87. {Selah Saturday} Has Your Family Been Setup to Fail When It Comes to Wealth Building?

I have some thoughts for you today. Do you ever wonder if you
have been set up to fail when it comes to wealth? I've heard so
many interesting things over the last few years, with all the
craziness going on, that have got me thinking more about wealth.


We’re so used to the American dream and I love it, I’m all for
the American Dream. I can create a business, I can make money
while doing something I’m passionate about. There’s so many
wonderful things about it. But when it comes to building wealth,
I’m questioning what we’ve been taught. Are we doing it all
wrong?


If you look at the uber wealthy families, they live very
differently. We always hear that we shouldn't do business with
family. But a lot of these wealthy families do business with
family. And maybe they even live in the same family home. Also,
in different places around the world, multi-generational families
are living together. As opposed to our system where once you go
to college, you move out and all the different family members are
paying separate mortgages and rent, and all the money is spread
out in different places. It’s just got me thinking…


Seven Streams of Income


To start off, there are seven streams of income to diversify your
portfolio. The Bible even talks about diversifying, and I really
think we should. But, Americans often only have one stream of
income. They go to their jobs, maybe have a 401k and that’s it.
So, when they stop working, they’ll be in a tight place.


I think we need to be striving to diversify our income whether
that’s in real estate, stocks, online business, local business,
job, etc. And then how can we build in those passive income
streams, or make things as passive as possible.


If we’re only making money through our job, then we’re probably
not going to end up being that wealthy. Not that wealth is the
ultimate goal, but it makes you wonder why we’re in this system
that has us capped at what we can make at our jobs. Read
More...





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