Creating Wealth: The Fast Path
Ever wished you knew how to fast track your way to wealth? Whenever people come to me asking that, my immediate answer is there's no way to “get rich quick”, BUT the fastest path is to create assets. This is why real estate is so popular – it allows you to step right into wealth.
Owning rental properties or a building with tenants not only provides regular cashflow, it also allows you to improve the building in a way that makes it appreciate in value.
Although one of the more popular options, real estate isn’t the only way to reach your financial dreams. You could build wealth by creating a business, owning intellectual property, or anything else that generates income. The goal is to stop trading your time for money.
Think about it this way: every time you create an asset, you’re basically printing your own money. It’ll take upfront effort obviously, but if you successfully create an asset that spins off cash flow, the payoff could be the difference between living paycheck to paycheck and financial freedom.
Why Budgets Don’t Work (And What Does)
As someone who was once a financial planner, my biggest take away from that time was this: Budgets Suck! They feel restrictive and limiting.
Most people can’t stick to them and end up feeling stressed and defeated once again in the vicious cycle. Instead, I encourage people to focus on their cash flow - what’s coming in and what’s going out.
A simple framework we use at Freedomology is: GEL. Standing for Give, Experience, and Live. About 50-60% of your income should go towards your living expenses, things like housing, food, or bills. If it’s higher than that, that’s why you’re stressed.
Look at your big expenses first, can you make adjustments? Are you able to go from two cars to one? Changes like this will give you breathing room and free us cash for your other buckets: giving and experiences.
The Magic of Giving
One of the most underrated wealth-building tools is giving. It kinda sounds counterintuitive but I’m telling you when you take a slice of your income and give it away to charity, church, or to your future self (through investing) – something incredible happens.
It begins shifting your mindset from scarcity to abundance. Opportunities will start appearing you may not have seen otherwise. Think of it as planting seeds that grow into something much bigger in the future.
Financial Freedom isn’t just about having money, it’s about having choices. Being able to design your life on your own terms, whether that’s spending more time with your family traveling or as simple as not worrying about your phone bill overdrafting your account.
When it comes to taking control over your financial life, the best time to start is now. You’re not behind. You’re right where you need to be to start making progress.
If you’re serious about building wealth and reaching a place of financial freedom, I’d encourage you to check out F40. It’s our 40-day roadmap to financial freedom and it’s PACKED with the exact steps you need to take to start building wealth today.
Along with the lessons, worksheets and resources, there’s also weekly live coaching, and an incredibly supportive community of people who are on the same journey as you.
If you’re interested and want to join, click the button below and I’ll see you inside!
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