Today we are looking at the power of envisioning a rich future for yourself. This is a very critical step as planning your way to retiring young and rich will save you a lot of time and will give you a clear direction which you should follow.
The truth of the matter is, many people desire a rich future but do not fit it into their reality. The same goes for an overweight woman trying to lose weight without fitting it into her reality- she is most likely to give up when at her first setback. Many people say, “Someday I will be rich, someday I will buy property…someday someday someday”. In reality, your future is created by what you do today. This is not to say that you must randomly apply for a loan and buy a 2 bedroomed apartment, trying to rent it. I am simply talking about the principle of asking yourself what you can do today that will help you reach your financial goals tomorrow.
Let me give you an example. I want to invest in real estate and at a certain age,I want to own hundreds of rental units. Right now, because I am fairly new at the game, so I have decided that the best thing I can do for myself is educate myself on real estate. After writing down my goals, I practise the positive habits. So because I am currently practising these habits, it will lead me to more positive developments. Below is a list of the things I do to educate myself on growing wealth for the type of venture I aim to go into.
1. Each week I listen to at least two teachings of financial literacy videos on Youtube, by people such as Robert and Kim Kiyosaki, Donald Trump and many others.
2. I know a few real estate investors who are performing at optimum levels, here in Botswana. I recently secured a meeting with one, who happens to be my uncle’s best friend. He has kindly agreed to become my real estate mentor.
3. I read books about real estate in Southern Africa.
4. I am going to read about the tax laws in Botswana.
5. I read the Advertiser everyday and shop around for great investment deals; particularly the two and three bedroom apartments. I am going to find a friend drive around to the top 10 offers I find so that I can start practising on how to analyse properties.
I believe that you too can use some of my guidelines. This will not only help you to recognise the best deals in town but will grow your awareness and real estate will become a part of your reality.
You can change your reality by changing your plans, thoughts, words and your daily actions. You also need to learn how to read financial statements and shop for investments that will bring you a cashflow. One such avenue is real estate. In urban areas the demand for real estate is rising rapidly, and in a city such as Gaborone it is actually a good idea to start investing in real estate because of the influx of foreigners coming in due to the Foreign Direct Investment initiative of the Government.
I want you to take some time after reading this to sit at a quiet spot and do not allow anyone to distract you. Write up a plan on how rich you want to become, you must be specific. Then you must figure out, based on what you would enjoy, a list of the types of investments in which you would like to venture . Research is key. Decide which you will go for and then write out a plan. Do not forget to include at which age you want to have P25 million for example. This is what you must do in order to really begin your quest at becoming rich.
Teachings inspired by Robert Kiyosaki from the book “Retire Young Retire Rich” with Sharon L. Lechter. Please visit www.richdad.com and check out Kim Kiyosaki’s Rich Woman videos on Youtube. If you want to empower yourself, you must take action, girlfriend.