Tag: retirement tips
Retirement Transition… What you need to know to succeed!
user 0 Comments Retire Wealthy Tips for Retiree's
moving into retired life can bring you so much delight and satisfaction as well as enjoyable and some freedom therefore far more but you need to see to it that you make this shift as smooth as possible now you could be wondering what can possibly go incorrect becoming part of retirement right but we'' re right here to tell you we see people constantly battle moving from their job into this first area of this stage of their life called retiring we see numerous individuals people that fall short including your daddy he did he did actually died method before his time and also other individuals do also and we wear'' t desire that for us and we don'' t want it for you so today we ' re going to stroll you with steps to make certain you start on the right foot we put on'' t desire you to ask yourself if you did the appropriate aspect of retiring as well as start to let regrets resolve in a lot of people begin considering their retirement from the first day they begin a work and also you know we did the same point and afterwards as we entered we weren'' t as prepared as we thought we were as well as we actually battled initially we were lucky because we rotated as well as we learned from our mistakes as well as we discovered from our customers mistakes and for us you recognize we'' re four years into this it'' s an ever-evolving um change in our life however however in the really beginning it'' s really vital to obtain it right so we'' re going to share with you today some suggestion on exactly how to make the most effective way of this change so that you don'' t make the same mistakes that we did as well as others do you understand I can easily think about a half a dozen people who went into retirement as well as they in fact call us and state I don'' t comprehend I ' m I ' m actually miserable well my dad sadly he at 65 my sibling and also I purchased him out from business and also he retired narrative is he was dead in 15 years and you understand he had problem with he dealt with retirement he dealt with a loss of identity the loss of neighborhood he didn'' t recognize what to do with the 40 plus hrs that came his method and if you'' ve been following us a long period of time you'' ve heard this before but he'' s the ideas behind this service this is why we do what we do since we want individuals to grow in retired life just how'' s that for a word thrive is great I obtained that yesterday at a conference oh you did thrive nice we'' re everything about having individuals prosper in retirement and also in order to thrive in retirement you need to get the transition down that'' s right so let ' s spend a min on what can fail and also why first point that we listen to is boredom sets in as well as there'' s nothing even worse than awakening day in day out questioning exactly how you'' re going to fill the following 12 to 14 hrs as well as not have terrific suggestions that occurred to my father and also the other thing social seclusion is a massive threat you understand during our occupations ours for sure and also most likely yours you'' re surrounded by numerous people there'' s a great deal of time alone in retirement so to go from that hectic surrounded by hundreds of individuals to get on your own or simply you and your companion it actually can be dreadful and you recognize the 3rd thing is some health and wellness problems can wreck your retired life you understand points take place to also the healthiest individuals we had a client that was prepared for retirement ready to go her other half prepared to go and they were mosting likely to travel that was their leading goal as well as after that she broke her hip as well as when she began to get healthy her partner fell and also broke his shoulder they had two years not being able to be successful in their vision of what their retired life was so health and wellness issues can turn up but here'' s what I would inform you overlooking your health can make it even worse right so let'' s allowed ' s experience some points that would help individuals have a smoother shift to make sure that if one of these missteps or even worse comes into play they still can glide right into retirement and also have an effective return due to the fact that everybody'' s roll it out we want you to thrive so what'' s the initial thing people can do to have a much better transition I would state the very first thing you can begin doing is plan early you recognize this is a really essential action despite regardless of where you remain in your occupation beginning to plan because people wait on for this for this strategy to capture them as well as after that they really feel like they'' re always behind you yeah you want to prepare early you wear'' t intend to wait till one decade when you'' re in retired life this once again'I ' ve stated this before this phase for us is 30 or 40 years so you want to truly put a strategy basically so that you'' ve got an instructions in which you intend to go and also truthfully this this process of planning need to start in my mind a minimum of 5 years prior to your official retired life date as well as there'' s several components of it to the planning that individuals just Miss as well as if they avoid everything with each other and it'' s amusing individuals push back on'us when they claim I put on ' t I put on'' t want a regular and I wear ' t desire to intend and also those are usually the ones that come back to us and say I ' m now stopping working right here are some components around preparing that we'' d like you to think of so what I was mosting likely to state is this is now we'' re speaking about developing a plan for retirement to make sure that you have a much better shift and if you'' re 5 years into retired life you can start throughout once more and also do this planning but the initial component like you said did you state it yet what are your objectives no you didn'' t claim it yet no allow ' s say it now the very first part is setting your retirement objectives actually simply asking on your own that question you know what are my retired life goals as well as spend some time with it in our