Are You a Consumer or Investor?

I was rereading parts of Gary Keller's book, The Millionaire Real Estate Investor (MREI) last night. What an incredible book.

What always strikes me is Gary's description of the Investor mindset and how it differs from the Consumer mindset. He says, "Do you work for money, or does money work for you?"

Obviously, we all have expenses and consume things, however, what principles and priorities guide our spending? The difference is in how an investor thinks, making short term sacrifices for long term gains. For example, buy a less expensive car and put that money toward investments. Cut back on lifestyle expenses so you can reinvest your cash flow.

As Dave Ramsy says with much gusto, "Live like no one else so that later you can LIVE like no one else!"

If you need some encouragement, you should get the MREI book and read pages 151-156 where Gary goes through a simple and very conservative investing strategy that shows how you can start small, but end up with a huge payoff if you can follow the plan.

The plan is the key. If you're thinking of investing, it's so important to know what you're doing. Otherwise you may fall prey to speculation and loose your shirt! However, don't be afraid to take steps and learn along the way. You too could enjoy a huge payoff down the road.

-Peter

www.NashvilleCityHomes.com