Sixty Three Thousand Dollars, Twenty Acres, Six Hundred Thirty Thousand Dollars discussed on Radical Personal Finance

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Was a huge difference between planning to buy a minimum of twenty acres and build a dream home versus buying rental properties. The purchase of twenty acres and a dream home. You can spend your money on that. But it will suck up everything you've got, and it will probably mean that you won't be very wealthy. Now, if you're going to pursue rental property, then the twenty acres, and the dream home is nothing, but an impediment for you, given your plans of building a real estate portfolio. If you are if your needs are met in your current house. I would encourage you not to pursue the dream home at this stage of life. You're only twenty four years old. You have one new baby. This is not the time to go out and start spending money on a dream home. You're not yet rich, you're richer than most people. But you're not yet rich. You're not yet financially independent. And to the first thing you have to do is get rich, then go and buy a dream home. Now, what's your plan to get? Rich depends on how serious you are with your investment activities and depends on what your opportunities are for your career. You're currently making sixty three thousand dollars a year your wife is working making thirty to thirty five. So you've got a good healthy income. So with that the question is do you have the biggest opportunities in your career or do you have the biggest opportunities in your investments? The me foil two different examples, you might be making sixty three thousand dollars a year driving trucks dinking deliveries in your local area. You don't say what you do for work. That's fine. It's a adequate income perfectly fine. But there's no opportunity for advancement. And there's no possibility that your career is going to take off earning sixty three thousand dollars a year doesn't mean at driving trucks. There's no chance that ten years from now you're going to be driving trucks and making six hundred thirty thousand dollars a year. Now.

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