Saturday, 23 June 2012

My plan B

Now that you know where you are and where you want to go, you need to decide on what vehicle you will use to get there.  Start building your assets, Build and Keep Your Asset Base Strong

What type of assets should you acquire?
  • Businesses that will not require my presence eventually.  I own them, but hey are managed or run by other people.
  • Stocks
  • Bonds
  • Mutual funds
  • Income generating real estate
  • Notes (IOUs)
  • Royalties from intellectual property such as patents, books, etc.
  • And anything else that has value, produces income or appreciates and has a ready market.

Talking for me, I have tried several
  • Stocks
  • Bonds
  • Mutual funds
  • Income generating real estates
  • Gold and silver

But my favourites are real estate and gold and silver.  Please do not consider your house as an asset.  Why? would you say, if you don’t know the answer to that question yet, I need you to go and grab a copy of Robert Kiyosaki’s book Rick Dad Poor Dad.  I have found a system to make real estate work for me, I did not get it right the first time, but I was willing to learn, and now I have way more good days than bad in real estate.

Gold and silver on the other hand well there is not much to say about it really, if you have a saving account, and you have your money sitting at the bank and doing nothing for you, well maybe you should start thinking about investing in gold and silver.  If you want to know more about that please sent me a note and we can get into more details.

Now you need to find your plan B, what can you do to bring extra money in your household and contribute toward your retirement? What can you do to stop living pay check by pay check and live the life that you are meant to live?

Remember, you have to go after your dreams; nobody will bring them on a silver platter to you….

Until next time….

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