24 Apr Here’s how a public school teacher can retire in style…
The other day, I led a high-level wealth and real estate investing seminar. Once I explained the concepts of Forever Cash and the Wealth Wheel to them, one of the attendees, a wonderful school teacher from Idaho, came up to me during the lunch break and said: “Jack, I absolutely love my job. It is all I ever dreamed about, yet it doesn’t pay what I need to be able to retire in style. I have seen my parents retire, lacking a lot of things, and I want to make sure I don’t repeat that for myself. So, I need to quit my job and find something else to do that pays more.”
After I asked her a few questions, here was my answer:
“No, you don’t need to quit your job. Your job has nothing to do with how financially successful you are in life.”
Luckily, she told me that she had already bought three rental houses, each providing a cash flow of $400 a month. She had run out of money for down payments and figured it would take her decades to build this up to an amount equal to what she was envisioning.
By the end of lunch, we had created a rough blueprint for her on how she can have all the money she wants in just four to five years and can then live the lifestyle she wants to and continue to follow her calling of being a teacher.
The solution was easy.
All she needed to do was to apply some of the things she already knew outside of her job and follow an implementation plan. The system would work for her and bring her about $100,000 to $120,000 in Forever Cash every year just five years from now. It would grow to much more than that if she would continue it for just a few more years.
All the while, it would allow her to keep doing what she loves—teaching!