Five percent of the planet is basically generational wealth somebody who’s worth $5,000,000 who has paid off their home and when they pass on they transfer all that wealth over that generational wealth but that’s. The five percent the 15 percent are the middle class they got a house they got little savings they go on a few vacations and they’re comfortable but where do you think? The eighty percent sets Darcy the 80 percent when they are older either a have to work to make money or B are dependent upon.
80 percent of real estate professionals:
The government or their family subsidizes their lifestyle so here’s the first thing I want to show you what 80 percent of real estate professionals do they get a commission check and that check goes into their personal account but this personal account is not an LLC an S Corp it’s not a corporation it’s a personal thing so what’s rule number one should I have a corporation yes or yes cut now you get all the tax advantages, yes or no guys let me show you what the fifteen percent do I get. The check goes directly into my business account right thesis writing help write a great thesis on real estate professionals.
Business accounts:
I get it wired in from escrow I don’t get physical checks anymore the money just gets transferred over but it goes into a business account which means now as you can see I’m going to have four different accounts at my bank I’m going to have my business account I’m going to have my tax account to me three accounts tax account business account and my home account my personal account ten thousand dollars hits my business account and the first thing that happens is instantaneously thirty-three hundred of the ten thousand goes directly into my tax account how many of you are in the state California or New York or in the country of Canada where many experts are given spss assignment help.
Expenses everything:
You get a check for ten grand and you’re lucky if you get 4500 but 3,300 bucks automatically go there then 3300 or less goes into your business account a check comes in I’ve got marketing a check comes I’ve got expenses everything that I need to run my business every check 3,300 3,300 and then what goes over here 3,400 bucks to my home because many times what do we get a check and we just start spending. The money is the. The cardinal sin is what poor people do they get a check and they just start spending this my friends is what the people do that take care of their money they know Uncle Sam or Revenue Canada or Mexico.
Tax account:
They’re taking their money no matter what so when I come in that Chuck comes in it automatically goes there I leave a piece here and the balance goes here this is what the wealthy agents do it’s a little more complex you get a $10,000 check. The $10,000 check goes to what account and 33 percent of it goes automatically where to my tax account because I don’t really have ten thousand I really have like you know six thousand and change this is where it gets interesting.
Don’t spend money on stupid stuff:
The money comes in and then it gets divided again you’re like I need four grand a month to come into the home expenses so I’m going to take you to know two grand of my 3300 where does the rest go do you have a retirement account do you put money in the stock market or in bonds or whatever you believe in 401 K what do we call this the fun account. The fun account you know I’m going to go spend this money on stupid stuff or I’m going to take this money and I’m going to use it for vacations and holidays there’s no more information that’s it.
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