Wealth is an elusive muse for most of us. We have been trained since childhood that we need to hit certain wickets in order to achieve great wealth. Those things are ideas such as; go to college, get a good job, invest in your 401K, buy a house, and keep minimal debt. Yes, those things will lead to having a successful life. But for the most part, these ideas do not lead to great wealth. So what is everyone doing wrong? Nothing. No one who is following these steps is doing anything wrong. Think of these ideas as the first step on the road to wealth. This is where, hopefully, most of us begin. We are trying to do the right thing. Trying to live inside these guidelines for success.
I can speak from personal experience. I lived by these guidelines. Instead of going to college, I joined the military. I worked my rear-end off in the military and got promoted. My wife worked her way up from a $6.90 an/hour job to a $20 an/hour job. Combined we were making around $130,000 a year. This is great money, and money I would have never dreamed of making in my lifetime. However, we were still getting by very cautiously. I remember, we had a $2,000 car repair and it made us financially uncomfortable for two months. We had worked so hard, why was $2,000 so crucial for us?
I always wanted to be the guy that provided for his family. I do not want my family to NEED anything. We are not crazy spenders, but it would be nice to buy my wife nice things from time to time. I just couldn’t understand why I always seemed to be a step behind life. I always had to prepare so much in order to get the things we wanted. But, I finally got my chance to change things.
One day, Kris and I were brainstorming about cash flow and we came up with the idea to rent out our guest bedroom for $500. That was the catalyst that started the change in our lives. From that moment on, we knew what we had to do, and why it needed to be done. Having that extra $500 coming in helped give us the buffer we needed to make life-changing moves. Along with the $500, we learned the words “PASSIVE INCOME”. Learning everything about this word lead me down the rabbit hole of stocks, bonds, interest, dividends, real estate, rentals, and business. These words resonated with me and I was mesmerized by how other people lived. I felt as though we had discovered a whole new world. And we had. Within 20 months, we now have $50,000 invested in the stock market, 3 homes, and are starting to get into our business. Better yet, each month, after all our expenses are paid, we have around $9,000 of free cash flow remaining. A lot of this money goes into investments, but, my wife can also buy nice things if she so chooses.
I do not write these things to brag. Actually, the exact opposite. If you can read these words and take action, you will shave off many years of being average. On the road to wealth, there are only 3 routes. The “NO WAY”, the “SLOW WAY”, and the “GO WAY”. Most of us are on the slow way. We are playing by the rules we were taught. We haven’t invested time in our financial education. We do not know about stock market investing, real estate investing, and creating businesses. In order to get on the “GO WAY”, you will have to invest in yourself. Do not worry if this doesn’t sound too exciting. It isn’t for most people. Most people (97%) will not choose to go down the “GO WAY”. And that is a real shame because the feeling of being financially comfortable is amazing. My wife and I still have a ways to go. I plan on having my wife retire at the age of 40. That is what is great about taking the “GO WAY”, you make choices that affect your real life.
Being able to buy homes, raise rents, invest, lower property taxes, etc. makes you feel as though you are in control. Knowledge is power. Knowledge is wealth. I have a detailed list (and review) of all the books that I have read. These books have given me the financial confidence to accomplish goals I would have never thought that I could. Do not live your life in the “SLOW WAY”. Life is too short to have to save up for a $2,000 couch. My wife and I chose to drive the “GO WAY” and it has brought us closer together. We always have a new scheme on how to increase income or lower expenses. We are running parts of our lives like a business, and other parts as soulmates. No longer do I have my work and she has her work. We are now unified in our journey towards financial independence. And I love her more every day because of it! Please, join us on our journey.
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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