Three speakers explain how to build wealth by buying income-producing assets instead of consumables. One example: skip the $1,500 golf clubs now, buy an asset that generates $1,500 monthly, use the first month's earnings to buy the clubs, then keep the $1,500 every month after. That's a "dollar baby" that funds your lifestyle forever.
instead, just knowing that the real flex is, uh, um, use the assets to buy freedom. And that's the part where we miss, right?
Yeah, it's like, uh, once you've bought something that you tend to consume, the money's gone. But if you will use that money to go into the streams that are going to be creating more of it, then you'll have more money left over to buy the things that you can consume. But once you've consumed it, it's gone. So you have to really be intentional with Okay, is this dollar gonna— is that it? Or am I gonna be able to take this dollar and create lots and lots of dollar babies?
So one of the things we talked about last night is we talked about like the son wanted to buy these custom golf clubs, you know, and they love playing golf, which I think is amazing. Now what if rather than him taking the $1,500 and going buying those golf clubs, went and took that, bought an asset that threw off $1,500 a month bought the golf clubs, but now the next month he has another $1,500 and another and another and another, right? That changes the whole dynamic of what having your passive income pay for your lifestyle. Because if you design it and have enough discipline to go, wait a sec, I'm going to go buy an asset that's going to pay for this, but then understand it's going to continue to give you cash flow so that you can keep going and buying more toys or making a difference, whatever it is. You designed it for this one thing, but now it keeps— it's the gift that keeps on giving.
I was just going to say, it's just like, like when you build an offer that's like an evergreen offer that just keeps on going. Like, you know, Kathryn and I both wrote several books. Well, those books are going to pay us for the rest of our lives. We had to do it one time though. So you just have to really start thinking, okay, what do I want for my life and how am I gonna get there? Yeah.
