Priscilla H Carey
09-26-03, - 10:07 PM
A Bahamian man in his late thirties told me recently he describes growing up in three sets of twenty years each, “The first twenties you learn, the second twenties you earn and the third twenties you yearn.” An interesting phrase that caused us to laugh, but for which on a reflective note it also caused us to agree how very true its meaning can be.
The first twenty years of our lives we do find ourselves in a process of learning. From birth we learn how to receive our first nourishment, how to crawl and after how to stand and take our first steps, we amazed ourselves at how well we can walk. This learning process evolves into all areas of our development and our growing continues into our teen age years to young adults to our twentieth birth anniversary. We have learned we hope by then the first part of what’s shaping our lives into what is to be the next two decades.
Parents, close relatives, friends and school teachers have thus far influenced a good deal of our development. The next stage into our growing up finds us continuing to learn and soon we find ourselves with the real need to earn. From hereon our ability to earn will greatly be determined by the amount of learning we have achieved since birth, through parental guidance, schooling, through exposure to different circumstances. It somehow will involve too the amount of planning we may have done.
This ability of how-to-earn-it will determine how we’ll find ourselves in the next two decades and what we may or may not yearn for, in terms of what we think should have been done. In this sense the understanding of the simple principles of Real Estate Investment available to the majority of us; as sooner or later will face us to realize our basic need to own a home, is important and possible.
I like to think of Real Estate investing more in terms as how it relates to you, the person rather than as a mere material object. Humanly speaking how we add life to a house turning it into a home. As we grow up we don’t always plan ahead and visualize how to device a plan that will render a lifestyle we like.
Where ever you find yourself in the group of twenties more likely you will agree on the importance of planning. If you are in the first group, young and inexperience I’d encourage you to educate yourself, learn from textbooks and also from the wisdom of older people, pay attention to detail and practice the habit of saving money the amount at this stage in your life may not be as important; but do it.
If you belong in the second group of twenties, you may now have some textbook education but still need more experience. Your dreams are bigger than your wallet but you know you’ll succeed because you are still young, energetic and ambitious. Now is a good time to start paying closer attention to serious planning and serious work habits.
Explore how-to-implement the plan that will afford you a good life. Remember continue to practice the habit of saving money. During this stage is when you will want to start investing in your first piece, parcel, lot or home, otherwise known as real estate. You may not afford a large piece of property at this time; but its okay because this would only be your first.
If you belong to the third group of twenties, you are wiser, you are mature you know what’s all about; you hope. If you planned in your younger years, now you should look forward to your golden ones. If you did not plan you may find yourself yearning to be younger to start over.
Perhaps you have some savings or even own a piece of property but you must continue to work because retirement is not in your budget. I’d encourage you to continue to work but to make some changes, talk to people in the know-how financial advisers, bankers, real estate brokers, your pastor, your trusted family members and friends seeking ways to plan now with the vision to retire albeit later in life.
One way possible is to buy income producing property a duplex for example; you rent one side and live in the other. If you have access to a considerable amount of funds your duplex may become a fourplex or even an apartment complex generating income through rent. Living off your rent is not a bad proposition in the golden years. Wouldn’t you agree?
We will continue to explore the advantages of real estate investment on our next opportunity.
Priscilla Hudson-Carey
Assoc. Broker, MBA
Century 21 C. Investments Realtors
And a Christian writer
http://www.bahamahomes.com
http://www.cinvest.com
The first twenty years of our lives we do find ourselves in a process of learning. From birth we learn how to receive our first nourishment, how to crawl and after how to stand and take our first steps, we amazed ourselves at how well we can walk. This learning process evolves into all areas of our development and our growing continues into our teen age years to young adults to our twentieth birth anniversary. We have learned we hope by then the first part of what’s shaping our lives into what is to be the next two decades.
Parents, close relatives, friends and school teachers have thus far influenced a good deal of our development. The next stage into our growing up finds us continuing to learn and soon we find ourselves with the real need to earn. From hereon our ability to earn will greatly be determined by the amount of learning we have achieved since birth, through parental guidance, schooling, through exposure to different circumstances. It somehow will involve too the amount of planning we may have done.
This ability of how-to-earn-it will determine how we’ll find ourselves in the next two decades and what we may or may not yearn for, in terms of what we think should have been done. In this sense the understanding of the simple principles of Real Estate Investment available to the majority of us; as sooner or later will face us to realize our basic need to own a home, is important and possible.
I like to think of Real Estate investing more in terms as how it relates to you, the person rather than as a mere material object. Humanly speaking how we add life to a house turning it into a home. As we grow up we don’t always plan ahead and visualize how to device a plan that will render a lifestyle we like.
Where ever you find yourself in the group of twenties more likely you will agree on the importance of planning. If you are in the first group, young and inexperience I’d encourage you to educate yourself, learn from textbooks and also from the wisdom of older people, pay attention to detail and practice the habit of saving money the amount at this stage in your life may not be as important; but do it.
If you belong in the second group of twenties, you may now have some textbook education but still need more experience. Your dreams are bigger than your wallet but you know you’ll succeed because you are still young, energetic and ambitious. Now is a good time to start paying closer attention to serious planning and serious work habits.
Explore how-to-implement the plan that will afford you a good life. Remember continue to practice the habit of saving money. During this stage is when you will want to start investing in your first piece, parcel, lot or home, otherwise known as real estate. You may not afford a large piece of property at this time; but its okay because this would only be your first.
If you belong to the third group of twenties, you are wiser, you are mature you know what’s all about; you hope. If you planned in your younger years, now you should look forward to your golden ones. If you did not plan you may find yourself yearning to be younger to start over.
Perhaps you have some savings or even own a piece of property but you must continue to work because retirement is not in your budget. I’d encourage you to continue to work but to make some changes, talk to people in the know-how financial advisers, bankers, real estate brokers, your pastor, your trusted family members and friends seeking ways to plan now with the vision to retire albeit later in life.
One way possible is to buy income producing property a duplex for example; you rent one side and live in the other. If you have access to a considerable amount of funds your duplex may become a fourplex or even an apartment complex generating income through rent. Living off your rent is not a bad proposition in the golden years. Wouldn’t you agree?
We will continue to explore the advantages of real estate investment on our next opportunity.
Priscilla Hudson-Carey
Assoc. Broker, MBA
Century 21 C. Investments Realtors
And a Christian writer
http://www.bahamahomes.com
http://www.cinvest.com