Learn why the rich focus on Assets vs Money...
The Wealth Archive 101
“The most important thing you will ever need to know about becoming wealthy is...Cash Flow Is King.”
Which is why the rich don't focus on acquiring money. It's not about saving money although its useful in most cases to have money saved more for phycological reasons more than anything else.
Cash Flow Is King
So many of us focus on getting a good job, and saving and investing for retirement. We think if we do these things, we are on the right path and are officially a well adjusted adult. We don't consider that we are in reality placing all of our eggs in the basket of someone else and essentially allowing them to control our future.
Jobs are one very unimaginative way to generate income, but with few exceptions it isn't a secure way. No matter how much you may believe your employer loves you or how many years you have dedicated of service, for numerous reasons you could find yourself unexpectedly unemployed. Which most Americans think is equivalent to being diagnosed with Cancer.
In some cases it can be the best thing that happened to you, because so many of our lives revolve around our jobs to the point that we don't know what life is, like when we aren't working to live.
It's a new concept for so many, and our parents and grandparents who typically aren't wealthy may even make you feel like some form of failure for not doing a honest days work until you die.
If that is what you want out of life, you can stop reading now. This isn't for you. However if you want money to work for you until you die vs the other way around and want to have the time and freedom to create a wonderful life for yourself that isn't completely centered around a job or series of jobs you hate than keep reading.
The goal isn't to save money just in case something terrible happens ie: you lose your job, car breaks, someone falls ill etc. It's to make money in your sleep and every waking moment of your life, so that money just is not ever an issue or concern for you. Regardless of whether you go to work at a job you love or hate, whether the company goes out of business or thrives, whether the stock market does well or crashes, whether it's sunny or a blizzard outside you are still making money. No matter what! That is the goal.
Many of you reading this may believe that what I described just isn't possible. Or maybe just not for you, only people like Oprah. Many of you have heard that your average millionaire has seven streams of income; do you think they have seven jobs? There are only so many hours in a day, you can only work so much without literally killing yourself. If your physical action has to be responsible for generating all of your income, it will be very difficult to become wealthy. I'm sure you know someone now or have that has two or three jobs, generally this person was not the rich one in the group. Think about how many people work like this until they die or are too sick to continue or hell just think about all those poor seniors at Walmart greeting you when you walk in. That's YOU in twenty-fifty years without intervention.
When you look at money in this new light, you realize beyond a certain point saving is for poor people who are focused solely on insulating themselves for a rainy day. The Wealthy aren't worried about the rainy day, because they know that the money will continue to flow regardless. There are several ways to accomplish this: Income generating assets are ideal; for example; Real-estate, insurance residuals another but cashflow businesses are my favorite option. Businesses that are assets cash flow intensive and generate basically automated income for you. They usually have the potential to generate more consistent and higher returns than real-estate or any others in the short term.
Within this model, you don't have to focus on saving for retirement as your primary planned source of income for your latter years of life, because you will have money working for you now and later. To clarify this business does not need to be the passion of your soul, but it can fund whatever that is. This business is simply a cash flow machine allowing you to spend very little time and energy on it and much more with your family (assuming you like them and would want to do that). If you don't like your family or just have bigger dreams, want to travel or anything else money and freedom makes possible; this is the pathway to achieving it.
It is our fundamental belief that we were not put on this planet to work to live. Yet 99% of us spend our entire lives doing just that. We don't know who we are without the framework of our chosen or fallen into professions.
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