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I have some thoughts for you today. Do you ever wonder if you have been set up to fail when it comes to wealth? I’ve heard so many interesting things over the last few years, with all the craziness going on, that have got me thinking more about wealth.
We’re so used to the American dream and I love it, I’m all for the American Dream. I can create a business, I can make money while doing something I’m passionate about. There’s so many wonderful things about it. But when it comes to building wealth, I’m questioning what we’ve been taught. Are we doing it all wrong?
If you look at the uber wealthy families, they live very differently. We always hear that we shouldn’t do business with family. But a lot of these wealthy families do business with family. And maybe they even live in the same family home. Also, in different places around the world, multi-generational families are living together. As opposed to our system where once you go to college, you move out and all the different family members are paying separate mortgages and rent, and all the money is spread out in different places. It’s just got me thinking…
SEVEN STREAMS OF INCOME
To start off, there are seven streams of income to diversify your portfolio. The Bible even talks about diversifying, and I really think we should. But, Americans often only have one stream of income. They go to their jobs, maybe have a 401k and that’s it. So, when they stop working, they’ll be in a tight place.
I think we need to be striving to diversify our income whether that’s in real estate, stocks, online business, local business, job, etc. And then how can we build in those passive income streams, or make things as passive as possible.
If we’re only making money through our job, then we’re probably not going to end up being that wealthy. Not that wealth is the ultimate goal, but it makes you wonder why we’re in this system that has us capped at what we can make at our jobs.
COLLEGE TO CORPORATE
It starts with being taught that to get a job, you have to pay to go to college, then you’ll be qualified for the job. But then that job keeps you capped. Was it really meant to be that way? I built a business so my income wouldn’t be capped. If you want true job security, you have to create it yourself. You can’t depend on the government or that job to keep you on forever because we’re all replaceable.
If you want control over your future, go build a business, because when the pay is controlled, people get controlled. So, we have a system that requires you to go into debt to go to college so you can get a job and then stay stuck in the system. And who knows what’s going to happen to social security, so we can’t count on that.
A COMSUMABLE SOCIETY
My next point is that we are such a consumable society. This means we consume more than we create. From eating out all the time, to buying cheap things that we need to replace. Is this really the way that God intended us to live?
I really pray, and I think we are in a season of bringing purpose back to family. We’re starting to think about what we want for our future and how delicate the hearts and minds of our children are.
In the USA, we’re starting to see relations with China & Russia deteriorate. So, we’re probably going to move a lot of our supply chain back to America, which will be really painful for a while, but at the same time, it will bring more security back to our country. And I think we’ll see a resurgence of entrepreneurship, people going back to serving their families and making their businesses the core mission for their family.
I am not sure what is to come but with the recession we are falling into, I really want you to be thinking of how you can take back your own wealth and build security for your family. Think about ways to diversify your income and build generational wealth.
TO ANSWER THE QUESTION
So, to answer the original question, I really do think we have been set up to fail in this giant system of things. The creators of the system want you to do what you’re told and not make any noise, but entrepreneurship is where we can really see things thrive and how we can break out of the system.
Most importantly, I think we need to break the mold. Instead of going from college to corporate, go build a business. And if you can build one, you can build multiple. It’s time to take back your power. I just pray that God gives you clarity on your calling, and your purpose, and even on the business that he wants you to build. Just step forward in faith. Keep the faith.
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