The amount you need to quit your job & live on the income from your real estate investment depends a lot on the size of your investments. Let’s look at why.
Browsing: personal finance
Budget-building is a skill that an investor needs to master before they can worry about their long-term — investment — financing. These apps can help.
You can pretty much be broke at any age. For me, I was pretty poor…
There is one major prerequisite to becoming a successful real estate investor or entrepreneur that…
Do you act rich? Do you flaunt your wealth, or pretend to be rich by driving a car you can’t afford?
Well, you need to stop. Thomas Stanley who’s the author of “The Millionaire Mind” (which was fantastic) has a new book out called “Stop Acting Rich and Start Living Like a Millionaire.” Now, I have not read this new book yet, but I do have some advice which could save you thousands of dollars in the long run.
Why Not To Buy A BMW
I started investing in real estate in college and was able to make some decent money in my early 20’s. Then again, any money in your early 20’s is decent. And I ended up wasting a lot of it by doing immature things. For example, I had a BMW. I only had it for a short time because I realized it wasn’t me and I felt stupid driving the car around. I’ve also wasted a good amount of money on going to Atlantic City and Las Vegas.
Yes, I certainly believe in having fun, but you need to be smart and save your money–at least 10 percent of it. However, I’m not writing to you to try to get you to save your money. That’s common sense. The reason I want you to stop acting rich is to protect your assets and keep yourself from being a target of fraudsters.