Good Day Gang!

You already know it’s JHCO. here to bring you satisfaction and a whole lot of action in today’s post, I’m sharing the plan on how we all can become millionaires. Let’s get right into it.

You shall remember the Lord your God for it is he who gives you the power to get wealth. –Deuteronomy 8:18

The Millionaire Plan

I survived two years without a job but it was the hardest financial time of my life. I never recommend quitting your job to chase your dreams unless you are all in.

Jobs are stepping stones to building your dream life. Learn skills, pay attention to the structure of your organization, how they market, run ads, sell products and who their target customer is. Invest that income to build your dream life.

7 $treams of Income

The average millionaire has seven streams of income it’s not easy building the streams but with patience and persistence, anything is possible.

1. Earned – 9-5 job.

Your first stream will come from your job this is earned income money you work for but there are only so many hours in a day so you will need to learn how to make your money work for you.

And take advantage of your jobs opportunities that they provide to have your money work for you such as 401k, employee stock purchase programs etc.

2. Profits – selling and buying.

Profits are better than wages so when you “get money, buy income.” Meaning using the earned money to buy assets and things that will bring you income like stocks, or businesses. Many people drop the ball here by buying stuff instead of assets to buy your stuff.

3. Interest – from lending others money.

Compound interest is the 8th wonder of the world it can be used to keep you in debt or it can be used to become debt-free and only you have the power to decide how you’re going to use your money to buy you time or use your time.

Slightly different but will have huge impact on the life you and your family will live.

4. Rentals – for owning rentals.

When I say to get money buy income this is what we mean buy real estate as soon as possible. Real Estate made more millionaires than any other industry. Even if you are not a real estate mogul owning your first home is a big step in becoming financially free and owning Real Estate.

5. Dividend – from owning stocks.

Stocks are nothing more than business and when you buy a stock you are buying a piece of that business. When investing in stocks there are two ways I invest.

  1. I buy into companies that I use and that I believe in, you can never go wrong because it’s something you resonate with and believe especially if you’re using their products and services. For example I’m Herbalife Nutrition distributor so I also own stocks in the company.
  2. You can buy into match the market stocks like S&P 500 and when they up you up when their down your down but if you play the long game your guarantee to win.

6. Residual – subscriptions.

Creating once and selling twice is a great way to use your intellectual property to make you rich. For example, we have social media marketing courses we made once but sell over and over and over again.

You can do the same by creating something you are knowledgeable and passionate about putting it into an ebook or course package branding it and reselling it, sitting back, and collecting your checks.

7. Capital gains – your assets increase in value.

Real Estate, Mutual Funds, Savings, 401k, Roth, Index Funds, Businesses, Brands, and Stocks are examples of assets that can benefit from capital gains. Collect assets by all means necessary as this is your portfolio for building wealth and becoming a millionaire.

Conclusion

Get money buy income is the major key out of all the topics I cover. We all get income from our jobs but what we do with that income is determined by what kind of lifestyle we’ll live and if we’ll become millionaires or not.

Step by step gets money from your job pay your bills take care of business but then use that extra to buy income such as stocks, 401k, Roth IRA, start a business, and buying and selling are all ways to take steps to becoming a millionaire.

It’}| less about making money but more about how you manage your money, I gave you all this game but it will be in vain if I don’t give you a way to start. I use stash to buy stocks and I recommend you to it’s easy, we’ll both get Free $20 worth of stock if you sign up today.

Start Investing Here

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