The Minority Mindset Show The Money System That Will Make You Wealthy Forever
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Feb 6, 2025 Discover the crucial distinction between being rich and truly wealthy. Learn why high income doesn’t equate to financial security. Uncover the lifestyle inflation trap and how to sidestep it. Explore the 75/15/10 system to automate wealth building. Understand the importance of paying yourself first and identify the best long-term assets to invest in. Dive into active versus passive investing and why real estate and stocks are key to wealth. Gain insights on creating financial protection for true freedom.
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Rich vs. Wealthy
- Rich people work for money, while wealthy people make money work for them.
- Wealthy people understand how to use their income to generate more income.
Three Types of People
- Average people use debt to fund their lifestyles, rich people must work to maintain theirs, and wealthy people's assets pay for theirs.
- Wealthy people's lifestyles are funded by their investments, not their jobs.
Invest, Don't Inflate
- Invest as much of your income as possible into assets that will pay you back.
- Avoid lifestyle inflation; invest more as you earn more, even if it requires sacrifices.