1. krantcents says:

    I make my savings automatic! It keeps me on track and provides some discipline to saving and investing too. I used to own income property and it is a great way to accumulate wealth, but it is a business and requires those skills.

  2. Jim says:

    Well said Krant, people say that real estate is passive income, but I believe it to be as passive as building and running a website. We know that is not ‘passive’!

  3. LOVE the idea of a forced savings plan, especially through rental properties! The only reason we have any retirement at all, in spite of our terrible money habits in the first 16+ years of our marriage, is because we had forced retirement savings. It’s going to be the thing that saves our tails since we’re late in being fiscally responsible in other ways.

    • Jim says:

      Yep, I think it is truly the only reason I have any IRA money. I had a 401k with a previous job and I was religious with contributing to it. If I didn’t have that I would have very little saved for retirement. Now I view rental property as a means to retirement, since I no longer have a 401k

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