Recently, I read “The Millionaire Booklet” by Grant Cardone, which went over eight key principles to becoming a millionaire and doing it quickly.
There were two main ideas that really stuck with me, and I want to share them with you today.
First of all, he talked about adding different sources of income that complement what you are already doing. For example, as a real estate agent, you could invest in real estate, flip properties, or take on property management to add different sources of income and expand the amount of money you make.
The second concept that stuck out to me might surprise you. You should stay broke. Instead of saving just for the sake of saving, save money to invest.
Take 20% to 30% of your income, put it in a special savings account, and look for investments for that money. Don’t just let that money stay stagnant in the bank.
Instead of saving for the sake of saving, save in order to invest your money.
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I’m always investing my money into real estate. I own three rentals right now. Once I find the right rental property to purchase, I have to spend all of the money that I’ve saved up, leaving me broke again. That just gives me another reason to go back to work and find additional income!
If you have any other questions about this topic, just give me a call or send me an email. I would be happy to help you. In the meantime, stay broke!
