Create Your Fortune, Big or Small: The Only Two Paths to Financial Independence (Else, Marry Wealthy. Or Win the Lottery.): Book #5 of 6 (Think Wealthy Personal Finance Series) by Todd Havens

Author:Todd Havens [Havens, Todd]
Language: eng
Format: mobi
Publisher: SafeHaven Digital
Published: 2021-12-16T00:00:00+00:00

Two Sides of the Same Coin

Let’s not get too far into this conversation before we acknowledge that the two paths to wealth, Appreciating Assets and Income Stream for Life, are two sides of the same coin.

You can invest extra money each month, let’s say, into dividend stocks in a simple brokerage account, outside of a retirement vehicle, and have the dividends reinvest and buy more shares of the stock. You start with a hill which will become a mountain of Appreciating Assets. At some point in the future, you can turn off the dividends from reinvesting and take them as cash distributions which you can use to support Income Stream for Life. You flipped the coin, using one path to wealth to support the other one.

By the same token, if you bought those six properties in Denver which provided you with enough FIRE income to quit your job and declare early retirement and those six properties rose in value by almost 9% each year as the Denver housing market has, then those properties that are fulfilling your Income Stream for Life are also Appreciating Assets that are raising your underlying net worth. You will be able to sell those at a profit in the future, if you choose. Or your heirs will.

Each path to wealth is inter-connected to the other so it really depends on the life you want to create for yourself.

Do you love your career and look forward to working up to retirement and possibly beyond? Maybe Appreciating Assets is the primary path to pursue because working week after week for income is a joy.

Do you lean more toward creating your own schedule and pursuing passion projects outside of the more rigid structure of a 9-to-5 workday? Perhaps Income Stream for Life suits your personality and disposition best.

There is no right or wrong way, only options!

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