Road To Retirement.
Hi there,
I love to the internet. Because of it, I am on track to retire at a very young age.
My goal is modest, yet huge in the eyes of many people.
Here’s my goal in a nutshell:
Have enough real estate cash-flow that produces at least $5,000 per month.
As of now, with my newest acquisition (seen in video above)… once they’re rented out… I should be generating about $30,000 per year in NET profits. Which is pretty cool… BECAUSE… I CAN LIVE OFF THAT INCOME.
I have been careful with how I spend my money… I’ve decided it is more important to secure the future of my family, than to purchase big fancy homes and cars that will only suck my bank account dry, instead of making it fatter.
So yeah… i have developed a habit to purchase assets, instead of liabilities. (read rich dad, poor dad book for more on this)
I have also not upgraded my lifestyle very much. I have a better car, better homestead, and I never worry about bills, I eat out A LOT, my daughter has everything she wants and needs and so does my wife.
But there’s something I havent done, which has made all the difference in the world…
Which is…
I have chosen NOT to put a ‘rope around my neck’, sorta speak.
See, most of the time, when a person starts earning good money…
They go buy a HUGE home (liability) and huge car/s (liability) and therefore, they just added a huge monthly bill to their month… a monthly bill which will last for about 30 years!
So even though your income went up, you just increased your bills too..
Sure, you live in the great big home, you drive the fanciest car and your whole neighborhood is jealous… BUT…
You’re still living pay check to paycheck.
I know this guy making $8K a month, who struggles every month to survive; simply because their monthly bills exceed their income. They did it to themselves. Unknowingly probably… but still, I am sure this happens a lot!
Just a few day ago, I was watching the Dr. Phil show…
It was about this guy who got himself a 6-figure per year job working in the IT industry… him and his wife urgently bought a 4.5 MILLION dollar home.
Yes… a 4.5 MIL house, for just 2 people.
They also got a couple of luxury cars.
Then, a few years later…
He lost his job. And they lost everything.
They’re now living in a motel.
Had he chosen to delay his gratification for a while… Maybe buy a nice “normal” size home, buy a nice but not insanely expensive car; and also buy a couple of rental properties (to create positive cashflow)
Maybe… things woulda been different. Maybe.
Anyhow, everyone has their own plan of action. Mine is simple. Invest in real estate now, and then buy all the fancy toys, but only once money is WORKING for ME like crazy… instead of when I am still the one working for money.
Sadly, no one ever talks about this stuff in school. They just program us to: go to college, so you can get a good job, so you can buy a big nice liability (i mean, house), and your dream car, of course.
And most people follow this advice.
Now, there’s nothing wrong with such advice, and if you dont mind the thought of having to work the rest of your life, just to pay bills… then this plan may be right for you.
Personally, I love the idea of making money work for me. And although there’s various investment options… I chose Real Estate simply because it is simple to understand.
You just look for deals that look like “good deals” -- and buy them.
That’s it. I dont do any “rocket science” stuff. Yes, ive learned a few cool things along the way… but the fact is ANYONE can get into real estate and do well early.
HOWEVER… you NEED money.
That’s where the Internet comes in…
That’s where you create the income thats gonna fund your empire!
WARNING: It is 9AM and I haven’t slept AT ALL. So forgive the rant, and all the grammatical errors. lol
And yah… LEAVE A COMMENT PLEASE.
Gabriel,
BROH – I am with you 100%. And nice reference to Rich Dad, Poor Dad. I read that book a few years back and he is SO RIGHT.
Glad to hear you are moving closer to your goals and you’re an inspiration to those reading this who are ready to hear the truth.
Keep it movin my man
Jason Dinner
Love, love, love the video! Very inspiring. I love the fact that you’re focusing more on building assets than trying to impress folks with fancy liabilities. I feel the same way.
Congratulations! You’re off to an excellent start AND you have beautiful wife and daughter. You’re making them and their future your priority, and I believe you’re making the right and wise choices. Keep it up!
Yes, you are absolutely right. Alot of people when they make money they spend it foolishly and later become broke because of it. In this day and time you have to spend your money cautiously and invest wisely so you can keep that money for a long time. Anyone can make money but good investments is what allow you to keep it.
Grabriel,
Truly inspiring and very smart on your part. Allot of Marketers and financial freedom seekers could learn a ton from your lesson here today.
What is most impressive to me is that you have a plan and you are working it…a plan custom tailored to YOUR goals and desires and not what someone sold you on…and you’ve stuck to it! ( I remember us talking on the phone a few years back & you shared your plan with me and here you are)
It’s not a plan that gets you to the promised land in 7 days or less. You are running a marathon with your goals, not trying to do a 100 yard dash.
Good for you and your readers! Anyone would be wise to follow your lead
Ruddy Ortiz
Great tips Gabriel! I agree with you 100%!
Thanks,
Rogerio Job
Congratulations and Best Wishes!
You are an inspiration and a model for the rest of us
who are still struggling. I really appreciate the video.
You have inspired me to work harder and become more focused.
Good Luck!
Carl Willoughby
http://www.One-Minute-Cure.com
Gabriel:
I really appreciate that you feel this way. Life is a journey and one that you want to be successful. I believe that prioritizing your family and working towards your goals will allow you to appreciate so much more that Expensive car or house when it is time.
To your success!
Sherrie
Hi Guys and Gals,
Thank you so much for taking the time to read the post and for your replies. I value everyone’s input, and it’s so awesome to have a group of online friends, whom we can share our goals, dreams and mindset, thru a ’simple’ online blog.
I’m glad to see this has been inspiring to some, which means I will definitely keep this blog updated as any more developments occur. Even the set backs, I will document those too, as the steps I take to resolve any issues, should be quite valuable to some watchers.
Thanks again.
God Bless!
-Gabriel Aguinaga
I really enjoy all the information I do appreciate you!!
I’ve never read rich dad, poor dad, but I think I have to.
You have a very good point about assets, instead of liabilities. I am earning a few extra dollars every single month, and I’m not spending them on anything other than assets. Hoping to do the same as you, but not in real estate though
Jens
Gabriel,
Good on you for being a living example of \doing it right\ by building residual income and acquiring assets, not liabilities!!
You’re a great model for others (including myself) who desire to build wealth online and in other ways as well. The \using-online-business-income-to-fund-real-estate-investments\ model is a great model.
I also like your method of not living beyond your means, unlike so many other people who fall into that trap. You have a decent car, comfortable home and lifestyle, etc., but you can afford it easily! Lenders, finance companies etc. love convincing people that they can afford to spend way more than they have/should, but they downplay the lack of a safety net (witness the 4.5 million dollar house example!!).
Build up consistent streams of business income and a strong asset base first (real estate is great), then upgrade the car, home, etc. to the \luxury\ level. Don’t depend on income from one or two J.O.B.s to cover all the monthly payments.
You’re on track to achieve your dreams and more, my friend! All the best to you and your family, and thanks for the inspirational messages.
And to anyone who hasn’t read Rich Dad Poor Dad, please do so! It’s an excellent book.