FINANCIAL FREEDOM????

IT'S TIME TO SETTLE DOWN AND GET TO WORK!!! WE HAD TWO ISSUES OF MAIL AND GUEST COLUMNS AND NOW IT'S BACK TO THE REAL DEAL! IT IS TIME TO DECIDE WHAT YOU REALLY WANT TO ACCOMPLISH AND ACHIEVE. HOW MUCH MONEY DO YOU WANT/NEED TO MAKE? WHEN? ARE YOU AN INVESTOR, OR A CONSUMER? ARE YOU LOOKING FOR A PART TIME JOB? (THAT WOULD BE A FLIPPER!) HOW MUCH TIME DO YOU WANT TO PUT INTO THIS ADVENTURE? JUST HOW COURAGEOUS ARE YOU? WILL YOUR SPOUSE BE SUPPORTING YOU WHILE YOU DO THE INVESTING OR WILL THIS BE A PART TIME ENDEAVOR? OR LIKE TRUJMP DID YOU INHERIT YOUR NEST EGG FROM THE FAMILY? AT THIS TIME YOU NEED TO DETERMINE HOW MUCH YOU NEED TO LIVE WHILE YOU PURSUE THE INCOME YOU NEED TO REPLACE YOUR SALARY (AND BENEFITS) BECAUSE THERE ARE NO BENEFITS IN INVESTING--INSURANCE, SICK DAYS, VACATION TIME PATERNITY LEAVE ETC WILL COME OUT OF YOUR GROSS PROFITS. YES, YOU WILL BE THE BOSS AND CONTROL WHEN YOU WORK AND DON'T WORK BUT YOU WILL ALSO CONTROL THE CONTRIBUTIONS INTO FICA AND 100% OF THE RETIREMENT FUND!

ENTHUSIASM IS GREAT AND YOU WON'T GET FAR WITHOUT IT, BUT REALISTIC EXPECTATIONS ARE IMPORTANT TOO. LIKE I TOLD THE CLIENT WHO TOLD ME HE WANTED TO BUY 20 HOUSES IN A YEAR AND ONLY OWNED THE ONE HE LIVED IN WHEN WE FIRST MET TO DISCUSS IT, YOU HAVE TO SLEEP AT NIGHT BEFORE YOU CAN BUY THE SECOND ONE! AND THEN YOU BUY THE THIRD! AT THE END OF THE YEAR HE OWNED TWENTY! AND HE SLEPT VERY WELL THANK YOU WITH LOTS OF MONEY IN THE BANK!!! HIS FAMILY WAS HAPPY TOO!

HOW'S THAT CALENDAR GOING? DON'T FORGET TO ALLOW TIME FOR THE FAMILY AS YOU BUILD YOUR INVESTMENT BUSINESS! BUILDING WEALTH FOR YOURSELF AND YOUR FAMILY'S FUTURE IS MEANINGLESS IF YOUR FAMILY FALLS APART...

ANOTHER TOPIC TO APPROACH IN THIS SESSION IS YOUR VALUES. AS YOU DETERMINE YOUR GOALS AND SEE THAT YOU WILL BE ABLE TO ACHIEVE THEM YOU REALIZE THAT YOU WILL HAVE THE FREEDOM TO LIVE THE LIFE YOU CHOOSE AND NOT THE ONE SOCIETY DICTATES; YOU SUDDENLY FEEL A SENSE OF FREEDOM, ACTUAL FINANCIAL FREEDOM. SOMETHING FEW PEOPLE ACHIEVE IN THEIR LIFETIME. BUT MOST PEOPLE SAY THEY WANT. IT IS NOT REALLY ABOUT MONEY OR SETTLING FOR WHAT OTHER PEOPLE TELL YOU YOU SHOULD WANT. IT'S ABOUT WHAT YOU WANT.

ROBERT HERJAVEC WROTE AN INSPIRING ARTICLE ON LINKED IN A FEW DAYS AGO CALLED "BECOME A BILLIONAIRE-10 THINGS I LEARNED FROM CHARLIE MUNGER"; WHICH I ENCOURAGE YOU TO READ. IT GIVES TWO SEPARATE VIEWS OF FINANCIAL FREEDOM BUT BOTH ARE TRUE AND ACCURATE FOR THE PEOPLE INVOLVED. YOURS MIGHT BE DIFFERENT FROM THEIRS. MINE IS. ALL ARE OBTAINABLE IF YOU SEEK THEM. THE POINT OF THIS ASSIGNMENT IS TO DETERMINE WHAT YOUR DEFINITION OF FINANCIAL FREEDOM IS.

PLEASE DETERMINE THAT FOR YOURSELF AND WRITE IT OUT ALONG WITH WHAT YOU PLAN TO DO TO MAKE IT HAPPEN AND HOW LONG IT WILL TAKE TO HAPPEN. NEXT TIME WE WILL DISCUSS SOME METHODS THAT MIGHT HELP MOVE THE PROCESS ALONG.

AS ALWAYS IF YOU HAVE QUESTIONS OR COMMENTS PLEASE EMAIL ME AT realestateinvestguru@gmail.com ALL WILL BE ANSWERED HERE OR BY EMAIL DIRECTLY.

GUEST COLUMNS WELCOME.