keskiviikko 3. kesäkuuta 2020

Workout your magic number

There are many social media channels that guide you to be a millionaire. But do you really need that? I challenge you to think how much income/month would be sufficient. I think at the moment I could be happy with 2000/month (net). AND if the number change and one needs more, one should be able to switch gears and do something about it. Have a plan, for pretty much everything.

Of course it would be nice to be a millionaire but it might be too hard road to follow. There are many blogs and posts about getting from 0 to 100 or even thousands and how easy or frugal it is. ”I have done it so everyone can...” LOL.

As a landlord I think my first goal is to get to the magical number of five. It is not easy but it is achievable. ”Aim higher” my ass. First aim lower and then you can see if it is for you. Landlording for example is not for everybody. After 3 or 4 or 5 apartments and a little bit of a passive income one can see how it is. 

”Think big” could just make you running wild and you lose your focus and motivation...  You might even hit the wall. The goal might be too far away. If you start losing weight you don’t go to the gym and put all in and crush yourself and your bones. If you start investing you don’t put everything in one basket. You need to able to see the big picture, but you also need to enjoy the ride. 

As a landlord going from 0 to 100 rental properties or apartments is rough. You might want to test yourself first by setting the goal to 4 or 5. If everything goes well and you are having fun, well hell, then you aim for 10 or 15 apartments and so on. There will be a point when enough is enough.

I currently own 4 rental apartments/properties and I am renting out one car spot. Have I enjoyed the ride? Yes and no. Have I thought what is enough? Yes, many times. Still I have not worked out my magic number...

BUT I would not change a thing.

Kettu kuittaa.

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