A client of mine who had just broken six figures the year before and was on track to do multiple six figures the coming year was considering buying a house with a high mortgage, but was facing some fear about what would happen if her income didn’t continue. “What if it all goes away?” she asked.
She knew she shouldn’t be thinking that her success wouldn’t continue, but she also wanted to make a prudent financial decision.
I related to her question, remembering my own rapid growth from $100K to the multimillions. At the time we were living in a $600 a month house in Tucson, and I was asking myself similar questions: When do I know if I can afford a nanny? How do I know if I can move to La Jolla? What if I’m a one-hit wonder?
Well, we did move to La Jolla, and, for the first year, rented a house in the neighborhood we wanted to live in, paying a very high rent, so that I could see how it felt to spend and live at that level.
It soon became very natural; and at the end of the year, we bought a house and never looked back.
Now, obviously, you have to be responsible to your financial situation, but if you cower to your fear, you’ll never grow.
So maybe there’s a way to find a safer middle ground for a while like I did. See how it feels. Prove to yourself that you can do it.
[bctt tweet=”Prove to yourself that you can do it.”]
The other important piece of the puzzle is to do what you can to continue your growth. We have many ways to help you do that!