WHAT IS YOUR WHY? The Most Important Question To Ask Yourself When Beginning Your Investment Journey (in real estate) #Part 1.
WHAT IS YOUR WHY?
This is THE most important question to ask yourself. If you don't have any or enough reasons then you will simply give up when the going gets tough.
We all have our own reasons for investing in property.
Some want to retire at 40, some want to build a pension plan, some want to give up their day job and solely rely on property income, others can no longer afford to live in their own home and have no other option but to rent the property out, and others just want to boost their monthly income BUT keep their day job. My advice is to keep your day job and have a part time business on the side. In my opinion, having a business is a luxury.
Make sure you have enough money to put a roof over your head and food on your table, then can you work on your fortunate. Once you have mastered your side business then you can give up your day job. Don’t test the water with both feet and jump in with feet first.
My reasons for investing in property and other asset classes are:
- To become financially independent and not solely rely on my “day job” for income
- To become “financially free”
- To earn £6,000 pre tax profit
- If/when I chose to have children, my partner and I won't have to worry whether we have enough money.
- To be able to go travelling as and when I want and HOW I want. Staying in amazing places and experiencing life changing things
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