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It period hi. My names pj and welcome to our short presentation have you ever wondered how the rich keep getting richer while broke people stay broke and the middle class seems to be shrinking well this isnt nearly as mysterious as it may appear when you examine the specific differences in how broke people the middle class and the rich spend their money now. This is such a simple concept yet so profound it nearly knocked me out of my chair.
When i finally understood it im going to show you exactly how the rich spend their money and you can evaluate for yourself. Why they keep getting richer and the broke keep getting broker. And why the middle class remains.
So stressed out now to get started. Id like to review some financial terms. Well be using during this presentation.
The terms that you need to be familiar with are cash flow. Which means money you bring in expenses. Which means money you spend assets now.
This is the most confusing one youre probably familiar with the traditional definition of an asset. Which is something you own or have equity in however back in the 1990s. Robert kiyosaki introduced us to a new definition of an asset in his groundbreaking rich dad poor dad series of books.
Robert taught us that an asset is something that pays you and thats the definition. Well be using here liabilities. Is the last term and its defined as things that cost you money as an example.
A house is typically viewed as an asset. But can it actually be a liability. Yes.
With our revised definition anything that costs you money is a liability. Not an asset. If you have a mortgage.
Your house is an asset to your banker. Because it pays him or her every month. But could a house also be considered an asset to you yes in the right circumstances.
It could when it pays you money lets say you buy a house and you rent it out. And it paid you a positive cash flow every month after all expenses that would then be considered an asset now one more time with the terms just to be very clear before we continue cash flow is money you make expenses. Thats money you spend an asset pays you and a liability costs.
You now lets take a look at how broke people spend their money now when i say broke people. Im not referring to the destitute. Im speaking about that large portion of our society.
That lives from paycheck to paycheck and who never seemed to have any money in fact most times theres more month left at the end of their money and im sure many of you can relate to that group on payday broke. People by what im going to call stuff. Well what stuff well thats inexpensive things that people buy that they dont really need to survive you go into someones house.
And you cant find any counter or tabletop space in the whole house. Because of all the stuff on it their house and their cars are full and cluttered with stuff. What where do they get all this stuff they buy it at the flea market at the garage sale at the dollar store at the craft show so cash flow comes in and then it goes straight out the expense column to buy stuff you see broke people never really educate themselves on assets and liabilities they justify buying all of this stuff by claiming that a cost so little but over the years its all they ever have the problem is their cash flow.
Never produced or created more cash flow. Now please understand im not undermining or taking any shots at this or any group. I just see a lot of financial difficulty out there.
And it really doesnt need to be that way creating wealth isnt a mystery. Its a formula. The only reason someone doesnt create wealth is because they either dont know the formula or they dont apply the now lets take a look at the middle class.
The middle class is the group that society mistakenly. Thinks are rich theyre not yes. They typically earn a six figure income and many of them appear rich.
But its what they buy with their money that keeps them prisoners of the middle class. What they typically buy are liabilities. Remember the definition of a liability.
Things that cost you by buying liabilities. The money gets pushed up and out their expense. Column liabilities are items like cars boats houses airplanes credit card debt now lets see just how this.
Happens the middle class gets a nice. Paycheck lets say 10000. For the month.
They then split that down the middle and they pay their monthly expenses with half and with the other half they make a down payment on a new car the car costs 5000. Down and after they add on the insurance and the maintenance that liability now costs 1100 new dollars every single month a few months go by and they want a boat then a vacation home a rolex watch on their credit card a vacation on their credit card and before you know it their liabilities have raised their expense levels to near or above their income levels. They actually spend equal to or more than they make meaning that they have to go to work and make a certain amount of money every single month.
Just to cover their liabilities. The other important issue with both broke people and the middle class is that normally all of their cash flow is dependent on their own effort. Meaning that theyve educated themselves to exchange their knowledge and expertise for someones money also the money they earn is usually the highest taxed form of income heres an example.
An attorney is knowledgeable about law. So people pay him or her in exchange for that knowledge on an hourly basis. The problem here is that if the attorney isnt sharing that knowledge with a client then the attorney isnt making any money this causes lots of stress and anxiety in their lives.
And if you ever ask them to take an afternoon off to play golf with you well they very rarely can because of how much money itll cost them to take that time off on the surface lifes pretty good. The reality is that its a roller coaster ride thats the middle class. Now.
I know this group very well because for a great deal of my adult life that was me now. Lets take a look at how the rich people spend their money rich people acquire assets. Again an asset is something that pays you if you want to become rich buy assets that earn you more money the money cycle looks like this acquire assets that produce cash flow invest the profits to acquire more assets that produce more cash flow invest those profits to acquire more assets that produce more cash flow.
The rich spend their money and acquire things that produce more money here are a few examples of assets that produce more money investments are the obvious ones stocks bonds. Real estate education is another asset. If you learn how to do something that produces more money for you and you actually do it thats buying an asset.
There is a great quote that goes if you think education is expensive. You should see how expensive stupidity is another example of assets you can acquire that pay you are cash. Generating opportunities.
Especially those opportunities that can create a passive cash. Flow passive meaning that once you build it up the money continues to flow whether youre still building it or not heres a small example. Lets suppose you buy the pinball machine.
And you put it in a barber shop and you dont spend any of the profits you save them until you can buy another pinball machine and put it in another barber shop this by the way was warren buffetts first business. If you dont know who warren buffett. Is hes one of the top two richest men in america.
The rich are extremely eager to find those passive cash. Generating opportunities because those opportunities continue to pay them month after month year after year long after theyve stopped working the opportunity you know i see this happen again and again with successful entrepreneurs they find a passive cash flow stream that they build up and it continues to pay them month after month year after year. They then take those profits and multiply them in another passive cash generating opportunity and then again in another in conclusion.
Heres what ive learned over the years you cant find these passive cash. Generating opportunities. Unless youre open to hearing about them.
Then once you find them you must be willing to see what fits you and then act. Now the reason. I say.
This is that i once answered a hokie little ad that i ended up generating seven figures from simply because i answered that ad and then took action. These opportunities are out there you just need to find them you also must be opportunistic enough that when the right situation does present itself. You dont miss it so remember broke people buy stuff the middle class by liabilities and the rich acquire assets.
Preferably cash generating opportunities that can create passive cash flow. They then take that cash flow and invest it in another asset that produces more cash flow. Thats the wealth creation formula.
Now i trust you found this introductory information. Helpful now to learn about one of the greatest cash generating machines on the planet click on the link below to proceed to step two let me tell you something you already know the world ai. Nt all sunshine and rainbows.
Its a very mean and nasty place and i dont care how tough you are it will beat you to your knees and keep you there permanently if you let it you me or nobody is gonna hit as hard as life. But it aint about how hard you hit its about how hard you can get hit and keep moving forward how much you can take and keep moving forward thats how weird it is done now if you know what youre worth then go out and get what youre worth. But you gotta be willing to take the hits and not pointing fingers.
Saying you aint where you wanna be because of him or her or anybody cowards do that and that aint you youre better than that financial freedom. .
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