The Home Business Wealth Formula

Hey Kevin Pritchett here:

There’s a tried and true formula for making money online(or offline for that matter).   This WEALTH FORMULA has absolutely nothing to do with tricks or techniques or closes or even what you sell……WATCH AND LEARN…

The Home Business Wealth Formula

Robert Kiyosaki’s brilliant board game “Cashflow” lays out the wealth formula in a fun, interactive manner.  At the start of the game you are given a profession with a salary and debt.  Your objective in the game is to progress around the board selecting various ‘deal cards’ which give you the opportunity to participate in various kinds of transactions.  Objective is to amass passive income that is greater than your expenses.  When you do achieve this level you get out of the Rat Race and then are allowed to participate in even bigger deals.

The game is quite fun and amazingly instructive of the way wealth really works.  Playing the game will also show you in graphic detail exactly why you are broke…it is extremely enlightening.

OK…in a nutshell for you……

Here is the formula:

Passive Residual Income  be EQUAL TO OR GREATER than your expenses.  Here’s what the arithmetic formula looks like:

Passive Income     >    Expenses

The key is having your income be passive..that is money you don’t have to trade time to get.

When I was working in a big law firm, I made plenty money…but I was trading 60-70 sometimes 80 hours a week for that money.  And if I stopped working…so did my income.

Many high income earners believe they’ve ‘arrived…big salary…big cars fancy house…  However, as long as you are trading  time for money…you’re in the same boat really as a factory worker punching a clock.  (Nothing against blue collar workers…my Mom was a blue collar worker and she raised me and my sister as a single Mom…big ups to all hard working people.  I wish I could have shown her the things I know now when she was alive…)

There are many ways to generate passive income….

1. real estate

2. stocks/investments

3. direct sales (online/offline)

4. internet marketing

5.  MLM/Network Marketing

6.  Insurance (trails and residuals on existing customers)

7.  building a traditional offline company with employees

The key is to find a system that is proven and that aligns with who you are and how you like to work.

Some people enjoy the real estate game…finding good deals, rehabbing, renting for income…. others enjoy building teams.

All strategies have merit and each has its own advantages and disadvantages.  And who is to say you only pick one…multiple streams of income is a basic tenet of entrepreneurship.

If you’re ready to explore possibilities for how you can escape the rat race, click the link below, watch the video and then hit me up on the Facebook group  below.

Here’s to you leaving the Rat Race
Kevin Pritchett
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