The 10 steps to creating wealth:
- Produce at your W2 job or business to earn & save money. Save your additional income to invest.
- Begin to educate on investing & changing the mindset (Education X Action = Results).
- Join mastermind groups, communities & attend events.
- Become a producer, not a consumer.
- Purchase assets that produce a yield.
- Get into a better tax position.
- Reinvest the yield into other assets. (Refi & Roll)
- Pay off all personal debt to create snowball.
- Keep snowball rolling & move to fulfill soul purpose.
- Give back.
- Create home budget.
- Plan your weeks.
- Create yearly goals.
- Put aside emergency fund of $1,000.
- Put aside 3-6 months of income.
- Properly insure yourself. Insure for the catastrophic, not the consequential. Look at all coverages, and your investments to make sure you are maximizing them.
- Take control of your credit score.
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