The average income of a REALTOR is $45,000 which is less than the average income nation-wide. Even a successful REALTOR will make less than $100,000 a year and that's before paying all their expenses! Most agents do not have medical insurance, dental insurance, or any kind of a retirement account. It wouldn't take much to impact their livelihood if life takes a turn for the worse.
Are you prepared?
As you know, some agents work hard and make good money in this business but most of them treat it more like a hobby. Even the successful ones tend to forgo building long-term wealth. Suddenly they turn 65 and realize they can't continue enjoying their current way of life unless they continue working.
The most successful REALTOR I've ever personally met was in real estate for 35 years. Every time he had a big commission, he set money aside for investments while watching other agents buy a new car or take a cruise. He retired a couple years ago with a net worth of over $12,000,000 and his monthly rental income is over $40,000 a month. $40,000 a month! Needless to say, he will never have to worry about his future.
What do I do?
Real estate is historically the best investment you can make. There are three ways it pays:
Monthly cash flow
Appreciation
Deductions
better than any other investment option. It can provide steady income as well as long-term growth through appreciation. But it's a mistake to think you can just buy some houses and rent them out! Check out some resources like BiggerPockets.com or join a local REI (Real Estate Investors club) to start educating yourself while saving up for your first purchase.
Don't get stuck working until the day you die! Prepare for the future now by investing in real estate!
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