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As I work with people all over the country, a common question I get is what is the fastest path to wealth or what is the right path for me and my family to take to build wealth.
Truthfully, there are a million paths to wealth, but you need and want to find the right path for you.
This depends on your income, ability to save and invest, your age, when you want to retire and on and on. So I don’t have a one size fits all approach.
However, if you boil it down, for simplicity sake there are two paths to wealth.
The first path is to say I don’t know how much money or income I will have at the time I want to retire but I will give it my best to build and growth my net worth.
However, the focus on this path is to attack your debt and lower your monthly bills.
Your saying I can control my money by having as little of it go away from me each month so I’m going to get this car and house paid off.
Or I’m going to lower my bills to fit the income I will have.
Essentially you are focusing on debt and how much leave your pocket each month.
The second path is to say I’m going to focus on all my efforts and energies on build wealth, investing and having assets that produce income for me.
I’m not really concerned with debt or monthly bills so long as I Have the assets to always cover my cost of living.
Again I know these are simple and basic but without doing one on one coaching with each of you individually, this was the best way I could think to share this idea based on people in the community asking me.
So control your debt and spending vs focus on assets and continuing income that always covers your monthly obligations.
I hope you found this smart money tip helpful.
I wish to remind you that you are amazing.
I appreciate you being in my community.
Stephen, I found this video very interesting at the end and could not control my outburst of laughing. My dogs were all looking at me like, what is up with him. So funny and I appreciate your humor. Thank you for all the news you have shared and continue to share with us. It gives me great pleasure to with you and your family a very Merry Christmas.
Stephen , please don't be discouraged by what people say. God knows your heart and intelligent people know. I didn't win and sure could have used it. But I'm alright with it. Because all of us are going thru the same things more or less. But my Heavenly Father will see me thru it. And I say God bless you and yours. I know if it was in your power you would help everyone that followed you. So carry on. And the person that played the race card give it a break. Say a prayer.
Us little guys that make nothing we are pawns in there world so the rich can live
Have a great evening!
Merry Christmas Steve and family. God Bless your family through the next year!