Do you really need to get out of the Rat Race to be successful?

[Vijaianand Thirunageswaram]

I am sure most of us read the "Rich Dad Poor Dad" at least one time before starting our REI journey. I eve know few who read it more than 3 times. It may be the bible to make you think differently about your job and provoking someone to start Real Estate investing. That's all well and good.

But these days while I am talking to new investors who keep repeating the same thing, " I am want to get out of my job".  I feel the book is out dated long time ago when someone can do their regular job sitting at Starbucks and even multitask juggling between work and investments. 

What I am trying to get at is, "One really don't have to get out of their day job to make your investment to work".  

I know some might not agree but that where my debate about, "Is RE business or Investment?"

If you are thinking about doing it has business, then surely you need to lose your day job and concentrate fully on the real estate path. But if you really want to build your passive income for retirement or kids education, that's not business. Business means you need to work on it to make money whereas Investment is other way. You need to make the money work for you. Many who preach or coach about real estate are full timers and it might make sense for them. But someone who is making $100k a year, do you really think it's good idea to leave their job for the purpose of RE Investment. Even if you plan to do few flips a year, will it make sense to lose it? Think about it!!

If you ask me, I wouldn't do it. Why would you lose a big chuck of money which you can easily make with skill set acquired going to good school.  I know someone will say, you gotta to take risk and chances to get big. Come on guys, I have tried it myself to be business owner by owning a famous healthy bakery but couldn't able to make it work. During this time 3-4 years,  I never lost my job and it actually helped me to get out again and start fresh in my different path. There is no harm in trying out but you should never lose your job if brings your good income and build Social security and healthcare benefits for you.

At this internet age, you can work from home and do multitasking, you shouldn't be losing your job for new venture. Keep your job and build your net worth for the future. I know some might have to work 12 hours a day or 40 hours a week, but still you can make it happen by doing few hours of extra work every day on your Real Estate investing. 

If you call me contrarian, I would say, I am just trying to think differently at this time of age and don't get stuck in the old concept  :-)

[Steve Vaughan]

Certainly don't have to. Matter of fact, if we all did, nothing would get done out there!

I left as a choice. I don't like traffic and commuting. It took me so long to arrange coverage for when I took time off, it was only worth it far out and in large chunks. I wasn't able to run simple errands or putz around the house and yard during the week, leaving me with weekends catching up- only to start over again Mon.

Not everybody's rat race experience is like mine. I miss the friendships forged there and the benefits of being in the cubicle trenches of a corporation, but overall it wasn't rewarding enough to offset my above issues. 

Freedom to me is my most valued basic need. For others it's power (self-worth & achievement), fun or love and belonging. FI and doing your own thing is way too lonely for L&B folks.