secrets of wealth by shaun gurmin
DESCRIPTION
This training session identifies what wealth is and identifies ways to achieve financial freedom.TRANSCRIPT
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Shaun GurminShaun Gurmin
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By the end of this session you will be able to answer:What is wealth?What strategies are there to acquire financial freedom?
Overview
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“Wealth is thoughts not things” Robert G.
Allen.
When Henry Ford was asked what he would do if he lost all his possessions, he replied “I’d have them all back in five years”.
A State of Mind
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Misconceptions
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Other People’s Time
Other People’s Money
Financial Freedom
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Cashflow Quadrant
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Goal is to have:
Income > Expense Asset > Liability
The Solution is (Wealth Formula):
Income -> Assets -> More Income
A Tip from Robert Kiyosaki: First buy assets, the income stream can then be used to buy expenses. After purchasing an expense, the asset’s income
stream is on-going.
Cashflow Explained
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Real Estate Investment:With a 20% deposit – other 80% is “other people’s
money”.
On-going income stream from rent.
May wish to save rent and remortgage property to realise increase in value and use money to purchase further properties.
May wish to expand this further into a Property Business; where you employ people to do the tasks for you – “other people’s time”.
Prime Example
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1) What is wealth?2) List as many as you can; common misconceptions
regarding wealth.3) What are the two key concepts to achieve financial
freedom.4) Which two Cashflow Quadrants lead to financial
freedom?5) What is the Wealth Formula?6) Give an example of how you could use other people’s
time and money to achieve financial freedom.
Quiz