Sunday, March 20, 2011

Ready-ing to Retire

I am so excited! I'll be making the last payment on my condo next month and after that I can start processing the papers for the transfer of title. Of course there are still turnover fees to pay but I think I'll be able to manage that. Just this month, I was able to pay the property taxes which had already accumulated since 2008. Now I know I have to take care of it yearly to avoid the penalties.

Now that I've already made my first property investment, this got me thinking that I should start building the rest of my investment portfolio and start thinking about my retirement. I've read dozens of books and magazines about personal finance already and now I think it's time to start applying what I've learned from them. I have always wanted to take advantage of the power of compounding but it is only now that I'm taking steps towards it. I know that I should have started earlier and there are a dozen excuses I tell myself why I didn't, but at least now I know that I am ready and willing and that it's not yet too late. This is why I signed up for Bo Sanchez' Truly Rich Club so that I could be properly guided as I go along my financial journey. It's only been two weeks since I signed up but I am already reaping the benefits. Reading the e-books and hearing Bo's power talks reminded me why I wanted to be financially independent in the first place. His newsletters and inspirational emails encourages me not only dream my big dreams but also to take concrete actions to realize them.

For those of you who knew Bo Sanchez as a Catholic lay preacher, don't worry, he still is. But what business does he have, teaching about personal finance? Sounds weird right? I know! I was a bit turned off myself when I first learned about it. I thought he turned into one of those fanatical evangelists who masquerade as messengers of God but only really want to con people into shelling out money for "miraculous healing items". But when I heard his reasons for doing something about his financial life and deciding to teach others how to save and invest, it actually made sense to me. After all, most of the things people have problems about and pray about is money. And hey, I believe in God and I think about money, so why shouldn't he? So having said that, I am now a convert. I am ready to be wealthy and I want others to be the same :)

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