Here's a definition of“Rich”that I like:
“Rich” is the ability to wake up in the morning with the physical health, knowledge, friends, financial freedom, and passion to do what you want that day.”
Financial freedom occurs when your annual investment income (your money at work) exceeds your annual lifestyle expenses.At this point you have“Wake-Up Money.”
Many clients have achieved (or are on the path to achieving)this “Wake-Up Money” lifestyle.Many of them have modest incomes but have become “rich” through their investment in local real estate - specifically homes and condos.One client in particular comes to mind who has never earned more than $30,000 in a year but currently has over $50,000 a year in “Wake-Up” money from his real estate portfolio.
These clients understand that we have 3 choices in life.
1.You at work.Do you worry you will have to work the rest of your life?
2.Your money at work.Do you dream of someday not having to work?
3.Charity.Do you worry about being dependent on others?
If you prefer Choice 2 and want to get on the path to “Wake-Up Money,” this easy investment model is devoted to showing you the way.
Peter Lynch, the great stock market guru and author of “Beating the Street” was once asked what he thought was the greatest investment.His answer:“a single family house.”
An Easy Investment
Homes are one of the three basics of life: food, shelter, and clothing.Homes and condos are easy investments that most people understand because they already own them.Ask yourself these questions: Do I own a home?Has it been a good investment?What would my net worth be like if I owned 10 of them?What would my lifestyle be like if they were all free and clear?
The “Wake-Up Money” Easy Investment Analysis and documentation was developed by Larry Kendall and The Group, Inc. Real Estate, and Tim DéLeon of Focus 1st,LLC, and all information associated with it is copyrighted and is used with permission.