I think it is extremely important for everyone to have tangible, big goals to aim for in their life. Mine are pretty lofty; creating generational wealth, leaving a legacy for my children, creating cash flow, etc. The specifics of my goals are:
- Creating a business that helps as many people as possible.
- Owning $1 Billion of real estate that cash flows over 12% a year.
- Having no debt except what others are paying for us.
- Having our entire family work together for our company.
- Give back through volunteering and philanthropic giving.
Why do I have such lofty goals? For starters, by owning a billion dollars worth of real estate, I can safely assume that I will have accomplished my goal of creating generational wealth. That is, wealth that will last long enough to perpetually ensure my descendants are taken care of forever. And hopefully our company will stay in family hands and my children, grandchildren, and on will continue to grow the portfolio to take care of the whole family forever.
Besides creating generational wealth, what else is the driving force behind these seemingly crazy goals? FREEDOM! To me, that is what true wealth is. The freedom to do what I want, when I want. While my children are young enough, I want to be able to drive them to school in the morning, or pick them up in the afternoon whenever I want to. I want to go to soccer games, dance recitals, and school plays without having to beg permission from a boss.
My wife and I both love traveling and we want to spend at least three months abroad every single year while our real business continues to throw off cash and appreciate for us. And I want to work with my wife and kids. I want my daughter to have an interest in what we’re doing, so we take her with us whenever possible to look at properties and talk to her about why we are building ToDoosy. I’m trying to instill in her the entrepreneurial drive.
I want my son to know that what the majority of what Americans do; get a job, work 40 years, wish you could own your own company, then retire too old to enjoy your freedom; isn’t the way to live. I want him to love the hunt for deals and creating money through entrepreneurship and real estate.
There is my “why”. I want the Rembert name to be synonymous with giving. And the payoff for that is more wealth than my family has ever seen or imagined up to this point, but wealth that will last forever.