Secret To How To Get Rich
Only buy “non assets” with 3rd level income!
Level 1 income (Income from Job or primary income source)
Level 2 income (Income made from level 1 income investments (Stocks, rental properties, etc)
Level 3 income (Income made from the profits of Level 2 income)
How you get rich example:
You make 75k a year (Level 1) and after a few years, you invest 25k into a rental property (asset) (100k property with 25k down)
You make $5000 from your rent minus expense (mortage, etc)(Level 2)
Next, you invest that $5000 in the stock market (asset), or another income producing asset.
You make $500 from that stock during the year (Level 3), and now you can spend that $500 on something stupid that doesn’t make you money (non-asset).
All the while, you have your rental property still making money, plus the additional $5000 still in the stock market… which will produce even more Level 3 income.
As your Level 1 Income increases, keep investing more into Level 2 income. As these grow, so does your level 3 income and your ability to buy luxuries that you don’t really need (non-assets).
Rinse & Repeat
#howtogetrich
#ytshorts
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