18/07/2020
Stop Keeping Up With the Joneses… They’re Broke
There are a lot of BROKE people pretending to be rich.
A fake rich person has a Mercedes, but has no assets.
A fake rich person has a big fancy home (and probably a hefty mortgage payment), but they have NO assets.
Just because someone has nice things does NOT make them rich.
The best thing about financial education is if you focus on the assets first, you can buy anything you want.
In my lifetime, some of the most dangerous people on earth have been fake rich people.
They are the ones that try to lure you into a risky business venture with no real idea how to make it sustainable or profitable.
How do you know if someone giving you advice is real or fake?
I would say 50% of Americans are fake rich.
The problem is most people are more concerned with looking the part – big house, fancy cars, etc.
… Don’t get me wrong, I love nice cars - I have a Rolls-Royce and a Ferrari.
The difference is I can afford it. I don’t use bad debt to “look rich.”
One of my biggest challenges in business was that I had a lot of business partners that were fake rich.
They had nothing.
Sure, they had the big house in the gated neighborhood with the nice cars, but they were up to their eyeballs in bad debt!
How could I take their financial advice when they are one paycheck away from disaster?
Remember this - when you’re driving around a fancy neighborhood looking at so called rich people…
…Most of them aren’t rich.
They are living paycheck to paycheck.
The problem is they need someone else to pay them to support their lifestyle.
When I talk to people, I talk to them about assets.
The average person THINKS they have assets, but they are really liabilities.
Liabilities are anything that take money out of your pocket:
➡️ House 🏚
➡️ Cars
➡️ Credit cards 💳
So, for everyone, I strongly suggest keeping your mind in the asset column.
There is nothing wrong with wanting nice things. But, if you really want to have the nice things in life, then focus on getting assets.
I can have anything I want, but my asset must pay for it.
When I want a new car, boat, watch, anything - I buy the asset first, then it buys my liabilities.
I spend my free time going to classes to increase my financial education.
When most people want to make more money, they think they should go back to school to get a higher paying job.
I wouldn’t do that because the first thing you do is pay more taxes.
If you are willing to learn about financial intelligence so you can create assets, then I’d like to invite you to a free training with my friend Anik Singal.
👉 Free Workshop + Free Book: https://lurninc.iljmp.com/27/richdad-21
In this free training, you’ll learn how to turn an email address into a passive business - in as little as 30 minutes a day.
Just click the link and you can get started right away.
👉 Free Workshop + Free Book: https://lurninc.iljmp.com/27/richdad-21
You can focus on buying liabilities and be fake rich to impress your family and friends...
Or you can focus on buying assets.
My suggestion - keep your brain thinking about assets and you can have anything you want.
