Getting Distracted with Other Investment Opportunities

[Purple Property]

I own one rental in Auckland. It will be a few years until I can afford to buy another rental property so I'm just paying back mortgages with any savings I have from my wages.

However, I seem to get distracted to try and speed up the process. I'm only paying 4% odd interest rates and by paying back the debt in essence and therefore only earning that return on my money by paying it back.

I've tried shares in the past but that hasn't gone so well. My long term goal is just to have several rental properties to help fund an early retirement but I keep getting distracted as paying back the debt seems like I could be making my money work harder to speed up my early retirement plans.

How to I have myself be content with paying back mortgages and not get distracted?

[Don't believe the Hype]

Get clear on your end goal... Stay focused on that.

There will always be distractions along the way and options that may seem better but if you have a clear plan with stated goals, milestones and timeframe and investment criteria, any time you see an opportunity - compare it to the investment criteria and how the option fits in with your end goal. If it doesn't meet the criteria or fit in with your end goal let the 'opportunity' slide.

the long game requires patience and discipline but if you have it right is worth the wait!

[Wayne]

remember that the 4% is effectively 6% pre-tax.
So not too bad in todays environment.