Set up your own Financial Safety Net If you are trying to reach the wealth of the richest 1% in the world, it is important to have a plan to reach this goal.
Conventional knowledge doesn't explain how to get to earn the wealth and quality of life of the rich 1%.
Traditional schools around the world simply do not equip people with the skills necessary to achieve great wealth.
A mindset change brought about by understanding the system at hand is imperative.
The first mindset: don't work.
It may seem counter intuitive to people trying to get rich that 'not working' could possibly be construed as positive advice on how to get ahead in life.
However, temporarily suspend your disbelief and try to understand what I am attempting to convey, how to obtain the wealth of the 1% and set up your financial safety net.
Don't Work, Have people or systems do work for you...
People that have achieved great wealth do not work for their money, they know how to have people, systems, money and businesses do work for them instead.
They are able to leverage their efforts, time and money in ways which produce multiple streams of income.
Instead of relying on one job in which a person is only paid when they work (hourly wage) a set rate no matter how hard they work (a salary) a person is paid whether they work or not (a passive business).
When you are able to build up several passive income streams, only then will they able to generate enough cash flow to possibly become one of the richest 1%.
Or at the very least you will be able to enjoy the lifestyle of the rich one percent.
The next mindset change, after having others work for you, instead of working for an hourly wage or on salary for the benefit of someone else is the idea of purchasing assets and using liabilities.
To achieve the wealth of the rich 1%, you need to have others work for you, and you need to create assets while seeking to eliminate liabilities.
Assets can be best defined as something, which brings money into your life, and provides a positive cash flow.
A liability is something which takes money out of your or at least has the potential to do so.
The rich 1% are constantly looking to acquire new assets, and improve their cash flow by building passive income businesses.
Most of the world wants to buy material objects, and things that are not valuable, or immediately depreciate in value.
Conventional knowledge doesn't explain how to get to earn the wealth and quality of life of the rich 1%.
Traditional schools around the world simply do not equip people with the skills necessary to achieve great wealth.
A mindset change brought about by understanding the system at hand is imperative.
The first mindset: don't work.
It may seem counter intuitive to people trying to get rich that 'not working' could possibly be construed as positive advice on how to get ahead in life.
However, temporarily suspend your disbelief and try to understand what I am attempting to convey, how to obtain the wealth of the 1% and set up your financial safety net.
Don't Work, Have people or systems do work for you...
People that have achieved great wealth do not work for their money, they know how to have people, systems, money and businesses do work for them instead.
They are able to leverage their efforts, time and money in ways which produce multiple streams of income.
Instead of relying on one job in which a person is only paid when they work (hourly wage) a set rate no matter how hard they work (a salary) a person is paid whether they work or not (a passive business).
When you are able to build up several passive income streams, only then will they able to generate enough cash flow to possibly become one of the richest 1%.
Or at the very least you will be able to enjoy the lifestyle of the rich one percent.
The next mindset change, after having others work for you, instead of working for an hourly wage or on salary for the benefit of someone else is the idea of purchasing assets and using liabilities.
To achieve the wealth of the rich 1%, you need to have others work for you, and you need to create assets while seeking to eliminate liabilities.
Assets can be best defined as something, which brings money into your life, and provides a positive cash flow.
A liability is something which takes money out of your or at least has the potential to do so.
The rich 1% are constantly looking to acquire new assets, and improve their cash flow by building passive income businesses.
Most of the world wants to buy material objects, and things that are not valuable, or immediately depreciate in value.
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