If it’s your first time being here, Welcome to the community!
Over the next 3 days, I’ll post one update per day with some of my best ideas on taking charge of your money and life.
If it’s not something that interest you, you can stop reading right now. (See, I make things easy for ya.)
Still here? Good.
You’re one of the elite few. The chosen. The awesome.
Wealth Ideas is different than most other websites.
We promote a few radical ideas:
#1: You can create financial freedom — the ability to quit trading-time-for-money, because your investments cover your bills.
#2: Financial freedom comes from building streams of recurring, passive income.
#3: You build this by minding “the gap” between your earning and spending. Grow the gap. Invest the gap. Repeat.
Once you figure out the money piece of the puzzle, your choices and options explode.
- You don’t have to work in a crummy cubicle.
- You don’t have to punch a time clock.
- You don’t have to serve irritating clients.
You can buy a vacation home, switch to a more fulfilling career, or spend more time with your kids.
Here’s a list that summarizes seven of Wealth Ideas’s bedrock principles.
This list might make you a millionaire … or at least, richer than you are now. 😉
Here we go!
#1: You Can Afford Anything. You Just Can’t Afford Everything.
Don’t tell me your values.
Show me how you spend your money, and I’ll know what you value.
Don’t tell me, for example, that you “can’t afford” to save, retire or travel you’re simultaneously buying nice clothes and hitting the bars.
There’s nothing wrong with clothes and bars if it’s a deliberate, conscious choice. But don’t claim that bigger goals and investments are out-of-reach.
Spend with your eyes open.
Don’t utter the self-defeating phrase “I can’t afford it.” That’s weak. It’s disempowering. It’s a limiting belief.
Instead, ask yourself: “How do I afford everything else? How do I afford my iPad? My car? My restaurant habit?”
There’s nothing wrong with buying an iPad and enjoying a five-star meal.
The problem emerges when you blindly adopt those habits while claiming that you “can’t afford” to invest.￼
#2: Look for Answers, Not Obstacles.
You can accomplish pretty much anything (with the exception of, say, colonizing Jupiter or understanding why Celine Dion is so popular.)
It won’t be easy. It won’t be fast. But you can make sh*t happen.
Fist-fight your limiting beliefs. Instead of saying “I can’t,” start phrasing your questions with, “How can I?”
- Instead of: “I can’t save another dime.”
- Try: “How can I shave an extra $50 from this month’s spending? Or EARN an extra $50?”
- Instead of: “I can’t find any good real estate investments nearby.”
- Try: “How can I find good real estate deals? How can I get comfortable with foreclosure auctions and short sales? How can I invest in other cities and towns?”
#3: Money Doesn’t Buy Stuff. It Buys Choices.
It’s fashionable to make trite statements like “money isn’t everything,” “money doesn’t matter,” or “I’d rather be happy than rich.”
Those sentiments, frankly, are baffling.
Why would most people work 8+ hours everyday, only to turn around and claim “money doesn’t matter?”
Clearly it does matter; that’s why most people wake up to an alarm.
When people say, “money doesn’t matter,” they’re trying to say, “buying fancy crap doesn’t matter.”
That’s a sentiment I endorse. But it also misses the point.
The highest and best purpose of money isn’t to fill your life with $980 diamond-encrusted headphones (yeah, that’s a thing); it’s to maximize your choices and freedom.
Want to switch jobs? Let one parent stay-at-home? Move to the beach?
You’ll need cash.
I’m not saying you need millions. But you’ll need some money.
Money (in sufficient quantity) gives you the freedom to quit your job, if you choose.
Once you have enough investments, you’ll decide exactly how you spend each day.
You can choose to keep working, if that’s your calling. Or you could choose to stop.
Your decision is entirely in your hands, and “How can I buy groceries?” isn’t a question that enters the picture.
You’re exercising choice.
That’s why money matters
#4: The Best Thing Money Buys is Time.
You can choose to spend you money however you’d like.
But I recommend you spend money buying the world’s most rare, precious asset: Time.
Money is unlimited. If it slips away, we can make more.
Once time is gone, it’s gone. Time is our most limited — and therefore our most valuable — asset.
Why squander time while clutching onto pennies?
The best use of money is to buy back your time.
At the day-to-day level, this means you shouldn’t be an extreme cheapskate (unless it’s genuinely need-driven).
Don’t squander your Saturday visiting three grocery stores because bread is cheaper at one, bananas are cheaper at the second and milk is cheaper at the third. Don’t waste hours clipping coupons.
Spend the extra $20 or $30 buying all your groceries in one spot, so you can spend the afternoon kicking a soccer ball with your kids in the backyard.
Spend your money buying back your time.
#5: Rebel Against the Norm.
Society holds strange expectations around how we should spend our money.
If we spend $15,000 on a Honda Civic, nobody questions the purchase. No one asks, “How could you afford it?” or exclaims, “Wow, you’re soooo lucky!”
But if we spend this same $15,000 on a scuba-diving trip through the South Pacific islands, people raise eyebrows.
They assume we’re filthy rich, or we’re up to our eyeballs in credit card debt.
Nobody seems satisfied with the simple, honest answer: “I spent less than I earned.” Or perhaps, “I earned more than I spent.” (Either way, you’ve grown that “gap” between the two.)
If we buy a house, nobody questions the purchase. But if we buy an investment property, people raise eyebrows. “Are you some fancy-pants investor? Where did you get that kind of money?”
We’re spending the same amount of money as our next door neighbor, but we’re buying different things. They bought a boat; we bought investments.
Society says that’s weird. They’ll ask questions and make assumptions. Be okay with that.
You’re part of a rebellion.
If you spend the way that everyone else does, you’ll carry the same debts that they do.
You’ll work until you’re 68, then look back and wonder: “Is this all there is?”
You deserve better.
#6: You Make Money Going Into the Deal.
Speaking of not following the crowd –
Do you hear people say things like:
- “Damn, this stock dropped. I’ll hold onto it until it comes back up.”
- “I paid too much for this house. But that’s okay. I’ll make it back when I sell it.”
- “I don’t know the cost of maintaining this rental property. But if it’s high, I’ll just raise the rent.”
Here’s the hard truth:
- Your stock doesn’t care whether or not you ‘break even.’
- Your homebuyer doesn’t care what you paid.
- Your renters don’t care about your overhead.
Your investments don’t succeed in the future. They succeed in the present, when you score a sweet deal on an undervalued asset.
If you’re hoping that a house or stock “hopefully rises in value in the next few years,” you’re speculating, not investing.
Want to be an investor? Start with one critical truth: You make your money going in, not coming out.
#7: Never Underestimate the Power of Heart and Hustle.
My final lesson (for now): Stop making excuses and start hustling.
Think of your potential income as unlimited, not fixed. Look for answers, not obstacles. Think abundance, not scarcity.
You are powerful. You are unstoppable. You can create anything in your life with enough heart and hustle.
P.S. — I’ll be launching a real estate investing course in November. Hop on the VIP Early-Bird List to get involved in the creation, hear early announcements about the release, and get special access to pre-launch goodies.
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