on-line program your retired life tactical plan we damage that down into five pillars to have you take into consideration as well as we'' re not claiming our 5 pillars are your 5 pillars yet ours are physical health mental Wellness partnerships spouse companion partnership and after that exactly how you'' re going to share your wisdom so think of those five and after that determine what are your five columns well as well as I would certainly begin with R5 if you'' ve got other ones that'' s great you recognize under relationships there'' s household and also friends as well as all that yet it'' s it ' s a great base structure yeah a great structure to deal with all of these five columns need a plan they require objectives and also they require some activity steps if you do that your shift will certainly be smoother you know some some other considerations that are really vital is do you still wish to work that'' s right some people do do you still wish to work permanent or part-time or as a professional you know you obtained to choose do you want to remain in it or part in it or otherwise in it at all you know we run this business part-time as well as we obtain a lot gratification out of it since it'' s a type of knowledge sharing for us as well as some individuals require to maintain benefiting the cash which is great you don'' t requirement to function 80 hrs a week once again yet working to make money in retired life is fine you'' re still pay attention individuals are functioning well into their 80s and 90s yet it might look a little bit differently it might function for a business that really matches better with your um individual worths values yeah um some individuals um work because they desire the neighborhood as well as some people function even if they need to be active which'' s how they do it so you understand you need to believe regarding your vision you need to believe concerning your pillars and afterwards the various other point is you recognize think of creating a spending plan well before retired life you recognize I assume that'' s additionally extremely critical you know recognize what your cash circulation looks like and with a clear budget plan you can figure that out without a clear budget plan you can locate on your own in a jam rather rapidly where that concern before this will such as do I wish to function becomes I'' m gon na need to work and there'' s a great deal of information out there on Financial Preparation and also establishing a spending plan in return atmosphere we wear'' t do any of that job we do all of this non-financial work yet getting together with your account and a financial planner does aid a great deal now knowing how much earnings is guaranteed is the primary step and afterwards develop your dealt with cost into that spending plan you recognize the various other thing I would certainly say is keep an eye out one five and 10 years or more to make certain you'' re building reserve below or there I know that'' s what we speak about fairly a bit and also it'' s tough to do to actually you recognize pull some money apart yet if your objectives include travel you'' ll requirement to build that in what um you understand the various other aspect of preparation is you need well the preparation you require to discover a method to feel pertinent once more you understand during our occupations our jobs we'' ve constantly had a function we constantly felt essential we always felt required we obtained so much out of our careers when you move right into retirement that vanishes well you recognize it'' s funny when you'' re leading groups and also making important decisions you know every one of that proceeds to develop that relevance right and so now the initial Monday after retirement currently what just how are you gon na drive relevance in your life yet not everyone really requires to deal with this as soon as possible when you first enter retired life regarding really feeling pertinent once again because you can simply take a bit of a pause which is okay but if you are feeling pointless and you desire some help then lean a lot more on your pals set up some weekly Gatherings get obtain the social end of your life rather energetic because that can be by itself meeting and also really feel relevant or join some clubs or teams you know instantly really feel and also locate similar people around you a great place to do that is volunteering I understand we yap about that however it functions you recognize put your skills and skills as well as energies you know in a focused area well another point that'' s interesting that you could do as well as you you did this and I do it each day I check out but checking out education further education maybe college you obtained a little bit of your MBA at Penn and you took an online course but you recognize when you'' re beginning to do some more formal education it'' s it could hone an existing skill or you can discover a brand-new skill and afterwards you can utilize this knowledge to aid others either as an advisor or a volunteer however you'' re promptly mosting likely to have a community and you'' re going to really feel needed as well as appropriate Once again by helping others you recognize so we discussed in this shift you know what can go wrong you understand why very early preparation is important and making sure you have a spending plan and after that we hung around feeling appropriate once again and these ideas as well that we discussed will aid you feel relevant and lead you to a life of function bear in mind retirement is an exciting time of your life and we ought to all do what we wish to do when we wish to do it with whom we intend to do it and also simply ensure that we squash it to make sure that you can prosper in retired life that'' s our brand-new word absolutely your brand-new word we wish you such as this video clip and also if you did you'' re mosting likely to enjoy this following one we produced a three-part collection of video clips regarding preparing for retired life and also we enter into depth on one decade out 5 years out and after that one year out watch these 3 beside help you with more concepts on transitioning right into retirement
Instead Of Downsizing your Home for Retirement, TRY THIS!
