Believe it or not but, your biggest asset is your time. Time is the one thing you cannot get back. Those that know how to use it leverage it and those that do not know lose it. However, building wealth generally takes time. Most people never fully understand the way to create wealth until they reach their later years in life depending on what experiences they may have had. Most of which learn through educational experiences of classes, courses, mentors, and life itself. I’ve been fortunate to meet many wealthy people and learn how money works from them. Most of what you know and have been taught does not work and only makes others rich. If it did you would see more wealthy people than you do. I do recommend that you join Wealth Squad and learn as much as you can with the group. Here is the link to it: https://www.wealthsquad.university/?via=Stockmags
I also recommend that you join Wealth Without Wall Street, to get some ideas of how to build wealth without the use of a 401k, stocks, options, etc. If you know how to make income, you will do well with building wealth and furthermore, be able to help others.
When I was 16, the president of the local oil company heard me talking with my dad about a truck that I was considering buying. The older gentleman, who was nearly my grandfathers age said, “Go get the truck on my tab and you can pay me back for it.” Wow, I thought as a 16 year old and let’s go get the truck. My dad told me now let’s think about if that’s what you really want to do.
Later that day, my dad and I ran the numbers, I was going to need to come up with nearly $250 a month to cover the cost of the truck financed at 5% for three and a half years. Who was making the 5%? Not the bank but, the president of the local oil company. Plus, I had to have the insurance set up so that it would pay him if the truck was wrecked or stolen.
This was the beginning of my understanding of how money works. I decided early in life that I too want to be able to lend to others because that is so satisfying and helpful. It is nice to be able to help others out if you’re in a place to do that. Soon, I was talking to banks to get a loan setup. I decided that instead of having to go through a bank or another person to get a loan why not find a great way to do this myself. I could save the money up but, that would take years or I could tap into the loan value of my whole life insurance policy without any questions asked.
Being Your Own Bank
This was my first experience with be your own banker and the fact of building wealth with principal and time. The oil man was going to loan me money from his credit line with the local dealership that he paid 1% on and charge me 5% thus making a 4% profit off of someone else’s money. Read that line again and think about that. Now, your thinking like a banker.
It will take a lot of money that I don’t have to do this same thing right? No, not really, you can do this through your 401K, through your whole life insurance policy, or through any of your businesses. You just have to understand how it works. However, I have found the Dividend Paying Whole Life insurance to be the safest and best to capitalize without interrupting the compounding interest. Now that’s where you get power of money. Anytime you interrupt the compounding interest and reset it, like what banks do, you lose.
If want to become your own banker using Whole Life Insurance then take action now and click here.
Once you have your Dividend Paying Whole Life policy in place, your premium will be your deposit that you can access to fund your life events. You will be able to borrow from your future dead self to do the things you need in life while you are alive. You can pay the policy back, to fully fund it for the next time you need it all while building your own cash reserves within the policy. As you do this, the policy should grow year by year. This will allow you to leave a nice legacy for your heirs. Want to learn more, get the book here at Amazon: https://amzn.to/3N0XhET
Investing in the Market
To build wealth, it takes Time x Amount x Yield = Wealth; for example, 30 years with $1,000 and a $50 monthly contribution at 11% will yield $142,304.82. This is based using a compounding calculator. You can see how it is important to begin as soon as you can with what you can. We can guide you along the way with which investments to choose, if you do not already know. One by signing up with Wealth Squad and another by using MyWallSt Horizon Service to gain access to future companies that fit our criteria of great innovative companies in the next 10+ years. Email us to get started with your name and a great email to start your journey.
Investing in Real Estate
To build your next wealth stream, we recommend you consider real estate investing. There are many entry points to this. But, we find the easiest using only capital is through Fundrise. With Fundrise you are getting to pool your investment money with many other investors and acquiring billions of dollars worth of real estate. This alone allows you to earn a compounding 12% interest while not having to repair a toilet or sink in the middle of the night. Click here to get started investing in Fundrise.
