A decade to get it right.
The truth is many Americans will coast along until something stops them.
whether that’s looks, health, wealth, accidents, job firings, etc.
We all love the KFC man journey finding his pot of gold in his 60s on, but let’s be honest he woke up when the social security check hit him.
You have to plan and take action or your 50s and 60s could be filled with pain, working jobs you do not like, and living with a spouse or relationship you would rather be free from.
The video below is a woman who spent 9 years living rent free but still did not have 7,500 dollars to buy her house that was given to her by her JAILED former boss.
Well the city auctions the house and a company in Singapore pays 75,000 dollars for it. Cities all over USA have failed to keep good inventory or sell homes quick enough so they do not just ROT away.
But the bigger picture here is HOW for 9 years with no RENT payments has this woman not be able to save 7500 dollars? Just 833 dollars every year for 9 years or $70 bucks a month. She had to know it was coming, putting just a $100 away a month in case the city did kick her out.
Many may think i am being too harsh. I am not being harsh enough. Parents are showing their children how to live, work, and invest.
I am guessing that this same woman probably doesn’t have an retirement account or long term life insurance. WHY?? because she would have been able to get a loan against the money being put away. See the problem is there is a long game here that many Americans are missing and refusing to educate themselves on it. UNTIL a crisis happens, the real estate bust or the stock market bust or the next upcoming event. Many will say I just didn’t know. Well here is your chance to know.
Here is what I overall think about a decade. A decade shows the real you. A marriage, relationships, jobs, and DECISIONS. Over the course of a decade the decisions for relationships, friendships, job choices will eventually reveal themselves.
If you do not know where you will be in 5 to 10 years, you are already there. You must plan to WIN or you are just surviving. surviving is not thriving.
Three ways to win via robert kiyosaki cashflow quadrant
- real estate
You name it Oprah, Bill Gates, Mr Peebles in Florida 80% of all multimillionaires have real estate in the bulk of their investments.
For long term success I think businesses you can control, even on the side and real estate are the way to go.
1 house a year for 10 years. In 10 years when your friends are complaining about work, family expenses, no vacations, no retirement you will be looking at $8000 to $10,000 coming in a month to 100k a year additional MONEY not counting your paycheck.
Lets say you create a business and over the next 10 years work on it build it up, have clients. In 10 years even if that business just gave you an extra 30k to 40k income a year, you are in a bunch different place than your friends complaining about taxes and low pay as they are in older age.
A decade is a long time and you may not like my other choices. Feel free to drop an addition 100 to 400 dollars a month into other options. Stocks, monthly dividend stocks, gold, silver, notes.
The purpose of this is to say make a decision. Future you will be glad.