The Buck Stops Here: Build your net worth – and self worth – today

By Sheila Gallagher

With a new year comes opportunities, resolutions, hopes ... and then we get busy with everyday life. It’s now the end of January and much of the inspiration that lived at the first of the year, is gone. But, does it have have to be?

As I discussed in my December blog, I’d like to give you a perspective on the first of seven decisions, which is based on the book, The Traveller’s Gift by Andy Andrews (yes, he has the same first and last name...).

The first decision for success is: The Buck Stops Here (based on the famous words by President Harry Truman). The author writes, “From this moment forward, I will accept responsibility for my past.  Neither my education nor lack of one, my genetics, or the circumstantial ebb and flow of everyday life will affect my future in a negative way. I am where I am today – mentally, physically, spiritually, emotionally, and financial – because of decisions I have made.”

As humbling as it can be to accept, I agree that we are where we are today – financially – because of our decisions. Did you know that the average sale price of a residential home in the Ottawa area was $327,225 in 2010 and $303,888 in 2009? That’s a difference of $23,337. The people that made the decision to own real estate last year made an average of $1944.75 every month. For those that didn’t, that opportunity is gone.  Every time a person tells me that they need to save more money for a down payment, I plead with them to meet with our mortgage specialist now. Today. Pronto.  Can you imagine trying to save $23,000 in one year?

One of my clients understood the value of owing real estate; she had rented for two years after a difficult separation. Until we met, she hadn’t realized the financial cost of her decision to rent; no one had shown her the numbers. Also, she thought she couldn’t afford it – that her circumstances pre-empted it. After meeting with our mortgage specialist with TD Canada Trust, and being surprised at how easy the process was, it wasn’t long before she was a homeowner and very grateful to be increasing her net worth every day.  

The decision to buy real estate – whether it’s for the first time, after a separation, or other challenging circumstances – is yours. The buck stops here.

Please contact me at 613-233-8606 to find out how easy the process is.

Women in Real Estate

Women in Real Estate – Build Your Net Worth – and Self Worth

by Sheila Gallagher

The reason I entered real estate is to help women invest in real estate – to build their net worth.

So much emphasis is placed on building self worth – primarily through spiritual and emotional growth – and too often those methods prove lacking and can end in disappointment.  What if you were to redirect your effort in the direction of building your net worth? Would it contribute to your self worth? I believe it would.

How do you feel when you receive payment in dollars for your time/effort? Do you feel empowered? Self sufficient? Joyful? I do.

A few months ago, I worked with a client whose husband left her for a younger woman – an all-too-frequent situation. After the divorce, she had a small balance in her bank account and was renting a one-bedroom apartment in a modest neighbourhood – a far cry from the half-million dollar home she and her husband shared. With an income of $54,000 and $25,000 from the divorce, she bought a condo that was priced below $200,000. In a few months, after the condo is reappraised, she will have enough equity to invest that money into another property.  She stands taller, smiles brighter, and sheds a more joyful presence.  

It’s about making the decision. Seven decisions for success are defined In Andy Andrews book, The Traveller’s Gift. In January 2011, we’ll look at one decision every two weeks. The first decision for success is based on Harry Truman’s famous quote, “The buck stops here.” And, it does. He writes, “I am where I am today – mentally, physically, spiritually, emotionally and financially because of decisions I have made.”

Whether you are educated, divorced or modestly-employed, money holds no prejudice. It can come to those who invest. This gift is available to everyone. Decide today.