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August 21, 2018
I recently spoke with a friend who is a commercial pilot for a major carrier and was surprised to learn how little work a pilot actually does these days. No, they aren’t lazy, it is just that they have a very sophisticated tool that can make decisions more consistently and faster than a human being. This marvel is the auto-pilot. It makes air travel safer than it has ever been and continues to do so.
Wouldn’t it be great to have an auto-pilot for your income to work the same way? Instead of having to work forever, wouldn’t it be nice to set your auto-pilot at some point and know that from a financial perspective, you’ll always be able to look forward to a safe landing?
When I was a young banker just starting my career, I usually got to the end of the money before I got to the end of the year, but I was fortunate that I was befriended by an older co-worker, Al. He taught me that buying one or two rental properties a year would eventually replace my bank income and while I could choose to keep working at that bank; if either they or I decided we should part company, my bills would be paid, and my lifestyle wouldn’t suffer.
Fast forward 15 years and I was actually able to retire early thanks to Al’s tutelage. But, as they say… “wait there’s more!” I was able to retire from banking before I was 50 years old, choose my own path and not sacrifice my lifestyle. Now I teach these and other real estate wealth building strategies for creating financial freedom and allowing people to live their mission. Some continue with corporate jobs, some build massive retirement accounts while others travel, and some pursue philanthropic efforts. What’s your mission?
The number one challenge facing retiring Americans today is whether or not they will outlive their retirement income. In the next 20 years the Social Security Administration reports they will only be able to fulfill 79% of their obligations. That’s scary for many, but it doesn’t have to be, and it won’t be for those who simply prepare.
There is great power available when we are no longer financially dependent. Some do it by scaling down, others by creating auto-pilot income streams via the internet, real estate, stocks and bonds or investing in something else. One of the reasons I love events like Planning For Prosperity, is that it opens the doors to new possibility and it helps me network with others who are doing amazing things to better steward their money, time and talent. I hope you’ll join me and many others to make this event a great success.
Written by Augie Byllott
Augie Byllott works with financially frustrated professionals and entrepreneurs who are burning out and tired of swapping hours for dollars to create money out of thin air using his simple 6 step W.E.A.L.T.H. System™ to invest in real estate without using banks, cash or credit. He is the founder of Creating Wealth USA and the author of the Financial Freedom Formula.