Retire Rich!

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Retire Rich!

Encourager-In-Chief: August 19th, 2020

Work less and make more money.

As a rule, most people would rather work less and make more money. I really don’t need to qualify that statement, but how you get there is always the challenge. As I’m sure you will agree, the problem with “get rich quick schemes” is always the “quick” part. The reality is, you can get rich but it’s going to take a long time. Most people don’t have the discipline and the commitment to wait long enough for it to happen.

A good friend of mine had a father who decided to invest all of his five children’s earned money from various part-time jobs during high school into the stock market. He opened up a separate account for each one of them. He wouldn’t allow them to take any money out of these accounts until they turned 18. If they did need money before then, he would give them the money. The point is, he was instilling in them that the longer they left their money untouched, the more they would have when it came time to retire. In my friend’s case, this has paid off very well for him. While working part-time cleaning pools during the summers and making sandwiches in a deli, he’s managed to save about $4 million. Needless to say, he had a lot of discipline. Now, he works when he wants and he has more money than the average deli worker.

If you’d like to follow in his footsteps, the key is to start as early as possible and start socking away money that you’re never going to touch. It also doesn’t hurt if you put it into something with a high yield return. Depending upon your interest or disposition, you might want to look into the stock market, real estate, land, mutual funds, or government bonds. They will all work to one degree or another. What they all have in common is that you have to be willing to wait in order to get the payoff you expect.

A good way to save money is to create an untouched secondary source of income like an automatic money machine. For example, if you have a website where people can go and order products online from you, you’ll be working less time and making more money. Dave Romeo Online University is an automatic money machine because it doesn’t require much maintenance. If you want to do something similar, find a way to give people what they want from you without making it labor-intensive to deliver.

Let me hear from you.

By the mile, it’s a trial. By the yard, it’s hard but by the inch, everything’s a cinch.
- Brian Tracy

This excerpt is taken from my Survive and Thrive II: How to Create Automatic Money Machines seminar. I encourage you to register for this seminar to be presented from 9 am to 12 noon on Thursday, September 17, 2020 at the Comfort Suites in Manheim, PA.

Survive And Thrive II: How To Create Automatic Money Machines

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Let me hear from you!