This morning I’m going to follow Jeff Brown’s lead and encourage all of my clients, friends, family and readers to take an honest look at their finances today.
What is your retirement plan? What lifestyle do you want to lead when you stop working? Can you afford to stop working at 60 or 65? Can you stop working at 35 (as two of my clients are planning to do) ?
Is what you’re doing now going to get you where you want to go? If not, then isn’t NOW a pretty good time to make some changes?
Sit down and look at how much cash you have on hand, how much equity is in your home (earning very very little, I should add), how much you have in your RRSP and unregistered savings.
Could you afford the downpayment on an investment property? Whether it’s a duplex (initial cash investment required: $0-$20,000) or a large apartment building (initial cash investment required: $100,000 +) you probably could.
What will your financial picture look like in 5 years if you took $250,000 and invested it in real estate? See this post for a quick answer. For those of you withouth $250,000 burning a hole in your low interest bank account, don’t fret: the potential to accelerate your equity through leverage is inherent in every real estate investment, not just when you’re starting out with 250K. I have clients who have bought their first investment properties in Kitchener Waterloo (duplex, triplex of fourplex) with zero down, and have done very well with that.
Do you have a Financial Future Focus of where you want to go? If not, invest a few hours of your afternoon today and let yourself see where you could be in 3, 5, and 10 years if you started execuiting your investment plan.
I would love to help you develop your Financial Future Focus and start executing a purposefully desigend investment plan. Call or email me, and we can set up a meeting at your leisure. DON’T FORGET – You can still register to attend Invest & Grow Rich, taking place on Tuesday February 13th. Information on this event is here.
Benjamin Bach is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He is passionate about building wealth for his clients, and loves nothing more than to help people start building equity and get on the road to financial freedom and abundance. He wakes up each morning excited to fulfill his mission of building wealth for his clients through comprehensive Real Estate investment planning, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions about buying a home or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.