There might seem to be a lot of differences between the rich, the poor, and the middle class, but what if I told you that there was only one idea that the rich use that the the other two do not, that makes all the difference?
It’s so simple but so important that when I finally understood it, it changed my life forever.
I’m going to open your eyes and show you exactly what I mean, and you’ll see why the rich get richer, the poor get poorer, and the middle class are getting squeezed out.
It’s not about what they do, but what they BUY.
The words are:
- Income = money you bring in
- Expenses = money you spend
These two words are used by the rich, poor, and middle class, but it’s these next two that I thought I knew, but blew my mind:
- Liabilities – Something that costs you money
- Assets – Something that pays you money
Poor People
Poor folks are always complaining they don’t get enough income and that expenses are too high.
and they buy things that end up costing them even more money.
Before, I thought an asset was something you own, like a house, a car, or something expensive.
But that’s only partially true.
What’s the Difference?
The rich have a different definition of Assets, and this is the one we’ll be working with:
- Assets – “Something that pays you money”
Usually, people call their house an asset, and if you ask an accountant, they’ll tell you it is; but if you use these definitions, it can also be a liability, right?
A house you own but live in COSTS you money, so it’s a liability.
BUT, a house that you rent to other people and make money from is an ASSET.
So, a quick review:
- Income = money you make
- Expenses = money you spend
- Liabilities cost you money
- Assets pay you money.
Rich People
Instead of buying STUFF and liabilities with their money, the wealthy buy ASSETS.
Again, an ASSET is something that PAYS you.
Once you start buying assets, and you won’t need many, you will start to see what I mean.
The closest thing I can say is it’s sorta like creating money out of thin air.
You can actually create an asset in your mind… your thoughts.
Then you put it in print (or video, or audio, or a speech) and sell it, it brings in MONEY… Over and over and over again.
Create once, sell many times.
You can also buy assets that others create and buy the “resell rights” to sell them over and over and over again… for life.
Again, pay for it once and sell it many times.
You can start small and work up to a big income in short order.
Read this concept over and over to make sure it sticks in.
Buy an “Asset“, build an email list of folks interested in buying your “Asset“. Sell them the “Asset” (and related items to help them solve their problems). This will create long term income for you.
Exciting, isn’t it?
How would you like to have your own Profit Center where you could sell all your Assets?
The Profit Center is the best thing I did for my business. I know you will love it too!
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