4/7/2020 The Quick Reference Guide to Wealth

1. Who Employees Employees & Self-Employeed Business Owners & Investors

2. Education Highschool or college graduate – Values Education, often college Values only “street smart education”, often aquired
graduate from peers and/or self-learned
– Attends course and seminars on
investing

3. Major financial To survive until next payday To build up a significant net worth Freedom
goal by age 55-56

4. Focus Salary or hourly wage Net worth Cash flow

5. Cash Flow “How much do I have in my Understands the value of CFM Understands that CFM is the foundation to all wealth
Management (CFM) wallet?”

6. Definition of an A 6-pack in the fridge Anything that has market value Anything that produces a positive cash flow
asset

7. Home Would like to own one One of their most important assets A home is a liability, not an asset

8. Investment -Government pension – Mutual funds – Stocks: IPOs as investors and/or key shareholders
vehicles – Lotteries – Blue chip stocks – Real Estate: larger projects
– Real Estate: condos, houses & – Businesses
duplexes

9. Investment sources The government Invests in financial products Creates products and services to sell to the Middle
created by others Class and the masses

10. Investment Hope – Dollar cost averaging (DCA) – Create their own or modify others
systems – Low down real estate systems – Often learn from other rich investors who are their
peers

11. Expected rate of Get rich quick 12% to 30% 50% to 500%+++
return

12. Risk Has no idea how to evaluate it Accepts moderate risk Most investments are low or very low risk

13. What works If it doesn’t work, keep doing it Learn what works and keep doing Keep learning and innovate, innovate, innovate
it no matter what

14. Time horizon Next payday Long term Tailored to each goal or investment

15. Real estate Would like some Buy & hold, waits for it to go up in “You make money when you buy, not when you sell”
value

16. Most valuable Paycheck Investments Time

resource

17. Why work? Work for the weekend Work for money of which 10-20% Money works so they don’t have to
goes to investments

18. Advisors Broke friends & family Financial planners, accountants Themselves, each other, coaches, selected
professionals

19. Resources TV – The Millionaire Next Door – Rich Dad/Poor Dad

– The Wealthy Barber – The Cashflow Quadrant
– The Cashflow Game
– Robert Kiyosaki tape sets

20. Key indicator Savings account with $100 in it $1 million net worth Passive income exceeds expenses
event

21. Questions and Don’t really understand the Asks questions and seeks the right Knows there are many answers
Answers distinction answer

22. Delegation “If you want it done right, you “You can delegate what you don’t “If you don’t know the fundamentals, you can get
have to do it yourself.” know” slaughtered!”

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