I work as an accountant in a small tax agent firm as an employee. I am studying part-time to earn my degree in accounting (obviously, my time is very limited in my current situation). I want to become financially free as soon as possible but realise that I cannot make leaving my job a must. I am really only studying so that I can keep my job – I got the job without any prior qualifications. How can I turn a WANT to be an investor into a MUST to get the motivation and drive to become an investor?
First step is to save a deposit for a piece of property do research into the area that you want to invest, then the rest is up to you. Its not really a must its a want you must want to do it, dont let anything hold you back. But also finishing studying accounting and it may be alot easier doing the numbers around tax time
How to make leaving a job a must?
Come work at the IT helpdesk I’m at. You’ll wanna leave real quick.
(I’m in saving deposit mode)
More stuff on the voigtstr at http://users.bigpond.net.au/voigtstr
Tell your boss to “go get stuffed” that will make leaving your job a MUST!!
Hi Geoff,
Chelle has given you one foolproof method
You state that you want to become financially free. What does that actually mean to you and how much PASSIVE income would it take for you to consider yourself financially free?
Once you have determined that you then need to set goals which require you to place a time frame on achieving those goals.
The first step however, is to identify your “vision”, “burning desires”, “dreams” whatever you want to call it and then you will find ways to achieve it. You need to be passionate about whatever it is as that will provide you with the motivation to drive you, and then you need to find appropriate “vehicles”.
Property investing is one of a number of vehicles that can be used; as can investing in shares or developing a leveraged business. In fact why not eventually be involved in all of these. Education in each of the vehicles is essential and it will accelerate your progress as long as you are willing to put that education into action. Your degree will help you with a job, and that may be useful in the short term, but it is unlikely to help you to become financially free.
Keep up the desire for financial freedom and you wiil achieve it. Best wishes
pr
I’m sure people will disagree, but I feel that to be an investor, you must have capital/equity of a meaningful size to invest in property. Once you have this, then you can start thinking of leaving your job.
I don’t think that desire alone will get you there. Money talks.
Having a partner who spends money like water is also a motivational tool, but one I could hardly recommend!
Munjy
Hehehehe Munji – good one!
I have been at my wife for 7 years and now she is better at it than me! Damnit!
GeoffT, we got one house first (PPOR) and then saw how all the theory correlated with the practical! During this time we worked hard at controlling our spending and now we have put a deposit on our first investment. All within 12 months. It wasn’t easy and some advocate buying an IP first as you benefit from Tax deductions straight up, but it does come down to you and your wife and what you want!
You got the first step sorted, now work out TOGETHER with your wife (it is too hard if you are fighting her at the same time as trying to invest) what you want to achieve and how you are going to do it! Goals are only workable if they apply to both – took me 4 years to understand that! [grin]Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonIn all seriousness, no one on this forum or anywhere else can tell you how to get the motivation or drive to become an investor. It comes from within. If you want it (and its obvious that you do) then the next question is the means to achieve it. As munjy has pointed out, you need the financial backing to get started. Anyone can decide they want to be an investor. The difference are the ones that leverage their current financial position to achieve their goals and objectives. Oh, working for someone else whilst trying to achieve your goals is not such a bad thing. It may just be the catalyst to get to where you want to go.
Eric
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