Hey, How are you?
This week is the last week of school for my kids. I am not believing that when Sarah graduates from 8th grade this week, I will have two kids in high school and Jay will turn 16 in August. Whoa? Where has the time gone? I was reminded this week of a video series I did on Facebook back when it was just your real friends on Facebook, 10 years ago when I was clearing out my "coffee cup cabinet." I had kept all these coffee cups because they had some significance when I received them only to find I never used them and they took up an entire shelf in our kitchen cabinet. I wanted to document them as I got rid of them for my sake and hopefully make some of my friends smile. It was 10 years ago!
Hard to believe the time has passed and all the changes that have taken place in my life. Time is such an interesting concept. You can't change it. It's always progressing at the same pace, we have the same amount of it as anyone else. It's what we choose to do with that time that becomes important.
Kristin and I were in our mastermind group this past week with David Scott and a few other brokers from around the state and were reminded of all the internal traits that are necessary to make it in any entrepreneurial venture or in a bigger sense, life itself. You have to be motivated - you have to have a vision, you know what you want. You have to be learning-based. Always going deeper, continuing to add tools to your tool box. You have to be committed - all in. The word committed has come up frequently in conversations lately and a lot of people seem to have different interpretations. I could talk on this all day. For today think of it as taking action and doing what you don't want to do when you don't want to do it. Or having a purpose/vision of what you are working for that nothing will stop you. With that said, you must have a willingness to endure.Knowing that real estate has ups and downs as does life, you have to be committed enough to see it through. You must be accountable. The only real way to improve is to report your progress and see what areas need improvement. It just so happens accountability groups are open, if you would like to participate all you have to do is get with Kristin.
Lastly, you have to be patient. This is the one I think most of us have the most trouble with, me included. Patience is the key to virtue. If we can endure, hang on, and see it through the rewards will be tremendous.
Looking back over the last 10 years it certainly doesn't seem like that much time has past, but I know in the moment it seemed like I was trying to move in quicksand. Marathon running trained me to not focus on the distant goal but just one day at a time. I put numbers on the calendar and only focused on what I had to do the next day. Next thing I knew, I had completed 9 marathons and I haven't run in over 2 years now. Just blows me away.
Same thing with your wealth, I just finished The Automatic Millionaire and The Latte Factor. Both talk about paying yourself first. Particularly if you are not of the mindset of Dave Ramsey (although the two approaches are similar in the end) of putting cash into envelopes, this is an alternative. It focuses on small amounts of money invested over time can compound into tremendous amounts of money. It takes all the internal traits above to get it done, but you can get it done. We have heard some compliments from you all about the savings program Melissa put into Backagent to facilitate you saving and not having access to it. When the time is right, let's talk about where to invest it and start your own journey. My definition of wealth is when you don't have to work for your money, your money works for you. As we move through this busy time, make sure you are paying yourself first and putting your money to work for you.
-See you in class!