As Robert Kiyosaki said in “Rich Dad Poor Dad”, the Rich do not work for money. Reading through the book, the reader finds out that the rich acquire assets that produce income for them. They are always on the hunt for assets, investments, and ventures that will give them an amazing return on their investment. Eventually, they reach the pinnacle of financial success by achieving an infinite return on their investment. This means that they have zero of their money in the asset, they still own the asset, and it is producing income for them. That is the ultimate goal of investing.
I can already hear the comments, “But it is easy for them to acquire assets because they already have money.” Yes, this is a true statement. But that does not exclude anyone from making money from nothing. Yes, assets can be created from thin air. All it takes is financial education.
There are two main ways to create assets easily. There are many more, but they require extreme financial education, and they are beyond the scope of this article. The ways are leverage and creativity. Leverage is using debt to obtain assets or start businesses. If you do not know how to handle money, then avoid this method. Creativity is another method, but it requires an audience. Let’s explore each of these methods.
Leverage. Take a look at this video (here). It explains how to build your fleet of rental cars on Turo leveraging your credit score alone. Same thing for using the VA Loan to buy a multi-family home. Also, my favorite is renting out spare rooms. These are all zero money down methods to obtain assets. There are even more complex methods such as using business credit cards, business lines of credit, and business loans to buy large commercial real estate. This is detailed in the book “Zero Down” (here). You need financial education before you start to use leverage.
Creativity. Take a look at this video (here). This is my favorite example of an entrepreneur. This video probably cost $5,000 and took 1 day to complete. It has 6.5 million views and will keep produces money for years to come. The most important factor is that Lil’ Wayne has built an audience that he provides content for and monetizes. This is how we should view our own lives. We need to build an audience. It doesn’t need to be huge. There are many people in the world, so having 10,000 people engaged in your brand is very possible. From building an audience you can create content (with value). This can be anything such as poems, music, blogs, videos, study guides, language assistance, services, mentoring, tutoring, etc.. The possibilities are endless. The most important part is putting yourself out there, facing your fears of writing, reading, and speaking. This is why most people will not become entrepreneurs. There is a steep learning curve, but it has nothing to do with knowledge of business. It has everything to do with ourselves. We have to get past our own limiting factors. But I digress.
Putting them both together. Let’s do an example. Let’s say I am a mother of three trying to be an entrepreneur. I start a blog about raising kids and starting a business from scratch. I then document my journey on using leverage to start a Turo rental car business. I continue to document my journey until I have enough money to buy my first rental home. I then write a book about a home-based mother of three that built a business and bought rental property. Now it is time to start YouTube and tell my story. Mothers have one of the biggest markets and almost everyone wants to know how to earn money from home, without it being overwhelming. Most people probably want to earn $2,000-$3,000 a month from passive income. That would be her niche (specialty). Now you have an audience, a blog, a YouTube channel, a podcast, a Turo business, and a rental property. You can also become a mentor or consultant. Life is good. The first step is starting. There is ALWAYS going to be someone who wants to replicate your success, so first, you have to succeed.
I know that I make it sound easy. Honestly, it is. But only as long as you are truly motivated to change your surroundings and take charge of your life. The blueprint for this formula is everywhere. “Become successful at something, then help others become successful at that same thing, finally, become rich.”
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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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