7 Steps to Getting Rich





How do the rich keeping getting richer while the poor keep getting poorer?
Owning your time is a major key to wealth as well as the ability to make money while you are sleeping.

What separates the Rich from the Poor??? 
For One, it is THE MINDSET!

Here are 7 Steps to Getting Rich. 

1. Don't spend more money than you make.

2. Pay yourself first, not only to have an emergency fund but also for when the right opportunity comes along, you have the cash to grab it. 

Nearly 70 percent of all Americans have less than $1,000 in their savings accounts, and are one small emergency away from a complete collapse. 

3. Track all of your Expenses. Monitor what is coming in and what is going out of your bank account. 
What can be diverted into smarter investments, like your emergency fund and creating your OWN BUSINESS, instead of starbucks, expensive dinners, shopping sprees, louboutins, louis vuitton, gucci etc. 
What do you need to eliminate??

4. Eliminate debts that rob you of your income with those high interest rates. 
You can't get rich in life when you spend a large majority of your income paying interest payments on money that you've already spent. 

Take the highest interest rate card or loan and double the minimum payments until it's paid off. Then, move to the next one. Then the next. Until it's all gone. 




5. Set daily goals and take action to reach them. We all have the same 24 hours in a day. 
Ask yourself, what are the wealthy doing with their 24 hours that I am not?

First off all, are you in a position to generate revenue 24 hours a day or are you subject to an 8 hour day generating a fixed revenue decided by your employer?

The wealthy generate revenue 24 hours a day which includes while they are sleeping.

So while you are making $20.00 an hour they are making $100.00 an hour 24 hours a day. 

So let's look at these EXAMPLE numbers:

Employee ~ $20.00 an hour for 8 hours is = $160.00 a day before taxes.

Wealthy ~ $100.00 an hour for 24 hours is = $2400 a day = taxes are paid quarterly or at the end of the year. 

So a $20.00 an hour worker is making $800.00 before taxes in a 5 Day work week.

The wealthy individual is making $16,800 in a 7 Day Week. Taxes paid later.

The $20.00 an hour worker makes $3,200 a month. Taxes taken out immediately.

The wealthy individual is making $67,200 a month. Taxes paid later.

The $20.00 an hour worker makes $38,400 a year before taxes.

The wealthy individual is making $806,400 a year. Taxes paid later.

CHANGE YOUR MINDSET!




6. Build multiple streams of passive income.
Simply put, you to need to generate your income on autopilot if you want to create a considerable net worth. 

Start a business and sell digital products for example. This gives you the ability to sell a product 24 hours a day, over and over.
Decide today to Start a blog, create digital products such as ebooks or courses, and even create an online tutorial.

Some of the most popular involve real estate. 




Whatever you decide to do, by focusing on passive income, you'll do the work once and get paid repeatedly. 

Alternatively, active income requires the consistent investment of your time to earn money. As soon as you stop working, you stop earning. 
There's no way to scale your wealth or income by solely engaging in active income. 
Focus on passive income and watch your wealth explode over time. 

7. Invest in what you know and Love. 

By doing this, it will carry you through the tough times while you are building your business, because you are building something you have a passion for.




When you do what you Love, it's NOT WORK.