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November, 2008
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Building Wealth
Accumulating wealth—as distinct from just making a big income—is the key to your financial independence. It gives you control over assets, power to help shape the corporate and political landscape, and the ability to ensure a prosperous future for your children and their heirs….
Rev. Jesse L. Jackson, Sr. and Jesse L. Jackson, Jr.,
Before you can create wealth, you must fully understand it.
Do you really know what being fiancially free and living your life in abundance is?
The majority of people look at and define wealth incorrectly.
Wealth has nothing to do with how much money you earn, the size of your house, how many cars you might have, or the amount of vacations you take per year.
Someone making $500,000.00 per year can be less wealthy than someone who is making $75,000.00 per year.
What is the concept of wealth?
For starters, wealth is NOT: * How much money you earn or can earn
* How many houses, cars, boats, etc. you have
* How many fancy or exoctic vactations you take
* Only about your net worth Wealth is actually the number of days, weeks, months, or years that you can sustain the same lifestyle or better if you were to stop working right now. That is what Wealth is !!!!
Your wealth is determined by: * Your lifestyle (Monthly expenses)
* The value of your liquid assets
* Your "Monthly Passive Income" The key to financial freedom is to create enough "Monthly Passive Income" so you may quit your job, and continue to live the same lifestyle you are accustomed to without depleting your assets. To live a life of financial freedom and abundance is to continue to generate greater "Monthly Passive Income" beyond what is needed to cover the lifestyle you are accustomed to. Yet Another Stream
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Added by Rob Schumacher on April 23, 3:57 PM.
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