How Can I Get Rich

How can I get rich is just one of the questions new property investors often ask themselves before taking the plunge. By looking at estate agents in their home town they can see the cost of houses and then when they see ‘to let’ and realise they are paying money to someone else for living in a house which they could be buying for themselves, they realise that the question they keep asking ‘how can I get rich’ simply isn’t going to happen unless they change the way they think about their biggest expenditure in living. Estate agents in most places have a fairly harsh reputation often without reason, but when teenagers ask themselves the big ‘how can I get rich’ question the savvy ones realise that property is probably the best channel. Estate agents in every town are usually fairly well heeled so the sight or belief of them getting rich out of property spurs the young folk to ask ‘how can I get rich’ without being an estate agent in this town.

Property ‘to let’ can be a strange anomaly for young people and we started signs saying ‘for rent’ rather than ‘to let’ many years ago.Estate agents in cities need to look the part, smartly dressed with a nice car to see clients. To young people asking the burning question ‘how can I get rich’ and hearing the tales people say about estate agents in every city want the cream without the work which is often why the ‘to let’ sign becomes their norm in life. It doesn’t have to be that way though; breaking out of the mould early in life is good. Last week we had a lady who had purchased her first home at eighteen, that is exceptional and has to be applauded.

In lots of ways young people have to be exceptional to break the thinking of how they are taught in school to work hard, get a good job and save for retirement. Life is for living and no one knows that better than your average student. It can be lost as we enter the world of work but society and the economy now are making many people question the traditional thinking simply bay asking themselves ‘how can I get rich’.

To let young people carry on blindly working for a failing system is poor thinking and those who decided against becoming estate agents in their home area in case their friends see them as lesser citizens often see the value of the ‘to let’ sign as their opportunity to find financial freedom.

Putting old heads on young shoulders has always been a problem but unless we educate our children with the right mind-set to become free from the continual pressure of a job we are unlikely to be able to help them answer the question ‘how can I get rich’ which they ask themselves every day. It’s probably more than once a day for most kids as they see so much in the material world. Adverts, cars, games, the list goes on and on but one lesson we should be teaching is to nurture nature naturally, and feel the spirit of life without the need for possessions. The road to true wealth is not having more but wanting less.

When we want for nothing we are truly rich. The biggest thing we should teach is the value of true love and how that can fill any void in material wealth. Health and nutrition is far more important to our population than having the new iPhone yet there would be no surprise in someone going hungry to have that gadget before their friends. What few people realise is that if we have to impress our friends with what we have, they aren’t our friends.True friends want you as a person and value what you have to say, your support, the value you bring to them as a person, nothing to do with objects. Wealth teaching would be a better lesson in schools than many subjects that children learn or attempt to learn these days. Society doesn’t really need more gadgets, it needs more happy people. Of course without people wanting the materialism aspect many would struggle to create wealth for themselves and jobs for others as consumerism drives the economy. That and taxes of course!

Tax is another thing we can’t avoid and yet we should be happy to pay it as it’s a sign of our earnings. The more we earn the more tax we pay traditionally. Only through property many people pay less tax because they live off borrowings, the mortgages they raise against their portfolio becomes their income so no tax is due. This can be a great realisation for those asking ‘how do I get rich’ as they start to see that the richest people probably pay less for everything than the poor. Managing resources and getting the most value is the way most property people look at life. When they see ‘to let’ they see it as income not expenditure. When they speak with estate agents in their area they want value in a box not a place to live. When they ask the ‘how can I get rich’ question they know that every property will increase in value at some point no matter what the economy is doing. When times are bad for the masses there are rich pickings for the savvy guys.

There is some talk of things moving forward with the economy and of course there are items that suggest we have more bleak times ahead. Many of the investors I have connected with feel the rich pickings will be next February and March. That’s when the roots of their money tree will be nurtured so the fruits can develop over the years ahead. Buying property at the right price is essential to building a valuable portfolio. The window is open now, maybe for a year or two. Gather while you can or procrastinate and complain later.

Always look to answer the big questions.

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