Be Wealthy!
By Mike Jason
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About this ebook
Be Wealthy! Do you want to be truly wealthy? Did you ever wonder why most of the financial tips and advice you read about do not work? And why when you pay down one debt another just pops up? It’s because the root of the financial problem needs to be identified and corrected. In order to be wealthy, you must first fix the root of the problem. Using common sense and applying sound principles will help you build wealth no matter your income. You don’t have to be a millionaire to be wealthy. When I was a teenager working at a restaurant, I was wealthier than many people making six-figure salaries. By using common sense principles, I have built wealth over the years and am now wealthier than many multimillionaires. This book will show you how to quickly apply basic principles to become wealthy by using an easy and practical approach.
Mike Jason
I am an independent author who writes a wide variety of content.Thanks for the continued support.R,Mike
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Be Wealthy! - Mike Jason
Be Wealthy!
By Mike Jason
Copyright © 2017 Mike Jason
All Rights Reserved.
Disclaimer: Any resemblance to actual persons, living or dead, businesses, companies, events, or locales is entirely coincidental. The author assumes no responsibility or liability and specifically disclaims any warranty, express or implied, for any products or services mentioned or any of the advice, guidance, techniques, lessons, or practices described. The purchaser or reader of this book assumes responsibility for the use of these materials and information. The author or publisher does not assume any responsibility or liability whatsoever on behalf of any purchaser or reader of these self-help materials. No warranty of accuracy or reliability is given. No responsibility arising in any other way for errors or omissions (including responsibility to any person by reason of negligence) is accepted by the author. The information contained in this book is strictly for educational purposes. If you wish to apply the ideas contained in this book, you are taking full responsibility for your actions. Readers should exercise their own good judgment and common sense in researching information and making decisions about their respective situations. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the author.
Chapter 1 – What is Wealth?
To learn how to be wealthy, you must first understand what wealth truly is. Many people in the world consider themselves wealthy, but they are truly poor. Wealth is not how much money you make or how many possessions you have. Wealth is having financial freedom—to be free from debt and still have the things you desire in life.
People confuse wealth with having a six-figure salary or a large mansion but don’t realize that even a millionaire may not be truly wealthy. Yes, they can have a mansion and five cars. But do they really own those things, or do the bank and creditors own them?
Everyone has heard the stories of many former millionaire athletes and entertainers who are now broke. They lost their fortune by buying extravagant items that they couldn’t afford. Once they got cut from the basketball team, or their music career tanked, and they missed a couple of debt payments, they finally realized that they never owned these things—the creditors did.
Think about it: an athlete makes $10 million a year. After taxes, that is about a net income of $6 million. Then they get a mortgage on a $15 million mansion, buy a fleet of cars, and go on luxurious vacations all over the Caribbean. So including expenses for food, clothing, utilities, travel, etc., their net monthly income may actually be only a couple of thousand dollars or even less per month. That comes to about $24,000 per year—far from being wealthy.
Then there are the millionaires who go bankrupt because they have expenses far exceeding their net incomes. They spend far more than they earn, so they have a negative expenses-to-earnings ratio.