Both in their 30's, Greg and Nancy Taylor are taking the long-term strategy when it comes to looking at investments. Nancy worked in medical sales while Greg has been in medical device sales for 14 years now. Although fairly new to investing in real estate, they feel lucky to meet great people they can grow with, especially that they’re starting at a fairly young age.
Here’s what we talked about:
Nancy declining PA school for medical sales
Greg’s mindset on wealth creation
How they deal with risks as a couple
Their financial goals
Their Background in Medical Sales
Nancy's goal was to get into PA school. She did get an acceptance letter, but she ended up declining it to do medical sales. It was a decision she never regretted.
Since Greg was a young guy, he has always been focused on wealth creation. Growing up, money was always tight so he started working at a young age, shoveling snow, and doing all kinds of things young kids do just to have some money in their pockets. Seeing the restriction that money put on his parents, Greg saw the amount of freedom money can provide. And this was the kind of mindset he began to develop.
Like Nancy, Greg wanted to apply to medical school. Unfortunately, he ran out of money because applying to medical school is really expensive. It's a barrier that doesn't need to be there. But it's also a barrier that pushed them down a different road that has led them to a much better spot where they are now at.
Dealing with Risks as a Couple
Being able to talk about things to come to a better conclusion has really helped this couple in terms of taking risks. Greg is less risk-averse than Nancy. But at the end of the day, they have a good check and balance when it comes to their decision-making. The foundational piece of having the same goal is just finding the vehicle in order to get you to a place where you both want to go.
Their Financial Goals
From a 50,000-foot view, their goal is creating wealth, which ultimately creates freedom. They want to live a certain kind of lifestyle free from financial constraints and this is one of the reasons they're starting early. They're not trying to get rich quickly. Although there are opportunities to do that, they tend to focus more on the long-term play and letting money work for them over the course of their life.