The Millionaire Working At McDonald's
This is a motivational passage for all entrepreneurs who are working low end jobs.
Do you dream of financial freedom. Here is a plan of how to obtain it even if you are working at a minimum wage job. Well the formula is simple it just requires you to take action. If you start your day with a workout to refresh your mind and health you will be ready to prove yourself worth. Get a job to cover your bills. It doesn’t matter whether you are a doctor, engineer or even a McDonald’s worker. The reason why I said get a job because you don’t want to be homeless and your job has to cover your bills.
Now your essential bills are covered from a 40 hours a week job such as rent/mortgage, food, gas, insurance, internet and student loans (if you owe any). Then try to find another 40 hours to work on a sales job. There are a lot of opportunities that you can try such as online sales, car sales, network marketing etc. If you love real estate you can start flipping houses or wholesaling. You have to be willing to work on weekends also so that you can cover your 40 hours of your sales job.
Many people would take that change of money and consume it for luxury, yet my suggestion is to save that money to invest it as what Robert Kiyosaki said “buy assets that produce income” such as stocks with a dividend yield, REITs or my favorite income investments: the rental properties. My advice is to buy the first rental property on cash not on a leverage and even your first flip on cash so that you get to understand the business. It might take a while but once you get the gist of your business you can start using a calculated risk leverage.
Now that you have done multiple deals and bought multiple rentals you are now considered an accredited investor which means you are making $200,000 ($300,000 as a household income) or a net worth of $1 million. You can now invest in funds that can give you paychecks every month to keep growing your income.
Becoming a millionaire is not an impossible yet it requires you taking action and a lot of work plus changing your mindset is the number one essential to grow the ladder. I also do recommend networking with people and reading books such as “Rich Dad Poor Dad” or “The Millionaire Booklet” or “Think And Grow Rich”. Who knows maybe you are the next millionaire.