I think every 20-something should be seriously considering real estate investing to build wealth now and not waiting until later in their 30's and 40's and 50's.
The number one reason why now is the best time is because you have the number one asset when it comes to growing wealth, your time. It's just unfortunate that so many people wait for so long.
I understand retirement is maybe something that you don't really want to think about. Maybe you think it’s boring or something that you don’t have to think about until later. What if you start investing now as opposed to waiting until “later”? What if starting now would shave off 5, 10, 15, or 20 years of your working career?
You may love your job, but what if you had enough money to do whatever it is that you want to do? If you want to stay in your job, you stay in your job. Maybe you love your job or your industry, but you would like to take more contract work or have the time to work on a passion project, or be able to travel the world.
When you're young, you have such an advantage over anybody else, because having time on your side is massive in growing your wealth and creating financial freedom.
The second reason why I want you to consider investing now as opposed to waiting is because you have the ability now to make so many mistakes... and recover from them.
When you get older, you will feel the consequences of your mistakes so much more.
When you're young, you don't have as many responsibilities.
You don't necessarily have a mortgage or aging parents or children or all of these things and responsibilities that make taking risks that much harder to do as you get older.
My suggestion is take those risks now. Make those mistakes now. Learn from them. Keep going, and when you get into your 30s and 40s, you're going to be so glad you did.
By that point, you will have developed the skills and the habits of building wealth and investing. You will be able to see opportunities clearly and take advantage of them faster, and you will achieve your financial freedom goals exponentially faster than you would if you hadn't started NOW.
Investing now will also give you so much more security. Back in the day, everybody had one job, stayed in that one job, got a pension and the government would take care of you. That is no longer the case anymore. Pensions are dying out and the government is definitely not coming to save you.
You have to take responsibility for yourself and your finances and start doing something for yourself now that will offer you the piece of mind and security later so that you can make decisions with confidence, and without having to make decisions based on fear.
You will be able to take a job because you want it, not because of the pay or security that comes with it, but because you have your investments backing you up and providing that security for you.
You will also be creating a habit.
When you learn how to invest in real estate, you're learning a wealth building skill. You're also creating habit and the habit is of continually putting your business of investing first. Your job is your job and it provides your income now for now, but that income is not forever, it is only a moment in time.
We are all going to end up in the same place. We are all going to end up relying on pensions, or our retirement funds and our investments. By starting now and starting early, you're developing a habit that is going become second nature to you.
You are learning to pay yourself first. You've probably heard this before. You are setting aside your income and building something for yourself. That habit is a lot harder to develop later in life when you have a lot of other responsibilities to take care of and when you just simply haven't been doing it for so many years.
Paying yourself first and taking care of your finances is the most important skill that you could possibly have other than taking care of your own health.
Nobody else is going to come and help you with those things, and if you don't take care of it yourself, you are going to be sorry later.
To any of the thirty, forty, or fifty somethings that are reading this ... It doesn't meant that you can't get there. It's just going to take more work and more time. If you agree with me share this with someone who needs to hear it.
If you are young and just starting to think about money and investing, you've got such an advantage and I really want you to take it seriously and get excited about the fact that you can take control of your finances, and achieve financial freedom way earlier than you thought possible. Start learning, and more importantly start implementing strategies today.