Did you know that in reality, you only can buy two things?
You either buy an asset…..or you buy a liability!
Think about this, if you developed the same love for buying assets as people have for buying a new car, clothes and other knick-knack, it wouldn’t take long before you could retire!
Of course you need to spend some money on buying all the necessary things, but we purchase mostly with our feelings so what if you felt the same excitement when purchasing something that put more money into your bank account as you do when you purchase something that take money out of your account?
After many, many years as a broke musician….spending all my excess money on things I didn’t need. Like beer, partying and junk that I found. Ok, we all need some kind of social life and not every beer is a “waste” of money because we do build relationships that for sure has meaning and value in life.
But I could have saved those 50€ I paid for those Swiss clogs that I bought at a gas-station when I was drunk on tour one time!
The piont is, I have now finally developed what is called a “Millionaire Mindset” and even though I’m not where I want to be yet, I finally feel that I am well on the way…because my love for purchasing assets has actually outgrown the love for purchasing liabilities!
Imagine all the ladies that love shopping! If you had the same love for shopping cashflow! Yes, did you even know that you can purchase cashflow? 😮
Many immediately think of assets like property that you rent out or stocks etc. and because of the lack of education in schools about assets vs. liabilities we always freeze when looking at stocks or spending our money on something we can “lose” money on.
But think about this, if you spent 100€ on some knick-knack and 100€ on dividend paying stocks. Even if the stocks took a big hit, it would still be financially better than the knick-knack! And of course with a potential to get back after a downfall.
If your main focus would be to purchase cashflow, you would over time have a lot of…….cashflow! 😮 :o:o
Am I saying that you immediately should be throwing your money at everything that moves in the stock-market? Absolutely not.
I’ve found that the best way to get started is small steps and to have a team of people around you that know more than you, that you trust and that have results!
Then all you need to do is follow their advice which in most cases will be better than your own anyway.
And don’t look for the get rich quick-fix! Have patience and trust the process.
Over time you’ll develop a love for shopping assets and see that no matter how “bad” your investments have been, they’re probably better than purchasing chocolate for Saturday at an avg. price of 50€ per kilo anyway!
Happy shopping! 😀