Each one of us has a financial thermostat. Your financial thermostat is that level of income between what you absolutely need to make (the floor) and the amount you currently aspire to (the ceiling).
I’ve worked with hundreds of real estate leaders, maybe a thousand real estate agents and hundreds upon hundreds of real estate investors in some form or fashion. Years ago I began to realize how each was looking for a way to assure an income between a “I have to make this” number and a “would be nice” nice number. Funny thing is, except for the $100,000 rule*, most have different floors and ceilings.
*$100,000 Rule : When idenfying the income any would be real estate agent would like to make somewhere around 90% will say “$100,000.” Mind you, they may not know how or why, but the number sounds good to them.
Shortly after realizing that other people had a financial thermostat I realized I had one. And then I asked myself “Who set my financial thermostat?”
Sadly, in that moment, I realized it hadn’t been me. My parents had programmed me. My friends, family and acquaintances had programmed me. The news had programmed me. But when was the last time I sat down and figured out what I really wanted and what that would actually cost?
I’d love to challenge you to take some time this week to consider the actual life you’d like to lead, what the cost of that life is and what income would be required to support that lifestyle. Don’t prejudge. Don’t exclude. Don’t believe it is not possible.
Write out the life you’d like to lead and then start estimating the cost.
This will help you to start controlling your thermostat and getting the results from life you desire.
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