I think perhaps more importantly, I took stock of my portfolio. Although I was aware of the situation, I am now thinking I have to change the negative gearing situation. Yeah, sure, the capital is increasing and I'm "silently" making money, but my cash flow is taking a major hit. With interest rate rises almost a certainty (although we have heard that before), a few more hits to the cash bottom line, and things will get very interesting very quickly.
As such, I am looking to sell, and I am looking at offloading the poor performers, or, as I am increasingly noticing, my non-performers. I have two blocks of land, sitting idol, doing nothing, growing very slowly, but not making any major headway and definitely doing nothing for cash flow.
The situation has also opened my eye to doing things differently. Being a wage earner is fine, but it's not the way things should be. I absolutely love my day job, but it has strings attached...I HAVE to be there, I drive 25 minutes each way every day, I put in a few hours more than I really should. With a business, I can employ someone to be there, to do the work. With a business, I can look at data and make a difference to operations with cash benefits, at my job, there is no such thing. So, taking the Rich Dad, Poor Dad approach, I am going to start something new, something risky, but more importantly, something that will result in some learning.
Ciao for now...
1 comment:
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