Here's what happened.
On June 5th, my AR post was titled “I Wonder Why Realtors Drive a Lexus?” To date, the AR counter shows that 9,483 of you read it, and 231 of you commented.
Most of the 231 of you who commented defended your decision to drive a Lexus as being a Realtor's inalienable right.
You inferred that you would rather have a high car payment than drive a medium-priced car, even if it would allow you to bank the significant difference in the payments.
I contended that it might be an easy, but significant way to save for your retirement.
Most of you didn't want to hear much less consider that.
Twenty days passed, and then came a follow up post titled, “Do You Invest in Income Property?"
To date, the AR counter shows miserable reader interest.
Only 74 of you read it, and just one of you responded.
Is there a financial paradox here?
Is it that generallyRealtors don’t get excited about being able to invest in properties that they can buy, sell and trade without being exposed to the full commission; in otherwords, being able to buy at a market advantage?
Is it that generally Realtors don't trust the same expertise they sell to others?
Is one reason for owning an expensive automobile that doesn’t appreciate and that can’t earn its keep, that it seems to be the better option?
A recent independent study shouldn't surprise anyone.
It found that the average real estate agent who is 50 years old has a net worth of $40,000.
So if that agent accumulates double that amount by the time she reaches 65 -- say $80,000 -- and she lives to 85, she can use $941.00 of that each year before she depletes her net worth.
How do you compare?
Is it your plan to continue with the investment plan that helped you build, say, a $40,000 net worth? Or are you going to responsibly address the issue now?
(You can keep your answers a secret from the rest of us)
Is it that you don't have the self-discipline or the know how?
Fine, that's what I'm here to help you to do. Frankly, you're out of excuses.
WILLIAM S. CHERRY & NO COMPANY
America’s Financial Coach