Planning for The Future

My 41st birthday is this Saturday. I’m not telling you so that you can rush out and purchase me a present. (Though if you do I really like Wizards tickets.) I bring that up because New Year’s Eve and birthdays always remind me to stop and think about my future both personal goal wise and financial wise.

I own my own home. (And most of you do, as well.) And I am counting on that home to help fund my retirement plans either through home-equity loans or a reverse mortgage. So the plan is to have it, or whatever personal residence I may have at the time, completely paid off by the time I “hang it up”. I also own a duplex and have shares in other properties. These and the others I will acquire over the next ten years will also help to fund my retirement by going beyond the necessities of life. With these properties I am hopeful that I will be able to help my kids get a good start, that I will be able to leave to charity enough to make a difference, that I will finally get to take my Bride to the islands she has dreamed of.

It’s not always easy dealing with properties in the here-and-now. Sometimes with vacancies you can wonder if you have enough cash flow to pay the bills. Or would the money be better invested in a sporty new convertible? (Not likely.) I’ve chosen to live a comfortable life and to invest in my future. I also get to have a large payoff in the end and in the mean time provide good, safe, clean housing to people who want or need to rent.

What are you planning for your future? Of course, we all know how fragile life can be and that the future may end this afternoon. But just in case you might want to take some time, sit down, and do some math.

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