The difference between wealth and
lifestyle is the single most-critical ingredient in life: TIME
The typical life-model is to get a
well-paying job and keep it! The challenge is, to earn a
comfortable living from this typical model these days, requires more and more time. And
the statistics show that even
this doesn't work!
Doctors, Lawyers, Dentists and the like, earn a substantial hourly
income... when they are billing; Vacations, sick leave or any time away
from the practice results in a stop of income... BUT the
overhead costs continue! Go to the office; get a salary. Go
to the factory; get a wage. Be an Engineer, a Technician, a
Clerk, a Banker, a Trucker - stop working and your income stops.
|
Take
the Test: Without telling anyone, if you did not show up for
work tomorrow, .... or for the next 3 months... would you still get your
pay-cheque? No? Well that is what we call Temporary
Income. |
Permanent
Income on the other hand is income that does NOT depend directly
on your involvement. The only way to develop Permanent Income is
through LEVERAGE - one of the
fundamental mechanics of wealth. If you research those who are
truly wealthy, you will find out that a great majority of them have
employed leverage to generate their wealth. See
Who
Uses Leverage.
