Why You Need a Team to Build Generational Wealth

Are you a Property Investor wanting to create a level of financial independence?

Isn’t that the aim of every property investor, you well may ask?

Surely all investors dream of the day they can give up their day job and live off their property portfolio.

I would suggest for 98% on Investors, this would be the case.

Mainly because they have a finish line…… Goal Achieved!

But for a higher level of investor, the remaining 2%, it is just the beginning.

There is no finish line, they are focussed on a level of sustainable, longer term wealth.

Not just for them, but for the generations to come.

Here are my thoughts;

Setting a Finish Line

In my experience, the majority of investors I speak with do not set their sights high enough or long enough.

They set their goals too low as they feel it would be achievable over a reasonable time frame.

I am amazed at clients I see that are still more than 15-20 years away from retirement and their goal is to have a passive income of anywhere from $50,000 – $100,000.

My biggest fear for these investors is not that they miss their goal, but rather they reach it.

It is also usually a very superficial type of goal and involves very little detail.

They want to make millions with little to no effort and it is why 98% of investors never create enough wealth for either themselves or their family.

They tend to be more self-focussed type of goals.

What if we dug a little deeper…

Create Generational Wealth

What if you took a holistic, longer term approach to creating wealth?

It would mean not just focussing on the next 10 – 20 years, but well beyond that, potentially to another generation.

Shifting your focus longer term and away from yourself, is a totally different way to invest and it is what the 2% of wealthy and successful investors focus on.

Sure, there needs to be a checkpoint along the way, to ensure your own financial goals are met, but it is not the finish line.

You need to build something more substantial, that can create lifelong, generation wealth.

This strategy requires a greater level of detail, you need to go deeper and set things up accordingly.

Step back and treat it like a business with a documented strategy, not just a hobby where you hope for the best.

It Will Take a Team

Creating generational wealth will require a team, not an individual.

I like to use the analogy of a Rally Car driver and their team.

Sure, they are the driver, but they have a Navigator right beside them so that they can do what they do best and drive.

The Navigator keeps them on track and keeps an eye on the bigger picture.

Then there is the mechanic and pit crew that keeps the vehicle fuelled and in running order along the way.

Let’s look at how it works with Investment….

You are the Driver of your life, like the driver is of the rally car and need to make the final decisions.

But you will need someone to keep you on the right track, to see your blind spots and get you to the finish line faster.

I see the Navigator, potentially as an experienced Property Mentor or Strategist

Then we get to the pit crew and a few important team members are

Finance Strategist will keep your portfolio fuelled.

While banks and brokers often focus on the best rate or deal, a finance strategist ensures your business is set up and structured properly and has buffers in place.

Accountant could be like the mechanic and can put the right structures in place.

This is vitally important if you want to protect and pass on your wealth to the next generation to avoid tax and legal issues.

Summary

While most investors like to dream about a finish line, a tiny percentage look beyond that.

They are looking to create lifelong, generational wealth.

They recognise that although they are the driver, they will need a team of experts in their chosen profession.

This will allow them to focus on what they are doing and allow the experts to keep them moving forward as quickly and efficiently as possible.

But rather than reaching a destination, they are looking to create lifelong wealth that they can enjoy and set up their family with.

Planting a seed today, so that future generations may prosper.

That is why you should shift your focus to lifelong generational wealth.

Now is the time to take action and set yourself for the opportunities that will present themselves as the market moves on

If you’re wondering what will happen to property in 2020–2021 you are not alone.

You can trust the team at Metropole to provide you with direction, guidance and results.

In challenging times like we are currently experiencing you need an advisor who takes a holistic approach to your wealth creation and that’s what you exactly what you get from the multi award winning team at Metropole.

If you’re looking at buying your next home or investment property here’s 4 ways we can help you:

1. Strategic property advice. – Allow us to build a Strategic Property Plan for you and your family.  Planning is bringing the future into the present so you can do something about it now!  This will give you direction, results and more certainty. Click here to learn more
2. Buyer’s agency – As Australia’s most trusted buyers’ agents we’ve been involved in over $3Billion worth of transactions creating wealth for our clients and we can do the same for you. Our on the ground teams in Melbourne, Sydney and Brisbane bring you years of experience and perspective – that’s something money just can’t buy. We’ll help you find your next home or an investment grade property.  Click here to learn how we can help you.
3. Wealth Advisory – We can provide you with strategic tailored financial planning and wealth advice. Click here to learn more about we can help you.
4. Property Management – Our stress free property management services help you maximise your property returns. Click here to find out why our clients enjoy a vacancy rate considerably below the market average, our tenants stay an average of 3 years and our properties lease 10 days faster than the market average.

from Property UpdateProperty Update https://propertyupdate.com.au/why-you-need-a-team-to-build-generational-wealth/