What’s after Financial Freedom?

Question

Hi Everyone!

I am working on a project and I am interested in hearing from all who have achieved financial freedom from real estate.

- What are your ultimate goals/What else do you want to accomplish?

- How do you spend your time?

- Are you fulfilling your dreams and leading a life of significance? If so, how?

- Have you kept the same “Why” you began your real estate journey with? If not, how has it changed?

- What makes you truly happy? How are you creating more of these experiences?

Thanks in advance for your time and input!

Michael Ealy · Answer

Great questions Matt. You should make a podcast out of this.

I've achieved financial freedom over a decade ago.

So to answer your questions:- What are your ultimate goals/What else do you want to accomplish?Answer: to acquire over $1 BILLION of profitable real estate investments and help 100 people along the way. I am putting up a non profit to provide college scholarships to 50 orphan kids and help 50 real estate investors become millionaires by partnering on deals.- How do you spend your working time?Answer: Depending on the week or day, I spend 50% of my time on real estate investing, 10-25% in coaching my kids' sports activities and 10-25% helping my church. If I will include the non-working time, then travel and learning new things will be included in the list. For example, I am an avid reader and physical fitness enthusiast (work out several times a week...almost daily). I am also learning Mandarin.- Are you fulfilling your dreams and leading a life of significance? If so, how?Answer: Yes I have. I make more money in a month than most people make in a year. So I can buy whatever toys I want. I could buy a fancier car or several cars but I am not a car person. I like helping people and that's how I live a life of significance. For example, I have PAID OFF the mortgage on my mom's house, bought a car for my niece, and as I said, help my church. Now, with a bigger vision, I want to help MORE people.- Have you kept the same “Why” you began your real estate journey with? If not, how has it changed?Answer: it's more or less the same why. To live a life of abundance so I can give to my family and others abundantly.- What makes you truly happy? How are you creating more of these experiences?Answer: spending time with the kids, and helping people. I am creating more of helping others by enlarging my vision. With $1 Million in properties, you can help a few people, maybe your kids. With $10M, you can help a lot more (now includes your relatives) and with a $1 BILLION or more, now you can make a real impact on the world.

Jay Hinrichs · Answer

I would not call real estate financial freedom  we all work our butts off to get to where we are at or want to be or whatever.

I would call it something else  like financial independence  because we do have to continue to work at the craft.. at least I do .. but to me its not work never has been.. so if I look at it that way I got there at 18 years 4 months and 15 days .. the day I got my first commission check.

AS for giving back I started aheroshome.org and we have raised almost enough money to give that house away to a first responder I want to honor our true American heros in this manner.

but as a life long real estate dude its just a lifestyle its not a job.. and hopefully my lifestyle will continue until I ride off into the sunset for good.

Shawn Coverdell · Answer

When I worked a W-2 slave job. I had a certain number that I considered my "freedom number" read that somewhere. sounded cool. I hit that number rather quickly and kept remodeling homes for rentals. Today I make several times that number, yet I just got back from laying down another Lego floor.

I took a break on the front porch around 7pm and pondered the thought that most of the neighborhood was home from working (those few that choose to work). They are probably sitting on the couch watching the latest TV show. trying to forget about there financial stresses, backstabbing co-workers and the boss they wish they never had but do. wondering what politician is responsible for there woes. 8 or 10 hour shift, 5 days a week, same tasks. Expendable, replaceable, Beat down and misinformed. I look across the street and see a 40K truck and a 50K fifth wheel parked in driveway.

Only recently, did my wife get her nails professionally done for the first time. No point while she was working as my electrician and laying tile. Just bought her first "new car", a used 2017 Honda HRV.

I can't tell you how grateful I felt while laying that flooring. I in no way have to do so. I feel so free, but I work daily and I love it!!!

Power is having the ability to buy a fleet of any car on the lot. One in each factory color produced, Yet exercising restraint. and being content with your 1999 F350 Diesel with faded paint and scratches, heading to the dump with another load left by liberals.

I think it is that Power that leads to freedom. Remember when you finally mastered Asteroids and got your initials in the top 10?  "All your Bases, Are Belong to Us". No, you can not take it with you, Yes your kids will sell all your boxes and blow it on candy. You will not be here and you will not have to watch them fail.

It's all about beating the code. Beating the game. "I want a name when I loose."

Shawn Coverdell

Homes in the Hood

Tony Antonelli · Answer

@Matt Engle

My wife and I reached financial freedom through a combination of my niche-of-a-niche trade and investment in vacation rentals. We could afford to live soley off the income from our investments but I still work that trade a few months a year and we're always on the lookout for other RE investments to expand our portfolio and turn cash into wealth. Other than that we live in an RV, travel the country visiting family and friends, fly fishing, skiing, and just generally enjoying all this amazing country has to offer.  It doesn't suck 🙂

Greg Dickerson · Answer

@Matt Engle giving back and helping as many people as possible achieve the same. This is what I do and what occupies all of my vocational time.

Joe Splitrock · Answer

@Matt Engle true financial freedom only comes when you have so much money that you decide to give it all away.

Most people who have reached this place in life are not on BiggerPockets. This forum is mostly visited by people who are growing their business and accumulating wealth. People like @Jay Hinrichs are the exception. He is here to help others, rather than advance his own success.

To answer your question for me personally, I have reached a level in real estate where I can pay all the bills on only passive income. From that standpoint, I am financially free, yet I still work a W2 job. When I stared out, I had planned to be "retired" by now. What changed was my perspective. Fulfillment doesn't come from sitting around doing nothing or spending your days golfing (although it is pretty fun). Challenges are fun and work is engaging. Time with family and friends, memories of experiences, helping others and building a lasting legacy are what I am looking for.

Ola Dantis · Answer

@Matt Engle Isn't that a fascinating question?!!!! That is like a stage of existentialism.

Honestly, I don't think anything would change in terms of working, as I don't see myself ever retiring or sitting on a beach somewhere sipping on pina colada! 🍹🍹🍹

For me, I really love the idea of legacy [living past my grave (I know, morbid)]. I mean when I watch men like Jim Rohn or Zig Ziglar on YouTube, I can help but think these are amazing men who have truly left a mark on this planet (FULL STOP).

So leaving a mark on this earth, I guess, would be naturally the full focus after financial freedom.

Dennis M. · Answer

I have not reached that point but when I do I would still do real estate in some way because I love everything about it and the potential to make money involved in the process . That being said I would use the extra time to help out at my church especially with the youth programs doing activities and mentoring them so they don’t make the same bad decisions I did in my rebellious years .

i would like to donate more to needy families who are actually trying in life -not just my money ,but my time which I cannot do because I’m still working a w2 job currently . I would like to just have the freedom to get up early and go for a mountain bike ride around the lake while the sun is rising or grab my gear and go bowhunt white tails whenever I felt like it .id be happy just to read a book and have a cup of coffee on my deck each morning

Nick Rutkowski · Answer

@Matt Engle

Probably go support my girlfriend’s dream and make it a reality. She sacrificed her goals to help me attain mine, it seems like the right thing to do. It’s a pretty cool dream too, we want to open a exotic animal sanctuary. I think the transition will be easy, bad tenants are like wild animals anyways!

Mike S. · Answer

@Shawn Coverdell this is powerful.  Thanks for sharing.

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