Uncategorized

How To Properly Manage Your Money Like The Wealthy

Sharing is caring!

How To Properly Manage Your Money Like The Wealthy I think that that says something because what I’m going to be doing today is I’m going to be talking about something that the wealthy do that the poor don’t get. But you know what? The middle-class doesn’t get it either. Today, I’m going to share with you how the wealthy manage their money. And if you make a couple of tweaks, it’s going to change everything for you.Do you know where you learned about money? You learned about money from mom and dad and the friends that you hung out with and the people’s homes that you went to the neighborhoods that you lived in. What life was like in your neighborhood. And if you kind of grew up in my house as my sibling, you would have learned that making money is hard, you got to put in insane hours, it’s really hard to be a business owner. You’d learn that you’re going to have to acquire debt to get ahead. But debt is something that you’re going to fight over like crazy.Those are some of the things that I learned about mone. Now, I don’t know about you but wealthy people learn something very different about money. And for me to have become wealthy, I had to create an entirely different mindset. And hands down, my first financial mentor certainly taught me things like money magnifies who you are. Like money isn’t good or bad, it’s neutral. It’s a tool, it actually just magnifies your own belief. So, if you’re a douche then more money makes you a bigger douche. And you know, if you’re a super kind person then more money makes you more mother Teresa II, right? But more than that, it’s what the wealthy are doing with their money that we’re talking about today. So, there’s a technical conversation as in money comes in, where are you placing it? And today, I’m going to be giving you 3 models.This is um… This first little bit is pretty well-known. If you look at how the world’s wealth is distributed as a whole. You have 5% of the world who are living off of what’s called generational wealth. So, these are wealthy. And this means the Wealth’s already been created. And they don’t have to work for money. Money most definitely works for them. Then you have 15%of society. And this is your middle class, right? Your middle class is your hard-working business owners, executives, people that are doing more or less above average. And they’re also making certain choices with their money but they are operators. They got to work to get paid. And then you have 80% of the rest of the planet. And I’m just going to use the word poor. Meaning average or less than average where they’re also doing certain things with their money. But all 3 of these people, when they get money in their ecosystem they each do something different with it. And today, I’m going to show you exactly what that is. Okay, so first of all, if we’re talking about the poor, normal average-working class below the middle-class level, these are the individuals that when they get a check, which it’s because they get a job, they work for 2 weeks then they get paid and they get a single check. And what they do with that check is they deposit it in their bank account. And from there, they do everything. The money goes out for this, the money goes out for this. It goes out for this. Money never comes in. It just goes out for this, it goes out for this. So, they have a single source of income.The money goes into a single place and this is where they live life and they cut all their expenses, right? If you’re doing this then there’s a tweak that you’re going to need to make here because this is highly problematic. What I want to show you which I think will be kind of a leveled up revelation is what the middle class to do with their money. And if we’re talking about the middle class and those that are business owners, first of all, when they have checks come in emphasis on the “S”. They don’t have a single source of income. They have other revenue sources. And when that money comes in, the first thing that it does is it goes into a business bank account. And that money doesn’t flow into their personal. It flows into their business. Now, from there, it’s going to flow into their personal. But guess what? They also have taxes to pay because they’re a hyper-productive member of society.So, they’ve got a tax account. And then the last thing that they have is they have their business expenses. So, this looks a little bit different than the last scenario. The money comes into a central source. Some of it goes to pay for business expenses, some go for taxes and some go then to their personal life. Just the fact that the middle-class has these different bank accounts means that all of a sudden, the money starts getting cut up and used in leveraged differently. Now, this in itself is pretty cool.Now, check out what the wealthy are doing. The wealthy, they also have checks coming in. But they have usually, even more, checks coming in. And just like before, you’ve got your business account, business expenses. Your home account, your tax account. But for the business, they’re now building a war chest. Which means they’re thinking ahead. Just like my bank account wants to have you know, 3, 6, 9, 12 months worth of emergency funds. You do the same thing for your business so that if the right opportunity comes along, you can snap your fingers and boom, you can make it happen. But check out this. Now, they start opening up their investment accounts. And investment accounts can lead to several things. For example, real estate. Every month, that check comes in a percentage comes right in all of it comes 100% here, a percentage goes to the tax account whatever their brackets at. A percentage comes here for the expenses. Then apart goes to war chest a part goes to home account. And then boom! They’reactive investment accounts. A portion of it right into real estate investing.Producing financial freedom from real estate they might have it coming down here and saving money in their sophisticated life insurance program. By the way, these people don’t put their money in a bank. You put your money into the whole life insurance policy and you treat it like a bank. Not for the death benefit. The living benefit gives you 5% dividends on average, tax-free growth, your money becomes untouchable. So, they’re not… By the way, I help people get that started. That’s in a link below here. But you got your life insurance then you have your alternative investments like, “Oh, I’m going to invest in this, I’m going to invest in that. I’m going to put 25,000 here. I’m going to put100,000 here.” And they’re diversifying and getting themselves out there. And they might have their own 501 3 C their charitable system or different companies that they’re giving money to for nonprofits. This whole system, I want you to ask yourself. When your money comes in, do you know how to slice it up? Because I’m telling you what the wealthy are doing. The wealthy have every dollar come in and they know exactly all the places where it goes. They disperse it. And you’re asking yourself, “Well, Kris. When you check to check, you can’t do that.” Exactly. We stopped being checked to check. Start paying yourself. Grow some ambition and put yourself out there. Start making something happens. Get a side hustle, a side gig. Buy a piece of real estate. Make 100 grand like do something that gets checks coming and then learn how to maneuver that money in a manner. Because I’m telling you right now that if you cut up that money, it’s like, “Whoah! I got a little bit of money sitting there for my alternative investments. Whoa! I got some money sitting over here for my next real estate deal. Whoa!”And all of a sudden, guess what? If you want to become wealthy, you have to act like the wealthy and this is what the wealthy do with their money. Hey, thanks so much for watching today’s video. I hope it was super useful for you.Listen, if you’re like, “Kris, where do I get started? I need to slam an extra hundred G’s in my bank account.” Then I would say get started with the real estate out of my free book here. I printed a bunch of extra copies and while supplies last, I’m happy to give you a copy of it. All you got to do is click the link below. This will share with you my simple system for buying a home that will pay you 500 extra dollars a month. But 5 grand immediately in your bank. And 50to 100,000 dollars in your bank account from sales in the next3 to 7 years. So, hopefully, that’s a useful gift for you. Other than that,

Leave a Reply

Your email address will not be published. Required fields are marked *