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because scaling down isn'' t for everybody or possibly there ' s reasons scaling down doesn ' t work for you as well as we'' re going to cover that in a couple of minutes you understand if you'' re not in agreement with your companion or you don ' t have the moment or money or your house is actually the excellent size for your brand-new life after that this video will offer you brand-new hope as well as inspiration of what we call appropriate sizing [Songs] i'' m gon na retire soon and also the first point we'' re gon na do is downsize our residence who passed away made you employer what do you indicate this is what we'' re gon na do we got ta scale down everyone downsizes right a great deal of our customers come to us in this dilemma as well as while downsizing is a word that the majority of people connect with retired life it additionally causes tension in a partnership when one partner wishes to downsize as well as the various other does not and after that if you have kids they'' re going to have a point of view also and this can wind up being a disruptive problem and abuse a partnership and a family members but there is hope since downsizing isn'' t for everyone or possibly there'' s reasons that scaling down doesn ' t help you and we'' re going to cover that in a few mins you recognize if you'' re not in contract with your partner or you wear ' t have the moment or cash or your residence is in fact the best size for your new life then this video clip will provide you brand-new hope and also motivation for what we call right sizing and remain throughout where we'' re mosting likely to share 10 fast inexpensive modifications that can aid bring life back to your existing home all right so today we'' re going to go back from the concept of marketing your present house and offer you some choices to consider as well as stay in that house however before we go additionally we intend to present ourselves specifically if you'' re brand-new to this network my name is mark rollins and also i'' m jody rollins and we started retired life transform in 2017 not just for us however, for all of you and the 10 000 individuals turning 65 daily now we put on'' t concentrate on any of the monetary aspects of retirement but rather way of living health partnerships and even more as well as if you'' re new here please strike the subscribe switch as well as the notice switch so you'' ll get alerted when our videos come out currently if you do wish to downsize we did a fantastic video clip as well as the link to that will certainly be listed below and also that really comes with a worksheet to help you undergo that but today we wish to speak about not downsizing remaining in your home we in fact downsized what we underwent a procedure that we discussed in the first video where we in fact had to clean up the entire home bent on offer it so we eliminated clutter we got rid of furniture we made one of the rooms a den painted the entire residence throughout right what else did we do and i was considering your home believing to myself with all that work done honestly why do we desire to sell it yet inevitably it made feeling for us to do so let'' s talk about the factors why marketing your present residence and also moving might not make sense and also the initial thing is you could not like i didn'' t want to you could not intend to leave your current location your pals your household or your volunteering neighborhood well the various other point is your home may really be the best size for this stage of life sure the children are left and you have some extra bedrooms yet you don'' t desire to move into a smaller residence now you wear'' t intend to relocate can be difficult can be stressful and you actually enjoy having a little bit of a yard to do some horticulture possibly doing some home repairs there'' s sufficient space for good friends to check out or grandkids to remain over so perhaps your existing residence is simply the best dimension and some customers come to us with this factor monetary factors to consider possibly your mortgage is paid off as well as your home tax obligations aren'' t so poor as well as your financial coordinator thinks it makes good sense to remain where you are that'' s a factor not to sell yeah and another factor not to market maybe your residence has an apartment either in the cellar or upstairs that you'' ve been leasing for a while as well as your strategy is to move into that as well as offer this house to one of your children later on or sell it to one of your schools or market it to among your youngsters however it offers you a choice to keep it and also then actually have the ability to obtain usual contract with your kids that you get to remain there or downsize one day in the future however today your home is fine the fact is however everyone will either scale down or be downsized at some time in our life so let'' s dig into some concepts that we developed to allow you to remain in your house yet make it seem like you ideal dimension currently listen this will take some work and also it might seem like at times you wish to quit however we desire you to pay attention meticulously as well as take a couple of notes and also imagine the possibilities for you and your family members