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Seems I hit a nerve yesterday – 2 people contacted me to say they disagree or have a problem.
The first person said I am not in touch with reality, how could somebody earning R5 000 per month afford to save anything at all, let alone invest enough money to replace his income. Fair enough.
I will answer with a few points:
Nobody ever said it will be easy, but easy or not easy, if we don’t do SOMETHING we will have NOTHING.
Although it is, theoretically easier to save money when we earn more, reality is that people who earn more spend more! And people who earn more have to replace more. So that, in my experience, whether somebody earns R5 000 or R50 000 per month, it is a battle to find the money to buy the first property.
Something that I have repeated many times: if you cannot do it by yourself, find a partner.
Perhaps we need to look at our ambitions. It is just possible that our ambitions stand in the way of …. our ambitions! I often get the impression that young people want to start off where their parents ended. In other words, they want the lifestyle at age 25 that their parents worked for for years. And that lifestyle prevents them from ever becoming financially free. Are you one of them?
I think our whole society would benefit from more simplicity. A very good friend once said to me: I want to be stinking rich, but I want to live a life of simplicity. There is much to be said for that. Unfortunately, we confuse the trappings of wealth for the real thing. It is no the cars and holidays that make us rich (just the opposite), it is the income generating assets that make us rich.
I cannot say that any of the above is true or false, right or wrong, but this much I know: if we wait until we “earn enough” to start saving, we will never save.
INVESTMENT OPPORTUNITY:
Retirement Village unit selling for R495 000 and a rental of R6 000 per month. At 12% interest it will cost you (out of your pocket) R950 per month and after 4 years you will start making a profit.
No, somebody earning R5 000 per month could not buy this, but … if a parent would help? Or a brother/sister/friend/???
If you are interested in this excellent opportunity – pietm3@yahoo.com is the answer to all your info.