Financial Advice on How To Be Rich
Kris Krohn here on Limitless TV and today we’re talking about the specific steps and rules for creating wealth. Hang tight and buckle up, it’s going to be an awesome ride. Today I’m going to be compassionately calloused because I’m not here to worry about your feelings, I’m inviting you to be open to this feedback. If you’re watching this video, let’s talk about the reality that some of us will go on to create massive value in the world and some of us will go on to create nominal value and the difference between those that create massive value and those that create little value comes down to one thing, selfishness. It’s so weird to think that people that are financially successful are sometimes the most selfless people because they’re being selfish about where they get in life. I know, crazy, right? Sounds like a crazy paradox but let me break it down for you. The only reason anyone takes a job is to get a salary and the only way you can make a difference is if you have enough money to make a difference. A salary does not mean lots of excess money to make a difference. So how do you create a new source of income? That’s where we’re headed in the next part of this video but understand what I mean by the selfishness first. I want you to understand and internalize this concept that people that are just doing a job and creating nominal value, are only going to receive nominal results but if you want to be successful, if you want to create massive results, if you want to create massive value in the world and you want to be compensated different by the world, if you want to be a successful entrepreneur then you’re going to need to learn how to create way more value in the world which means we’ve got to look at selfish a little differently. Get good grades, go to college, get a job work for somebody else, struggle to financially get ahead, work for 40 years trading all of that and who are you focusing on the entire time when you can’t get ahead? You. I call that selfish and then when you retire, you’re relying on charity or maybe a job. Thank goodness Walmart offers jobs to to older people, right? And yet, what are you still doing in your retirement? Focusing on who? You’re focusing on you. Now I believe as a Christian or under any faiths principles, that you and I have the ability to do good in the world whether we are rich or whether we’re poor. We all have the ability to create value that way but that’s not what this video is about. This video is about creating resources beyond what you need and that my friends is selfless. It’s not about how do you live in a nicer home, increase your lifestyle, drive a nicer car. I’m talking about how do you create resources beyond what you need and that is one of the most selfless things that you can do. You want to leave big impact on this planet, you want to leave a legacy, you want to do something, leave a big footprint then you need to find a way to either earn resources or cultivate or collect or gather resources beyond what you need and that takes a selfless person that wants to create far more value in the world and I’m going to share my rules for exactly how you do that. So the best advice that I can give you for creating wealth is about creating multiple streams of income. There’s a lot of people that get really attached to one way of making money or a second way of making money but the reality is, every single time you set up a business, whether it’s making you a million dollars or a hundred dollars a month, guess what it is? It’s a stream of income so I value multiple streams of income and I don’t judge the greater ones is better than the lesser ones because what I love is to see how they accumulatively all come together. Now in my life, starting businesses can take money so I put my money into real estate and I allow real estate to fund my business. Buying a home that produces an extra $250 a month cash flow, that’s freedom, those are freedom dollars, $250 that’s not enough to retire but you know what it does? It means that at the end of the month, there’s an extra two hundred and fifty dollars that I can roll into my next stream of income. There are so many projects and business ideas that don’t take a million dollars a hundred thousand dollars or even ten thousand dollars, some of them take a very small amount of money and so for me, I will get one stream going and then once it is steady, I’ll immediately use my resources to create a second and when it steadies, a third and so I’m always in the mode of creation and launching because also means that I don’t have any single points of failure in my life. You want to create wealth then don’t put all your eggs in one basket. Even in real estate, I own a lot of different types of homes and I do lots of different strategies. One of the things that people on our YouTube channel love to do with me is if you click the link below, they take my lease option life course. This is the A to Z, the contracts, the everything on how less than a thousand dollars is all you need to launch your business and get into taking a small money or even no money and turning it into a lot of money but it’s not so that you can have a payday of $20,000 or $50,000 or $100,000, it’s to roll it into your next creations, your next business investments. This is exactly what Warren Buffett did, this is what Donald Trump did, this is what some of the most successful people out there have done and you look at Bill Gates, he’s not the computer guy, that guy has created now thousands of products and all of them share this one thing in common, multiple streams of income. Get the first one set up and launched, let real estate fund it and then go ahead and move to the second, the third, the fourth, the fifth and so on. That is probably one of the best strategies that I can give you for doing that and if you don’t know where to start, click the link below and I’ll give it to you in the most concise way possible to start taking immediate action to establish your next stream of income. So much more advice that I want to give you, there’s only so much that can be crammed in a short video so guess what? Subscribe so I can get a whole lot more coming your way and even click that little bell button cause what it’ll do is, it’ll allow me to notify you every time a new video hits the account.