I am 25 with 2 beautiful girls and an equally beautiful wife, but I also have a passion to be a top agent in my local board....Is it possible to have both a strong family life as well as a thriving RE business?
I am currently number 1 in my office and in the top 7% of all agents in my board, but I want to be number one there too. I am struggling with many things right now and one of them is, how much time to I spend with my family and how much time to I spend working? Both are important, but only one is replacable.
I am looking to grow my business to a level that once I thought was out of reach, and now is feasable, but at what cost? I hope whoever reads this doesn't think that I am a jerk that neglects his family...that is quite the opposite. I am home often so that my wife can continue her education (M.D) and dreams, so I am spending time, during the day, with my kids.
I need some advice on how to hire an assitant. I have had some great advice already, but I thought I would open this up to a larger group of people. I thought the rain would be perfect place to pose this question. Also, Any other suggestions to help me would be appreciated too.
Thank you in advance.
Matt Hodges
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It is possible to have whatever you want to have. Here's the secret:
You are 25. Decide what you want to have by the time you retire at, say, 65. That makes it a 40-year plan. It can be very general, but let's say that you simply want one million dollars in your bank account. That's it. Real simple for this purpose.
One million dollars divided by 40 years is only $25,000 a year. So you have to figure out how to save $25,000 a year. We're not even going to do interest or anything like that. Let's say that $25,000 is one-third of your gross income. So you need to earn $75,000 each year for 40 years.
Can your family of four live rather comfortably on $75,000 annually in Traverse City, Michigan? I would submit yes.
So you've just broken your 40-year plan into 40 12-month periods.
What do you have to do each month to earn $6,250?
What do you have to do each week to earn $1,442.31?
What do you have to do each day to earn $205.48?
Now go do it.
It doesn't matter what you want to do, just break it down into what you want or need to accomplish each day and then do it persistently and consistently. Persistency and consistency is the key.
If you want to take weekends off, and one month vacation each year, simply adjust your plan accordingly.
If you want more money, simply adjust your plan accordingly.
Set it up in Excel and then you can use formulas to link everything, create pie charts and line graphs, and have a visual idea of where you are going and where you are now. It's fun to watch yourself get there.