How Most Millionaires Became Millionaires

Millionaires in this country have not built their wealth working a W-2 job. Nearly all millionaires have worked a W-2 job, but quickly learned that is not the way to become wealthy.

Here is what they know that you do not.

Cash is not wealth. You do not want cash. You want assets. Assets appreciate with inflation. Cash depreciates with inflation (inflation is over 17% just the last three years alone.) When you earn cash, it goes into an asset that appreciates, or it will depreciate. The people who experience the most wealth are people who own assets that throw off cash flow, not cash. In short, you need to earn cash, invest it in assets, and continue that process until anything you want to buy on a monthly or annual basis is easily paid for by your asset cash flow. Notice how throwing everything in the stock market till age 65 does not at all fit with this plan? A 401(K) or IRA is the poor man’s retirement plan.

Taxes is the #1 enemy of wealth. Not the economy, not inflation, not volatility. The single greatest expense you will pay in your life is taxes. If you fail to learn the tax game and play it to win, you will miss out on lifetimes of wealth you could have had if you\’d simply made the right moves. You cannot simply make money and pay your taxes. You need a strategy for growing your wealth, and how you approach your tax plan is a crucial piece of that puzzle. Earning income and paying taxes is a completely different game from building wealth and paying taxes. You must master wealth-building tax strategy or you will never experience wealth – you\’ll lose too much of it to taxes along the way to ever get there. You must combine tax strategies with wealth accumulation strategies.

You\’ll never feel wealthy if your wealth depends on factors far outside your control. The rate of returns on your investments are important to wealth, but the experience of wealth cannot truly be enjoyed if the numbers are not in your control. This is why you want to invest in assets that you not only thoroughly understand, but that you 100% own and control. Not a share of companies that you hope will do a good job. Not a new and shiny opportunity that promises accelerated returns. You need to invest your money where it makes sense personally to you, and where you understand the levers that control your returns.

For you, to become a millionaire, this means investing in real estate and small business ownership.

Further, it means starting a business investing in Lifestyle Assets. Investing in properties that your family enjoys visiting. It is positive cash flow passive income, with capital appreciation.

If you would like me to teach you how to increase your wealth, through lifestyle investing, please set an appointment, with me, through my team.