What interesting conversation in this thread!I can not speak from experience as I've yet to reach my financial aspirations. I've started late with minimal resources.However, I've noticed by studying wealth creation being taught there are some principles which are common among those who succeed in creating and maintaining wealth (in all forms…[Read more]

Thanks KY.You're right about my income being miserable which is why I can't do anything financially on my own and will need the involvement of my kids. Inspite of having always paid more than minimum on my mortgage(s) (on different properties) for nearly 20yrs, and acquiring other unmortgaged property besides, the banks won't loan me anything for…[Read more]

Thanks for your comments KY.In effect there would be potentially 3 rentals: 2 new houses @ $200/wk each plus my renting of existing shop/house for $150/wk. So total income potentially is $550/wk less expenses.  About $28k/yr less expenses.I would ideally prefer to keep all of the properties but might look at selling one of the new houses and…[Read more]