Being here at Wealthy Affiliate affords a new kind of income - passive income. This is the income we get from commissions and sales here at WA. This is NOT earned income. That's what we get from paychecks.
If we can separate these two incomes, one from the other, we can take the income we get from WA and keep it in the entrepreneurial system.
Eventually we want to take our earned income and do the same thing with it. The idea is to learn how the money game actually works.
I hate using the term "out of the box" but it does apply here.
Most employees only know how to earn their paychecks, receive it, and then pay their bills. What's left over goes into entertainment and doodads.
Inability to Delay Gratification
Unfortunately, we see things we want and we have the bad habit of not delaying this gratification, therefore putting ourselves in bad debt situations. You will not learn this stuff from school. It's not there.
Wealthy Affiliate teaches a method of acquiring passive income and a taste of what entrepreneurship is about. The mechanics of earning passive income must be gotten elsewhere, though it is not uncommon for its discussion on here.
My recommendation is to look into what I've said on here for yourselves. I suggest reading Robert Kiyosaki and a number of other great sources out there. Stay away from conventional school text books on economy. Though much of it IS accurate, it's the wrong mindset and you get it that puts you the wrong side of the fence.
There are capitalists who are happy to share their knowledge. The author mentioned above is one of them. Warren Buffet, Brian Tracy, (hold on to your hats!...) Rush Limbaugh, Mark Joyner, Stuart Goldsmith, Rob Taylor to name a few, will take you into realms you never knew existed.
Though some of these folks may seem in left field, they do discuss things from the standpoint of being entrepreneurs and the mindset can be learned from them. This kind of exposure will warrant a broader scope on the economy and how to beat it. Most people hearing this say that it's hogwash. You be the judge but do give it a fair chance. Understandably, what I've said on here isn't for everyone.
Most people follow the herds. The idea here is to UNDERSTAND what the herds are. This does mean education from the other side of the fence. The folks above will get you started.
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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.
