Here’s a way to put more money in your pocket

Posted by Joel pate in Business, Credit Cards, Management, Uncategorized. Tagged: , , , , , , , , ,

Business ManThis article is dedicated to educating those who are ready for a substantial change in their life.

Men and women have within themselves the need to gather, to accomplish, even to purchase. If you do not concentrate on purchasing assets, you will by default purchase doodads or worse liabilities.

The key is to focus on income producing investments and quit buying into Madison Avenue’s ideas that you really need all those liabilities and doodads you possess. I’ll show you how, but I have to warn you, nothing I’m about to tell you is easy.

Like I said in the opening, this article is for those who truly want to make a change for the better in their lives. If that sound like you, I invite you to read on …

So let’s get started:

• Assets produce income every month

• Liabilities take money from you every month

• Everything else is doodads

Doodads: golf clubs, ink pens, watches, ATV’s, albums, cookware, plasma TV’s, iPods, cloths, etc.

Liabilities: cars, your personal home (and your second home, as well), boats, motorcycles and investment property that is not set up properly.

Assets: appropriately purchased property (maybe with an actual down payment to lower the mortgage which lowers the monthly payments which causes the property to have a positive cash flow), stocks and bonds that are paying dividends, businesses that make money for you while you are at rest or play; of course there are a few more but you get the point.

Well, just to make sure you get the point, your house, everyone’s home, is not an asset.

I’ll prove it to you. If I purchase a $100,000 house, will it do everything a $500,000 home will do? Can I sleep there? Can I eat there? Can I raise my kids there? Sure I understand we all want a nicer house with a three or four car garage to put all of our doodads and other liabilities in. I get it.

Three years ago you could hear some say: “The value of a house in America will never go down.” I get it. A house should be your largest investment. Right?

ONLY THE POOR AND WORKING CLASS BELIEVE THIS B.S. THE RICH, THE ONES THAT LOAN YOU THE MONEY, PUT YOUR HOUSE/LOAN ON THEIR BALANCE SHEET AS AN ASSET. FOR YOU, IT’S A LIABILITY.

SORRY. THE BANKS HAVE BEEN LYING TO YOU. THEY LET YOU LIST YOUR HOUSE ON THE ASSET SIDE OF YOUR BALANCE SHEET JUST TO KEEP YOU FROM JUMPING OUT OF THE WINDOW. BUT, (AND I NEED LARGER ALL CAPS FOR THIS) YOUR HOUSE, CAR, BOAT, JET SKI AND YOUR FURNITURE ARE NOT ASSETS.

If what you own does not produce income, it is not an asset. I told you I would prove it to you. Yes, I understand that your house may be an asset if it goes up in value.

Question: Are any houses in your area NOT going up in value? Any houses in your area costing the owner more than he thought it would? Any owners in your area strategically defaulting from their assets? No, they are strategically defaulting from their liabilities. If the properties were producing income, would they walk away? I told you I would prove that not all houses are assets.

Homework:

1. List all of the assets that you own that are really liabilities and include the monthly cost for same.

2. List all of your real assets, the stuff that produces money each month

3. List all of your doodads, how much you have spent on them.

Then read the next statement:

What should you do differently, what do you need to learn, what do you need to change in order to stop purchasing liabilities that take money out of your pocket every month and just as important, what should you do today that will cause money to come to you each month?

To your success,

Joel

Joel S. Pate, Founder & Chairman

OxPublishing.com

P.S. For more about how to build an incoming-producing business that puts more money in your pocket grab your FREE copy of my brand new e-book, Secrets to Create Your Own Lead Machine, in which I reveal the same strategies I used to build a 5,000 person referral network generating $27 million. To get your copy, GO HERE.