What do you WANT to do?

[jeeper]

Building enough passive income (through real estate) to allow me NOT to work, and spend my days with my family.. I think 100K/year passive, with no personal mortgage/debt will be enough. Once that point is reached, I will provide a secure future for my children (set them up with financial reserves they don't know about)

I see this being accomplished in about 15-20 years.

Once I know my family is secure, I will use my time and talents to create more wealth, and then find really awesome ways to give it away and make other peoples life's better.

I am sure the wife an I will spend countless time exploring the back country. I imagine we will do some church mission service (like church camp hosts, or disaster relief..)

 

[ID Bronco]

I'd love to do what I love...

Crawling or offroad racing would be great obviously. Other than that I'm just keeping my head down, working and developing new business ideas that I hope to start one day. Some ideas are pretty good and could actually happen.

Remember the time is never "right" or "perfect" to start a business. Get a plan and go for it.

 

[blznnp]

I would love to work for GM developing cars, or be a race car driver. I am in school for Mechanical Engineering right now and I wish I would have done it right out of high school instead of waiting till I have 4 kids. I am looking into franchises right now and waiting to hear back from one. I have also always enjoyed working on houses so I wouldn't mind doing some house flips on the side. Ideally I want to own my own business, lots of stuff I enjoy doing but need to find the one that will stand out and really enjoy doing while taking care of the family.

 

[Kevin B.]

Building enough passive income (through real estate) to allow me NOT to work, and spend my days with my family.. I think 100K/year passive, with no personal mortgage/debt will be enough. Once that point is reached, I will provide a secure future for my children (set them up with financial reserves they don't know about)

I see this being accomplished in about 15-20 years.

Once I know my family is secure, I will use my time and talents to create more wealth, and then find really awesome ways to give it away and make other peoples life's better.

I am sure the wife an I will spend countless time exploring the back country. I imagine we will do some church mission service (like church camp hosts, or disaster relief..)

I'm told that realestate income is never "passive", not if you actually want to turn a profit. Do you investment property now? What's your take on that?

 

[jeeper]

I'm told that realestate income is never "passive", not if you actually want to turn a profit. Do you investment property now? What's your take on that?

There may be some truth to that... but only some. It may not be truly 'passive' as you have to collect, repair, maintain, rent, etc.. But if it were 100% passive the returns would not be as good..

I currently have 5 rentals. It has taken about 6 years for us to finally feel like it is making a difference.. but the difference is starting to snow ball in our favor. I have mortgages on each of the properties, but receive about $1000/month after all bills are paid. I dropped $3000 on carpet and cabinets this week.. and will spend the next week redoing a condo.. but it's going to increase in rent, and increase my income about $100/moth for the next 10+ years ($12k income increase) additionally, rents are always going up.. even when home values go down.

I only know real estate, so it's about the only retirement option I have.. But I am a big believer in it.

 

[cruiseroutfit]

Hmmm, now that is a loaded question.

 

[Skylinerider]

Hmmm, now that is a loaded question.

Space Cowboy?

 

[frieed]

I'm tempted to go back to school for Geology. Not for a degree but rather to better understand the landscape around us.

 

[ozzy702]

I want to be a director/manager of a small IT department. Working in that direction now but have more schooling ahead of me that I'll probably start back in on in 2016. We have our 3rd child due in June and with three under three I'm sure things will be pretty crazy for a bit.

Once I've made enough money off of the IT gig I'd like to start buying properties, fixing them up and turning them into rentals. In the long run they pay off although it's usually break even overall for the first 5-10 years.

My biggest dream would be for my wife to realize hers, go back to school and eventually be a nurse midwife since that's her passion.

 

[blznnp]

I want to be a director/manager of a small IT department. Working in that direction now but have more schooling ahead of me that I'll probably start back in on in 2016. We have our 3rd child due in June and with three under three I'm sure things will be pretty crazy for a bit.

Once I've made enough money off of the IT gig I'd like to start buying properties, fixing them up and turning them into rentals. In the long run they pay off although it's usually break even overall for the first 5-10 years.

My biggest dream would be for my wife to realize hers, go back to school and eventually be a nurse midwife since that's her passion.

Its tough with school and kids, I have 4, 1 year-6 years old, makes it tough for me with home work and studying and trying to stay away from sickness.