Summary
In this episode, Lance shares his journey towards financial independence, detailing his diverse income sources and investment strategies. He has a net worth of $2.1 million mostly in real estate and the market. He discusses his experiences with real estate, the challenges of living in a high-cost area like Hawaii, and the importance of discipline and planning in achieving financial goals. Lance reflects on his lifestyle choices, the impact of location on his financial decisions, and his future aspirations as he navigates life in his early 50s.
Lance shares insights into his financial journey, work-life balance, and the importance of lifelong learning. He discusses his enjoyment of work, the significance of hobbies, and the lessons learned from childhood about hard work and dedication. Lance reflects on his experiences in the trucking industry, his competitive spirit in jiu-jitsu, and the financial decisions that have shaped his life. He emphasizes the need for balance between saving for the future and enjoying life today, while also highlighting the value of continuous learning in all aspects of life.
Takeaways
*Lance has a net worth of approximately $2.1 million.
*His investments are primarily in traditional and conservative assets.
*He acquired rental properties through strategic planning and hard work.
*Lance believes in leveraging debt for investment purposes.
*He emphasizes the importance of discipline in financial planning.
*Living in Hawaii presents unique financial challenges but also opportunities.
*Lance's lifestyle allows him to enjoy the beauty of Hawaii without the need for frequent vacations.
*He started investing in his mid-30s after being inspired by financial literature.
*Lance's journey into real estate began with properties in disrepair that he renovated.
*He continues to set new financial goals as he progresses in his journey. I'm still in the accumulation stage of my financial journey.
*I wake up every morning, I go to the gym.
*I don't know what retirement would look like.
*I've been in logistics and trucking my whole life.
*I try to compete about six times a year.
*The trip to Colombia was $25,000.
*I probably spent 10 to $20,000 on comic books.
*If you have work ethic, there's no telling what you can accomplish.
*Life is happening today, find balance.
*Never think that you've learned everything you need to learn.