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Updated over 7 years ago on . Most recent reply
How did you get spouse on board with investing ideas
Hi everyone, currently taking action steps on purchasing first rental property. Have ran into a road block, my wife isn't really confident in taking the plunge with me. I've told her we would do our homework before jumping into property and that she's right with thinking we'll run into some kind of obstacle down the road. How were you able to convince or at least get spouse in on the adventure, that could possibly lead us to a very rewarding life?
Most Popular Reply
Hi Frank,
I was lucky because back in 2009 I invested with my brother and sister and at that time I havent met my wife yet so I didnt have to convince anyone. Anyway, pass forward to 2011, I met my wife and disclose to her about my investments. At the time she wasn't very into it and kept asking me why I did what I did. It took me a very long time constantly bringing up the pro of real estate investing before the acknowledge that those investments was good. Anyway, now that I am thinking about going out on my own and invest without the family, she then start feeling uneasy because we just bought our first house together at the end of last year. I guest the best way to do it is keep feeding your spouse the good of investing. Keep making small talk so that she know you are passionate about this it is not something that you will lose interest quickly. I heard so many good review about the book "Rich Dad Poor Dad" recently. We have a baby coming within the next few months and my wife wanted to me read to the baby (I guess this is a woman thing). Anyway, my plan for the next few weeks is to read that book to "the baby". This way I can indirectly teaching my wife the fascinating side of investing. Just so you know, way back when I first met my wife I had to show her that we do not need to buying everything in cash. Sometime buying on credit or taking out a loan is good. As long as you are responsible with your spending. Hopefully I can get my first (separate) investment property by the end of this year.
Good Luck,
KH