Income is King
The most important step in the Wealth Creation Formula is creating income. Income is King and without income, you will fail financially. It’s that simple. How important is income? There are countless stories of professional athletes who have become broke, filing bankruptcies, and working regular jobs after retirement. Of course, their bad spending habits, bad investments, and poor money management have led to their financial downfall.
But the one key that most people miss is that once those professional athletes retire they do not produce those million dollar checks anymore. Their professional careers are over and they stop producing that income. Regardless. if they lived a lush lifestyle if they still had that big payday they would be OK.
Once the income especially those million dollar contracts dry up they are in trouble. They still have to produce income after their careers are over. According to Sports Illustrated, after only 2 years of retirement, 78 percent of NFL players were either broke or struggling financially. Within 5 years of retirement, 60 percent of NBA players are broke. When you have expenses and no income to match it the only result is going broke.
Start Where You Are
Income is your source of wealth. Your job or business is the key. Whether you like what you do or not it is producing income. Furthermore, if you are making money there is a chance to create more of it. What I love about the Wealth Creation Formula is that it gives you a blueprint that can be applied to any profession, career, or job.
The best place to start is where you are now. You have a source now it’s time to milk it before it dries up. Your job or your business brings in money. Your next step is to increase your income flow. I will teach you how to do that in the next lesson. For those of you without an income. Go create one now.
If you have a job or a business look for ways to create more income form that flow. If you are unemployed, well you need to get some money. Go get a job, sell some stuff online, go to the streets and beg. You have to get an income flow. You will not get rich without earning money. The question is what can you do now to earn money?
Learn how to create income. You have strengths and a skill set that can get you paid. But you have to learn how to develop it. Your job trained you on how to be employed. Thus you perform their duties and you earn money. With that being said now it’s time for you to learn more to earn more.
Charles Fitzgerald Butler is an entrepreneur and expert in sales and marketing. Charles has a passion for helping people start and run a successful business. You can partner with Charles and start building multiple income streams from your home. Charles’ goal is to help all who partner with him achieve cash flow and profits from their business.