Читать книгу Buy Now - Lloyd Edge - Страница 27

By the time I was 30 I had what I thought was a secure teaching job at an excellent school. I had a regular income and owned my own home — I was set, or so I thought.

Then, in 2007–2008, around about the time of global financial crisis, country after country around the globe was plunged into recession. A few people got laid off at my place of work, and I realised that, for most of us, job security is a bit of a myth. I thought, I really need to start investing.

I worked out that I needed to create multiple sources of income. I needed a vehicle that provided a good ongoing cashflow rather than relying on a job that might or might not exist in the uncertain future.

My Rockdale home didn't build much equity for the first few years, as I'd bought it at the wrong time in the cycle, just after the boom of the Sydney 2000 Olympic Games when Sydney property prices were in decline. So it hadn't increased a lot in value, but after three or four years it was at least heading in the right direction. And I realised that property was a good vehicle for me because it was less volatile than investments like shares.