Publisher's Synopsis
Living a Middle-Class life is the fastest way to get yourself and your family into debt. Don't worry; I am not judging anyone because I have been there, and done that. A new house, two cars, school expenses, vacations, child care, maintenance, etc., are things that cost a lot of money. Everything costs money. But there is a way to escape this life and become wealthy- and it's not that difficult. You only have to read books and become financially educated. Yes, that is all.
Once you learn to spend your money on assets, that in turn, produce income for you, then you are on your way to becoming wealthy. We are now 40 years old, debt-free, with a dividend portfolio paying us $500/month. All we have to do is repeat this for the next 40 years. Here is how we did it. 1) I read 41 books in 2 years, and we become debt-free and prosperous- coincidence? I think not. 2) Mailbox money is also known as passive income. It is the idea that money will just show up at all times of the day. However, you need financial education to build your portfolio of Mailbox Money. 3) Should you start investing or pay off debt. I have my own opinion, and it may surprise you. 4) The best book to read to start recovering from debt is "I Will Teach You to be Rich." I gave my five takeaways. 5) The best book to adjust your financial mindset and lifestyle is "Rich Dad Poor Dad." You will learn the difference between assets and liabilities and how the rich "make" their money. 6) We make $1,600/month by renting out our two master suites- this equates to $50/day. You can become rich very quickly when you are bringing in this type of passive income. 7) Once you become financially savvy, there are ways to create money out of thin air. Writing a book is an example. But there are many other ways to build assets and start printing money. 8) When you have an asset but none of your own money tied up in it, you have an infinite return. The faster you get your money out and into another asset is called the velocity of money. 9) Working an earned income job puts you in the worst income tax situation. There are three types of income, and knowing the differences will set you free. 10) My wife and I pay zero out-of-pocket costs for our homes; someone else pays for them all. This has allowed us to become rich, and you can do the same. You just have to learn how to share. Whatever your debt number, financial education, taking action, and living a life with more love (and less stuff) will set you free!
