A lot of people spend their lives hard at work, dreaming of the day that retirement comes around. If you’re lucky, you can claim Social Security benefits at the age of 62, and you can tap into your 401k or IRA without penalty at 59 ½.
But what if you didn’t have to wait until you’re 60 years old to give up the daily grind and the dreary commute? What if you could travel when you wanted, without being tied to a work schedule? On this episode of Investing in Real Estate, we’re going to discuss the major flaws with our society’s retirement system and what you can do instead.
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Most standard retirement accounts produce lackluster results, and the Social Security benefits are only expected to decline in coming years. Just like any sort of systemic change, the way retirement is structured isn’t going to change overnight. Life is short – we don’t have time to waste. That’s why I think it’s important to start living the life you want now.
Here are some questions we should all be asking ourselves:
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Why am I waiting around for retirement?
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Are my retirement accounts projecting to allow me to live the life I want?
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How could I create passive streams of income that are more reliable than a retirement account?
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Am I living in alignment with my values?
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What’s stopping me from creating the life I want now?
This is something I personally feel qualified to speak on. If you’re not familiar with my story, let me give you a little background. I spent years working as a news anchor at a major network. It was a great, high-paying job, but over time I felt myself becoming jaded. I didn’t like that my family’s future was tied to a contract. Waking up at 3 am to ride into the city eventually lost its luster. And as my family grew, I really began to reevaluate my priorities.
So I diligently worked for a few years trying to uncover ways to create financial freedom. And here’s what I found: real estate investing is the number one way to build wealth. And no, it’s not an overnight success type of thing.. but if you really put your head down and get serious about building out your portfolio of rental properties, you can reach financial freedom in just a few years.
So this is my message to you today: start building the life you want now. Begin exploring ways that you can buy assets and build your net worth. The most effective way to do this, of course, is through the power real estate investing.
When you buy real estate, you’re collecting hard assets that you can leverage to grow your portfolio and continue expanding your net worth – and once you reach your Freedom Number, you can live off that income. You don’t have to wait until you retire.
If you haven’t already, it’s time to calculate your Freedom Number and start planning how you can get there. Get started by heading to my website, at morrisinvest.com, and grab your free download. The Freedom Cheat Sheet will give you the exact formula you need to begin replacing your income with performing assets.
We don’t have to live our lives beholden to entities like employers and the stock market. Trust yourself to create a plan, to follow through, and to live the life that you want now.
Episode Resources
Book a Call with Our Team
morrisinvest.com/Clayton
Download the Freedom Cheat Sheet
The Millionaire Real Estate Investor by Gary Keller
The Three Stages of Real Estate Investing
Download the free Financial Empowerment Bootcamp
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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