Wealth is a worthy goal for everyone to achieve. It would give a lot of people peace of mind to know that they could stop working and money would continue to flow into there bank account. Work gives us all a since of accomplishment and something to get up for each and every morning, but at the same time it would not hurt to have money to flow your way when you are on vacation or when you are sick. Ask Yourself, If I stopped working today how long could I go without having to work another day? The funny thing is most people do not know the answer to this question
Wealth - As defined by Buckminster Fuller, it is the number of days you can survive without working, while still maintaining your same standard of living
I like being in Real Estate for so many reasons. One reason is because being a real estate agent is like starting your own business where you call all the shots. You decide how much money you want to make. The other reason I like Real Estate is because you are always exposed to great real estate deals. Buying Real Estate is a great way to generate extra Cash without having to work. It's called Cash Flow.
Cash Flow - Total Income - Total Debt = Cash flow / this can be either positive or negative. This does not include appreciation (thats a bonus)
There are a lot of real estate deals out there currently where you can create cash flow opportunities. I highly advise all agents to learn investment real estate and to also buy a few investment properties in there lifetime. It will help you understand what your investor clients want and also help you create wealth/cash flow.
The List - Here is something everyone should keep in their pocket to review every day. We are all forgetful beings
Work
1-2=3
•1. Current weekly income (Had to go to work for)
•2. current weekly debt (Current spending/Current life style)
•3. current weekly profit (Cash received that can be applied to saving/investing/spending)
Money should be reviewed weekly not monthly (what are you going to do to make more money this week?)
Wealth
Not Wealth - Total money invested in (Real Estate / Stocks/ Businesses/ Etc)
Wealth - Current weekly profits/cash flow/interest/etc earned by the money invested.
Wealth is not the money that you put into your businesses/real estate/ etc. It is the money earned from those ventures. That is the measure of your wealth. So look at your weekly profits from your businesses/real estate/ stocks/etc (where you didn't have to be there to work)
That is wealth!
How wealthy are you?
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