How to attract wealth efficiently in America!
Glad to see that you stumbled on this article well I’ll try not to waste your time. If you want to attract wealth in America you MUST treat your financial life like a business! You must treat your financial life like it’s your own personal business, you must treat your financial life like it’s a business you must treat your financial life like it’s a business!
You might want to repeat the above paragraph to yourself until it becomes a part of you. So what does it mean? what does treating your financial life like a business mean? If you start a business your FINANCIAL PROFIT is dependant not on how much money you make but on how much money you SPEND to make your financial profit!
As an example if I make a million dollars($1,000,000) in a year but the cost to make this million dollars was Nine hundred and ninety nine thousand nine hundred and ninety nine dollars and ninety nine cents ($999,999.99) your profit for that year was only 1 cent.
How does the financial example above relate to the laws of attraction?
If you make a lot of money and spend just as much money as make in the process you will not efficiently attract wealth into your life. The definition of financial wealth is how much money is YOUR money making.
Your wealth should be independent on any debts you owe! This is another thing most people confuse. What is a debt? A mortgage is a debt, a car loan is a debt, a credit card with a balance is a debt, a personal loan is a debt. Any bill that obligates you to pay another is considered a debt. In America the government has trouble collecting money from the wealthy because the wealthy OWN their own money. The truly wealthy don’t have to worry about market swings, market crashes, inflation or deflation because they own and stay out of debt.
Attracting wealth versus attracting riches
Wealth should never be confused with riches. As example a novice real estate investor who borrows money from the bank to invest in real property is a debtor until that real estate investors repays the bank in full. So if that real estate investor as an example borrows $100,000 from the bank to purchase a house and the mortgage for that house is $500 and the real estate investor rents out this house for $800 and collects $300 this doesn’t make the real estate investor wealthy. Why?
Because this real estate investor is still in debt to the bank and until the bank receives it’s $100,000 paid in full this real estate investor is still subject to market swings, market crashes and other unexpected liabilities that may arise while he or she rents out this house.
Now if the property appreciates in value to say $150,000 and the novice real estate investor sells the property for $150,000 and pays the bank back in full and the novice real estate investor collects $50,000 in profits that 50,000K would be the real estate investors WEALTH and if in the process that real estate investor managed to save the $300 EXTRA dollars made from collecting rents that would also contribute to the investors wealth.
Now for most people depending on their EXPENSES $50,000 could last them at least 1 year if not 2. However if a person allowed the EXPENSES in their business to get out of control $50,000 won’t seem like a lot of wealth to them. Which wouldn’t help them to attract any more wealth.
If you want attract financial wealth you need to get your costs, liabilities and expenses under control.
The moment you start making money you need to do your absolute best to eliminate as many costs as possible. You need to start asking yourself how much money did I spend to make this paycheck from work? How much does it cost me to live every month. When you start watching costs, liabilities and expenses you’ll start to better understand how to build wealth. Anyone can build riches in America but it’s hard for most people to hold onto their riches because the moment most people make any money the first thing they do is they go in search of liabilities.
The first liability the average rich person finds is a house. A house carries hefty liabilities like maintenance, property taxes, mortgages, energy bills and unexpected things. The other liability trap most people fall victim too are auto loans, which also come with maintenance costs, insurances, gas and the unexpected expenses.
Lets not forget our beautiful children, back in my day parents didn’t spend as much MONEY on children as the parents of this generation spend daycare costs alone can add up to thousands of dollars, if you’re not wealthy don’t spoil your children teach them how to work, make them do chores around the house let them know that mommy and daddy aren’t rich. Children love challenges and if you engage with your children and teach them keeping your costs of living down your children somewhere down the line will grow to thank you for showing them what life in America is really all about.
It’s hard to attract wealth efficiently in America if you don’t manage your costs of living! When you own your money it’s easier to attract more money. Picture yourself with a million dollars in the bank and picture yourself doing whatever it takes legally to make that million dollars grow, envision yourself will minimum expenses and liabilities. Now this doesn’t mean that you can’t go on vacation no what this means is that when you go on your vacation you’re doing it with NO LIABILITIES, NO DEBTS and no unexpected costs that would compound you financial difficulties if you went on this vacation while you were deeply in debt.
If you already have money and you feel stuck with what to do with it and you’re not a good investor right now put your money in the most safe and liquid investments you can find. Put your money where most people in your city, town or state put their money. Why you ask? Because those are the places that usually get bailed out if disaster strikes. When the last market crash happened the government bailed out the big banks calling them too big to fail however the stories that didn’t get attention were all the small financial institutions that did fail. If you’re not a sophisticated investor put your money in the place that you’d expect to get bailed out by the government if the market crashes!
Even if these places pay you a small return at least with this knowledge of watching costs, liabilities and expenses you’ll be better able to attract more wealth into your life. Of-course as your money sits in these safe liquid places you can find other ways to multiply your wealth quicker at your leisure.