Mark J. Podolsky (the "Land Geek") offers short financial advice about how to handle increased income from land investments. Using a Breaking Bad quote as an entry point, he warns against immediate lifestyle inflation (bigger house/car) and recommends adjusting lifestyle slowly, saving for experiences and education, and avoiding purchases that don't add long-term happiness; he also promotes a free "Passive Income Blueprint".
Hey, it's Mark Podolski, the lane Geek from thelanegeek.com let's have a virtual cup of coffee together. Just a shot of espresso this morning. Keeping things a little light. So there's this great show that I love. I'm sure you've heard of it. It just finished Breaking Bad. And in season four of Breaking Bad, this meth king, Gus has a great line that's always sort of stuck with me. And he's talk to Walter White, the main character, whom is on his way up to becoming the new meth king. And he's at dinner with Gus and Gus looks at him and says, anyone can be poor, but you have to learn to be rich. And it kind of struck a chord with me because it's true, it's easy to be poor. Anyone can be poor. There takes no training involved. But once you start buying property, pennies on the dollar with my investors toolkit, and you start bringing in a lot of money and you start bringing in all this passive income. Well, the biggest mistake I see people make is they upgrade their lifestyle right away. They buy a bigger house, they get a bigger car. Next thing you know, they're in the same spot they were when they were in the beginning. They just had more stuff. So they're back in debt, they're back living month to month with a lot more pressure to keep making more money to pay for the bigger house and the bigger car. It doesn't make them any happier. So to learn to be rich, to be really rich, we want to take that money and we want to do things that are going to provide us with long term happiness. Because a week from now, if you get a new car, you're going to be used to the car. It's not going to be that big a deal in a month, you're going to be used to the bigger house. So the best advice I can give you is once you start bringing in all this money, adjust your lifestyle as slowly as possible. Keep your lifestyle just like it is right now and go on some vacations, put money away for the kids, education, don't start spending on stuff that's not going to have any long term impact on your happiness. It's great advice. And if you're in a situation right now where money is stressful, money's tight, you're in debt and you just think more money is going to solve the problem. It will solve the problem if you don't make too big a jump. Okay, so that's going to be my tip. Of the day. If you want to learn more tips, tricks, techniques, download the Passive income blueprint@thelanegeek.com it's free. Subscribe to these Coffee Talk videos, Check out the podcast, click the link above and subscribe. Anyways, this is Mark Podolski, the Land Geek. Thanks for having a cup of coffee with me. I'll see you next time.
How to find funding partners: How to Scale Land Without Using Your Own Capital
