I'm reading The millionaires' booklet, by Grant Cardone about 25 times. Why? My 10x goal is to build a $ 250 million empire that will help build the communities in which I grew up.
Grant Cardone says that Millionaire is the new middle class. The middle class is dead. To have financial prosperity, you have to be rich. You need money to fund your goals, help your community and donate to your causes. Understand that this is not about greed or complacency.
Become super rich
To become super rich is to reach your financial potential and help others. These museums, hospitals and leisure centers for young people are not built by the poor. Scholarships and grants are not awarded by indebted people living on paychecks.
To become super rich is to create a family for financial prosperity. It is about creating wealth that will leave a legacy. It's about giving and helping to elevate people's lives. This is to fund the activities of your church or community.
Here are the 8 steps of the millionaire's booklet:
First step: the millionaire decision
You have to decide to get super rich. Get involved now and put your stake in the ground and say, "I'm going to be very, very, very rich one day". Your decision and your constant commitment to this decision is the most important thing you can do for your financial future.
People spend more time deciding what to wear, where to eat and who to watch on TV than with their finances. They are satisfied with the lie of the middle class. They are comfortable. Comfort is the enemy of progress. Put aside the notions of, "Just enough", "To get by", "I am better than them".
Step two: do the millionaire math
First, decide to get super rich. Then you have to do the math. The truth is that most people will earn a million dollars in their lifetime. If you have a stable job for 20 years at $ 50,000 per year. You would have earned $ 1 million. Sell your home plus your retirement savings and you could come in contact with a million dollars.
What will you need to earn a million dollars now? You have to do the math. That means you have to find a vehicle that could bring you to a million. Is it your job, real estate, sales, your business? Will you need a promotion? Can you add other symbiotic sources of income to what you are currently doing?
Step Three: Increase Income
You get rich by increasing your income. It is not by saving or investing. You first increase the income. INCOME IS KING. Income is your only way to start building wealth. Nothing can ever replace income. It is the path to wealth. The star athletes and artists go bankrupt because after the end of their contract or their role in the cinema, they fail to generate income.
There are many ways to generate more income now. Get a second job, sell all that stuff you don't use, get jostled, start a business with your skills or find a way to increase your income from your main source.
Increase your income in increments. You are not going to go from $ 2,500 a month to a million dollars a night. If you earn $ 2,500 a month, make your new goal of $ 3,000. When you reach that goal, make $ 3,500 or $ 4,000 your next goal. Keep on going. The key is to save your increases (step 6).
Fourth step: who has my money?
Simple … Who has your money? To increase your income, you need people with money or access to money. Find people who can pay you for your services. Your new mantra is, "Who has my money?" Spend less time with bankrupt people and spend more time with people who can increase your income. Find a need, fill it and get paid for it.
Step Five: Staying Down
You hear me. Stay down! Do not increase your expenses as your income increases. Have a monthly cash plan. Know how much money you spend each month. People receive increases every year and yet they are in financial crisis. Reduce your expenses and increase your income. Do not take on more debt unless that debt can increase your cash flow.
Staying broke does not mean being poor. It means maintaining a budget that will help you get super wealthy.
Step Six: Save Everything
Save to invest, don't save to save. Investing money (from increased income) is the way you get to the super wealthy. The reason I was able to save $ 10,000 in six months from a new income stream is because I saved all of my income increases, tips and bonuses. I remained broke as in step 5 and canceled all of my income increases.
People never create wealth because they never invest enough in a deal to be profitable. As your income increases in increments, record all of your power surges, bonuses and extras that come into play. Stay down and save the rest for a big deal. It also gives you time to learn how to find big deals. I label my sacred account "Big deal".
Step Seven: Multiple Income Flows
First of all, you increase your income. Then you will find ways to add multiple feeds. The easiest way is to find symbiotic ways to increase your cash flow. Where can you find other cash flows at your current job? Do you miss their opportunities in your current business? Expand your product range, offer more services, get more advice or use your bonuses.
Stage eight: repetition, strengthening and hyperfocus
Wash, rinse and repeat. By following these steps, you will be heading to Super Rich and earning a million dollars sooner than you thought possible. To pick up The millionaires' booklet, by Grant Cardone.