of investing and replace is with more of an urgency. If you are in your 20’s or 30’s it’s important. If you are in your 40’s or 50’s its vital. Since investing of any kind is mostly considered a “long term” process, it tends to feel like results are just too far off to have any benefit that could help today. That is largely true with a few exceptions. One of the exceptions is real estate investing. The reason I say that is on any given deal, there is the potential to create cash immediately plus retain the long term value of the asset and cash flow. ( you don’t have to understand that just yet) The main point is that if you are investing and not just speculating, you can actually predict almost exactly what your financial position will be at 5 years, 10 years 20 years and so on. Knowing that, you can create a game plan that will put you on your target income and asset goal at a specific time. Bringing me to the logic behind my philosophy…….
You can create a portfolio of one – two million dollars worth of tangible income producing assets (or more or less for that matter) in as little as ten years. That doesn’t mean they are all paid off, but it does mean that they are in your portfolio and getting paid off. If using mortgage terms of 10-20 years, they will be paid off in 10-20 years. If you are in your 20” and 30’s, you get to retire early with great benefits. If you are in your 40’s or 50’s, you get to retire, maybe not early, but very well. The longer you wait, the more important it becomes. This brings me to my philosophy…………
Assets don’t just come and go. They accumulate. If you have the fortitude to “Just Do It”, Then “JUST DO IT ONCE!” Meaning, commit yourself to 10 years of asset accumulation. Set a goal that fits your future and put it on a ten year timeline. After all….whats ten years if you can guarantee a great life for you and your family. Not to mention what you can do for your favorite charity or cause. Not to mention what you can leave for a legacy to your children and grand children. And perhaps the biggest benefit of all is that you have within your ability to change the financial course of your family for generations! and thats a big thing. All for an earnest commitment of 10 years to get the financial future secured for yourself and the generations that follow you. Do it right once and you will never have to do it again if you don’t want to.
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