Two Big And Unexpected Problems
You can quite quickly replace a six-figure annual salary with passive income investments in real estate. Investments that will continue to grow in value over the long term and give you additional tax breaks.
The only downside is that you may soon encounter two new challenges:
- What do you do with all the money?
- What do you do with all the time?
Without a plan in advance, this can sometimes feel more stressful than having neither. They are great challenges to have. How will you handle them?
If you currently have surplus cash being thrown off by your investments, or you are still working in a career you love, and don’t really need the additional income yet, reinvest it.
This can help lower your tax liabilities further. Plus, everything in life notoriously costs more than we expect. This could certainly be true of health care costs and housing in another decade from now.
Don’t use that additional capital, reinvest that, and when you need to, live off the dividends.
Spend A Year On Your Bucket List
Take a year working through 90% of your bucket list. Just leave something to live for. Those last 10% of items you can’t die until you’ve done or visited. That will keep you going.
Otherwise, go travel, experience new activities, take some time to relax, get a cabin as a nice quiet retreat, and spend time with your family, until you start driving them crazy and they want you to go be busy again.
Start The Business You’ve Always Wanted To Do
Now that you have the capital and time freedom, and you aren’t doing it just for the money, start the business you’ve always wanted to. Because you can.
You’ve elevated yourself to be capable of a lot more. Look for the biggest impact you can have and fill that potential.
It could be donating and financial aid. It could be starting your own legacy nonprofit. Or it may be mentoring and spending time with others, and sharing your knowledge of what real estate investing did for you, and can do for them too.
ABOUT THE AUTHOR
Bill Zahller is the Managing Partner of Park Capital Partners, LLC and resides in Asheville, NC. As a Multifamily Real Estate Investor and Syndicator, he founded Park Capital Partners, LLC in 2016 after 14 years involvement in real estate investment. He works with accredited investors and professionals who are interested in real estate investment, diversification, and financial freedom.
Bill has been flying since high school. His father was a Naval Aviator and Captain for TWA. Bill has been flying professionally for over 25 years, 23 of those at his current company. He has accumulated over 12,000 hours and 7 Jet type ratings. He has also held Instructor, IOE Instructor and NRFO pilot positions with a large fractional flight company. He is currently flying the Global 6000 in a long range mission capacity. This keeps it interesting – one week its Beijing or Sydney; the next Rio or Rome.
Bill is also the founder of the Asheville Multifamily Investor Club. Visit www.ParkCapitalPartnersLLC.com for more information.