Do You Know What an Asset Is?
Sure. People do know. It's quite likely that those of us here in WA are aware of what an asset is, at least more so than those who don't consider these type of things. Some THINK they know. Some folks have no idea what an entrepreneur is. Usually these are the folks that are not set on what an asset is. Somehow folks believe that their homes and cars are assets. Many people will differ with me here but please hear me out.
Is your home an asset? I'm actually going this route to prove a point about debt being as such. This will probably catch your interest at this point.
Banks Say Your Home Is An Asset!
You know what? They are being truthful about this. Your home IS an asset. The thing they don't tell you is that it is not YOUR asset ... it's THEIRS.
People have the mistaken notion that having the home is a necessity, therefore it's an asset. This is NOT what an asset is.
If anything takes money OUT of your pocket, it is NOT an asset - it's a liability. This is true with your car too whether or not you are still making payments on it.
How Can My Home & Car Be Assets?
If you can arrange to where these things produce income that exceeds the expenses they incur, they are truly assets. They MUST be directly in use to do this, not indirectly. Therefore, using your car to get back and forth to a job, which pays the bills, does not count.
Now - if you used your car as a taxi and with it you made more income directly from using your car than it costs to maintain payments, service and maintenance on the car and you make a profit from it, your car is an asset. Otherwise, it is not.
Same goes for your home. Rent out a part of your home, say a room, or having built an apartment off it, or on the property, and rent that out, and if the income from this enterprise exceeds the cost of having the home, then the property IS an asset. It boils down to this very simple statement...
- If it takes money out of your pocket - it's a liability.
- If it puts money in your pocket - it's an asset.
If you can't see this, you won't be able to see how this pertains to debt.
Here's what I've found in my studies about debt...
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WebMaestros
Premium Plus
I own a home improvent compay for 40+years. Some people in this business barely survive because their selling skills are horrible and some make over 50, 000 dollars per month.
I see the answer as very simple. Learn the skills here at WA--learn to sell (I don't care what any one says -to make big money you have to know how to sell) Don't be lazy go to work and learn your trade. Make a boat load of money and once the money starts coming in --do it again and again.
I know for a fact from my clients say that Kiosaki's realstate education doesn't work as it is sold in his books. "YOU NEED MONEY TO MAKE IT WORK" I service clients who own hundreds of homes and apartments and they laugh at the advice given.
Put all your efforts here make a ton of money and the rest will fall into place.
IT'S ABOUT REASONS AND RESULTS AND THE FIRTS ONE DOESN'T COUNT"
STAY FOCUSED!
I see the answer as very simple. Learn the skills here at WA--learn to sell (I don't care what any one says -to make big money you have to know how to sell) Don't be lazy go to work and learn your trade. Make a boat load of money and once the money starts coming in --do it again and again.
I know for a fact from my clients say that Kiosaki's realstate education doesn't work as it is sold in his books. "YOU NEED MONEY TO MAKE IT WORK" I service clients who own hundreds of homes and apartments and they laugh at the advice given.
Put all your efforts here make a ton of money and the rest will fall into place.
IT'S ABOUT REASONS AND RESULTS AND THE FIRTS ONE DOESN'T COUNT"
STAY FOCUSED!
Daniel Euergetes
Premium
I purchased a course on selling and now going through it. I invested in it from my first commissions from WA. These courses are on sales copy, however, Kyle's courses on here are amazing!
You are right. The reason I'm not selling any more than I am is because of how I'm putting out my content. The latest developments on here are invaluable for learning these skills. ...especially the Boot Camp. The other more recent courses are awesome too!
I got the courses from Paul Meyers, an Internet pioneer. It is enjoyable seeing this from a different perspective, yet it's the same outcome. Staying focused and consistent are the keys. To keep up with these takes discipline, especially when trying to work a job doing hard labour all day. That does knock a person down and all that much more determination to keep up online. At least now I do have a consistent income, though it doesn't support me yet.
You are right. The reason I'm not selling any more than I am is because of how I'm putting out my content. The latest developments on here are invaluable for learning these skills. ...especially the Boot Camp. The other more recent courses are awesome too!
I got the courses from Paul Meyers, an Internet pioneer. It is enjoyable seeing this from a different perspective, yet it's the same outcome. Staying focused and consistent are the keys. To keep up with these takes discipline, especially when trying to work a job doing hard labour all day. That does knock a person down and all that much more determination to keep up online. At least now I do have a consistent income, though it doesn't support me yet.
