Quite awhile back I wrote a piece talking about retirement dreams, and how they needed constant care and nourishment. I think it’s worth repeating, along with a few added touches. I hope you enjoy it.
You know what kind of retirement you’d like your real estate investments to provide. You know your current overall financial position. So what keeps your retirement dream alive? What feeds that dream so it works hard and diligently to become reality?
Dreams need constant nourishment and attention because of their nature. You see, dreams are like workhorses plowing the fields, making our imagined harvest a reality. They know what we want and are trying to make it happen. Workhorses do best when they’re properly harnessed to the right tools, treated well, and fed regularly. Dreams thrive when their nourishment comes from a Purposeful Plan. Nothing replaces doing things on purpose, like nothing replaces the daily feedbag.
Of course, the following set of steps is merely the short version of a major concept, but follow them and you’ll be well on your way to achieving your retirement dream.
- Know where you are today
- Decide exactly what you want your retirement to look like
- Construct a realistic Purposeful Plan to make that retirement happen
- Be able to adjust the Plan on the run when circumstances change
- Maintain a generous Sominex Account — Ambien for you whippersnappers
Understanding in terms that speak to you, exactly what you want your retirement to look like, is the foundation of the Plan itself. Without that clear vision, doing things on purpose with any kind of a real Plan becomes difficult to say the least. Imagine a farm — your farm, and you want it to produce maximum profits. Do you get up that first morning, hook the old mare up to the plow and get goin’? Hardly.
What crops are you planting? How many acres of what go where? How much land will need clearing? What has to go, and what has to stay? And on and on — it’s called knowing where you are now. The old mare? It should be understood she’s incredibly valuable to your Plan, and needs to be nourished and cared for like the finest piece of equipment. Unless you can figure out how to plow the fields without her, she’s the most important asset you have.
Growing up I heard a bunch of country sayings from the elders in the family. Many of them had spent much time on farms, and knew what was necessary for success. I wish I’d written them down, as most were not only funny but profound in the principles they conveyed.
One of my all-time favorites was an old adage Grandma passed on to me about a farmer. He apparently learned this particular lesson the hard way.
It seems about the time he got the old mare to work without eating, she died.
And so will your Plan.
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About BawldGuy
As a blogger newbie, and a commercial real estate professional student, I was impressed with this entry, and hope to read more bawldguy insights. you go (bawld)guy!
Thanks Susan – as a newbie you’ll appreciate great bloggers in your industry.
You might enjoy Brian Brady who is a fellow contributor at BloodhoundBlog. There are a bunch of good ones, but Brian will give you an idea of what some of your peers are writing.
Come back Susan.