Let’s talk about becoming wealthy, shall we?
This is a short email that I sent to my list, and I received so many replies that I felt the need to turn it into a short post, so here you go! You’re welcome.
Do you ever wonder how some people are able to afford luxurious cars, big houses, high-end purses, and other things that YOU cannot purchase without going broke?
Yep. I used to wonder the same thing too until I got involved in personal finance masterclasses, courses, and pieces of training. Let me tell you my favorite top 3 things about building wealth that I’ve learned and actually do, so that YOU can do it, too:
- Compound interest: this is simply when you invest your money, and the money that you invested makes you more money. Then, that money makes you EVEN MORE MONEY. Basically, money that makes you more money, that makes you more money.
- Becoming a millionaire with just $500 per month: open a permanent life insurance account, make sure it’s indexed. The money that you deposit inside that account per month generates you more money, which is tax-free. I personally believe that this is better than the stock market because here your gains are guaranteed whether the stock market goes up or down.
- Tax-free income: this is a secret that nobody wants you to know. But hey, I do! Simply create a corporation. You’ll only pay taxes on the money that is leftover. So if you make $100,000 and spend $90,000 you’ll only be taxed on $10,000.
Just imagine all the things you can do, the experiences you can live, and the amazing things you can purchase when you become financially literate and independent. Sounds great, right?