Residual Income Through Real Estate(Mini Course Module #1)
Before we get started, there are a few things you should know. First of all, the term “Net Worth”. What exactly is that? Net worth is simply the sum of assets minus the liabilities. This, however, simply does not state the whole story. Each year, Forbes magazine shows the distribution of net worth for the United States.
The Forbes graph shows that 86% of the people make $250,000 or less each year. Yet, this constitutes only 26% of the net worth pie. Only 10% of the population makes more than $350,000 per year, yet that 10% is controlling 68% of the net worth of this country!!
These statistics are not meant to upset you. I would however like you to keep them in the back of your head as you read through this guide. So you understand how most of the money is made in America.
Most people make their income linearly, which means they have a “Linear-income”. This simply means that for every hour they work they get an X amount of income.
With a linear-income a person must keep working if they want to keep getting paid.
In the United State the average person works a 40-hour workweek not to mention all the other time spent away from the home due to having to work. Let’s say that the average is 50 hours per week.
If you consider that the average person gets 2 weeks of vacation, you will see that 2500 hours per year are spent on the job. Take those hours over the typical 45-year work span, and you will have worked 112,500 hours!!
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