a woman I’ve met a few times, overheard me talking with my friend about assets. She jumped into our conversation and said, “I’m so fortunate. I just received a big asset, a large inheritance from my uncle.”
My friend asked her, “What are you going to do with it?”
She said, “Well, the first thing I’m going to do is take 20 family members and friends to Hawaii for two weeks. First-class hotels, yachts, whatever they want. I’ve budgeted about $300,000.” Our jaws dropped open.
“And then what?” my friend just had to ask.
“After Hawaii,” she said, “I’m going to start looking for a new home with a big swimming pool.”
We smiled, wished her well, and moved on. Even an inheritance may not be an asset.
The strategy to achieve infinite wealth, where the cash flow coming in is equal to or greater than your monthly expenses, is very simple:
Acquire assets that give you cash flow.
It’s no secret that wherever you put your time, energy, and focus will grow in your life. So if you want to achieve your financial dreams, you may want to put your time, energy, and focus on acquiring assets.
Asset-Column Tip
Here is one rule you may want to adopt that Robert and I have held to since that first two-bedroom, one-bath house. Once a dollar (or a peso, euro, yen,… ) goes into the asset column, it never leaves the asset column. You may sell an asset, but that money then buys another asset. Too often I hear a woman say, “I bought my first asset!” only to learn that, one year later, she sold it to buy a new house or car for herself. So I’ll say it again:
Once a dollar goes into the asset column, it stays in the asset column.
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