Wealth is King: Learning to keep what you earn
Jun 25th, 2009 | By Tamal Anwar | Category: Wealth“Spend less than you earn until you are able to earn more than you spend”
Umm, that is an interesting though, (Spend less than you earn until you are able to earn more than you spend). In other words, do not spend what you do not have. Do not live off credit or borrowed money. Learn to live off 70% of your net income. Also do not quit your current JOB. Listed below is an outline to help you achieve financial success NOW!
Here are the five money streams for long-term wealth building.
- Job – don’t quite your day job. This part is the most guaranteed.
- Residual Income – affiliates and white labels.
- Small Business Income – on/off line stores.
- Investment Payouts – Forex, funds, metals (gold), and bank interest.
- Rental Property Income – Flats or small apartments, commercial build.
Note - Each of these money streams needs to have its own interest saving account.
Wealth is King wealth building system is here to provide a steady stream of money to you and your loved ones. Please and I do mean please, don’t quiet your current JOB, until you got at least what your current pay is * 25 + 60% of your gross job income pay (will cover health insurance/taxes) Plus $500,000. Here is an example.
Current Salary: $46,326 Amount Needed: (($46,326*25) + ($46,326*.60)) + $500,000 = $1,685,945.60 in your Exit Saving Account.
So please don’t quit your JOB until your exit savings account is in the blue. One point to make here is this account is not a new money stream but a back up to your job income stream.
10-70-10-10 Wealth Building Rule
- 10% – Pay some of your debts.
- 70% – All your day to day (living) expense are paid from this account
- 10% – Invest in your Small Business ventures – on/off line stores, Financial Markets, and Rentals.
- 10% – Goes into a Personal Saving Account
When you receive any income from any money stream always apply these rules and watch how your account(s) will develop more wealth for you and your family. If you don’t spend the entire budget money for that period let it roll over and collect some bank interest money. Don’t forget to do your own research and reading. Learn what works for you and your family.
Click here to order Wealth is King Wealth building CD Kit today.
Jesse James Collins info@wealthisking.com
I live and make money around the Detroit Metro Area. I’m married with 7 kids and a cat. I own a computer repair, Customs TV shop, and Wealth Is King. I love to read how make and keep money.
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