5 Strategies to Turn Low Pay Into Wealth and Abundance
Introduction Of 5 Strategies to Turn Low Pay Into Wealth and Abundance
5 Strategies to Turn Low Pay Into Wealth and Abundance. What more important more financial the first thing is to be clear about the difference between making a living and creating financial peace when for decades at the end of the year I used to say this year went well because I made so much money now.
A Person Who Grows Healthy And Solidly His Wealth
I realize how wrong I was. In reality, what I do know is how much my equity grew this year how much my passive income grew this year because my focus is first on creating passion income and creating equity as much as possible without debt in that order now for me the vision in that mentality It is long-term.
The first thing is to have a long-term vision of a person who grows healthy and solidly his wealth and who achieves wealth and here I want to talk a little bit of what it is to be a millionaire that is a bit unpleasant sincerely a multimillionaire for whom I knew now as a doctor, the boy is 33 years old and that of 100 million active truths and he will have 400 million in three years and he is fighting for that.
Business all the money in the world but for each person financial freedom means something different for one it can mean 500 dollars a month it does not matter that is what it is for each person in each moment of life the important thing is how much it means to you how much you need and what you already need I suggest not thinking about.
How You Can Create That Financial Freedom
What I want on the plane to close the door when you don't even have a house or you don't even have your car or you can't even stop working the important thing is that I landed is your goal and think in the long term how you can create that financial freedom in 10 or 15 years that was for you I am 60 years past 15 and a half years my life when.
I turn red now 15 years 15 is impressive as a hobby the slow when we are in trouble we perform from the bankrupt executor we are in a bad situation we are not in emotional problems but if you have a long- term vision your whole perspective will be different because you will be my goal is to build this passive income and set a goal not.
I feared and a bridge a goal that lands one thousand dollars two thousand 93 thousand dollars I am going to set the goal of a thousand dollars of income walk if you are looking for properties that give you 50 thanking them for monthly passive income already with that with 10 properties their have their thousand dollars and that is not so difficult in 10 or 15 years or they are looking for several ways to do it.
Financial Freedom From Creating Defensive Strategies
But focus on the long term butler of a friend's farm my friend died a few months ago I have known him for more than 40 years he lives near Bogotá and has spoken several times and he wins and I think still a little more than minimum wage for 40 years and has more than 2 million dollars in assets which is what he has always spent less than.
What you earn always use your income in a smart way and like people who have achieved financial freedom from creating defensive strategies that is a defensive strategy a density strategy as I defend what I earn that looks like a drop is able to create a gap over time and the proper persistence is to start with lowering.
My expenses making an income budget of spending defensive strategy is to pay my debts and some people have savings and debts so they use your savings leave a little savings to have an emergency fund and instead of paying 10, 15 or 20 percent interest, pay the debts that will ease the burden on you, these are defensive strategies, see.
What Are The Strategies Offensive Strategies
How you can lower your expenses to the maximum and even pay your debts to release those expenses. unnecessary or those debt payments and increase your capacity now and also offensive strategies what are the strategies offensive strategies how can I seek to earn more how can I seek to use my time to earn more money.
How can I monetize my talents for example if I have experience in what I do how can I use that to sell it with consulting as advice how can I monetize my hobby how can I sell things that I do not use that all this if I do it simultaneously with defensive strategies, will help me pay my debt faster and increase my ability to save and within that offensive strategy for example?
Start investing in what you know in what that you know what you control and if you want something and it attracts your attention to educate so that you do it appropriately and so that you do not lose your savings unnecessarily because now with that entrepreneurship it is everyone's like the one who does not undertake.
If You Are Paid Welcome As An Offensive Strategy
It is a, not if you like your job or if you are paid welcome as an offensive strategy, you are earning a little more money to go save do and if you are going to undertake, look for how you can undertake with your talent or with very little money so that you do not risk because most people underestimate that entrepreneurship implies mistakes and also.
That plans are never come out as one wants there are always variations then yes I get into debt to start a business if I quit my job and then I also charge my business with the expenses of my family because I do not have that I am killing that possibility of entrepreneurship and then I will end by saying that I am hand to do business you do not want us but.
It is not that you did not do it in the proper way to do it well do it calmly do it with that long-term vision and on the other hand sell everything that you do not use the lot that you have there on the farm I do not know what that one day you You plan to build the house of your dreams but it has been 20 years in more has done nothing if you have three cars or a very expensive car.
There Are Investments That Are Safe
I need that car I can sell I can take it away How many of my students have taken a car and given it as a down payment on a property? There are many ways to turn those assets that you are not using into resources that will help you create that long-term plan that you want. and makes an investment plan, it is already an investment plan that may not be as coolly elegant as, it is not that I in stocks, you know.
That I will invest in bitcoin, well in bitcoin for me some people earn with bitcoin but most of the People like stocks are speculating on stocks because if I don't understand it is very likely that I will lose if I educated myself I can do it appropriately and if I have a job I may not have time to invest in what.
I do not know and that will lead me to risk and lose because then there are investments that are safe, an investment according to the first investment, as I said, is to pay your debts, and for me, a safe investment is in the pour.