5 Year Strategy for financial freedom
Everyone needs a strategy. That is unless you want to be sat at the same desk day after day until the day you retire to be handed a few hundred notes for the last 25 years of your life.
Let me give you an example of one of my strategies
- Use some equity gains from uk property to invest in a beachside property abroad in eastern europe for example. If required borrow enough so you can purchase property outright. ( Prices range from 40k to a around 80k or higher ) depending where you buy
- Stick to a 5 year plan to pay back funds (if any have been borrowed for overseas property)
- After 5 years your overseas property is paid off. You are a property owner and you arent over 70 so you can actually enjoy it.
- At this stage you have several options
- The property can continue to provide rental income and will also appreciate year by year
OR
- If your mortgage isnt too high and your rental income will provide (£300-£400) on top of the mortgage .
- Rent out UK property and use the additional profits to finance your living expenses abroad. Take a year off or a few years while you devise your next business plan
Its all about thinking outside the box to escape the rat race…
If you enjoyed this post, make sure you subscribe to my RSS feed!
