Step 1: Wealth is not the same thing as freedom. Equity is fine and dandy, but unless it translates into cash flow - whatever...
Step 2: Cash flow is fine and dandy, but unless it's stable - whatever...(this is where a lot of new real estate investors get in trouble)
To me, financial freedom looks like this:
Step 2: Cash flow is fine and dandy, but unless it's stable - whatever...(this is where a lot of new real estate investors get in trouble)
To me, financial freedom looks like this:
- Diversified revenue streams non of which are of W2 variety
- Diversified among sectors and asset classes, not just assets
- Burn rate (all expenses including tax burden) no more than _____% of gross income
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.