Clicky

Search:

The Risk Hurdle

May 27, 2016 by  
Filed under blog

Financial independence or Financial Freedom (let’s call it ‘FF’ for short) carries many connotations. Ask ten people what these terms mean to them and you will probably get ten different answers.  Many people today have dreams of becoming financially independent, however only a small percentage of the population actually achieves this envied position in life.

FF does not necessarily mean being rich or having a million-dollar bank account.  It simply means having enough money to do what you want to do, when you want to do it. It means you are free from money worries, so you can pursue the things that interest you most in life.  Having FF doesn’t necessarily mean retiring and giving up all your ambitions and goals in life to just grow old.  Actually, quite the opposite is true. It allows you the freedom to put more time and effort into your work or hobbies than ever before, but from a new perspective–that of personal fulfillment and enjoyment from doing work because you want to and not because you have to.  This is true Financial Freedom!

A rather fatalistic poet once wrote, “Life to many is but a constant struggle for a mere existence, with the assurance of losing it at the last.” This is a sobering thought when you consider the United States to be probably the wealthiest country and one of the most productive in the world.

FF does not come easy. Achieving it does require some sacrifices and an element of risk.  It’s human nature to avoid taking risks and who likes to make sacrifices? After all it’s easier to spend your earnings or maybe put some money away in a safe and insured account where your hard earned money is guaranteed a fixed, albeit a very low but stable return. This then, is the great paradox in achieving FF in today’s world.

It is virtually impossible to avoid all risks at one given time, because no matter what course is taken with investment dollars, there will always be a certain degree of risk involved. The real estate investor has to be prepared to take calculated risks and be willing to enter into the unknown, if they truly want to achieve FF.

To state the problem without at least suggesting an answer is unfair. Next week we’ll talk a bit more about this, about why we are averse to taking risks even when FF is our highest desire. Understanding why can be key to recognizing where your hesitation comes from and gives you a chance to conquer it!

Green Up Yourself and Grow Faster

May 20, 2016 by  
Filed under blog

I don’t know about where you live but here in Utah Spring has finally sprung!!  How wonderful it is to see everything turning green and growing.  For me, I find that Spring stimulates me to grow more green stuff. I am actually talking about growing more money but more than that, I want to grow myself in many parts of my life.

As I see more and more people out and about, running, jogging, working on their lawns and gardens or fixing their houses, it pushes me to set more goals for myself.  So my theme for this week is: Let’s get out there and make our lives blossom not only financially but in how we live our lives.

Let’s use this spring time to increase our activities and grow.  We can start by simply getting out there and making this happen.  Like driving through more neighborhoods looking for properties that need a face lift. Look for beat up properties, especially the ones that might have a for sale sign posted by owner or realtor. It might mean that a house just needs the front painted or a beat up lawn needs to be re-seeded and have a few great looking trees or flowers planted with a nice little white picket fence to surround it.

If the house is beat up and shabby plus it looks vacant, take the time to find out who the owner is because it’s quite likely that the owner is a motivated seller. I’m not saying that you should not use the internet to search for properties, because that is a very fast and efficient way to find properties, but sometimes it can be so super refreshing to get out of the office or house and drive around neighborhoods. You may find things you would not have found online as well.

Also, don’t forget to do a ton of asking around … you know, that thing called networking.  Do it in every circumstance you can think of. At parties or over lunch or at work, be sure to ask people if they know of any properties in their area that are for sale, especially houses or apartment buildings that look like they are in disrepair or have sellers that are anxious to dump the property.  You can leverage yourself, big time, by tapping into other people’s brains and connections.

And while you are at this ‘greening up your springtime’, be sure to set some personal goals for yourself, whether it be for better personal health or to be a better parent, friend or spouse.  Let’s all make this springtime thing a growing and greening of ourselves and those around us!!

14 WAYS FOR HAPPINESS

May 12, 2016 by  
Filed under blog

Happiness is something that everyone wants but I’m sure you know of many people that are not happy. Most of us find ourselves happy for long and short periods at least here and there but we also have many times in our lives that we are not so happy and may even be downright depressed.  For years now I’ve kept a large card in my planner that I look at once in a while. It’s a list of “13 Ways for Happiness”.  I don’t remember where I got it but it’s pretty darn helpful, so I wanted to share it with my readers and I hope you make a copy of it and look at it often and share it with others.

13 WAYS FOR HAPPINESS

  1. Buy Experience—it’s so much more satisfying and long lasting if you spend your money more on experience than buying stuff.
  2. Get Quality sleep.
  3. Take time to write down what you are grateful for and write to others sending your gratitude.
  4. Surround yourself with happy people.
  5. Tidy up and get organized.
  6. Boost your endorphins through exercise and, remember, that if you smile, even if forced, it will boost your good brain chemicals.
  7. Give back through volunteer work and random acts of kindness.
  8. Learn a new skill.
  9. Pay yourself first.
  10. Go offline.
  11. Be on time.
  12. Be true to yourself.
  13. Every day take note of 3 positive things in your life.

To this list I would also add a big one that seems to always help me, not only in my financial life but in boosting my happiness factor, and that is to set big goals and little goals and write them down complete with a due date on each. So make that 14 ways to gain more happiness!