About 6 years ago I made the decision to move outside of the United States. I researched and visited a lot of different countries before I picked my tropical mountain paradise. Many friends were curious and wanted to explore Panama too. So, I hired a bus and driver to take us from one end of Panama to the other. That one little tour turned in to another then another and another as more and more people want to leave the United States.
I did not plan to start a tour company, it just sort of happened. Now, in addition to my real estate investments and two internet companies, I have a tour company in Panama and Ecuador.
The tours give me a unique opportunity to spend a week with people from a lot of different backgrounds. For twenty years, prior to the tours, my whole life revolved around real estate investing and meeting with fellow investors or internet marketing.
Now, I get the opportunity to spend a week with people from a variety of occupations including engineers, doctors, IRS agents, internet marketers, pilots, book/magazine authors, artists, surgeons, movie directors, bankers, teachers, flight attendants, lawyers, the list goes on and on and does include real estate investors too.
There's a common denominator with all those who go on my tours, (1) they are worried about the direction that big government is headed in, and/or (2) they are concerned that their savings.. or lack thereof.. will last as long as they do. People from all political persuasions go on my tours so it's not a Democratic or Republican or Libertarian thing. People from many different countries go on my tours... and they all have the same concerns, so it's not unique to the United States or Canada.
It's truly a unique opportunity to spend a week with people from so many different backgrounds who have been brought together with a common objective. We have some very interesting discussions, usually with a bottle of wine or an umbrella drink, and try to keep politics out of it to avoid fights.
But it is also shocking to learn that many of them have worked all their lives and never prepared for retirement. Not even the doctors and others with high incomes. Some have a small pension, most do not.
It's scary to learn that many are hoping that Social Security alone will support them for the rest of their lives. $2000 a month will go a lot further in Panama than it will in the United States or Canada but you have to wonder if it will be enough to live on 5, 10, 15 years from now. Since Social Security is broke, what will they do when the checks are cut in half or stop coming all together? Europeans are especially worried about this.
The morale of this story ...
...is to tell you that you need think ahead. No matter how young or old you are now, you need to think about the day when you don't want to, or can't, work anymore.
With just a couple rental properties, you could double your cash flow when you retire. Or the rentals may be the only cash flow you have!
The cash flow from a few rental properties could give you financial security and a quality lifestyle so you can live where you want, do what you want, travel when you want, and eat out at restaurants when you want... versus a lifestyle where you are struggling to survive.
You do not have to be a full time real estate investor.
But you should take the time to learn how to find/buy the right houses, without bank financing, and how to get them paid off as fast as possible.
The cash from just a 1 to 2 option deals per year could build a nice nest egg for your retirement. Let’s say you average just $10,000 profit from each option deal and do 2 per year. If you do that for 5 years, and save the money, you’ll have $100,000. The sooner you start, the more money you’ll have.
OR...
Start an internet company. I started my first internet company in 1999 and it still pays me money every month.
Don't wait. And don't give up. Work harder to make success happen faster.
Don't depend on a job or the government to take care of you.
The quality of your future lifestyle will depend on what you do (or don't do) today.
If you spend every penny you make on lifestyle today, there won't be anything left over for later.
I did not plan to start a tour company, it just sort of happened. Now, in addition to my real estate investments and two internet companies, I have a tour company in Panama and Ecuador.
The tours give me a unique opportunity to spend a week with people from a lot of different backgrounds. For twenty years, prior to the tours, my whole life revolved around real estate investing and meeting with fellow investors or internet marketing.
Now, I get the opportunity to spend a week with people from a variety of occupations including engineers, doctors, IRS agents, internet marketers, pilots, book/magazine authors, artists, surgeons, movie directors, bankers, teachers, flight attendants, lawyers, the list goes on and on and does include real estate investors too.
There's a common denominator with all those who go on my tours, (1) they are worried about the direction that big government is headed in, and/or (2) they are concerned that their savings.. or lack thereof.. will last as long as they do. People from all political persuasions go on my tours so it's not a Democratic or Republican or Libertarian thing. People from many different countries go on my tours... and they all have the same concerns, so it's not unique to the United States or Canada.
It's truly a unique opportunity to spend a week with people from so many different backgrounds who have been brought together with a common objective. We have some very interesting discussions, usually with a bottle of wine or an umbrella drink, and try to keep politics out of it to avoid fights.
But it is also shocking to learn that many of them have worked all their lives and never prepared for retirement. Not even the doctors and others with high incomes. Some have a small pension, most do not.
It's scary to learn that many are hoping that Social Security alone will support them for the rest of their lives. $2000 a month will go a lot further in Panama than it will in the United States or Canada but you have to wonder if it will be enough to live on 5, 10, 15 years from now. Since Social Security is broke, what will they do when the checks are cut in half or stop coming all together? Europeans are especially worried about this.
The morale of this story ...
...is to tell you that you need think ahead. No matter how young or old you are now, you need to think about the day when you don't want to, or can't, work anymore.
With just a couple rental properties, you could double your cash flow when you retire. Or the rentals may be the only cash flow you have!
The cash flow from a few rental properties could give you financial security and a quality lifestyle so you can live where you want, do what you want, travel when you want, and eat out at restaurants when you want... versus a lifestyle where you are struggling to survive.
You do not have to be a full time real estate investor.
But you should take the time to learn how to find/buy the right houses, without bank financing, and how to get them paid off as fast as possible.
The cash from just a 1 to 2 option deals per year could build a nice nest egg for your retirement. Let’s say you average just $10,000 profit from each option deal and do 2 per year. If you do that for 5 years, and save the money, you’ll have $100,000. The sooner you start, the more money you’ll have.
OR...
Start an internet company. I started my first internet company in 1999 and it still pays me money every month.
Don't wait. And don't give up. Work harder to make success happen faster.
Don't depend on a job or the government to take care of you.
The quality of your future lifestyle will depend on what you do (or don't do) today.
If you spend every penny you make on lifestyle today, there won't be anything left over for later.
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