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posted on:
7/3/2012 5:46:45 PM EST
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One Secret to Wealth The Middle Class Almost Always Gets Wrong
mike dillard, investing, home business, one24, snackhealthy, day 1, not mlm, network marketing, hbb, wahm, wfh
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Excerpt from Mike Dillard's EVG Group (and Mike is a true multimillionaire) which I'm a subscriber of his newsletter.
Excerpt begins...
One Secret to Wealth The Middle Class Almost Always Gets Wrong
I want you to picture in your mind what “striking it rich” looks like. Close your eyes for a second and think about it.
EVG Research Team here. Most people think that striking it rich means coming into a lot of money all at once...
A huge inheritance. A lawsuit settlement. Hitting a jackpot on a slot machine. Winning the lottery.
Those kinds of financial windfalls do happen. But they’re rare. Extremely rare.
Most wealthy people did not get rich by a stroke of luck. In fact, just the opposite.
In just a moment we’re going to share with you a single little secret that could completely transform your life.
The wealthy have used this secret for centuries to amass their fortunes.
And here’s great news for our international readers: this strategy is NOT limited to the United States. You can use this anywhere in the world.
But first a warning...
This secret is nothing fancy. You may even feel insulted by its simplicity.
Most poor and middle class wage-earners will never appreciate -- or believe -- that rich people build their wealth using this secret.
It’s too bad. Because while they’re chasing every get-rich-quick scheme, they’ll actually be getting poorer every day. While the rich keep getting richer.
But…
If YOU have the discipline to learn ... and implement ... this one little secret to wealth, you’ll be head and shoulders above everyone else... and well on your way to building your own personal fortune.
How do we know this secret works? Well, all the ultra-wealthy use it.
In fact, there is a particular man who has gone into detail about this secret. His name is Mark and he built a $50 million empire primarily using this and a few other wealth-building secrets.
He shares his wisdom in Module 15 inside the Elevation Group membership site. (view our free Webinar to see if The Elevation Group is right for you.)
Are you ready for the secret? Here it is:
Invest for Income, Not for Capital Gains
Told you it was simple.
But before we go any further, let’s make sure we all understand what a capital gain is.
In short, it’s the profit you make when you sell something. If you buy Apple stock at $300 and sell at $500, you have a $200 capital gain.
If you buy a house for $150K and sell it for $250K, you have a $100K capital gain.
This is how most of the middle class thinks wealth is created. Buy low, sell high.
It’s the model of investing that’s been drilled into the middle class for an entire generation.
It works great when the stock market or house prices are going up...
But it’s a curse when that trend reverses.
In fact, it’s such a curse that Mark puts it this way...
The Rich Hate Capital Gains
To explain why, here’s a little quiz:
Let’s say you and I are good friends. I own a successful business. You have $100 to invest and you decide you want to invest in my business.
You verify that my company has grown by 500% per year over the last few years, so you’re excited and ready to invest right now.
I give you two choices:
1. You give me $100 right now. I promise to give you $10 in six months. Then at the end of the year, I’ll also promise to give you back the $100.
2. I’ll take your $100 right now, and at the end of the year, I’ll pay you back according to the percentage my company grew. Since my company has grown 500% per year in the past, you could easily make $500 based on past performance.
Which option would you choose?
A surefire $10 with no loss of principle (what you invested) ... or the chance to turn your $100 into $500 in one short year?
Be honest.
Most people choose #2, even if they SAY they’d do #1. It happens in real life investing, too.
People love to chase the big-payoff. You see, we all have a kind of get-rich-quick gene hard-wired into our nature.
We think if we can just get that one big payoff, then we’ll be set. Get lucky once and we’ll finally be rich.
That’s not how the wealthy think.
The rich will almost always pick option #1 in our little scenario. Why? It’s a sure thing.
In our story above, the smart, wealthy investor would much rather take a fail-safe return without risk than to shoot for a potentially huge - but uncertain - capital gain.
The rich rarely get the thrill of a huge payoff. They don’t mind, though, because they know they won’t get the agony of a catastrophic loss, either.
See, the rich don’t invest because it’s fun or exciting. This isn’t a game for them. It’s about making money. Period. *
Resources:
* EVG Group theelevationgroup.net/presentation/register.php
P.S. "One24" and "Day 1" are like how the rich invest, but not only in getting wealthy for oneself, but to help others through charity, i.e. study as she goes in a very calculated and predictable way over the long haul.
www.seoforce.124online.com
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