Money Wisdom

It’s just my humble opinion that many people choose to spend a lot of time talking and rationalizing about why they don’t need money, or they’re happy without money, or that money isn’t everything. And that’s fine. But for those who decide to choose to focus on wealth creation… to get wise and work towards the freedom that wealth can bring them, here’s a list of Money Wisdom I have beside my desk for years now…not even sure of where I found it but it’s working!.

Suggestions for your Money Wisdom List

  1. Keep a detailed month over month cash flow (in and out) report. It will educate you into wasting less. 

  2. Get the Cash Out portion updated weekly (Credit Cards etc) so your spending is fresh on your mind.

  3. Create and maintain Excellent Credit…the more the better. Use credit to buy Appreciating Assets…business income and or real estate.

  4. Buy high quality depreciating assets when they are fully depreciated..ie 10 year old Mercedes or Rolex

  5. Resist Resist Resist the temptation to sell any appreciating assets..ie equities and real estate unless it is to roll it into something that will appreciate more.

  6. Invest, Invest, Invest in you. Your beliefs, Your skills, Your network, Your relationships, Your health. Your body, mind and soul are your conduit for wealth building. Invest 20-30% of your income in your ability to earn more.

  7. Create businesses that can either be sold for a profit and or spin off residual income. Network Marketing is the best I have ever seen by far. Invest a few thousand and a few years for a residual income worth millions. Is it easy? NO. Does everyone succeed? NO. Do it anyway. Ps. Don’t be road kill. Follow a proven business plan(You can learn the skills to succeed & are welcome to join me and learn from my decade+ of experience)

  8. Aggressively seek out legitimate tax deductions. $1000 saved in taxes is $1,000 in net income. Being self employed is the only way to legitimately take full advantage of our tax code.

  9. Be patient. A penny doubled (compounded growth) every day for a month is worth over $5,000,000. Anyone know what it is worth half way through the month?

  10. Have fun! This is  your life and great money wisdom can lead to the most fun.

  11. Spend vs Preserve for future generations. What are your preferences and motives? (Make time to think about this an write down a vision for your life.)

  12. Charities. What is your philosophy and what are your motives? (Think about how you want to impact this world?)

Everyone should own a Network Marketing Business  with a legacy company. It’s affordable, it’s a learn as you go business school and it’s the best way to produce passive income  cash flow. Contact me for Q&A

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