If you’re stuck in the same cycle and not building wealth, there’s likely a reason why. I’ve noticed five main reasons and behaviors that hold people back from attaining financial freedom.
On today’s show, you’re going to learn the five things holding you back from creating wealth through performing assets. You’ll learn about why your job blocks you from building wealth, how to be more intentional with your time and money, and much more. Don’t miss episode 645 of Investing in Real Estate!
1) Buying liabilities
The flashy car, fancy clothes, expensive technology, and most importantly: consumer debt. These are all liabilities that wealthy people don’t pour their money into. Instead you should be putting money into performing assets.
2) Relying on a paycheck
When you work for a paycheck, there’s a limit to what you can earn. As a w2 employee, you’re also taxed at the highest tax bracket. The true way to wealth is to start your own business.
3) Trading time for money
Your time is your most valuable currency. Instead of trading hours for dollars, shift into creating streams of income from performing assets.
4) Hanging with the wrong crowd
If you’re surrounded by naysayers, it’s going to be impossible to succeed. Break the cycle and surround yourself with positive, like-minded individuals.
5) You waste time
If you’re working a 9-5 job, you’re probably caught in the trap of wasting time after work. Instead of watching Netflix or spending time on your phone, you could build your business.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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