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Why We Need A Wealthy Mindset? | Master The Lingo of Money to Be Wealthy | "Master Investor" #wealth
Why We Need A Wealthy Mindset? | Master The Lingo of Money to Be Wealthy | "Master Investor" #wealth #biz #livestreaming #business #live #masterinvestor
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There is just one method we should invest if we intend to do so. The Master Investor method of investing is to make passive income.
Summary:
To become wealthy, we need to have a money mindset and financial knowledge.
Wealthy people have undergone a mental transformation to change the way they view money.
The secret to being wealthy is to recognize the distinction between knowledge and information.
Knowledge is wealth, and wealth is derived from knowledge rather than possessions. Moreover, knowledge cannot be only information, we must act on that information in our lives in order to gain the power and wealth that comes from true knowledge.
The fantastic news of a cool million
10% of retirees have funds of $1 million or more, according to Yahoo! Finance.
A million dollars can be saved, even though for many people that seems like a lofty goal. This is especially true if we start saving early.
According to the Bureau of Labor Statistics' median income data, if we begin saving 13% of our pay at age 20 and estimate a 7% annual return until age 63, we will be able to bank that million dollars.
Is this feasible?
However, that is a significant amount of assumption at a significant cost.
One reason is that savings rates are historically low and much below the 7% required to meet these savings targets. Furthermore, the employed income/expense models are merely unrealistic.
As per a Bankrate-commissioned poll of over 1,000 households conducted in March 2017, 46% of Americans save less than 5% of their earnings. Just 25% of poll participants stated they save at least 11% of their yearly income, while 19% indicated they save none at all.
Is it feasible for the typical individual to truly achieve the savings targets required to become a millionaire? Think about the expenses of a thrifty 20-year-old who needs to set aside 13.35% of his monthly median income of $2,288.
Unfavorable news regarding a cool million
Finishing reading the article: https://masterinvestor.substack.com/p/why-we-need-a-wealthy-mindset
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As we say here, “Money is just an idea backed up by confidence.” An asset puts money in your pocket. A liability takes money out of your pocket.
The simple definition of a fake asset is one that promises to make us richer but in actuality robs us blind. We need three things:
1- Capture Page (https://www.masterinvestor.education/pages/affiliate)
2- Email Auto Responder (https://www.masterinvestor.education/pages/affiliate)
3- Hot leads (https://www.masterinvestor.education/pages/affiliate)
Then, we need to offer something of value in exchange for their email and name. Then, after we obtained the visitors of our capture page's information and email address.
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