STEP ONE OF MY FIRST STEP – THE REALITY CHECK
VH - ELQ
Describing one’s first tentative step to a more prosperous life entails looking deeply at what had preceded that step – A REALITY CHECK !!! Now when I look back from my more mature years I realise this should have been done decades earlier, as I’ve learned the hard way YOU ARE NEVER TOO YOUNG TO START INVESTING !
The Smile Making Red Baron
THE HISTORY OF A FINANCIAL MESS
As a fulltime Jazz musician [ when I was working ] and at the same time being a part time seaplane pilot you’d think I would be rolling in $$$$$$ s, but the truth was it was far from that, and my family were not being supported in an appropriate way. Mind you, I was having a wonderful time doing the two things I loved [ passions ] and the long term future seemed too far away to worry about – besides which I always had the pension to fall back on………..hah hah hah.
Click the Baldwin Concert Grand Piano
IS THERE A CHANCE OF PROSPERITY ?
There was always lots of month left when the money had gone, and both music gigs and duty days on the seaplane never earning enough. How did one get out of this situation ? It was something I had dreamed of doing, but had very little knowledge of those matters. I suffered from a total LACK of Financial Intelligence. Being surrounded by extremely cautious and totally risk averse people didn’t make the decision process any easier, either. If I ever hear the phrase ” Investing Is Risky ” again, I’m sure I’ll explode. Investing without education / knowledge / or financial intelligence certainly can be risky. Eventually a crisis point was reached and just when the worst was about to occur, I received a very small inheritance from an aunt. [ Bless You Auntie ]
EDUCATION AT LAST
My aunt’s inheritance was enough for me to do the almost unheard of thing of taking 2 days off work to attend a two day seminar on wealth creation based on property, with extra information on tax minimisation, offshore investment and asset protection. The presenter, who has since retired from the seminar circuit, was a total inspiration to me and I readily signed on the dotted line for a mentoring program which included weekly telephone conference calls and a one-on one session monthly. His main thrust was using equity in your present home to purchase a second, third, fourth etc home, but that was impossible for me, so after several one – on – one’s, the suggested strategy was to buy my first lower priced investment home in a country town using my inheritance as a deposit, and letting the rent pay it off, while it hopefully gained in capital value.
HOW DO I GET A MORTGAGE ?
It all sounded wonderful. The first obstacle to overcome was finding finance ! What a huge barrier that was for me because I sure wasn’t a spring chicken at the tender age of 63 years young, being a musician, and having retired from my other passion of seaplaning. Added to that was the lack of available equity to ease things along. That seemed to be the most difficult problem to overcome. All the presenter could offer to help financially, was a list of Mortgage Brokers who had submitted their names to him for consideration. That’s a whole story in itself, and also the beginning of a very important friendship, but I’ll see you soon for that in Step Two of my Path To Prosperity.
OBSTACLES ARE WHAT YOU SEE WHEN YOU TAKE YOUR EYES OFF YOUR GOALS. [ Dr Bill Newman Ph.D ]
ACCENTUTE THE POSITIVE ! Thanks for sharing my blog
For more information on seaplanes go to http://tinyurl.com/ln8xgf
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