Recent events in Japan, including today’s news that radiation leaking from nuclear reactors might be more severe than thought, make us urban survivalists twitch inadvertently as our minds race back through preparations. Here’s the good news. We’re probably not all going to die from failed thyroids destroyed by the Japanese inability to keep their stuff in their own backyard. Want to know what you really could die from? Debt. And how do you keep from dying from debt? Financial independence.
Too many of us are living paycheck to paycheck, a few steps from personal insolvency at all times. We’ve been living on the financial edge for so long we’ve almost forgotten what it feels like to have an emergency fund in place. With this in mind, Holistic Survival thought it might be time to remind our readers of a simple process to get from the land to financial panic to the land of financial freedom.
1. Reduce your exposure to the stock market. We realize it’s not realistic to suggest everyone dump all the stocks, bonds, and mutual funds from their portfolio immediately, but start thinking about how to get out. This insider’s game benefits only those on the inside.
2. Educate yourself about income property investing. Our affiliate, Empowered Investor Network, is a great resource and shortcut for learning everything you need to know about income property investing.
3. Save for a down payment. This step might take awhile since lenders have been upping their down payment requirements into the 20 to 25 percent range. But with great foreclosure deals starting in the $50,000 range, that’s only $10,000 to $12,000 dollars to buy in. While you’re saving, keep studying.
4. Buy your first investment property based on the suggestions found at Empowered Investor. Don’t forget to join the network since it will get you first shot at the best deals headed to market.
5. Rinse and repeat. Cash flow, tax advantages, and appreciation make income producing properties the best investment asset on the planet. Instead of continuing to plow your funds into poor returns of the manipulated stock market, create real wealth that will withstand the coming economic storm through a portfolio of properties.
The Holistic Survival Team
Flickr / Wm Jas