Do you ever find yourself wanting more money and wondering, when will it ever be enough? Join Rob today as he discusses how you can know how much money is enough for you and your goals. Discover how to become financially opulent, how to work out the overheads needed for your ideal lifestyle and how to invest your money wisely.
KEY TAKEAWAYS
- Think about your desired lifestyle. Do you want to be financially secure, financially free or do you want to be financially opulent? Being financially opulent means you are able to do what you want when you want, however this comes with huge responsibilities and massive costs.
- There are two types of income when it comes to how much is enough; Capital and Income. Capital is the cash that you have as the asset and the income is the stream that is kicked off from the capital. The capital can be held in cash and give you a low level return. You can take your capital, turn this into assets and get leverage on those. To be financially opulent, you need both capital and income.
- Work out your ideal lifestyle and what the overhead of this would be. Itemize your expenditures for both your current and ideal lifestyle. When you are doing your personal overhead, be realistic and generous with your current expenditure and how much it would cost monthly to live your ideal lifestyle.
- You need to invest your money wisely in order to see returns. Use Hargreaves Lansdown investment service to learn how to self-invest into your ISA , invest in diverse stocks or even property investment to get a higher return.
- The capital that you are investing into assets should be preserved. Many people save but quickly spend. Preserve and grow the capital because the capital is what creates the income whether leveraged or unleveraged. Save those lumps of capital and protect them in ISAs, stocks or investments.
BEST MOMENTS
“Capital creates security and income. “
“You want to invest your capital wisely.”
“A million should give you £50,000 per year.”
“Don’t erode, spend or slay the golden goose that is laying the golden eggs. You mustn't erode your capital, you must increase your capital.”
VALUABLE RESOURCES
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ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn: https://uk.linkedin.com/in/robmoore1979