Why you need to know your Why
Ask any young kid what they want to be when they grow up and without a moments hesitation, they will shout out their dream with confidence:
I am going to a fireman! An astronaut! A vet! A movie star! A famous ballet dancer!
Somehow, along the way, life beats those dreams out of us and we settle for the safe job, the sensible job, the one that guarantees an income, the one that provides a well beaten path for us to follow.
We leave our dreams behind us, put our heads down and focus on paying the bills.
But what if I told you that the very act investing in property requires you to have a dream? To have a strong why?
Property is not a get rich quick scheme, it requires hard work and dedication to be successful.
The road to financial freedom through property is littered with broken dreams from people who didn’t have a strong enough why.
Suzie, on the other hand, spent some time writing down dusting off those dreams by asking herself these questions and writing the answers down:
What do I want my life to be like a year from now?
Who do I want to help when I am financially free?
What legacy do I want to leave behind?
What kind of opportunities do I want to be able to offer my children?
What causes mean the most to me that I would be able to support if I am financially free?
Once she answered those questions, it was time to get practical by working out what the monthly expense figure to be replaced by the income received from property.
Financial independence is the status of having enough income to pay one's living expenses for the rest of one's life without having to be employed or dependent on others. Income earned without having to work a job is commonly referred to as passive income.
When you have a WHY, it becomes easy to create a plan. Tune in next week when we discuss plans - how to make them and how to make them work!