Hey, this is Sasha and thanks for joining me here for another video lesson. And in today’s lesson what I want to share with you is how to retire exceptionally well from your online business?
Stages of wealth
When we get into this, first I want to share with you the five stages of wealth and income producing strategies. When you look at this you have to first understand the stages of wealth. And the first stage of wealth is when you have no job and no money, whatsoever.
The second stage of wealth is when you have a job but you are working for someone else’s. This is typically where most people hang out is they have an amazing job but they’re working for someone else. They are typically exchanging their time for money. And this is the way most people create income.
The third stage is when you own the company and when you provide jobs. You’re providing jobs. Basically, you own a company to some degree or you employed people. Here you are the employee, here you are the employer. As you get to level 4, you start looking at things, now you’re starting to get into investing.
Now you take the money that you had up here or up here. You take that money and now you’re investing into other companies which that eventually grows your value or your account.
And finally, your fifth level is when you invest other people’s money. This is the highest stage that you can get to is when you start investing other people’s money. That’s ultimately the highest level of wealth income or generating wealth that you can get into it, investing other people’s money. If you’re investing, you’re doing still fantastically well but when you get into investing other people’s money that’s much better.
If you’re looking for retirement and retiring well financially towards the end of your life, you definitely don’t want to be in a no job, no money stage. Having a job but working for someone else exchanging time for money is okay but it’s not going to really get you to retiring really well. It will get you to retirement but it’s not always going to be well. Sometimes it just depends on the benefits you get with the company, how long you’ve been with the company. The thing has now changed a lot rapidly.
If possible you want to get to the point where you are personally the employer when you’re providing jobs for other people, this ultimately is the initial stage where you want to get to. And then anything on that is obviously a bonus. Investing if you’re investing, fantastic! If you’re investing other people’s money even more so, the better return.
Income producing methods
Our whole point or really goal is to look at income producing strategies or looking at income producing methods and obviously having a job be getting paid from someone else is not ultimately the best because then when you’re 65, you’ll going to have to do the same exact thing.
Now as you provide jobs, that’s ultimately where you want to get to. When you’re looking at retirement and when I start looking at retirement strategy, just starting to think okay, what are some things that as you’re retiring it also produce and get you more money or income.
Obviously, if you own a company and you’re just managing it, you could hire someone else to hire that company for you and then you’re producing money. We’re always looking for a producing income or money from the things that you do.
What are some things or career or ways that you could produce money from various strategies? Well, one of simplest approach is that you’ll see these two books right here is when you write a book. This is ultimately one of the most cost-effective methods to creating an income producing strategy for retirement.
Write a book
When you have a book like one of these, this is my business launchpad book or my marketing – your blog business book, when you have a book and you wrote that book, once that book is finished all you’re doing is selling that book, time and time again.
And you continue to write other books like for example for me I also have some investing books like 20 Rules for Investing Success, I have “How to Start a Profitable Blog Business that Makes You Money!” and so I have a lot of different books and materials that I constantly keep creating because this eventually even if let’s just say this book and it sells $50/ month or $200/ month of $500/ month I know every single month, month after month this just continues to make me money.
After single month, month after month. It continues to sell and grant that some months are better than other months but when you retired and you have a book in place even if you had it for 5 years before you retire it continues to generate you income, time and time again.
It’s an income producing asset that continues to make you money even if I’m not really working anymore. Because I’ve already created it.
Songwriter/ movie director
Another idea or concept like writing a song or a when you’re a performer or a musician or you create a movie. Song or movie is an art form. But again if you write that song, you get royalties. Every time that song is played on the radio, every time someone buys that track you’ll get royalties.
Now, of course, let’s just say from fifty years ago the royalties are not going to as great but even so for the next five years or ten years later down the road, you still might be getting royalties, your royalties might slowly drop off similar to how my book is. Initially, you might make a fortune because you’re a New York times best seller or just gets a lot more exposure. It’s more relevant for time and with time that it will drop off there’s still going through somewhat kind of have that flat line and you’re still getting some sales. Some people are still purchasing. It still another concept or thing that’s generating income, time and time again.
And if you look at some of the Video Courses that I have this is also again similar to a movie, again an income producing asset that I’ll continue to make money time and time again. And when you have these things, I’m not saying you need to be a songwriter or movie director or creating video courses but you need to start looking at things even if you invent something. You need to start looking at something that will continue to produce money for you every single month, month after month where is not a factor.
And this is all where you want to get too. And then you take this money, all the money that you make from this and you put it and you invest it into whatever asset that you want to invest in.
Basically, that’s your ultimate goal and that’s how you retire very comfortably and really well by having this income producing assets that continue to make you money time and time again.
All right I hope this video was helpful and gave you some insight to thinking about the bigger picture, about the future for retirement. For what you really want to do with your online business with your regular business, that’s what you want to focus on. And that’s what you really want to look forward to, that’s something that’s income producing. And then once you have that income producing things set up, then take it to the next level, look at investing or investing other people’s money.
That’s what you want to do, is you want to constantly evolve your wealth level. If you’re working for somebody else or if you don’t have a job right now, you need a job. You need to find a job to someone else and after that, you want to take it to the next stage. You want to be the employer, where you have employees or people working for you. Then you take it to the next level, taking that money – investing it. And then from there you’re investing other people’s money and so on and so forth.
You continue to build on these things time and time again. And you grow there, some people can hop and jump up a few levels at a time. It just depends on your personal situations, other people have to go through those levels, step by step.
I don’t know your personal situation, that’s what you want to look at.
In either case, thanks for joining me this video. If you’re enjoying this video and you want to get on my newsletter list so that way you get notified when new training videos are released, click this button right here and when you get there enter your name and email address and you’ll be added to the newsletter list. If you want to continue learning and watching some of the other videos that I have, just click this thumbnail and you’ll continue learning with me.
In the end remember, do what you love, contribute to other people, but most importantly live life abundantly. I’ll see you next time!
Resources & Helpful Tools