Create Wealth 6 Steps To Retire Rich How To Make Money and Get Rich
www.ronald-taylor.com Create Wealth 6 Steps To Retire Rich How To Make Money and Get Rich. According to an article written by David Francis and published in the May 23, 2005 edition of Christian Science Monitor, nearly 20% of American households have either zero net worth, or actually owe more than they are worth. Furthermore, according to Francis, 25% of American households do not have sufficient cash reserves or other assets to support themselves above the poverty line for three months, and 33% of households do not even have an active bank account. What ever happened to the land of opportunity? Americans are killing themselves with uncontrolled spending, easy credit, and a complete lack of budgeting or saving skills. So how does one measure wealth? And, when does a person know if he or she has achieved wealth? For the purposes of this report, wealth is defined as an income level derived from passive sources that allows you to live without depnding on a job. Passive sources are any income source that throws off a positive cash flow, that you can bank or spend. For example, the cash left over from a rental property after all expenses are paid, is passive income. Likewise, interest from a certificate of deposit, or dividends from stock investments, are examples of passive income. With this definition in mind, the key to creating wealth is to figure out how to create and build passive income sources.
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