Lets talk wealth. Stay with me on this

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Lets talk wealth. Stay with me on this

Postby Kaiokenryu » Mon Mar 24, 2014 10:47 pm

for the past two years......I have been studying, practicing, building and trying to gain an increase in my actual wealth.

I was told by a few millionaires in my passing that wealth isn't directly the amount of money you own....but the amount of time the money you receive allows you to live in a current lifestyle without input of your own.

I get this....I understand now how you can have infinite wealth.

i have have listened to several tutorials on the psychological differences between the operational habits of the "poor but not destitute", the middle class (85-90% of working people) and the wealthy.

everyone with any financial sense has heard the following:

poor people buy "things"

middle class people buy "liabilities"

wealthy people buy "assets"

this changed my life...albeit 20 years later

assets are not what you own.....but what you own that PAYS you.

I didn't realize what my dad meant until i was a grown man and ran to him with my stock portfolio...so proud that i had a 20% gain and was able to get that stock I always wanted. and he finally asked me if I finally understood what he meant by get "assets".

on my 4 mile run today I challanged myself to figure out how someone makes the leap from the middle to the top. it takes stupid capital or insane patience to gain enough passive paying assets to allow ones wealth to grow to self sustaining proportions. I could not come up with anything outside of sheer luck as to how companies like Apple and Ford Motor Co. were able to allow the founders to "walk away" and live in the textbooks of years to come.

starting a business is easy...getting it to grow is hard.....getting it to last long after you are gone....nearly impossible.

i have a business.....I want to be able to hand it over to my child or children one day to allow them to be able to have the potential for this and for my values and teaching to live on past me.

How (if any on this forum are close to it, have a clue, or have reached this socio-economical pinnacle) did you or how do they do it? How do you continually aquire asset after asset (aside from delayed gratification) to be able to gain true wealth?

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Postby tbka » Tue Mar 25, 2014 5:53 am

Rich Dad, poor dad... What a good book. With all techniques like these, it is in the execution. Just like me rebuilding my credit, or you developing real wealth, you must DO. Find a plan that works and make it happen.
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