Raise your hand if you grew up on the “You Must Save Money” mantra?
Parents, teachers, friends, advisors, the media…
There was an entire “movement” of top-sellers that ranted about saving a dollar here or there.
I would hit a point in my twenties though where interest rates dropped, stocks tanked and inflation surged.
Sound familiar 🙂
Banking your entire future on saving a few pennies here or there ends up with you up against the wall in front of a firing squad.
No options, no way out and LOTS of life left to live.
If your entire financial plan consists of cutting back on $5/day coffees or lunches…
The day will come when you have nothing left to cut back on.
What’s the REAL way to financial independence and freedom?
Focus on Growth
1. Find ways to grow the stream of income you already have
You can often do this by becoming more persuasive, recognize important skills and learn them quickly AND having the courage to move on if necessary
2. Multiple streams of income
EVERYONE should be doing this NOW.
It’s simply too risky to stick with only one stream of income. Especially if that one stream is working for someone else.
When you need them most, when times get hardest, they will often not be there – even if they are good people.
The absolute best way to quickly start a new stream of income is to offer something you know to those who need it.
Our free report Market Domination Formula is THE definitive 55-page guide on how to develop your own income stream around what you know fast. Â
You can download it here free.
3. Leveraged income (package knowledge once, sell over and over)
It’s tough to find the time and energy to place into growing new income streams when you are still trying to just pay the bills.
That’s where leverage comes in.
Some examples:
– You package your knowledge into a Guide (one-time effort) which you then sell over-and-over again (far less effort)
– You attract global affiliate partners (one-time effort) who put your offer in front of global audiences over-and-over (scale and repetition with little effort)
– Turn multiple products into different bundles attracting even more sales and profit
We call this “the working smart” part of the equation…it’s not that tough either, when you master it – your future earnings can really scale.
4. Passive income (investment, real estate…)
Once you have multiple active income streams in play, the time then comes where you want investments that can passively add to your wealth.
When you get here – it’s a really NICE problem to have 🙂
I don’t want to see you in front of the firing squad (a metaphor only if you haven’t been following.)
Cutting back is an ok short-term tactic…a way to help you reach the next level of growth in your life.
It should NEVER be your ONLY strategy.
Hope that helps.
