Do You Have a POOR, MIDDLE CLASS or WEALTHY Mindset?

Wealthy people buy assets that produce them income. Everyone spends their money, its where they spend it and the mindset shift that dictates their financial picture. Shifting our mindset from buying things to buying assets and ultimately buying income is what will change our life and produce ultimately financial freedom for us. Everyone is seeking financial freedom yet few know how to achieve that outcome. That’s an equation wealthy people have figured out. They use their earned money to buy assets, which ultimately pays for their things. For example, let’s say someone accumulated a million dollars. Instead of upsizing all their “things” they invest in assets, let’s say cash flowing rental real estate for example. That $1 million in assets produces them a 10% cash return. That’s $100k a year. Every year. For life. They don’t have to work for that $100k. Their money is doing all the work. That is financial freedom. Even cooler to think about? Accumulating $5 million in assets that produces 10% per year. That’s your money making you $500k per year. Without you having to go trade time and work for it. Let’s all collectively improve our financial literacy and start to buy and invest in assets, not liabilities or things. Ps your home is not an asset. It can grow and you can make money off of it, but it does not produce you cash flow and is not a true asset. Want proof? 95% of America isn’t wealthy, and most people believe their only “asset” is their home. It’s not. Wealthy people may very well own their home(s), but they more so own assets that produce them cash flow. Shoutout Justin Prince for reminding me of this concept! Upstarter Pods Start growing your business with a podcast. Check out upstarterpods.com or sign up for a free discovery call here. Looking for a custom quote and recommendations for your podcast? Fill in this quick survey. Timestamps: [2:57] The poor mindset. [3:43] The middle class mindset. [4:57] The wealthy mindset. -- Let's Connect! To get more info and updates on the podcast @gettingmagnetic Follow our personal Instagram accounts @sandyclaus7 @wellnesswithwade Check out our website for all things Getting Magnetic https://www.sandyandwade.com/