in your existing space as well as don'' t neglect at the very end of the video clip we'' re going to share 10 quick solution suggestions to help you make your house really feel better and one that you actually want to remain in so let ' s state you ' ve made a decision to remain for whatever the reason and also you and also your companion get on the exact same page right sizing to us implies beautifying your home inside and also out imagine that you'' re gon na offer your house so it needs to be repaired up and also by the time you'' re done you will have a brand-new updated home that you won'' t want to leave so allow'' s begin outside so perhaps because you ' ve been functioning so hard for as long your shrubs and also your yards and your total building actually feels thick tired as well as looking for a redesign yep there are some straightforward things you can do you know you can trim the shrubs you can pull your weeds you can include some compost and absolutely nothing looks far better than a crisp side around garden beds right you can in fact declare part of your backyard if you'' re industrious as a veggie yard or maybe acquire a bench as well as stick it in the corner or make a small fish pond or water fountain in area of emphasis since you have more time believe of your property as an oasis as well as an area for you to truly invest your time as well as if you'' re not actually certain just how to do that employ a landscape engineer obtain a genuine plan and agree with your companion you'' re mosting likely to do this over 3 or 5 years once again put on'' t make it seem like a significant job with a whole lot of cash but do something with a designer that'' s expert and do it slowly what you intend to consider is visual appeal you wish to consider when you draw onto that driveway you feel great to be there you can'' t wait to walk the building and also obtain right into your home so let'' s relocate inside the house keeping with the theme of obtaining your residence all set to market if the inside has actually been ignored since of absence of time or wear as well as tear from the youngsters currently is a great time to spruce points up you can start area by space if you'' re doing it yourself or if you'' re ambitious you can employ some contractors and maybe simply to attempt it begin with one space a simple room a very easy room let'' s say you have an extra bed room as well as you intend to convert it to a den and usage or you have a den that you spend a great deal of time in with each other as a pair deal with that space do a simple light clean decrease the clutter but perhaps you recognize the carpeting as well as the furniture needs to be cleaned as well paint the wall surfaces in the ceiling do something to consider that room new life or go a step even more and also maybe get a new tv or set up a stereo so you have music or head out and get some comfortable light updated furniture and also possibly tidy the rug or think of a new rug and even peek under the rug to see if there are wood floors under there now if you do this one space it'' s going to offer you a preference of what can be made with the rest of your house it will certainly get you delighted and also inspired to do even more you can additionally clear a number of spaces at one time you understand putting whatever right into a garage or a room make things go a little quicker we'' re not attempting to invest your cash yet working with a contractor will assist that and bear in mind if your strategy is to remain right here for 20 or thirty years it makes feeling to do this because simply think of it annually that you'' re in there longer as well as you don'' t update it it just gets really even worse and if you require suggestions what is it pinterest is a fantastic location to go or house to get ideas set a budget plan a yearly spending plan each year to start to prepare out what adjustments you want to make to your house below are a few other suggestions that concerned us from a couple of clients you understand in your kitchen appear some brand-new counters or paint those dark closets a light color also acquire a couple of brand-new appliances or tidy every one of your cabinets in and out and also certainly contribute what you'' re not utilizing we have clients that the other half is a fantastic cook been cooking for life as well as enjoys it she headed out when they retired as well as bought a brand-new stove and also um cooktop the the original ones resembled 40 years old she has these new stoves down and also she really has an entire new feeling and motivation to prepare currently to ensure that that'' s a good idea to do now if you have an extra bedroom in your house let'' s say the kids have actually vacated claim that as a residence office or one more den you can constantly put a take out couch in there we have among them in florida and also it'' s still it provides you one more room to go to yet it additionally permits if if children or grandkids intend to rest over there'' s a bed there things is to go back right into your home as well as think of the modifications you can make so it can really feel to you like a brand-new house and thank you for staying till completion so below'' s what we promised 10 quick changes you can do to your home that are reasonably