254: Grow Rich In Your Sleep
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 19 August 2019
⏱️ 35 minutes
🧾️ Download transcript
Summary
If I pay you $114 an hour to mow my lawn, could you get wealthy that way?
No. You’d have to work all 8,760 hours in a year just to make your first million.
Invest.
The definition of investing is: “To expend money with the expectation of achieving a profit.”
Then, are stocks, bonds, gold, your home, vacations, or income properties … investments? I discuss.
Damion Lupo, expert eQRP Administrator, joins us. Learn more by texting “QRP” in ALL CAPS to 72000.
You can have five simultaneous profit centers with income property:
- Leveraged Appreciation.
- Cash Flow.
- Return On Amortization.
- Tax Benefit.
- Inflation-Profiting.
To get ahead, you must give your money multiple jobs. That’s five in this case.
If you’re new to this: risk and frustration still exist in real estate. Your best-laid plans will be derailed sometimes.
It’s not “get rich quick”. But most people never acquire wealth at all.
Why switch your retirement plan to an eQRP?
- $55,000 annual contribution limit for single, $110,000 for married couples.
- Invest in real estate, hard assets, nearly anything.
- Creditor protection.
- eQRP setup has less red tape setup than SDIRAs.
- $50,000 line of credit.
- Avoid UBIT tax.
Learn more about the eQRP from Total Control Financial by texting “QRP” in ALL CAPS to 72000.
__________________
Want more wealth?
1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book
2) Your actionable turnkey real estate investing opportunity: GREturnkey.com
3) Read my best-selling paperback: getbook.at/7moneymyths
__________________
Resources mentioned:
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Weinhold. How do you give your money multiple jobs so that you can grow rich in your sleep? |
| 0:08.7 | Then a great guest updates us on a little-known investment vehicle that can change your investor life and save you a ton on taxes today on Get Rich Education. |
| 0:21.6 | Countless property investors get killed with maintenance costs, but that's far less likely |
| 0:26.3 | when you buy brand new construction. |
| 0:28.8 | Let me tell you about JWB real estate capital in Jacksonville, Florida. |
| 0:33.0 | They pioneered the build-to-rent model where you can invest in new construction turnkey rental properties. |
| 0:39.2 | That's why JWB was featured on the front page of the Wall Street Journal. |
| 0:42.8 | To learn more and see Inventory, go to new construction turnkey.com. |
| 0:52.6 | Finally, Total Control Financial gives you checkbook control of your 401k and IRA money to invest in real estate. |
| 0:59.9 | It's time to get your retirement money into your own checking account, but you've got to avoid the little-known tax that you'll pay with any self-directed IRA. |
| 1:08.8 | Instead, it's time for the QRP. |
| 1:11.9 | Learn more and get your free copy of the QRP book by text messaging, |
| 1:16.2 | QRP in all capital letters, to 72,000. |
| 1:24.8 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:32.1 | This is Get Rich Education. |
| 1:53.7 | Welcome. Welcome to Gare from Medina, Saudi Arabia, to Medina, Ohio, and across 188 nations worldwide. |
| 2:02.8 | I'm Keith Weinhold. This is Get Rich Education, and you are back in that abundant place where financially free beats debt-free. |
| 2:06.7 | Now, I want you to imagine yourself as a 20-year-old. |
| 2:10.6 | Imagine that I told the 20-year-old version of you, |
| 2:16.7 | hey, I will pay you $114 an hour to mow my lawn. |
| 2:21.3 | That sounds pretty amazing, doesn't it? But if you were to grow up and trade your time for money, could you ever get rich on just that alone? Probably not. In fact, |
| 2:28.2 | you would need to work every single hour in a year, all 8,760 of them, at that $114 an hour rate, just to make your first |
... |
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