It has been a very difficult and stressful week. I was sick for 3 and was unable to put any logical thought into my writing. There have been many, many times over the past several years when I have felt completely overwhelmed by my work as a human resources professional, managing the Thornhill Wealth Forum, writing my book, investing in family and reaching true financial independence.
My big dream is to reach true financial independence.
By that, I mean that I have enough money socked away in relatively stable investments so that the income from those investments provides me with enough for my family to live on regardless of whether I’m actually earning income.
Why is that my goal? It’s not so that I can sit idle. It’s so that I have the freedom to take giant personal risks, like spending several months doing nothing but perfecting a novel or spending a bunch of time laying the groundwork
for a charity or making a real difference to the lives of a few people without having to worry about failure...Read More
It is a wonderful thing when your real estate investment is running on auto pilot. Rents are paid on the first of the
month (every month), tenant does their own repairs (and improvements) and you never receive a phone call from the tenant. Sweet.
But now your beloved tenant is leaving for another landlord.
The work begins. Multiple open houses, carefully vet future tenants like the CIA to ensure the least amount of headache down the road. Thank goodness everything is so easy to do on Kijiji nowadays.
If you are an aspiring landlord this post should help provide some prospective to getting what you want...Read More
Small extra payments on your mortgage do make a difference. Mortgage debt carries the most amount of
stress for most families. So, why is it that most people do not invest every cent they have into their mortgage. It is a sin to pay off your 25 year mortgage in 25 years. There is a better way!
Let’s look at a “typical” mortgage. Without any scientific basis, If I would guess, the average mortgage is $235,000 and the average 30 year fixed mortgage rate is 3.42%.
So, let’s use those numbers. We’ll look at a 30 year fixed mortgage at 3.42% that borrows $235,000. Under those conditions, a person will be paying $1,044.79 per month for the next 360 months. That’s assuming they make the minimum payments on that mortgage over the entire term. They end up paying a total of $141,123.93 in interest over the course of the loan.
Now, what if a person adds just $1 as an extra payment each month for the entire loan?...Read More
Trying to be continuously motivated is tough. When you don't feel motivated it simply means that the thought of what you are intending to do is not compelling enough for you to move. From my experience this is because of one reason:
The thought of what you plan to do appears too vast in your mind, which creates the feeling which is the opposite to motivation – overwhelm.
What you are planning to do is not associated enough to a compelling outcome. This occurs frequently if the outcome you are working towards is too far into the future. For example, if you set a financial freedom goal of owning 10 real estate investments, do not plan to achieve your goal in 12 months. This is unrealistic, unless you win the lottery...Read More
I love my wife dearly and respect and value her opinions. But, I really, really don’t like arguing with my wife. Sometimes, though, we disagree about money, investments and financial planning. We see things differently and bring different experiences and thought processes to the table. She is an accountant and works with numbers every day. I work with people and love to manage money. We might be married, but we are two different people...Read More
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The objective of the Thornhill Wealth Forum is to assemble like-minded people interested in wealth creation, to share, learn and prosper through knowledge sharing and networking. Our philosophy is to be supportive of the wealth of others. Share information on self-promotion or help a struggling entrepreneur…even share it with your competition