"True wealth gets built when your time gets uncoupled with money."
― Monick Halm.
Time is finite. We only have so much time in our day, our week, our month, and truly, our lives. When it comes to making money, some people have jobs that trade their time for money. This can be really lucrative, especially if you’re a CEO and you get paid a lot of money per hour worked. But I believe that when you’re truly wealthy, your time is completely your own. True wealth means not trading your time for money, it means making money while you do whatever you’d like to do with your time.
Real estate investing gives you the gift of time. It allows you to have enough passive income streams so that you work because you WANT to, not because you HAVE to. That is true wealth, and THAT is the kind of financial freedom I want for each and every one of you.
Depending on your priorities, wealth can mean something different to each of us. However, when it comes to finances, wealth, for me, has only one definition, and it's not necessarily about having tons of money, but about having financial security and comfort.
In 2008 I was let go from my fancy lawyer job, I had a newborn AND the economy tanked. My husband, who was now the sole breadwinner, experienced hardship as his graphic design business income decreased by 90%.
I remember feeling so afraid and uneasy during that time of my life. We'd just had a new baby, I didn't have a job, and the economy was in shambles. Luckily, the two rental properties we had invested in a few years back were still providing us financial income, and during that year of hardship, they were truly what kept our roof over our head.
This made me realize the importance of finding real wealth- that doesn’t mean being so rich that you are unaffected by what’s going on in the world. It means...
I received such terrible news yesterday - a friend passed away from cancer just 5 months after giving birth to her son. In fact, she was diagnosed with a stage 4 cancer the day after she gave birth. It's devastating.
Between the time of her diagnosis and her passing, she shared a lot on Facebook about what she was going through and what she was feeling. One of her worries was the legacy she would leave for her son.
Are you thinking about what kind of legacy you want to leave future generations? The sooner you start building your legacy the better.
Have you considered the question, how long you want your legacy to endure?
One generation? Two generations? In perpetuity?
As we age, our legacy becomes more significant to many of us. If your goal is to leave a legacy which will last generations, consider building two types:
1) Financial Legacy
2) Knowledge Legacy
One without the other will handicap the chances of your legacy lasting...