In these current times of economic and financial uncertainty, many people find themselves wondering how to best invest their money going forward. We’re constantly barraged by pitches left and right, from those pushing gold and silver and other precious metals to those saying that the stock market can only continue to climb.
With the stock market going up and down like a rollercoaster at Disneyland and bank accounts not even paying 1%, it’s not surprising that people are looking for smarter ways to grow their family financial portfolio.
Through all of this, there’s real estate. Now I’m not here to say that investing in real estate is right for you. I don’t know your specific situation, means of investing or short or long-term objectives. Without knowing any of this, it would be both unprofessional and realistic to suggest you invest in Hawaii real estate.
However, it’s safe to say that investing in real estate has proven to be one of the greatest ways to create wealth generation after generation. So why don’t more people do it? I think it comes down to two primary reasons: 1) unwillingness to break out of their comfort zone, and/or 2) not knowing how to invest in real estate wisely.
The first answer is something that’s actually bothered me on a personal level for a while. People generally need to be PUSHED to do something beyond their comfort level. And what’s our comfort level when it comes to investing? Stocks, bonds and mutual funds – because for most of us, that’s all we’re exposed to growing up. I’m not saying these are bad (well, kind of), but for most people, that’s the only type of investment option they were even exposed to growing up.
Think about the financial education — or lack of it — we got in high school or college before being launched into the working world to start building your financial portfolio. Pretty bleak or even nonexistent, right? Our education system is not currently designed to promote entrepreneurship or thinking ‘outside the box’. But in the cases when people finally do make the decision to invest in real estate as opposed to trying to ride out the rollercoaster stock market, they often don’t know how to get started. And that brings us to….
In the next post, I’ll talk about actually HOW TO CREATE WEALTH IN HAWAII REAL ESTATE the WISE WAY, so stay tuned!