There’s nothing wrong with making money slowly, because when you’re making money slowly, you may not always appreciate it, but never forget, you are making money.
When Your Survival Guy purchased a multi-family in my early-20s I was working at Fidelity Investments. I remember it like it was yesterday, talking with my dad, asking him how he managed to run all his income properties. I remember being worried about rents coming in late and not being able to meet my mortgage payments.
“Just get through the first month, and you’ll figure it out,” he said. And I did.
Which brings me to you and how you did it, too. How you saved ‘til it hurt, and now you have more money than you ever dreamed you would have. You are probably making more money from your investment alone than you ever have. That’s what compounding money over a long period of time does.
Your Survival Guy never tried to predict what would happen to real estate prices. But I did think about rental income. I did experience investing in real estate at a time when the numbers worked. But I would give the same advice to anyone starting out to try to figure out a way to get in the game.
Because when you start early, you can look back and realize an asset was cheap even though back then it felt like it cost a fortune.
It takes patience to realize.
Action Line: It’s never too late to put your money to work. When you’re ready to get your lazy cash off the couch, let’s talk. Email me at ejsmith@yoursurvivalguy.com.
Read the entire series here.
Originally posted on Your Survival Guy.