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Updated almost 6 years ago on . Most recent reply

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Marisa R.
  • Developer
  • Atlanta and Detroit
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What is the income want to achieve for FINANCIAL FREEDOM

Marisa R.
  • Developer
  • Atlanta and Detroit
Posted

I am sure everyone has a different view on this  topic and of course it's dependent on what your needs are.

Some perhaps will want an overseas trip every year, wining and dining every week, some  toys along the way and others will be prepared to live a simple life.

What income are you aiming achieve......from property investing? Your end goal? The holy grail for you

Most Popular Reply

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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

Lifestyle inflation unchecked equals never having financial freedom, no matter the income.

Being content is a place inside us.  I have been punch the clock free for many years, but my freedom number was much lower in 2002 than the numbers being discussed here so far.

The beauty of RE is when the loans fall off, your income increases dramatically with no extra work. I think people forget that. In 5 years this loan will die. In 2 more, that one, and so on. May even get motivated to pay some higher rate ones off sooner instead of getting a new whatever. But that requires discipline.

Now we focus more on the why, like giving back.  It can be about the how or how much your entire life if, golly gee, the more you make the more you spend.

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