Setting Financial Goals for 2020: What Property Investors Need to Know | Ep. 127

In this episode, we discuss how to set financial goals in 2020. We outline a 5-step process:

• What – figure out what you want to achieve
• When – decide when you want to achieve it by
• How Much – calculate how much that goal is going to cost
• Remind – set up reminders of your goals that you'll see frequently
• Get Accountable – tell a friend about your goal to make sure you're accountable to it

An example of this would be:

• What – Send my two toddlers to private high schools
• When – In 10 years once they both turn 13
• How Much – $305,000 for 10 years of education, accounting for inflation
• Remind – Put a cut out of the high school's newspaper ad on the fridge at home
• Get Accountable – Tell your partner or siblings that that's what you want to do.

We walk through this exact example within this episode and show how property investment can be the right tool to achieve your financial goals. We also go over that property investment is not the only tool you can use and property is not the right tool for every financial goal. 

Finally, we also discuss mortgages and our new Epic Guide to Mortgages. This is a 9-500-word guide that you can read to learn both how to get a mortgage and then pay it off faster.