I feel that by nature teachers are like little entrepreneurs:
you have your own classroom, you create
your own lessons, and you control your own little world, only instead of making
money you make adults! I was tired of
making adults; it takes to long. Therefore, in my final year of teaching I started
expanding my reading to include authors like Robert Kiyosaki, Timothy Ferriss,
Donald Trump and anybody they recommended.
These authors sell an idea, a lifestyle that honestly gave me the
gumption to quit my job. Once I joined
their little cult way of thinking my friends and family surely thought I had
jumped off the deep end, and I had.
I didn't really know where I was going when I quit
teaching. I just had one realization-I
needed to create my own paycheck. Just
like those fanatical books sell, I had an idea that I still hold onto today: I can create a monthly cash flow
that covers my expenses with minimal work on my part. Here are my options to making this happen:
rental property, dividend yielding investments, interest off of a lump sum of
money, and a business.
A business was instantly out of the picture seeing as I didn't know what to sell and that meant I had to do all the work with a high chance of
failure, too similar to teaching. I need
to be able to step away from my investment and a business will take some time while
my learning curve is always a little longer than normal people. Living off the interest of a lump sum of
money takes the longest amount of time.
Saving $10,000 a year is really what I've been able to do since teaching
which means it will take me another 98 years to have a million dollars. That amount of interest would give me enough to
have about $50,000 a year to live on.
But by then with inflation and my age, that wouldn't work. So that leaves two options: dividend yielding
stocks and rental property. I know which
one seems less risky in this market-rental property. So now the decision is made, it’s time to stop talking and start walking the walk.
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