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How to Get rich & Stay Rich?
I've been watching some motivation videos lately
This one is inspired by one my favorite concept by @danlok
Here it goes
"The Wealth Triangle" - A thread
I've been watching some motivation videos lately
This one is inspired by one my favorite concept by @danlok
Here it goes
"The Wealth Triangle" - A thread
1. The Wealth triangle
You need three things to create real wealth.
-A High Income skill
-A Scalable Business
-High Return investments
You need three things to create real wealth.
-A High Income skill
-A Scalable Business
-High Return investments
2. High income skill
Anything with which you can earn at least $100k per year.
This is still Trading your time for money (but high dollar)
Ex: Copywriter, Web design, Digital marketing, Social media marketing etc.,
Most of them can be learned online.
Anything with which you can earn at least $100k per year.
This is still Trading your time for money (but high dollar)
Ex: Copywriter, Web design, Digital marketing, Social media marketing etc.,
Most of them can be learned online.
3. Scalable Business
Any business that you can grow without a lot of infrastructure or investment.
All online business are extremely scalable
This gives you passive cashflow
Any business that you can grow without a lot of infrastructure or investment.
All online business are extremely scalable
This gives you passive cashflow
4. High return investment
Any investment which provides more than 10% year in and year out
This does not give you income but increases your NETWORTH
Any investment which provides more than 10% year in and year out
This does not give you income but increases your NETWORTH
5. Critical step
The important part here is acquiring a High income skill
Once you start making 10k a month your psychology itself changes
This makes you to be good at people skills, work ethics, selling and providing value to marketplace
The important part here is acquiring a High income skill
Once you start making 10k a month your psychology itself changes
This makes you to be good at people skills, work ethics, selling and providing value to marketplace
6. Stacking on success
Once you are good with your high income skill and making 10k a month
This is when you jump into scalable business
Since you already have few skills this switch will be easy.
Once you are good with your high income skill and making 10k a month
This is when you jump into scalable business
Since you already have few skills this switch will be easy.
7. In a nutshell,
-High income skill is YOU making money
-Scalable Business is people/systems making you money
-High return investment is money making money
-High income skill is YOU making money
-Scalable Business is people/systems making you money
-High return investment is money making money
