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Wealth comes down to a simple formula
It's so simple yet most struggle with it
Let's go over why that is in
"Assets & Liabilities"
- A THREAD -
It's so simple yet most struggle with it
Let's go over why that is in
"Assets & Liabilities"
- A THREAD -
1.
For those of you who may be wondering...
An asset is something you own that will earn you money over time
A liability is something that will cost you money over time
For those of you who may be wondering...
An asset is something you own that will earn you money over time
A liability is something that will cost you money over time
2.
Some examples of assets are:
- Land
- Stocks
- Inventory
- Real estate
- Intellectual property
- Certificate of deposits
Some examples of assets are:
- Land
- Stocks
- Inventory
- Real estate
- Intellectual property
- Certificate of deposits
3.
Some examples of liabilities are:
- Cars
- Bank debt
- Your house
- Credit card debt
Some examples of liabilities are:
- Cars
- Bank debt
- Your house
- Credit card debt
4.
The simple formula is
Assets - liabilities = net worth
The problem most people face is that they own more liabilities than they do assets
Why is that?
The simple formula is
Assets - liabilities = net worth
The problem most people face is that they own more liabilities than they do assets
Why is that?
5.
One of my favorite quotes is
"Wealth is quiet. Rich is loud. Poor is flashy."
A poor mindset has led to people feeling a need to look rich now
What good comes from looking rich when in reality, you're broke?
One of my favorite quotes is
"Wealth is quiet. Rich is loud. Poor is flashy."
A poor mindset has led to people feeling a need to look rich now
What good comes from looking rich when in reality, you're broke?
6.
So
How can you build assets rather than liabilities?
Here are some easy ways:
1. Buy growth stocks/ETFs
2. Buy dividend paying stocks
3. Sell a product on Gumroad/Teachable/Udemy/etc
So
How can you build assets rather than liabilities?
Here are some easy ways:
1. Buy growth stocks/ETFs
2. Buy dividend paying stocks
3. Sell a product on Gumroad/Teachable/Udemy/etc
7.
Each of these options can pay you handsomely
Not sure how you'll be able to build these assets over time?
Keep reading...
Each of these options can pay you handsomely
Not sure how you'll be able to build these assets over time?
Keep reading...
8.
For those of you looking to buy growth stocks/ETFs
The Big Picture is the way to go
You'll have everything you need at your fingertips
- Long-term investment ideas
- Weekly trades with buy/sell/target points
- 1 on 1 help if needed https://gum.co/TheBigPic
For those of you looking to buy growth stocks/ETFs
The Big Picture is the way to go
You'll have everything you need at your fingertips
- Long-term investment ideas
- Weekly trades with buy/sell/target points
- 1 on 1 help if needed https://gum.co/TheBigPic
9.
For those of you looking to buy dividend paying stocks
Check out @DivCultivator
I'm no affiliate, but he has one of the best dividend books out
Dividends aren't my specialty, but there I can always learn more
You won't regret picking up his course...
For those of you looking to buy dividend paying stocks
Check out @DivCultivator
I'm no affiliate, but he has one of the best dividend books out
Dividends aren't my specialty, but there I can always learn more
You won't regret picking up his course...
10.
For those of you looking to create a product to sell
Check out @joserosado
I picked up his "E-Book Printing Machine" course some time ago
I've been using it to help me write my course
Trust me, he can teach you how to write your course
For those of you looking to create a product to sell
Check out @joserosado
I picked up his "E-Book Printing Machine" course some time ago
I've been using it to help me write my course
Trust me, he can teach you how to write your course
11.
Building assets isn't as difficult as it seems to be
Instant gratification makes it difficult
Rather than thinking about today
Think about where you want to be tomorrow
You owe it to yourself to do this
Building assets isn't as difficult as it seems to be
Instant gratification makes it difficult
Rather than thinking about today
Think about where you want to be tomorrow
You owe it to yourself to do this
