Okay, interesting conversation with the client yesterday. We’ve been talking for several months and she hasn’t done any business with us. But she does keep coming back for advice and with questions, which is fine. I love doing that. And yesterday we had a talk about where she wants to go. What is next for her? She was talking about a bit of financial planning. And I’m not a financial planner, so I make that clear. Can’t give you financial planning advice, but I can talk to you about what you can do to get to where you want to go. And it turns out that she’s got a couple of properties. She’s got really good equity, plenty of not a lot of mortgages. But they’re also in the mid-50s and they want to stop working soon.

They’re running a business and they want to sell that. And so she’s like, Well, what do I do? How do I make this all work? And I said: “The starting point is, where do you want to be and when do you want to be there?”. We work out between the two of us in conversation and worked out that the goal is to have for her and her husband 100 grand each per year income, but not from salary because she wants to stop working to working towards that. She wants to stop working. So, all right. Great. So that’s the goal, having $100,000 in income, each of you, not from a job, which is a great goal, because then you can just stop, your job, you can stop working on a daily basis and when you want to be there and for her was 5 years, which is ambitious, but she does have the assets to work towards it and possibly do it if she’s happy to take risk. And so I said to her, what you need to you know, you get a strong asset but not a lot of income.

She’s actually been kind to one of the tenants and not increase the rent for a number of years. And I’m like, That’s great. And I love how you being kind to your tenant, but I also want you to think about are you being kind to yourself? Because if this is your goal, if you want to work towards this income by this time, this date, then you need to decide, how do I get there? What do I need to do? What steps do I need to take? What is important to me, etc., etc…

And so that’s what we kind of looked at. What can you do with these assets? What can you do now? Could you use thinking about selling the business so that would drop a fair bit of the income? And I said, Well, before you do that, look at your plans and decide if you need that income to to get these plans to the next stage. And so it was an interesting journey to map out where do you want to be when you want to be there, and how do you get that? What do you do to get there? And that’s my encouragement to you as well. If you’re at a stage where like I’ve got one or two investment properties, what do I do now? The simple, simple approach is where do you want to be and when do you want to be there? And how are you going to get there?