Dividend Stocks and REITs
One of the most valuable ways to build wealth is through dividends and REITs. Both of these pay you a drip of money on certain intervals be it weekly, monthly, quarterly, or annually. With these investments you will get a certain amount of the proceeds that they earn back as a payment to you for investing with them. Many of these can be found through the www.dogsofthedow.com website along with other ways. Generally, as you invest in these you will plan to continue to add to them to the point that you get a nice sum of earnings back. For example, if you find a REIT off of Dogs of the Dow website and then check it out in StockAnalysis.com you will be able to look at the dividend history. Generally, you want to see an increase in the dividend to show growth. But, in hard times some companies have stopped paying dividends until the good times return. Ford has done this in the past for example. It is recommended that you learn as much as possible about the power of REITs and you can do this from reading The Intelligent REIT Investor Guide by Brad Thomas. Brad has been investing in REITs and shares how to find great Real Estate Investment Trust that will pay you nice dividends.
Building Wealth Takes Time But It’s Well Worth It
As you can see, we have provided you with a great, easy entry into investing while you continue to work doing the job you enjoy all while collecting extra income each month and each year. Each year, you will get to watch your accounts compound with growth and become what you dreamed of. If you are interested in learning how to build wealth by having a wealthy mentor to guide you through your own journey, in order to shorten the learning curve to obtain wealth then join me in the Wealth Squad. You will earn your payment back and then some as you are growing your wealth the correct way with great guidance and mentorships.
Multimillionaire/Billionaire Path Can Be Your Path
It’s completely up to you to build your own path to become wealthy. There are many paths to get you to this place in life as well. However, the three main paths are through a business, real estate, or investing in businesses via the stock market, syndications, etc. The thing that holds most back is their fear of losing or fear of being wrong. Fear was well summed up in a phrase from the 1933 inaugural address of Franklin D. Roosevelt; “Nothing to Fear but Fear Itself” which is what holds most back from investing in what they already are sure of.
The next move to improving your life is on you. You have many resources at your disposal within this site to help you either get started or to improve upon what you have already started in building wealth. I urge you to join a group of millionaires and ask them questions to help guide you to becoming the next millionaire. Together we can all prosper. Join us in the Wealth Squad and make your contributions all while learning from others who have made millions. There is something for all of us who have a common interest in growing wealth. Make a difference in your life and those you love all while making great contributions back to society.
Tracking Your Wealth
Finally, the most important part of your wealth journey is knowing what you are worth. It is time you were serious enough to track every part of your income and expenses. You need to know what you earn, how you earn, where you earn just as much as you need to know what you spend, how you spend, and to what extent that you spend. When you track each of these, much like journalling, you begin to see places of improvement. This only leads to a more accurate viewpoint for you to make better plans for your money. It’s time your money works for you and not the other way around. Get started tracking your income streams and your expenses. Get started here to ==> Track Your Income and Expenses <==.
Mingle With People To Build Wealth
The wealth that you earn is in the pocketbooks, purses, wallets, and pockets of other people whom you will serve. As you serve other people and provide for them a service that helps them, they pay you money or certificates of appreciation.
The best way to meet the people you want to network with and do business with is through community service, clubs, and golf courses. If you decide to go to the golf course, you need to be sure that your golf swing is up to par.
I have been practicing improving my golf swing using the techniques that make your swing a smooth transition from start to finish. It has also improved my distance on follow through with getting the golf ball further down the fairway. Here is the site I was able to get some extra improvement for my golf swing.
Building Wealth Takes Time Using The Wealth Squad Community
Just remember that poor people spend everything they have while millionaires invest 1000’s. Read that again and let it resonate with you. It’s time you changed your thinking to grow your income. Remember building wealth takes time. You need to be growing that income each day. Take your dreams, think about them, write them down and build them out. Your spending problem is an income problem and we can help you solve that problem. How? By joining The Wealth Squad community where you get the skills needed to build your wealth and become a millionaire. It’s easy, you can do this if you apply what is taught. Let’s go and get it done.
