Does wealth equate to having lots of money and great income? It could be, but there’s more to those two. In fact, it doesn’t how it works.
The goal we all want to achieve is, for sure, to be financially independent. Isn’t it the ideal life every individual wishes for and tries so hard to acquire? The moment when you are on auto-pilot in making money works for you on and on passively that it allows you wider chances to be laid back or with your family or loved ones.
Doing things you love without the worry of running out of money for your basics as well.
To be on that level, at the top of the pyramid is, actually, nothing impossible.Catur Perkasa Land
To get a clearer idea of the essence of wealth itself, the wealth pyramid in the following can give you the bigger picture of how one positions himself in the financial spectrum. When you recognize the level you are in based on the wealth pyramid, you have built yourself a great foundation and a benchmark to pursue; a source of inspiration, indeed.
Wealth is unfortunately not built overnight. People with privilege, born rich and assured wealth before him even cannot make it in life, if he doesn’t understand how to manage that much money on his account. Therefore, we always want to begin with level zero of financial instability.
You may be rich, have money in your pocket, live your 9 to 5 well but then you have loans to pay, severe shopping habits, and of course have no financial reserves.
These people are not mindful about how to cope with life when they no longer earn their paycheque or are in panic during any emergencies where they have to spend more money on things they can’t predict. Also, they can’t get away from severe shopping habits to purchase unnecessary stuff. Although they have no pennies left they will keep continuing this habit by borrowing money and falling into a debt trap. Working on their sleeves to pay off every debt and then make another; live in a never-ending loop. No matter how much they make, they ended up spending more. They just don’t know when to stop and make them look like a fool at the end of the day.
How to get out from this level: change of mindset, a mentor, and to seriously get a grip on your financial account. Recognize and admit your bad habit instead of being in denial, find someone to educate and enlighten you on how to take control of your cash flow. Some great mentors are not alive but you can still track down their secrets to money success from books they have produced based on their experience in their golden times.
The fundamental level of wealth is financial stability. This implies that when you are forced to be in unfavorable situations from your company downfall, sickness, and many more, your life and your family will not be entirely ruined. This is because you still have some savings that can cover your living temporarily to buy you some time in looking for other new sources of income. In a nutshell, to explain this level on your financial spectrum is that you still have a ground to stand on from your saving but it can’t sustain most of your future.
How to level up: invest your cash flow into an asset. Make sure to find passive income that does not put you in trouble of working harder. Therefore, you need to be financially knowledgeable to master investment skills.
Financial security is achieved when you have collected enough assets of passive income to meet your most basic expenditures. You can stop working yet can still survive your minimum living expenditures. These would be limited to the following; your home mortgages such as utilities, rates, and taxes. Your automobile costs, medical insurances, and shopping costs for groceries.
Level 2 is all about increasing your net worth by investing in things that increase in value. At the advanced level of Level 2, you are starting to move from capital gains investing to increasing your net worth through developing your assets like renovating your real estate assets.
At this level, you have secured enough assets to produce several sources of passive income to cover your choice of lifestyle without bothering to toil hard again. It also implies you can now enjoy your time freedom and concentrate merely on maintaining your sources of passive income, protecting your asset portfolio, and reinvesting your investment to strengthen your financial power. This is not a phase of retirement but the momentum for growing your contribution.
This level makes up merely few individuals where they no longer have to think about financial planning or anything else. People are financially abundant when they still have so many earnings although they have spent it on their luxurious lifestyle or after giving so much to the community. Their cash just grows and grows even when they sleep like a log.
It requires more than just sums of money to make a person undoubtedly wealthy. No matter how much you have in life, money will never cut it for those who are not grateful and don’t know how to give back. Step up your financial gain by considering a valuable asset now with Catur Perkasa Land. Achieve financial security now by tapping here to see one of our properties available in great value today.