Learn How To Grow Your Wealth – Keith Weinhold
Have you ever wished you could have more wealth? Well, if you are reading this it’s because you have.
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There exists a common misconception that in order to make more money you must reduce your expenses. Actually, quite the opposite is true. To grow your wealth you must focus on increasing your income. Concentrate of producing more, not reducing. The way to health is not by shrinking, you must spend money to make money.
We live in a world that is filled with abundances, why would you chose to “live below your means.” Have you ever received that advice? I believe that it is the worst advice you could give to anyone. Last year I wrote the article “Live Below Your Means” on why it is bad advice. It is a discouraging phrase that stops you from living at your full potential. Invest your energy on creating more and expanding your means.
Here are some examples of everyday decisions that shape your wealth potential. It is through the summation of these actions that determine if you are living below your means, or expanding your means:
Spend years of your childhood…
Below: …practicing to become the high school mascot.
Expand: …practicing to become the high school quarterback.
Spend 5 extra minutes this week…
Below: …detouring to the cheapest car gasoline station.
Expand: …with your family because you arrived home sooner from the nearby gas station.
Spend 30 extra minutes…
Below: …waiting in line for a free Chik-Fil-A sandwich.
Expand: …learning about how credit scores work to get the best mortgage terms.
Spend 1 hour…
Below: …mowing your own grass when the neighbor kid would do it for $25.
Expand: …in research to find your next income-producing property.
Spend the month…
Below: …watching every season of Game Of Thrones.
Expand …watching half as much Game Of Thrones and gaining financial education.
Spend the next three years…
Below: …yanking weeds at home so that you could save money and hope you’ll live better “someday”.
Expand: …on ten memorable family vacations and five seminar trips, paid from your income property.
Spend the next ten years…
Below: …working voluntary overtime hours because your chief idea of income production is trading time for dollars over-and-over-and-over.
Expand: …having the time to attend your daughter’s piano lessons and ice skating exhibitions.
Spend 30 years…
Below: …commuting to work. You commute just to sell your time for money at a work-a-day job that you might not even like!
Expand: …enjoying durable passive income streams. Use your extra time to find fulfillment or create memories with loved ones.
Spend 40 years…
Below: …being a landlord. Every tenant has your phone number.
Expand: …checking on your income properties distantly with occasional e-mails to a trusted Property Manager who you’ve built a relationship with.
Spend your investor life thinking…
Your mindset and work habits consist of:
Below: …hauling water buckets to the garden daily.
Expand: …setting up a sprinkler system in the garden once.
An enduring Rich Dad mantra, “Don’t Live Below Your Means. Expand Your Means.” I asked Robert Kiyosaki, one of our authors, about it the first time he was on my podcast back in Episode 84. It is your choice to live the life of your dreams or to live in fear. A rich person digs for gold. A poor person is concerned with the cost of a shovel.
Here’s to your wealth and happiness!
Keith’s new #1 International Best-Selling Book reveals the 7 Money Myths That Are Killing Your Wealth Potential, including the epiphany that getting your money to work for you will NOT create wealth! You can now get this e-book FREE at GetRichEducation.com/Book