How to get wealthy
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Transcript of How to get wealthy
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How To Get Wealthy
By: Demond Johnson
(S.W.A.G=>Systematic Wealth Acquisition Group)
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Information resource:
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4 Terms you must know when discussing
Wealth Are:
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Income, Expenses, Assets, and Liabilities
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Term Clarification
• Income(I)Money that comes in.
• Expenses(E)Money that goes out.
• Assets(A)Things that pay you money
• Liabilities(L)Things that cost you money.
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Next, you will want to learn about three classes of
People and their spending Patterns.
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THREE CLASSES OF PEOPLE
Poor
Middle Class
Wealthy
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What is the Spending Pattern of the Poor?
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THE POOR… spend all their income on expenses, and end up broke.
INCOME
EXPENSES
Broke
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What is the Spending Pattern of the Middle
Class?
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THE MIDDLE CLASS… spend income on expenses and ever increasing liabilities
which create more expenses. And, They are still broke.
INCOME
EXPENSES
LIABILITIES
Still Broke.
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What is the Spending Pattern of the Wealthy?
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THE WEALTHY… use their income to buy assets, which increase their income.
The increased income allows the rich to pay off expenses and
liabilities. Once their assets create an income greater than
their monthly expenses they are infinitely wealthy.
INCOME
EXPENSES
LIABILITIES Assets
1
2
3
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How is compounding used in building wealth?
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Keep it Simple Smarty (K.I.S.S.)!
Einstein believed that compound interest was the greatest invention of man, and considered it to be the eighth wonder of the world.
Everything should be made as simple
as possible, but not simpler.
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What do you mean Albert?
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When Einstein was asked to expound on his statement about compounding he said “Compounding is mankind’s greatest invention because it allows for the reliable systematic accumulation of wealth.”
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When we take the income that we earn from Assets and buy more assets we create a compounding
effect.
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Let’s look at an Example of Compounding:
If you had a choice between:
Which would YOU choose?
Getting $10,000
TODAY
or
1penny
Compounded for
30 days
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$5,368,709.12
0.00
1,000,000.00
2,000,000.00
3,000,000.00
4,000,000.00
5,000,000.00
6,000,000.00
Day1
Day3
Day5
Day7
Day9
Day11
Day13
Day15
Day17
Day19
Day21
Day23
Day25
Day27
Day29
1 Penny Compounded Daily
If you chose the penny compounded, then you made a far better choice. As you can see you would have received over 5 Million dollars if you chose the penny compounded for 30 days.
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Bringing It All Together
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Wealth is measured in Time not in money. In other words , Wealth is the number of days that we can maintain our current lifestyle without having to work.
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Once We create a monthly Income from Assets that is greater than Our monthly
Expenses then We are Infinitely Wealthy.
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If you would like to Start
Applying the Information you
Learned In this Report
Click Here to Learn more.