Getting Rich in 2023
By: Jill DeWit
January 13, 2023
I love starting a new year and I am so excited for 2023. It’s not that 2023 is different from 2022, but we tend to set and measure our goals in years, so now is the perfect time to re-evaluate. Are you ready to get rich in 2023?
So, what is rich? For me, “rich” is much more about not working that hard than it is a specific number. I want the time to devote to the things that I want to do, the things I really enjoy, like travel, having fun, seeing, and meeting people and going on new adventures. I’ve always had the “I don’t want to work for a living” goal my entire life, not that I want to sit around and do nothing at all, I just don’t want to have to go to work if I don’t want to and out of all our companies, the one that demands the least of me is the land company.
There are four basic stages of wealth; in the first stage, your goal is to make or generate enough money to pay your bills, rent, buy food, etc., you’re making just enough to cover it. In stage two, you’re making enough to “get ahead” and you’re saving, even if it’s only $200 or $300 a month, you’re still able to put a little money away. In stage three, you don’t have any debt and you’ve paid off your mortgage that typically accounts for 25-30% of your after-tax income, which is a ton. Now you can really work on step four, which is where all of us in Land Academy strive to be… creating some serious wealth.
One of the many great things about this business model is that you can work as little or as much as you want. We recently had this discussion during one of our Career Path 05 sessions. A lot of our members are saying they did somewhere around 10 deals this past year and netted around $80k on each deal, giving them a comfortable $800k without having to do a whole lot of work, and to me, that’s wealthy. But, again, that’s the nice thing about land investing, within our group we have all levels, it really depends on what you want, what your goals are personally. How hard you want to work, how much you want to work, what dollar amount you are comfortable with, that’s all for you to decide. Some of our members are coasting, averaging maybe a deal a month and making close to $100k each month, and they are happy with that. They realize they could probably double the workload and double the money, but they don’t want to and that is ok. We have other members that are like, “no, I’m going big, get out of my way!” They’re doing around 10 deals a month, making $30k per deal.
So, like I said, January is the perfect time to really re-evaluate your goals for the year. What do you want your average month to look like? What are you spending your time on? How much money are you spending on resources? There are two things that you must do, have an organized business plan in place and send mail. Without these two essential things, you aren’t going to get very far in the land business. Even the best business plans will require a little tweaking throughout the year so don’t be afraid to check yourself often and change things up depending on certain variables such as the economy or personal preference.
Whatever your definition of “rich” is, I hope you get there in 2023!