I think I finally woke up! I listened to Curtis DeYoung, President of American Pension Services and realized my belief about retirement was way off base.
Let me recap what I learned. The American Dream isn't really about owning your own home, it's about learning how to live free from outside sources. My life up to this point consisted of living off government rules and regulations. I was a W2 employee, I gave permission to take money out of my paycheck to build my 401K excited the company would match my contribution. In reality, I was giving others control of my time and money all because I didn't know any different.
It's my money, it's time I took it back!!! Now how do I do that? I understand now, I work not only to put food on the table and pay my expenses but to "buy" retirement income. I'm the only one that really cares about me, I'm the only one really going to take my retirement seriously.
I buy real estate to leverage my retirement income. How cool is that??? I can work less and earn more ... building my retirement exponentially, tax FREE!!!
You Success Partner
Jody
Wednesday, March 23, 2011
Tuesday, March 1, 2011
Real Stories...
My story....so much to say so little time....
So I taught junior high school for 7 years straight out of college and then I had the honor and privilege to stayed home to have 2 babies three years apart for another total of 6 years and we were paying taxes like crazy. We were financially illiterate. Two college graduates both from Pepperdine University and Bob, my husband, went onto Tulane Medical School. Our education system is great in many aspects, but not when it comes to financial literacy. We had read some books on our own: Rich Dad, Poor Dad, How to own rentals one at a time and retire rich. Automatic Millionaire.....etc. but still no action. I met Richard through another contact and decided to hear him out. I sat on it for 8 months! Thankfully Richard is persistent and that was a blessing in disguise for us, but I didn't know it at the time. We ran through all the same questions....trust me, they are the same. You are not the only ones who are skeptical and rightly so. One must seek and find the answers. Ask many questions until your satisfied, research and not just on google...because that was one of the reasons why I delayed the joining of NR. It wasn't until I had done nothing for 8 months. I thought I would be able to do it but there was a part of me that was still quite scared and rightly so, without any education and support things can go wrong very fast.
Long story short....I joined and told no one for a whole year. The comprehensive education that I got was like no other and has served us very well. I went to every college and took as many classes as I could. I have in the span of 2 years did over 11 real estate transactions. My first two weren't that great but I knew going in to have some realistic expectations. So, I bought dinky small properties in MI and IN...remember there is a learning curve, and I learned a ton! I did go and buy 2 Go Zone properties in MS that both cash flow and got the 50% depreciation upfront because I qualify as a real estate professional. We use to pay 80k in taxes annually. For 2009 we paid 56k and for 2010 we probably will not pay anything at all because of my go zones. Starting in 2010 I started to fix and flip in CA and I actually found I have a real knack for it and since then I have done 6 flips; my first 3 all went into contract within a week of being on the market. I'm currently in 3 right now, one in CA and 2 in AZ. 2 were placed on the market about 2 weeks ago and on one property I have had 2 offers on it in the last 3 days. I could only have done this by going to college, studying and talking to a lot of people in the community, and then getting out there and applying my knowledge. I've worked very hard to get where I am today and I am continuing to self-develop my financial IQ and personal development. Oh...and not only did I learn how to make money in real estate from [Renatus], probably even more important, I learned how to protect it and keep it too!
I'm 36 years old and now my kids will learn about these things. My 8 year old daughter, one of my joint venture partners in all of my deals, receives on average a 16% return every three months. The only kid in her class who invests and actually gets the concept that over time money does compound because she put trust into the right set of hands (oh if we all could be so lucky).
I have to say it has been a huge journey full of adventures and rightly so! I went in with the mindset that learning something new will have it's proper challenges and that I wasn't going to get rich over night. Wealth building is a process, it's a mindset that I didn't know I was suppose to cultivate. So, today because I took action, and it will be what you make of it, my financial IQ is so much higher and every problem that I get to solve and overcome will just in return give me a higher financial IQ to get me to our goals of wealth building and creating a legacy.
If any of you have any questions feel free to give me a call and I would be more than happy to speak with you on a personal level.
Ms Stone
So I taught junior high school for 7 years straight out of college and then I had the honor and privilege to stayed home to have 2 babies three years apart for another total of 6 years and we were paying taxes like crazy. We were financially illiterate. Two college graduates both from Pepperdine University and Bob, my husband, went onto Tulane Medical School. Our education system is great in many aspects, but not when it comes to financial literacy. We had read some books on our own: Rich Dad, Poor Dad, How to own rentals one at a time and retire rich. Automatic Millionaire.....etc. but still no action. I met Richard through another contact and decided to hear him out. I sat on it for 8 months! Thankfully Richard is persistent and that was a blessing in disguise for us, but I didn't know it at the time. We ran through all the same questions....trust me, they are the same. You are not the only ones who are skeptical and rightly so. One must seek and find the answers. Ask many questions until your satisfied, research and not just on google...because that was one of the reasons why I delayed the joining of NR. It wasn't until I had done nothing for 8 months. I thought I would be able to do it but there was a part of me that was still quite scared and rightly so, without any education and support things can go wrong very fast.
Long story short....I joined and told no one for a whole year. The comprehensive education that I got was like no other and has served us very well. I went to every college and took as many classes as I could. I have in the span of 2 years did over 11 real estate transactions. My first two weren't that great but I knew going in to have some realistic expectations. So, I bought dinky small properties in MI and IN...remember there is a learning curve, and I learned a ton! I did go and buy 2 Go Zone properties in MS that both cash flow and got the 50% depreciation upfront because I qualify as a real estate professional. We use to pay 80k in taxes annually. For 2009 we paid 56k and for 2010 we probably will not pay anything at all because of my go zones. Starting in 2010 I started to fix and flip in CA and I actually found I have a real knack for it and since then I have done 6 flips; my first 3 all went into contract within a week of being on the market. I'm currently in 3 right now, one in CA and 2 in AZ. 2 were placed on the market about 2 weeks ago and on one property I have had 2 offers on it in the last 3 days. I could only have done this by going to college, studying and talking to a lot of people in the community, and then getting out there and applying my knowledge. I've worked very hard to get where I am today and I am continuing to self-develop my financial IQ and personal development. Oh...and not only did I learn how to make money in real estate from [Renatus], probably even more important, I learned how to protect it and keep it too!
I'm 36 years old and now my kids will learn about these things. My 8 year old daughter, one of my joint venture partners in all of my deals, receives on average a 16% return every three months. The only kid in her class who invests and actually gets the concept that over time money does compound because she put trust into the right set of hands (oh if we all could be so lucky).
I have to say it has been a huge journey full of adventures and rightly so! I went in with the mindset that learning something new will have it's proper challenges and that I wasn't going to get rich over night. Wealth building is a process, it's a mindset that I didn't know I was suppose to cultivate. So, today because I took action, and it will be what you make of it, my financial IQ is so much higher and every problem that I get to solve and overcome will just in return give me a higher financial IQ to get me to our goals of wealth building and creating a legacy.
If any of you have any questions feel free to give me a call and I would be more than happy to speak with you on a personal level.
Ms Stone
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