The average millionaire has a minimum of 7 income flows. I teach my clients to get to this number ASAP. Why? Because the wealth game is won with income. You want many different flows of income, all from sources you understand fully, and control fully. The etymology of flow is “to pour out”. You want many sources that pour out income into your life. I’d say this is one of the most vital parts of your wealth plan. I teach my clients that after they make money and have kept it, they must multiply it by getting additional flows. I’m going to explain how to do it.
Where does your income come from now? That is the first step. Have a full understanding of your current income sources. How much comes in? Where does it come from? What actions create it? What is the exchange with the world that generates income? These are all the questions you must know the answer to. Why? Because too many people ruin their success by adding income flows that conflict with the ones they have no. Adding flows is a game of saying “no”. I’ll explain in the next step.
Find an income source that is parallel to what you do already. Do not go to another industry or location for the new income flow. If you’re in real estate, your new flow should be in real estate still. Many people violate this rule because they believe they need to “love what they do”. So they look for an income source outside of the ones they currently have because they are “tired of it” and “need a change”. This is not adding a flow. This is actually a form of quitting. Add flows that line up with your current primary income, regardless of whether you “love what you do”. If you violate this rule, you’ll work 40 hours per week, trading time for money while you serve the 40-year-to-life-sentence and NEVER love what you do. Add more flows and make sure those flows make sense.
Immediately economize and increase. DO NOT SPEND THE MONEY FROM THE NEW FLOWS. See how I put that in caps? The reason why is that you must actually do the opposite. Act like you’re broke and save everything. Do not splurge. Do not reward yourself. Do not spend the new flow. Save it. The money from this flow is going to be saved so that you can acquire an asset that pays you income. That asset is going to by more assets that pay you income. This is how you’re going to get free so it is imperative that you save all of the money for it.
We’ve been taught the myth of “get a good job”, “buy a home”, “invest for retirement”, and “diversify”.
I’m instead telling you, increase your income, save everything, and add new, parallel sources of income. Why isn’t this message being taught? Follow the money. There is no 401k, mutual fund, mortgage, or house to sell attached with my message. There is not an incentive for the industries at large to teach this. If you’re ready to build real wealth you need to become a client of mine today. Nobody else can do what I can do and there is no time better than now. Click here to request a personal phone call from me.
Own Your Potential,
Jerry Fetta
Jerry Fetta helps his clients make money, keep it, and multiply it.
He believes everyone needs to won their potential. He believes you were not created to spend 40+ hours per week serving the 40-year-to-life sentence trading your precious time for money just to live in mediocrity.
However, the truth is that time and money do need to be exchanged. It just doesn’t need to be you making the exchange.
Jerry helps his clients create wealth that does that time and money exchange for them.
His clients see a 30% increase in income, a guaranteed increase in savings rate, and 8-12% fixed annual returns on their assets in the 1st 90 days of working with him.
To get started, go to www.WealthDynamX.com/potential
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Thanks for the article - really need more personal finance posts on here. I like what you say about working 40 years doing things you hate and trading your time for money. That's what most Americans do. I also like how you say act like your broke and save for assets. I need to start doing that asap. But I already save 50% of my income, so I don't know if Savings is where my focus should be - I need to earn more at this point. So how do you recommend I improve my income sources? I make almost six figures in my finance job but I work 40 hours a week. I have this Steemit on the side that I make small amounts from. I want to get into real estate but I need to save more for my down payment. What do you suggest I do for other income sources?
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