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Updated over 3 years ago on . Most recent reply

User Stats

28
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David Banker
  • Rental Property Investor
  • Algonquin, IL
5
Votes |
28
Posts

Flight path to FI question

David Banker
  • Rental Property Investor
  • Algonquin, IL
Posted

I am attempting to lay out my financial path to semi-retirement (i.e. leaving my current w2 for something less time consuming/more enjoyable) within 10 years or less.

I can identify my family's spending now and what I project after semi-retirement, which I have done for the most part BUT that part of working backward and laying out milestones to achieve x number of properties or cash flow or equity, all the while maintaining a proper amount of contribution in my workplace retirement plan and other tax adv/def approaches.

I imagine i'd need a tax resource and a financial advisory resource, both of whom are knowledgeable on the notion of 1) real estate and 2) retirement planning before traditional age. Can I find a pro on BP who is an expert in both? Am I thinking about this corectly? I understand that I could also just go-go-go and build as quickly as possible, but I still feel it is wise to know what my lifestyle goals are and a logical path to getting there.

Thank you all in advance for any guidance or advice!

Most Popular Reply

User Stats

1,478
Posts
1,270
Votes
Paul Moore
  • Commercial Real Estate Fund Manager
  • Lynchburg, VA
1,270
Votes |
1,478
Posts
Paul Moore
  • Commercial Real Estate Fund Manager
  • Lynchburg, VA
Replied

Hi @David Banker. I agree with @Taylor L.. I just spent a week with the real estate guys radio team in belize and another week in a mastermind with a bunch of high-powered real estate investors. I learned a lot and I was encouraged to continue to grow my business. Putting yourself in the midst of great people who are not selling anything, starting right here on BP, is the way to go.

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