Overview of Lever 3: Accelerate Investment Income
Wealth Frameworks: Develop your own philosophy about money and investing so you are not sold someone else’s.
- What does wealth mean to you? What do you want your lifestyle to be?
Move from the methodology of Accumulation to Cash Flow by turning your stagnant assets into cash flowing assets.
Recognize that compound interest has limitations
Emphasize Velocity
Team: Co-creation through utilization rather than relegation. This is the Family Office concept. Finding the right people to help you strategize. Be sure to do your own due diligence!
Reach Economic Independence before you speculate: Forget taking risks that can slow momentum or create habits that lead to gambling. Create space where you can afford to lose without creating scarcity or putting your family or finances at risk.
Remove Distractions: Focus don’t diversify: In order to live a high quality of life, value your time. Dispose of things that get attention temporarily but don’t lead to economic independence or tap into your Investor DNA. There is only so much time to be productive and everything has an opportunity cost.
Financial Foundation: Transfer risks, insure quality of life, make your money work for you.