It begins
My name is Reese and I found Tim through the realestateinvestor.com site. I am very happy I was able to convince him to work with me.
I am 29 years old, unmarried, with a good job. I want to get married in the future, have a family and good retirement.
During my calls with Tim last week he gave me some homework. He asked me to sit down and detail my financial life. I have no consumer debt other than my car which I am making tripple payments on to get it paid off. I have a mortgage on my home. I have some savings in addition to a 401K and a rollover IRA from a previous employer. I am willing to accept risks I understand but don’t want to speculate. I want to invest in real estate but until I started talking to Tim it all felt kind of slimy. Most of what I read on forums and marketing sites seemed to all be telling the world how to creatively lie. Then I read some of what Tim writes. I was very happy to learn you can invest without being dishonest. I knew I had to find a way to work with him.
I have hired him as a coach and part of my payment is to blog here about my experience with the process and his methods. So far, I am very happy. I have contacted other coaches but this is the first time it really felt like a coaching experience I remember from highschool and college sports programs.
What do I expect? I expect him to help me maximize my talents and resources to be as successful as I am able to be. I know it is up to me. I know he isn’t going to do it for me. Based on what I’ve seen so far I also know if I follow his advice I can’t fail because I am not afraid of hard work.
My first semilong term goal is over the next twelve months to generate 50% of what I net from my work. My stretch goal is to equal it.
My biggest challenge? Making time to do what is needed. Tim has assured me we can find the time together and it isn’t a challenge at all but to me it feels like a challenge.
Welcome Reese!
Rest assured that Tim will do you no wrong. I’ve known Tim for quite awhile and have absolutely no reason not to trust him. I made him an administrator at my website. I’m just grateful that he accepted and has done well there.
Hubby and I plan to have Tim coach us in the very near future. Hopefully, schedule will allow Tim and us to get together personally in less than a month. You have no idea how much we look forward to seeing Tim.
Enjoy Tim’s wealth of knowledge. More importantly, enjoy his mentorship and friendship. He is a very good man.
I look forward to learning of your multiple end results with the hope of you posting periodically.
Debbie
Let the story and the journey begin. I will be sitting on the sidelines watching Reese so make it an interesting journey. Good luck and take advantage of the opportunity.
I have no real knowledge of Tim so I cannot speak as to his ability. I do know that just having someone to be there to check on your progress vs. your stated goals can make a dramatic difference.
A tiny tip and maybe not the right thing to do as I do not know the full picture. Some companies allow employees to take out loans against their 401K. If you can and if you can do so to pay off the car it might be better to pay yourself the interest even if you are making triple payments. Lots of variables to consider before taking action on this idea. I just wanted to make sure you know it could fit this or a similar situation in the future.
Good luck.
John
Taking a loan against your 401k is one of the dumbest things you can do. Study after study has shown a loan against your 401k gives you a minimum 20% hit in your asset growth over time. The younger you are, the bigger the hit and statistically the younger you are the more likely you are to take the loan.
It is a myth that you are paying yourself when you take out a loan against your 401k.