When I moved to New York City back in the day I went to Bartending School because you have to have a certificate from an approved Bartending School to be a bartender in New York State.
Now, I am not a big user of alcohol and don’t actually care much for mixed drinks at all. But, I like hanging out and interacting with people and the upbeat atmosphere in most places.
What do you learn in Bartending School? You learn about the different types of alcohol groups, the different brands, the various flavors that some liquors are derived from and about the laws of the state. It also teaches you how to look out for situations that may turn into trouble.
But, mostly what you learn is recipes on how to make the standard mixed drinks. It is really knowing the proportions, temperatures and various ingredients that change a drink from one to another. Now, most places have a drink menu of their own so you will have to learn how to make the things on their menu on the job training they provide.
What does this have to do with building wealth? Well, quite a bit actually. Because, in Bartending you have to stay current or you will forget recipes unless you have done it for many years. But, it has to do with consistently making drinks. That is what you do all day and night. Practice making drinks.
In building wealth you also have to practice everyday. Don’t let anyone tell you that you can take days off because you will quickly see that this doesn’t happen.
We aren’t talking necessarily about getting rich, but rather about building stable wealth with a recipe or formula about how to go about doing it.
What is going to be your recipe for building wealth for yourself? What are some of the factors to consider? Most of all, how do you even get started?
First of all, the first ingredient to creating wealth is to make more money than you spend.
This usually means that you get a regular job that pays a consistent amount so that you know how much money you are going to make and be able to plan for the money before you get it. It determines how much you can pay for rent, food, car, telephone, insurance and so on. Then what is left over is your wealth resource number 1. Your savings.
The first thing to do is do without some of the things now, so that you can save up enough to live on or 6 months to a year. Rainy day money.
What is the second thing to do?
Set up accounts for percentages of your money to go into, so that you budget and save for certain expenditures you will have.
Then you need to have a good bookkeeping system set up, online, or on a safe digital storage device and on paper. And practice using it on a consistent basis.
Thirdly, I believe the next thing that is necessary is to start your own business. I believe for beginners who are in the job market and don’t have a lot of time or money to begin with start a business online using affiliate marketing and network marketing. The experience and income you earn from that could quickly out perform your employment income, and then you can start investing into secure investments that will turn your money into money making machines.
In the beginning the numbers may be small, but it is all about accumulation. Over time, your investments will grow, your understanding of investments will grow, and in not too many years you could be earning a full time income from your investments.
What is a key factor in making enough money to live on through investments? It is having a lifestyle that doesn’t cost much.
Nothing is better than being debt free, owning your own place and car, even if it is a humble abode.
It is possible for a person to live on $3,000 a month in certain areas of the country, and doing that through investing and affiliate and network marketing are completely achievable.
At 3% interest, it takes $1,200,000 dollars to earn $3,000 dollars a month. That is what you are working towards, because that is the easiest way to earn income on earth. My Mom bought Bonds, and now there is a consistent income of about $1,200 a month coming in from them TAX FREE!
If you have an affiliate membership product that produces a $100 dollar commission every month, then all it takes is 30 active sponsored memberships per month to make $3,000.
So, if you have a job that produces a $2,500 income, earn about $200 – $300 a month from investments, and another $3,000 a month from affiliate or network marketing then you are heading for an income of over $60,000 a year.
If you can keep your expenses down, then the money you have to invest gets greater and greater it becomes a money machine.
What is wealth? Is it being rich? I don’t think so. Wealth refers in my mind to the word ‘plenty’. In other words, when you have wealth you have plenty of everything, which doesn’t mean a lot, it means enough and that you can go to sleep at night and wake up in the morning feeling secure because you are wealthy.
The desire for large expensive new homes, fast cars, huge vacations, high priced dining and all of the entrapments of our modern day materialistic world has nothing to do with wealth, it has to do with appearing to be rich. But all possessions give you is a house full of junk and things that are unnecessary.
Wealthy is someone who walks with a certain confidence in himself that is not related to things. He or she drives a 5 year old car, live in a modest neighborhood, plays golf at a public course and eats at home. You won’t know they are wealthy because they don’t manage their money to get things, but to become secure and established.
Today, I went into an employment agency. The lady behind the desk was not enthusiastic, and she said “How can I help you?” She obviously didn’t want me there, and I don’t want to be there.
But, here is the thing…what feels worse, asking for employment or showing someone how they can build an online business doing marketing and sales? What can make you more money? Which one are you in control of?
Yes, get a job, make your daily bread, but the real job is building wealth and there is a great way to do that. Affiliate and Network Marketing.
Build wealth with your own business income, a business that you don’t have to create, but get to sell in order to make it to freedom.