As an entrepreneur, small business or practice owner, or high-level executive, do you ever find yourself wondering if you’re using all the tax, entity and wealth strategies available to you or if your investments are truly producing all they could be? Happily, you don’t have to put up with that any longer. I have the solution. Real Money Talks! We're having the right conversation about money.
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How to Avoid the Trap of a Money Lifestyle Cycle
If you are a hardworking person who wants to give the best to your family, it is natural for you to go over your monthly expenses and make sure that there is enough money to pay for all your needs. These necessities may include your household utilities, food, mortgage, car loan, college plan, and the like. And every month it’s always the same – you get your paycheck, and after ten minutes of holding your hard-earned money, they’re all gone and put away to account for all the necessary payables. Many people do not know that this is a lifestyle cycle, but you have the choice, just to carry on or start living the wealth cycle.
Today on the Real Money Talks podcast, I am going to talk about the difference between the Lifestyle Cycle and the Wealth Cycle. As you listen in, I want you to look at your behavior and assess which pattern you’re living out. Are you designing your life to be rich? Where are you spending your time and energy? Once you have figured it out, remember that the change in your thinking and spending can make a whole lot of difference in your goal to be rich because it is an activity that requires time and energy. It is a choice. Make yours today.
Focus on income and assets, not on liability and debt.
In This Episode of Real Money Talks:
- The one system about becoming a millionaire through tax planning, proper corporate structure, trust, and insurance
- The wrong focus and thinking associated with the Lifestyle Cycle
- Definition of Lifestyle Thinking and how the society has designed you to be monthly-payment thinkers
- How you can see where your focus is – either in the inflow or outflow of money – as you do a simple project by documenting yourself for a month
- What the Law of Attraction is and how it contributes in reaching your desire to be rich
- What the Wealth Cycle is and the world’s view of it together with how corporate people live out this cycle
- Understanding debt and how good debt becomes a leverage
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Loral Langemeier is on a mission – to educate and empower the Real Money Talks community on how to have those important money talks that are straight, to the point, and can be applied to every aspect of your life. So, tune in every Monday, Wednesday, and Friday on iTunes to learn, ask Loral a question, and create your path to financial freedom! Don’t forget to leave a review and grab your free gifts on AskLoral.com!