economical the first thing is tidy all your wardrobes every one and also i'' m telling you when you take one closet and also claim we'' re going to clear everything out we'' re mosting likely to put right stuff back because we want and also everything else gets donated the sensation you get is unbelievable it is so the very first point is to clean your closet as well as the second thing you discussed which would be contribute it'' s a no-brainer it constantly makes you really feel excellent donate what you don'' t need because various other people do require it the third point is as well as this one might appear foolish but we'' ve done it a number of times you'' d do it every week if you might alter your kitchen area cabinet handles just the knobs as well as it is entirely change your kitchen just by changing the handles currently lighting in your house maybe you have heavy drapes possibly you put on'' t actually have intense light bulbs or lots of lights include some even more modern-day lights pull down your drapes let some natural light in it'' ll make the world of distinction as you walk your residence the 5th one is a large one for me purchase on your own a new bed mattress when is the last time you got yourself a new cushion rest is so important your old one possibly requires to go the mattress firms say what every eight or 10 years you require a new cushion if your own is 15 or 18 years old you absolutely require a new mattress the other point you can do is you understand in addition to the new cushion get some brand-new bed linen and bed linen for your for your bedroom brand-new towels in the shower room whatever it is again an extremely reduced price change however it really feels brand-new so the 7th point that you can do is just merely reposition your furnishings in your living area or your den or your eating location or your cooking area simply relocate around take an entire makeover at every one of those rooms and move type of factor and shoot as well as move furnishings around currently the other thing you can do is participate of your garage or your cellar or an extra room as well as transform it right into a home fitness center i'' d discuss an office before however you recognize in retired life we talk a lot regarding physical wellness so as opposed to mosting likely to a gym placed the fitness center in the residence so i'' m gon na return outside and just enhance tidy up your property outside think visual allure as well as that'' s number nine and number 10 is jody ' s favored she ' s so efficient this we have candles around our home as well as when jody you recognize late afternoon she lights all the candles in the kitchen as well as the den she likewise has this scent maker i desire i understood what the name is you bear in mind i put on'' t yet it simply it simply pumps out put water in there a little drops of oil and it simply makes your house smell so fresh well we also have a pet dog as well as i never ever want you to come into our residence and say oh god you have a canine so those are ten fast repairs we wear'' t want you to feel secured into needing to scale down but if you'' re going to stay where you are do something to make the house that you stay in feel new and fresh do some of the 10 quick fix tips and enjoy your fresh upgrade at house as well as if you enjoyed this please show your pals and please subscribe by clicking the subscribe button it truly means a whole lot to us to obtain this message bent on as lots of people as we can as well as ultimately join our complimentary facebook community the link remains in the notes below thanks for paying attention and also we expect being with you once more
How we Retired at 40..💰7 tips to succeed for Early Retirement💰
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Hey guys retired at 40 I’m going on a little road trip today just me and Murph and last week I reached a milestone on my channel and I hit a million views total and 10,000 subscribers in the same week since I’ve been getting requests for quite a long time about how I retired at 40 and I’m on a long road trip right now I figured what better time to share the story so without further ado here’s the retired at 40 story so before I get started I want to say that this is not in any way a brag story in fact I’m definitely not a showy type guy I enjoy very simple things in life and money to me is more of just a vehicle to be able to retire young and have my family live a comfortable and an easy life and to be able to enjoy lots of life experiences and be comfortable in life before I’m old and gray so really the journey began in about 2002 graduated from Iowa State University with a degree in marketing and business and by that point I have met my wife Kelly she had already graduated from school and she was kind of waiting for me and we wanted to move west out of the Midwest to move west see some new territory and get closer to the outdoors so I grabbed my degree ran out the door packed up my 1987 Ranger fully equipped with eight foot hay racks full of all of my personal belongings and we drove to Littleton Colorado and at this point in my life I had $200 in my pocket and Kelly had about the same so being completely naive and basically completely broke but with a degree I was on the search for the best suit