Could you live comfortably for the rest of your life on $10,000,000?
Before you say yes remember that money habits work the same regardless of your income. So good money habits on an income of $50,000 a year can translate into good money habits at $1,000,000 a year. With that in mind, bad money habits can ruin you regardless of your income.
We have all heard the news stories on how Nicholas Cage made 10 million dollars one year, and then filed for bankruptcy the next year. He has learned and is learning the hard way that is not how much you make that matters, but how much you are able to keep. Part of getting to our goal of making $1,000,000 in 365 days is knowing where we are right now.
Do you know to the penny how much you have and how much you owe right now? If not you can get a free copy of your credit report; and please do not fall for that free credit report with 12 months of monitoring line. Each of us is entitled to one free credit report per year. You can Google (Equifax, Experian and Transunion) to get their addresses. Then write to them and request a copy of your credit report. You just may be surprised at what you find on them.
We will be discussing some good money habits in future posts, as well as ways to keep more of what you make. Remember we want multiple streams of income to help us reach our goal. Income that we trade hours for, and income that comes to us while we relax at the beach.
Join us in making $1,000,000 in 365 days!