Earning While I Ski
Last month a good friend finally bought an investment property. I’d been at him for years to get a passive income sorted so that when he finally hangs up his boots he could still earn an income. Phew, he’s finally on his way to building the equity he’ll need that will generate him an income without having to work.
We all know we need to do it, so why is it that it gets so little attention? Is it because we get caught up with the day to day? That’s part of it. But there is more.
While I love everything about property, it’s not my purpose. It’s not even the process of helping people generate passive income that is our core driver. The reason we keep doing what we do is the passion to help people achieve the lifestyle they dream of without having to work. That’s our passion. Financial advice and buying property is our craft – helping people fund their dream lifestyle with passive income – that’s our passion. For more than 15 years we’ve been encouraging people to dream of the lifestyle they want and then helping them build the passive income they need to make it a reality.
It is incredibly rewarding to see the positive, long-lasting contribution we have been able to make to peoples’ lives. Property is great, it’s challenging, but it’s what we can help people achieve with property that is purposeful and rewarding.
My point is, I think the motivation to get stuck in and follow through with creating passive income, comes from engaging with the importance and purpose of doing it.
The best way I know of kick-starting that is to grab a piece of blank paper or 10, a pencil and an hour without interruption, and start writing about what you want your life to look like if you didn’t have to work to create an income. What would you do when you wake up, what would you eat, how often would you exercise, where would you travel to, where would you stay, who would you help, how will you change yourself and your part of the world. Put heaps of detail in, to make it as vivid as possible.
Doing that will really help to bring things alive, you will really be able to see and feel it. Does it work? Well, I can tell you it won’t work if you don’t follow through with developing an action plan that you act on. But I also know that if you go about trying to build significant wealth without a clear vision, there is a much greater chance you’ll give up or create a puddle instead of a lake.
Part of my dream is to be able to go skiing where I want, when I want, for as long as I want. As a father and husband, I’ve come to realize that the ability to achieve this is not entirely financially dependent. I’m not sure that a note on the bench saying “gone skiing see you in 3 months” would result in a warm welcome home. But…if the kids grow up and don’t leave home, then it’s really important I can afford to escape. I need to be earning while I ski.
Right then. Once you’ve done that, the rest is easy. Well, actually it’s not. Like anything worth having, it’s hard work. But it’s a lot easier than having to stop work with just the government pension. What’s the SAS motto? Train hard fight easy.
Next answer these questions: How much will it cost to pay for that lifestyle every year? What equity will you need to generate that income? How can property be used to help generate that equity? What is the right property? Where should you buy? What about tenants? What about….
If you want someone who is passionate about helping people answer these questions, who works with a team of people expert at guiding people to their wealth goals using property, then contact me.
What’s your “earning while I….” dream?
Click here to see my latest article of how we helped one of our clients from their financial plan to the creation of their portfolio.