and tie job that I could possibly find so I bounced around for a couple months just working some kind of halfway jobs and I quickly realized that I did not want to wear a suit and tie and I wanted nothing to do with the man and working a nine-to-five job well Kelly had found a job in a real estate office working the front desk and she had become friends with a couple of the big-time Realtors there one of which you caught wind that I had some handyman type skills but he made me a deal that if he paid cash for a house and I fixed it up that he would split the profit with us 50/50 and at this point in my life all I saw was dollar signs if I was completely blown away that there was someone that could pay cash for a house this is coming from a guy who had less than $200 in his pocket at this point it was pretty much scraping by I tried to hold back my excitement to him but naturally I said yes please let’s do that I was working the graveyard shift at Target stocking shelves I’d worked for 10 hours I would go home grab a little bit of breakfast and I’d head over to the property and work on it for another five or six hours I try and catch a few hours of sleep and then I would rinse and repeat it was at this point in my life that I learned a few different things one you really have to dig deep to reach your goals in life because I was not getting paid by the hour and at this point I didn’t know how much money I was gonna make I didn’t know if I would make $500 when this was all done or if I was going to make $5,000 when this is all done so I learned that a lot of things that can benefit you financially you have to put in the work upfront without knowing what your final outcome is going to be after about three months which seemed like an eternity of working seven days a week for sometimes 15 sometimes 20 hours a day on this house the house was ready to go on the market and it was all finished it looked great and then before you knew it it’s sold and then the house closed and at this point I still didn’t know what we were gonna make off it but for me it didn’t matter the hard part was done I didn’t have any of my own money into it I just had my time basically so the guy we were doing the investment with hands me an envelope and I opened it up and at $8,000 being twenty-two years old and having $8,000 I might as well have hit the lottery and that brings me to my second valuable lesson that I learned and that is being responsible with money so when you have $8,000 and you’re 22 years old a lot of people would go buy a new car they’d go buy some flashy things some pretty things but to me I had realized that if I can make $8,000 once I can make $8,000 again and again and again and again so I can either go p*&% the $8,000 away that I had worked my a#* off for or I can take that $8,000 and do exactly what he did but do it myself and potentially make twice or three times as much money so my wife being in a real estate office we became acquainted with quite a few smart people financially smart people we learned a lot about real estate very quickly because we were willing to learn which is my next valuable life lesson is that you never stop learning so we took our $8,000 we put a small down payment on a condo in Littleton because we realized that giving someone else our money was you might as well be throwing it away we wanted to be working towards something and it own something on our own so we took our other four or five thousand dollars and we started our search for a real estate investment that we could do all of our all on her own and get a hundred percent of the profits so after some searching we did find a place we found a small town home it was not in as nice of area as we were living it was smaller it needed lots of work but that takes us to our next light life lesson that we learned and that is to sacrifice for a greater payoff in the future so we had only lived in our condo for a very short time but we realized that if we moved into the real estate investment that we could rent out the place that we are living at and move into the place that we were fixing up that we’d have to be paying a mortgage on anyway we had our first real estate investment and we had our first rental so being 22 years old and owning two properties and carrying two mortgages and at this point I’m still working at Target was a pretty scary proposition in life but all I could see was that $8,000 check they had started to change our lives I also want to point out and kind of give a shout-out to my parents and to my wife’s parents because neither one of our parents ever handed us anything in life they always made us work for what we achieved in fact when we move we tried to convince my parents to co-sign on our mortgage for the condo that we bought and they said no way at the time I was very very mad at them and I thought I would never forgive them in hindsight it was one of the best things they’ve ever done for me because it just made me have that fire in my belly and really just want to work to get what I wanted so back to having two mortgages that was a completely scary thing in my life I was making something like 10 dollars an hour at Target I think Kelly was making $13 an hour at the real estate office she was working at we could barely afford the condo we had but now he had two.
