Today I’m going to discuss stage 1 of the four stages of growth. It’s all about the spiritual journey of wealth building.
Stage 1: Think a Million
The Spiritual Journey of Wealth Building – Like Mr. Keller, I too believe that the pursuit of money is a spiritual journey. Would it surprise you that the bible has over 2,000 references to money, property and wealth? That’s more than twice the number of references to faith and prayer combined. In fact money shows up as a theme in every major religious text. No matter what your personal faith is, spirituality and money are always connected. It seems that God cares about how you think about money and wealth. And that makes perfect sense to me.
Money: What you do to acquire it? How you hold on to it? And what you do with it reflect you innermost values? What you may not realize is that every time you open your wallet, endorse a check or sign a credit card receipt, you’re making a statement about your spiritual values. In other words money spent is a personal testament. The receipts are absolute proof of your priorities.
Money in and of itself is neither good nor bad. It simply has the power to reflect or reveal. And whether money reveal you to be honest or dishonest, generous or greedy. It’s you and not the money who inherently own those values.
Think of money as having choices. Typically the more money you have the more positive choices you have. The two go hand-in-hand. The spiritual journey of financial wealth building begin when you realize your choice define your life. That having more positive choices is a good thing. And that pursuing more positive choices is something to look forward to.
The further you progress, the more generous you will become with your time and money. You will not only experience successful deals, but you will save people for foreclosure, help to get people into more affordable homes, turn properties and even whole neighborhoods into a place where people would want to live. And perhaps more importantly, you will help other people of color to create generational wealth.
In time, you will experience the power of money and realize all of the good it will do, not just for you but for the good of other.
Financial wealth building is also about personal growth. Along the way, you will discover you have to acquire new skills and greater wisdom to keep moving forward. If you don’t grow personally with the growth of your fortunes, you will unlikely enjoy them for long.
In the end you can achieve a place of financial security and abundant. That is what I call true financial wealth. It’s where you have accumulated assets that deliver the passive income necessary to achieve your personal mission in life without having to work.
To put it another way, you have financial wealth when you’re finally free to stop working for a living. And start living for your work…your life work.
Think Net Worth
In the game of financial wealth building, if you want win and win big you have to know how to keep score. The question is: Do you know your score?
The wealthy are conscious player of the financial wealth building game. They play it strategically and they keep score by carefully watching their net worth.
Net worth is the sum total of your assets and liabilities. In personal terms, your financial wealth is your net worth which is what you own minus what you owe.
This means you need to be tracking your assets: Capital; and your unearned income: Cash Flow
You need to look past your earned income (the money you are earning from your present job) to your unearned income (the money you are earning from our community store). And beyond that to other sources of unearned income (the money you will earn from real estate investing).
Do you know where your Cash Flow is coming from?
Cash flow comes from Capital which is the basis of your net worth. The fundamental number you should focus on and track is your net worth. It’s the golden goose.
So here’s what you do?
Create a list of all the financial significant things you own. This includes stocks, bonds, real estate, furniture, cars, etc.
Subtracts all of your debts and liabilities. The final number is your network.
Each week you should update your financial net worth worksheet. Then each week should you also ask the question: What’s the best way to make that number grow?
Through this weekly activity, you will discover that knowing your net worth will be only half the battle. The greatest clarity will come when you track your net worth over time.
When you do this, you will start to notice which financial decisions that will have the greatest positive impact on your financial wealth.
As a general rule, investing will make your net worth go up. And consumption will make it go down. Some time when you think that you are investing, you won’t be. You will discover that not all assets are equal. Some appreciate while other depreciate.
For example, when you purchase a car, even though it’s an asset; it’s a depreciating asset and your net worth will go down. In contrast, when you invest in real estate, an appreciating asset (although you will occur debt) your net worth will go up.
So take a closer look at all of your assets to see if they are true investments.
For example, if you own a home, it’s an appreciating asset. Your home mortgage is like a forced investment plan. Each payment increase your equity and lower your debt.
You need to think about focusing on your net worth as a habit. You should ask yourself: How much faster will my net worth grow if I owned more real estate? How fast will it grow if someone else paid down the mortgage? What if the rent they paid more than covered the property expenses and generated positive cash flow?
Once you begin to think net worth, it’s only natural for you to begin thinking real estate.
It is now 7 week and 5 days since you began your quest to eliminate your $300 to $500 monthly debt.
If you followed my recommendations….
You are using The 1-Minute Messenger as your keystone habit.
You are taking advantage of your surroundings to make it easy to invite others by making copies of your bill, along with your daily affirmation, and taping it to a table where you like to sit and drink coffee in the morning or a room you like to hangout in daily.
You continue to be the type of person who can achieve the things you want to achieve with identity-based habits.
You are employing the 1 Percent Rule to maintain a 1 percent advantage over everyone else by working just a little bit harder.
That means you are performing 120 to 240 1-minute invites weekly using the 1 Minute Messenger to grow your wealth-building network of partners.
You are using automation to work in your favor to make your good habits inevitable and your bad habits impossible, rather than relying on willpower in the moment.
It’s time to check to see how well you have done on your 8 week journey of eliminating a $300 to $500 monthly debt.
Go to the bottom of the site and log into your Membership Backoffice to see how much money you have earned.
Use the username and password you were provided when you made your initial product purchase to access your backoffice.
Please leave me a comment below.
In the next lesson, I’m going to discuss the 8 key wealth building benefits of owing real estate property. It’s going to knock your socks off once you learn the truth. It’s a true powerful cash-flow generator for earning unlimited streams passive income.
IMPORTANT: Make sure to join our Facebook Group: Building Generational Wealth for Everyday Working-Class People to read what other people are saying about our network and where you can join the conversation
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