Daniel Euergetes
Premium
I've been through about five of his books. Some people are happy with the advanced education and others are not. The books are great primers on finance and how things on those levels are different than what most people do. The books are only meant to be eye-openers, and that they did for me!
Whether they are completely accurate or not isn't so much the value as they are exposing the fact that there are other ways to make a living rather than employment.
Whether they are completely accurate or not isn't so much the value as they are exposing the fact that there are other ways to make a living rather than employment.
tazimmer
Premium
The system wouldn't let me comment directly on your comment.
I am involved with The Palm Beach Letter's Wealth Builder's Club and they have a program about infinite banking which was written about by R Nelson Nash. His book "Becoming Your Own Banker" is a great read on this. I've also read "Financial Independence in the 21st Century" by Dwayne and Suzanne Burnell.
It's based on Whole Life Insurance. I know, I know, Life Insurance?? That is why it is so amazing. You set up the policy to minimize the death benefit and maximize the savings benefit. As your money builds you loan it to yourself and pay yourself interest. Soon you have enough to invest in income properties, new businesses, or other things to build the account even higher. When you get to retirement you can continue to borrow from the policy to fund your life tax-free (it is a loan and the government doesn't yet tax loans). It's a total win-win way to live.
And it is a way to create generational wealth since you can set up accounts on your children, pass ownership to them when you are older, and teach them how to do it also so they can pass it to their children. Also you can set up policies on your grandchildren as soon as you have some.
I'm just getting things set up but this is one of the things I plan to write about.
Tim
I am involved with The Palm Beach Letter's Wealth Builder's Club and they have a program about infinite banking which was written about by R Nelson Nash. His book "Becoming Your Own Banker" is a great read on this. I've also read "Financial Independence in the 21st Century" by Dwayne and Suzanne Burnell.
It's based on Whole Life Insurance. I know, I know, Life Insurance?? That is why it is so amazing. You set up the policy to minimize the death benefit and maximize the savings benefit. As your money builds you loan it to yourself and pay yourself interest. Soon you have enough to invest in income properties, new businesses, or other things to build the account even higher. When you get to retirement you can continue to borrow from the policy to fund your life tax-free (it is a loan and the government doesn't yet tax loans). It's a total win-win way to live.
And it is a way to create generational wealth since you can set up accounts on your children, pass ownership to them when you are older, and teach them how to do it also so they can pass it to their children. Also you can set up policies on your grandchildren as soon as you have some.
I'm just getting things set up but this is one of the things I plan to write about.
Tim
Daniel Euergetes
Premium
Daniel Euergetes
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Daniel Euergetes
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Daniel Euergetes
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tazimmer
Premium
Hi Daniel,
This was a long read but way too true. There is really only one thing I can add and that is to become your own banker. If you borrow money from yourself then you pay the interest to yourself. However you need to pay yourself the same rate you get from traditional banks. It takes awhile to set up but it is worth it. It's something that I am working on now.
Tim
This was a long read but way too true. There is really only one thing I can add and that is to become your own banker. If you borrow money from yourself then you pay the interest to yourself. However you need to pay yourself the same rate you get from traditional banks. It takes awhile to set up but it is worth it. It's something that I am working on now.
Tim
Daniel Euergetes
Premium
Interesting concept, however, when you start purchasing apartment buildings, would this work?
Where did you learn this? I have another method of income acquisition. Start with a penny that you've found and do not take this penny from any source where you are already making money. Keep this penny and any thing you make thereafter completely separate from any other source. Thus, this is a closed system.
Now, double the penny. This is step 1. Every step you take in this process you will be doubling the amount. In 28 steps you will have over one million dollars. This is something I learned from Stuart Goldsmith and the concept can be searched and found. It's got a lot of strict rules to it but if you can do this, you will learn a lot - and make money at that. Once you complete the 28 steps, the money is yours to do with as you please.
"Double Your Way to A Million." Search this.
Where did you learn this? I have another method of income acquisition. Start with a penny that you've found and do not take this penny from any source where you are already making money. Keep this penny and any thing you make thereafter completely separate from any other source. Thus, this is a closed system.
Now, double the penny. This is step 1. Every step you take in this process you will be doubling the amount. In 28 steps you will have over one million dollars. This is something I learned from Stuart Goldsmith and the concept can be searched and found. It's got a lot of strict rules to it but if you can do this, you will learn a lot - and make money at that. Once you complete the 28 steps, the money is yours to do with as you please.
"Double Your Way to A Million." Search this.
