Changing the Race

Photo courtesy of:  webmastergrade.com

Photo courtesy of:  webmastergrade.com

I just returned from a vacation in the Caribbean where, in addition to indulging myself in buffets, drinks, sun, and sleep, I read "Retire Rich, Retire Young" by Robert Kiyosaki.  Although I don't subscribe to several of Kiyosaki's key ideas (my husband and I are debt-free and plan to stay that way, and I am aware of some of the controversies surrounding him), his admonition to build assets as a means to get out of the Rat Race struck a nerve with me. Even though my husband and I have been on the fast track to financial freedom for the last three years, I realized that we could achieve our personal and financial goals faster than we were initially imagining if we tightened our financial plan and changed some of our thinking.

In five years, our goal is to have enough passive income to replace most of my salary.  To create that passive income, we are going to purchase rental property (we already have one rental house) in addition to investing in mutual funds.  We think that six properties with rents averaging about $800/month after expenses will be enough to justify my exit from working a j-o-b if I want out.

This blog will chronicle our progress from my perspective and hopefully be a source of inspiration, how-tos, and discussion for visitors.