Loading ...Today I am ( hope ) middle aged.. With people living to 90. If you are trying to do the math– it’s 45!
Old to some — young to others. But the bottom line is that I committed to myself when 20 years old that I would be a millionaire by 40! And I did it . At least on paper.
WHAT HAVE I LEARNED FROM AGE 20 -45?
Now that I am older I have learned a few things-
I know what it’s like to earn a million in a weekend.
I know what it’s like to be dead broke.
I know what it’s like to “chill”
I know what it’s like to work 24/7/365
and I now know what it’s like to be poor- rich -then poor again then rich again.
SO where is all this blabbering pointing?
Well – Being rich , I now realize is NOT all about just money – Yeah I know very cliche.
But here are my thoughts. Being a millonaire is great – beats being broke for sure. But it’s not enough.
TRULY BEING RICH means being able to do what you want to do – whenever you want to do it… PERIOD>
Getting up to go to work because YOU WANT TO … not have to.
CONFESSION ! – I am not there yet – was close but now this recession has sent me back a bit. But I am now smarter!
HERE IS THE BIG LESSON : make sure you are always asking yourself the RIGHT QUESTIONS and always make sure your goals are correct.
For me being a millionaire was the WRONG GOAL! Because it still does not allow me to do what I want to do when I want to do it.
In fact – I don’t really need 1million dollars do I?
I just need ________ amount of money coming in each and every month consistenly – and predictably . Work I can do once – systems I can put in place once.
I have several real-estate partnerships that I worked really hard to set up that just send me quarterly checks now — Pretty cool HUH!
So go ahead and make sure you are asking yourself the right questions! and have the correct goals. DON’T ASSUME like I DID!
Dedicated To Increasing Your Profits and Wealth,
Brian Sacks
PS- Would love to hear your thoughts – jot them down below!
PPS- I know I have mentioned these a few times but I just got back from the beach and here’s what I took with me www.readthemquickly.com
PPPS #3 – Know someone who might benefit from reading thinkandgrow rich and the science of getting rich? send them over to www.profitandwealth.com/free
I am thinking about holding a teleclass webinar on the subject of how to increase profits and wealth.
What would you like to see covered? LEAVE YOUR COMMENTS BELOW
{ 2 comments… read them below or add one }
Happy Birthday Brian. Thanks for the valuable info. you always provide.
Happy B-day Mr. Sacks!
It sounds like RESIDUAL INCOME / PASSIVE INCOME / POSITIVE CASH FLOW is the KEY to Freedom not just Net Worth.
I guess that’s why the government doesn’t give seniors their Social Security in one lump some but rather in “residual income” payments over the golden years.
It’s also why some senior’s who have free and clear homes (equity rich) need reverse mortgages (cash flow poor).
This is something Robert Kiyosaki “Rich Dad Poor Dad, Author” focuses on. He really teaches cash flow and residutal income.
I guess that’s why very weathy people own commercial real estate and not residential because commercial (apartments, office buildings, etc) can throw off huge cash flow after paying the mortgage, etc and be managed by property manager with no owner involvment.
There is a reason why Donald Trump doesn’t own single family homes.
I have found Net Worth to be important and even necessary in some situation to be able to achieve the cash flow/residual income one desires but i would rather have a 500k annual residual income over a couple million dollar net worth.
The reason being is that if you only have net worth you will have to spend it all to live/survive but if you have both or only cash flow you can grow your net worth while having the income on auto pilot to cover you living expenses. Will residual income/ cash flow you will never have to tap into the Net Worth Nest Egg like a senior does in a reverse mortgage.
I have found Business’s (like franchises with systems to run themselves) and Commercial Cash Flow real estate (mostly apartment buildings like Trumps dad Fred Trump) are the best vehicles to achieve finanial freedom through residual/passive/ cash flow income.
I have heard solid/reputable Net work marketing business models are a great way to start out for those with limited resources but do your homework.
Any response to my posting would be great! Please send to my email NYSE@Live.com
Thank you again for all the great info!
Richard E.
NYSE@Live.com