Category: Assets

How to Build Assets for the Little Guy

By: Phillippe Jackson

May 12, 2018

 

 

After spending a lot of man hours researching assets, one thing has become apparent in order to achieve my goal of financial freedom. It takes a lot of capitol to build an asset up big enough to provide a substantial monthly return. This revelation is a bit deterring, none the less my determination is a lot more durable than I even realize.

So to raise my capitol I decided to research passive income. Passive income is income the takes hard work in it’s initial start up phase but after the work is done then it provides an income with little effort. Searching this topic has produced an incredible amount of valuable information. There is a treasure trove of free information and strategies on the internet backed by real people from diverse backgrounds. All of these passive income gurus all mention assets but it is not there focal point.

There are three strategies for passive income that I am going to look into personally to try and boost my investing power.

First one is affiliate programs. This is basically marketing products for other companies. Amazon is a big one when it comes to affiliate marketing.

Second is e-commerce. It is apparent that there is a lot of money to be made here. Simply put, it is an online store that you own and operate. If you’re like me and you own some form of a website whether it be blog or personal page, then this might interest you.

Finally the last one that interested me was E-books. Kindle has taken publishing e-books to another level. If you have an old story that you wrote sitting in your hard drive than this might be for you. I plan on using this strategy of passive income when I start seeing results from the other strategies.

In conclusion, since I do not have an investment budget that I am happy with I have decided to create passive income for myself in order to grow my investment power. The more I learn about the path to financial freedom the more I am doing and taken action. It is a great feeling!

My Mission: Financial Freedom

May 13, 2018 Phillippe Jackson 0

What are Assets? The Basics

By Phillippe Jackson

May 4, 2018

 

If you have done any kind of research on building your wealth and becoming financially liberated, then you might have clicked over a few videos with a common title.

“What Rich People Buy That Poor People Don’t”. You might have seen this a time or two in some variation or another.

The answer will always be assets. After reading RDPD, I’ve adopted Mr. Kiyosaki’s definition of an asset. Assets  are anything that puts money in your pocket. It’s a very simplified definition of the term and easily applied. Standing opposite of assets are liabilities,  which take money out of your pocket. To be financial free, you most grow your assets and allow them to pay for your liabilities.

With the adoption of the basic understanding of the terms, I am fortifying my foundation to create my financial freedom.

I have started training my brain to recognize which is which. For instance, I see a brand new car fully loaded that more than likely has a high monthly payment. That car would be taking money out of my pockets which makes it a liability. Further on down the street, I see a house with a for rent sign. That lease will provide money every month to the owner which would make it an asset.

I would encourage others to do this same exercise. It can be fun and it is so easy to do when it comes to preparing your brain for financial success.

Now that these terms are burned into my brain. My next step is to see how to obtain assets and grow them.

My Mission: Financial Freedom

May 9, 2018 Phillippe Jackson 0

Broke and Pissed!

By Phillippe Jackson

April 20, 2018

 

Here I am, approaching 30, with a wife and a growing family. It seems like no matter how hard I work, or how much family time I sacrifice, I am getting no where in life. I feel like I have made progress. However, I am disappointed  that I find my self in the same everyday routine feeling stuck. My money is tight and it seems that everybody wants what I worked so hard to get. I look at my paystub and others take their cut before it’s passed down to me. I’m left with scraps while everyone else seems to be enjoying their meal. I want, but I cannot have. I need, but it’s out of reach. I save, but something always comes up. I am broke and I’m pissed.

Can you relate?

If you haven’t felt the financial strain coming from the cold, hard grip of reality, then consider yourself lucky. Debt.com reported this year that in 2017 about 49% of Americans are “concerned, anxious or fearful about their current financial well-being”.  I must admit that I am among this crowd.

Then there’s another crowd not mention. A crowd that seems to be indifferent to what is going on. The individuals in this crowd have found a way to financial freedom. They broke free of there 9-5 hamster wheel and are living their lives the way they see fit. Now I ask myself, why am I broke and pissed and not in this crowd.

Money scare. The fear of not having money is what Robert Kiyosaki teaches in his book Rich Dad, Poor Dad.  This fear keeps us on the same hamster wheel day in and day out.  As if the wheel was connected to a bomb and if we stop running our lives would be destroyed.   This book is one of the first titles I picked up in my search of financial answers. This resource has opened up my mind to a new line of thought and challenged my way of thinking concerning my finances.

After expanding my knowledge from the help of Mr. Kiyosaki and  some self reflecting, I realized that my financial freedom is being prevented by none other than me. Now I am even more pissed because I found out that it was that s.o.b. in the mirror who has kept me on this hamster wheel. I let my expenses get the better of me with no attempt on building up my cash flow. I let myself stay financially illiterate. I have been misusing two of my most important assets. My brain and my time. With help from a paradigm shift, I can finally start breaking free from the rat race.

The goal is to strengthen your brain by becoming financially literate and raising your financial IQ. Learn the things that they never taught in school. Utilize your time by finding  ways to invest  into assets.

Yes I’m broke, but being broke is temporary. Being pissed about it isn’t going to improve my situation but it does drive me to better my situation. Needless to say I’m broke and pissed and on a mission. There is a wealth of knowledge in the world and with today’s technology it is at our fingertips. Information is today’s hottest commodity. I’m here to harvest that vital knowledge and share it with everyone I know and use it myself to reach my goal.

My Mission: Financial Freedom!

 

 

 

 

 

April 20, 2018 Phillippe Jackson 0