Wealth Building – Which one of these are you ?
a) You Are Fed up of your job?
b) You Love your Job?
It really doesn’t matter, either way you need to be Building Your Wealth.
It gives you choices for later on. If you don’t build your wealth, you may love your job now, but what if that changes, what if you get made redundant, what if a robot takes it over, what if it gets outsourced overseas?
There are many reasons to build your wealth. Creating a choice is one of them.
But it takes sacrifices to do it.
Going out for a meal? eat in.
Going to the cinema? read the book instead or hire a video.
Buy an expensive car to make you look good and feel better about the job you hate ? Suck it up and buy a piece of junk (My car in the UK is probably worth about £600 – a 2003 Mazda 6 Estate – I love it!).
Save all that money in the monthly fee’s and not lose out to depreciation – just buy a piece of junk and put ALL of that money you just saved into an income producing asset.
Don’t tell me you need tens of thousands of pounds to invest in property when only last week I saw a lease option that costs £2k and generates £300 a month profit – it’s accessible to everyone.
Save your money, put it into assets that create cashflow, and then turn that cashflow into more assets.
Right now, you can buy a house for £50k and get £400 a month rent. A £50k house will cost £12,500 in a deposit (assuming a 25% deposit) – so if you want the traditional route, you can stil buy.
Can’t find the £12,500 deposit ?
Do you know 12 people that may lend you £1,000 each ? You can give them a 5% per year return, twice or 3 times as much as the banks right now.
You see, it’s not a lack of resources. It’s a lack of resourcefulness.
Rich Dad Poor Dad got it right – buy assets that puts cash in your pocket.
When you do that, do it again and again and again until you’re pig sick of doing it – by that time it won’t even matter, you’ll be earning more money each month and you’ll either begin to wonder where it’s all coming from, or you’ll be buying bigger and bigger assets.
I know it’s hard, as i’ve already had these things, but the Porsches and Ferraris aren’t important. Trust me on this. Waking up each morning with the sun shining outside your Villa in Spain with not a worry about money – thats whats important, to me at least. Especially the waking up and choosing to help somebody else get what I’ve got. I love my lifestyle and the freedom it provides to helping others.
Everything else is just for show, to prove in someway that ‘you’re worthy‘ to those people that see you.
As Will Smith said, “buying stuff you don;t need to impress people you don’t know”
You’re worthy already – you just need to prove it to yourself, so start by buying assets that generate cash and then buy some more.
It’s fairly black and white – do this and you will be wealthy.
Don’t do it and you’ll have to work everyday for the rest of your life.
Given a choice, I know which one I would do again.
Being in property isnt easy of course. You have tenants to deal with, and sometimes they behave like children, throwing their dummies out if their not ‘satisfied’ in some way.
Sometimes they’re like thugs, threatening to kick your head in.
Sometimes they’re lovely.
But everytime I meet an undesirable tenant in one of my properties, i’m reminded that this person who isn’t very nice is paying for my lifestyle that has taken me 16 years of buying assets one after another.
I’ve bought property based on cashflow, quirkiness, ego. Cashflow is the only one that’s important here, along with not buying too cheaply to avoid the idiotic tenants with very low values.
With that in mind, I now only have one person on benefits, as thats not the market place I want to deal with anymore. So I CHOSE not to deal with them.
My choice, no-one elses. And thats what buying assets that generates cashflow give you. A choice.
With that in mind, and if you want to learn more about how assets generate cash, then I have a 2 day VIP Platinum Coaching Weekend coming up in September.
You can find out more information here :