How I Went From Broke To Milti-Millionaire-The 6 Levels Of Wealth

Ancient life we go through different stages I believe there are six levelswink naturals promo code of wealth today I'm gonna share with you how I went from Brooke to multi-millionaire and my goal for you is to walk awaypunkin butt promo code from this video with clarity with confidence and also walk away with a sense of direction I want you to imagine for a second let's say you and I are in the car and we say that we want to go to downtown which is about cali white promo code an hour away we turn our GPS now say let's cat amazing promo code go now what if the GPS only shows you the destination and not where we are now what are the chances of us getting to their destination getting to downtown zero to none you see when it comes to money when it comes to finance one of the most important thing that you have to do is to figure out where you want to go with the theodent promo code destination and second where you are and where you're at today otherwise you cannot get to that next level.

Level number one financial dependence what it means is at this stage you are relying on someone else to provide for you financially now they could be your parents it could be your grandparents it doesn't matter and it has nothing to do with age it has to do where your money is coming from because I know people who are in their cremo promo code 30s in some cases forties still relying on other people to provide for them financially they are at level one now dryel promo code maybe you are a full-time mom or full-time dad now when it comes to parenting to me native promo code you are level six because you're taking care of your kids but when it comes to your finance in this case what we're talking about if you're relying on your spouse to provide for your hundred percent financially when it comes to finance you're at naturally sourced promo code level one does that make sense so comment below to let me know where you're at and then if you are good and there's nothing wrong with it we all start this way we all started at level one the key is how quickly sirabe promo code we break free from level one to level two two three four five and six level two financial so maybe you have a job at this stage you are living paycheck to paycheck you are relying on a job to provide for you maybe you have debt maybe you have student loan maybe you have a mortgage you are struggling you're primal ife organics promo code just surviving barely month after month after month I was stuck at this stage for a number of years zhuanglin promo code because of my business failures living with my mom and I remember there was those nights away I couldn't sleep because I was constantly worrying about my finance and how we're gonna pay the bills how we're gonna eat right and then remember there are times where I would wake up in the middle of the night now aveeno promo code would be sweating because I was worrying and I was in this state of fear all the time and that's chennao promo code level 2 financial survival and unfortunately most people they're stuck at level 1 and 2 and then you simthread promo code have level 3 which is financial stability now you are financially stable when you have number one when your income it's greater than your expense that's the first criteria the second thing is you have at least at least six months of cash there's equivalent of your monthly expense in the bank in a saving account somewhere so let's say your monthly livingo promo code expense is $5,000 you should have at least $30,000 30 K set aside that you don't touch for your emergency for.

Something that might happen you don't. touch that that's when you know you're financially stable number three you also have ruff n ruffus promo code no dad dad no bad consumer debt now you may have a little mortgage that's perfectly fine you have credit card nothing wrong with credit card where the guy is fine right you're collecting points right you are being smart as long as you don't have credit card debt you're paying off that credit card every single month right now accumulating any kind of tres makes sense right now it doesn't all for paws promo code matter if you're beenle promo code self-employed doesn't matter if you're working in a job there has nothing to do with that how you make the money doesn't matter he has to do with how you manage the money now with myself how I got to level three wasn't through traditional saving I did it by increasing my income dramatically xlear promo code by improving my skill sets by upgrading my skill sets by developing high income skills skill sets that I could offer I could sell to biotene promo code the marketplace in exchange of money that's how I got out of level two because I was stuck in level two for many many many years now maybe you want to learn a skill set now I don't know you and I don't know your situation and what is the ideal skill for you to develop if you want you I'll put a link somewhere here or here you can take my quiz it takes you three to five minutes then you will know if you want you what is the ideal high income skill that you should pursue so that's level three financial rawlings promo code stability therefore for financial comfort now this is a level that most people never reach chances are when you're at level four maybe you have a maybe you have a portfolio or a stock portfolio that are growing and maybe you have a couple of income producing properties they are throwing off cash supple promo code flow chances are you are already the top earners in your industry you have a lot of income coming in and you're putting that aside it means that you are regularly contributing to your retirement account now not the only investment strategy that you have but it is one of act promo code the things that you are already taking care of.

Number two you. have at least two years of living expenses put aside so let's use the $5,000 example $5,000 a month that's your overhead that's your monthly expense it means times twenty four months so that means you have at least a hundred and twenty thousand dollars in cash that you put aside in a saving account on top of tombow promo code your investment count that you invest for the long term and letter magic surker promo code the powered compound interest of work for you maybe you like I said on a couple properties also it means that you've got a couple insurance policies in place or in case anything happens to you your family its protective so proper insurance in place on top of your investment account investing for long-term and two years of cash of living expenses put aside allfu promo code that's level number now you may be thinking level. 

four it's already easy it is not a milestone that most people will ever hit financially but let's talk about level five and there's financial independence because you hear this a lot people say I want to be financially independent right but what does it actually mean so now assuming you've already arrived level four it's all good right you're financially comfortable financial independence means that now you've got your beats promo code investment working for you maybe you are bluedio promo code collecting you're getting dividends from your stocks maybe getting cash flow getting rental income from your real estate investments right then you got your investments that are producing cash your money making you money let's say the easiest example you are your overhead again I'm going to use $5,000 your living expenses five thousand dollars a month and now just from the dividends income from the interest from your rental income just your investment alone now that pays for your lifestyle I'm not talking about halls promo code luxuries I'm not talking about their fancy vacation their fancy car I'm just talking about you know your five thousand your living okay but your investment covers that now you're at level five financial independence and then there's one last level and that is financial abundance and I believe this is the level that you should aspire to be when you are financially abundant your investments are throwing soundcore promo code off way more cash flow than what you're earning right now so I'm gonna use the $5,000 example again your month expense is $5,000 but your investment income are producing 50 60 $100,000 a earfun promo code month multiple way more than what you are spending now you're financially abundant because you never worried about if you lose that job if you lose the business it doesn't matter if the economy goes up frank body promo code and down you are protected you are.

Financially secure you know and you are financially abundant because you've got more money coming in not just savings you've got that but you've also got cash flow coming in income coming in investment income coming in that it's way beyond what you could spend now life is very very interesting now yourfranklin pet supply promo code vocation becomes your vacation you don't have to do something if you don't want to right this is what I call fu money  you money you don't have to deal with anybody that you don't want to deal with and you don't have to do anything that you don't want to do because you don't really need anything from anybody you are okay now then you can truly do something because you want to do it not because out of guilt not because out of obligation because this mpow promo code is something that you want to do something that you choose to do that's level six so my question for you is this where you are right now and you got to be brutally honest with yourself and that's okay I started at level one everybody started at level one I didn't get to level six overnight but you have to be honest where you're at now today comment below and where you want avani promo code to be and I want you to set a goal for yourself with listicle don't say I'm gonna go from level one to level six in three months that's BS right what is your goal what is your time frame where you are now to where you want to be and by the way you don't have to always get to level six. 

Overnight but you have to be honest where you're at now today comment below and where you want to be and orajel promo code I want you to set a goal for yourself with listicle don't say I'm gonna go from level one to level six in dekor promo code three months that's BS right what is your goal what is your time frame where you are now to where you want to be and by deerma the way you don't have to always get to level six most people never ever ever ever get to level six for some people watching grabease promo code this maybe you're perfectly happy you know what you know I even get to level four I'm pretty good right and once you get to level four it doesn't mean you stop there you can still strive to be more but that's the six levels off well if you find this video useful make sure hit the share button and give me a thumbs up I've got over a thousand videos on March on various topics on finance on cash flow on investing on entrepreneurship don't stop right now go watch the next video.