Here’s a snapshot of a few things I talked about…
- Read Rich Dad, Poor Dad
- Time is Your Greatest Asset
- We Must First ‘L E I’
- Make Sure That You Are Investing
- Use Your Business to Balance Personal DTI
- Do the Research Before Investing?
- Business and Taxes in the U.S Economy
- Understand The Principal Core Concepts
In This Episode, You’ll Learn:
In this episode, Casanova talks about how you can get to the next level when it comes to financials.
The number one thing that Cas did when he first started off, really wanting to go after a life by his design, is that he picked Rich Dad, Poor Dad by Robert Kiyosaki. It taught him that he was trading his time for money while working in sales.
He truly didn’t have leverage in his life, and he wasn’t really going after his greatest asset, just like everyone else’s; time. The other thing that it taught him was that he was attaching his income to hours. He wasn’t attaching it to assets.
Cas decided to put all his eggs in the basket of real estate because it’s the one thing, we can’t make anymore. He further adds that another thing we should do is ‘L E I’. First, we must learn, we must apply it. So, then we can earn, and last, but definitely not least we must invest.
Cas suggests passive income opportunities, where you do the work up front and then that money keeps coming in on the backend. Like you buy a real estate property one time, and every single month that money comes, coming in without you having to do the work.
One advantage of having a business is that it can help you keep a good DTI, or debt-to-income ratio if you acquire assets such as a car through your business. So, that’s what you have to figure out, how can you invest more?
The first thing before investing in a business is education or research. In the US economy, business and taxes hold a significant position. If you have ownership of a business, you can have taxes work on your behalf.
Cas share something that he learned; the poor people, they work, then they are taxed, and then they spend what’s left. The wealthy people, they work, they spend, and then they’re taxed on what’s left. Understanding these principal core concepts will allow you to get ahead.
It is pretty simple, and dust by having a side hustle where you can go and get you an LLC. and as long as you sell one product a year, this means that you have a business. If you have that business, especially if it’s a real estate business, you’re able to appreciate a lot of your expenses.
Using those core fundamentals that we want to make sure that we can always be building our assets, our legacies, and our financials.
- “[Time is] the one thing that we can’t get any more of. It doesn’t matter how much money that you have…”
- “You want to make sure that you have enough cash flow coming in from passive opportunities…”
- “In the US especially, the economy is built off of two things, one business, and then two, taxes…”
- Rich Dad, Poor Dad by Robert Kiyosaki
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