06 Dec Adjust your sails!
When a sailboat is on the water, it doesn’t matter which the way the wind blows because the sailboat can easily adjust its sails and course to catch the wind and eventually get where it needs to go.
When it comes to reaching your financial goals, something similar is true.
Like changing winds, markets go up and down and recessions come and recessions go. But no matter where you are right now, to reach your goals you will need to “adjust your sails” if you want to keep moving forward.
No matter where you find yourself, you can reach your goals.
No matter what those goals are, I am sure that can reach them.
Let me illustrate with a story from my life.
I never participated in the house gold rush that proceeded the 2008 recession and never went and bought houses at market value in the hopes of selling them a few weeks later for more money. To me, that was never a sound investment; that was gambling. I flipped land, but only did so to generate the cash I needed to buy cash flow properties that would spit out cash day in and day out. The way I saw it, the recession was the perfect time to do so. After all, what better time could there be to invest in cash flow real estate than after a crash when the prices are low and rent is high? Many people had been shut out of the lending market due to financials or due to having had their house foreclosed on, and now they needed to rent to have a place to live.
I adjusted my sails and focused on buying and renting. Now that the market has stabilized, I focus on selling and flipping.
Adjust your sails and you can be successful no matter what the world around you is doing.