If you to build a passive income and create financial freedom, there's a specific way to go about reaching that goal. It's not all about the money; wealth building is also about changing your thoughts and behaviors. In this post, I'm sharing six specific steps you can take in order to reach your goals
- If you're serious about building wealth this year, the first thing you need to do is get clear about your "why." Really consider why you have this goal in mind. Do you want to spend more time with your family? Are you trying to build legacy wealth? Is it your intention to eventually leave your day job? Whatever that motive is for you, grasp a strong understanding of why you want to build wealth.
- Focus on your "one thing." What is the path that will lead you to your goal? For me, it's been single-family rental real estate properties. Had I been easily distracted by other avenues and opportunities, I would have lost sight of my "one thing" and made virtually no progress at all. Don't get derailed.
- Write your goal down somewhere you will see it. Whether that's on your fridge, in a planner, or on a whiteboard, keep that goal in a place you will constantly be reminded of it. Writing down your goal solidifies it in your mind.
- Remember the importance of the mantra, "progress not perfection." If you are concerned with perfection, you'll never be satisfied. Don't try to have all of the answers before you get started, you'll learn as you go, and that's okay.
- Consider the importance of practicing gratitude for your small steps and achievements. Reward yourself for taking actionable steps in the right direction.
- Stop being a wimp. Stop feeling sorry for yourself. This attitude will get you nowhere. Understand that you will make mistakes, sometimes it will be difficult, but if you stick to your goal, you'll achieve it.
If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.