God bless the banks lending money to anyone at that point on the very plus side of that we learned that someone else can pay our mortgage and we’re basically getting that money for free and then later we figured out that there are many many many tax benefits and huge benefits of owning a rental property so we quickly learned that trying to pay for materials and the things needed to fix up an investment property on just barely over minimum wage is not easy to do the thing that happened next couldn’t have come at a more perfect time so all of a sudden I had money to spend to fix up this house and it would just get me to that next big paycheck that much quicker so that’s what we did we fixed up the house we doubled our money we rolled it into the next one so we kept bouncing from house to house quite a few times and that sacrifice of from going from a nice house to live in to going to a crappy house to live in to fix up to making it nice again to going to another crappy house to fix up it became pretty stressful but we always had our eyes on the prize “are you still with me Murph?” after doing this two or three times I remember getting a check for the last one and the check was forty one thousand dollars so at that point it didn’t make sense to work at Target anymore so I just started doing it full-time but we never took the big proceeds from the real estate and put it into our actual living we always rolled it into the next property and that kind of gave us the baseline of even how we live today we always live well below our means we take the money that we make and we put it into things that will make us an income not into something that will lose us money but you do have to treat yourself every once in a while otherwise there’s no reason to make the money in the first place Kelly saw many of the high producing Realtors making large amounts of money so she decided to get a real estate license and she created her own real estate business so now we really felt like we had the world by the balls because we were getting paid a commission to buy the property and then we were saving half of the Commission when we sold the property and I was fixing him up so we just get rolling our profits in rolling our profits in rolling our profits in until family we were able to buy a house and now that we could get a house we were playing with the big boys the profits were much larger but so was the risk and we really didn’t want to lose all the way it worked for for the last couple of years so we did a few houses and we made some great money but instead of selling them and pulling out our profits we kept them as rentals and it was at this point that we really started building up our rental inventory at this point it was about 2006 or 2007 and real estate was starting to slow down a little bit but we have purchased a large house I’m a courage that was really a big risk for us it was a large house to fix up it was our biggest project for sure it took us the most money to fix it up and we had the most money into it so we lived in this house for about 8 months while we were fixing it up and we kind of decided after doing about 12 properties that the moving all the time was starting to get kind of old and we were kind of getting older ourselves and we decided that we wanted to have kids and kind of settle down a little bit Murph are you with me? sometimes I feel like I’m just talking to myself so after the eight months was up we finished the house we sold it and shortly after the real estate market completely crashed the bubble had burst and Colorado was one of the hardest hit States we got out of the house just in the nick of time and not only did the real-estate market bubble burst we found out that we couldn’t have kids and it seemed like a real low point in our lives but around 2007 when all this happened we realized our next lesson with every negative there is a big positive that can be gained from it and you can just use it as fuel for your fire so the recession was tough we thought our great life had come to an end we thought we were gonna have to get regular jobs you know people were losing their jobs left and right people were losing their houses Colorado was hit very very hard one of the worst states during the recession and we learned that what goes up must come down and in this case it came down hard in many cases not just real estate when things are bad that’s the time to invest and if you’re smart with your money and you’ve been saving while everyone else spending that’s the time to benefit though from about 2008 to 2012 we were buying rentals so we were able to adapt I started doing contracting because that’s pretty much what I was doing before but now I had to be doing work for someone else and Kelly’s always been a mover and a shaker and even a bad real estate market she was able to keep her business moving we were buying things for pennies on a dollar and even though we were not making great money and in some cases losing a little bit of money on rentals we were able to stick it out and after lots of lots of years of lots of lots of heartache and lots of lots of doctors we were able to have two boys so about 2014/2015 real estate started creeping back up again prices kept going through the roof and just when he thought it was the peak they just kept going up stuff was flying off the shelves you could list a house and it would have multiple offers within 24 hours so we had about age 35 we were completely debt-free we had several rentals that we were cash flowing we didn’t owe any money on the rentals so all that money was just rolling into a bank account when you have no bills and you have an income coming in your net worth starts to grow very quickly so we rode out the storm Kelly’s business was doing great my contracting business was doing great we have liquidated a lot of our real estate in Colorado we had capital to play with we had two beautiful young boys and then I fell to my knees crying like a little baby I had herniated a disc in my back and I was on a walker for about a month contracting for me was out of the question I didn’t even want to think about picking something up so I took some time off and I raised our kids which at first I thought would just be for a few months and then a year passed and then another year passed and I decided that I kind of liked it we had rental income coming in Kelley’s business was doing better than it had ever been in fact she had started her own she had several people working for her and just as a little side income I got to do what I love to do which is antiques I was just buying and selling antiques so we were trying to be very strategic at this point because we owned a fair amount of property in Colorado but we knew that our ultimate goal was to retire at 40 and at the rate things were going up we didn’t want to sell too early because we didn’t want to miss out on that upside but we didn’t want to sell too late because we didn’t want to risk the chance of taking a step back so as some regret we sold the majority of our properties in around 2017 but this was a game-changer because we were able to make cash for every rental that we purchased so we loaded up on rentals in Iowa we actually purchased our property that we’re going to move into which is actually where I’m headed now and that kind of brings us up to speed to current date I take care of our 10 rentals which keep which keeps me pretty busy just in itself i buy and sell antiques i get to see my kids all the time we have a good rental income coming in now we do youtube oh yeah we also do a couple fix and flips every year Kelly has her real estate team with about 10 employees and in June of 2020 we’re going to retire at 40 so all in all life is great I have a wonderful family I have enough assets and passive income to live a comfortable life
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