Faith Heart Magazine Jewel Tankard - Page 23

John 10:10 says that He came that we may have life, and life more abundantly. An abundant life full of resources and experiences that makes great impact and helps others is God’s desire for us. However, its vitally important that we have the right perspective of wealth and also that our actions are in alignment with our faith. Remember, the average person is probably not qualified to inform you of the subject of building wealth, especially if they haven’t built it for themselves. With this in mind, let us define what wealth is.  Wealth is not necessarily a Rolls Royce, a Mercedes, or a mansion.  I have seen tons of people who have acquired those things, but When most people think of wealth, their debt-to-income ratio is extremely people on television or magazines high.  Wealth allows you to maintain may come to mind.  Or maybe a assets, not liabilities. scene from the red carpet comes to   mind.  But the reality is, any man Let’s define what an asset is.  Most or woman who is determined, people think their home is an asset, teachable, and intentional can but a real asset is one that will create become wealthy. cash flow.  For example, if I buy a   home for $20,000 (which is very The first thing I want you to do is to possible in the city of Detroit right determine that you deserve to be now), and I rent that home out for wealthy and that you can be $900/month, that would be considered wealthy. an asset.  The reason being is that the home is creating residual income for The second most important thing to me every single month.  After 23 do is to find a financial mentor who months, I have all my money back, I you can trust.  Someone who has own the property, and all of the rental consistent results in her own life.  payments are a profit to me—free and So many times, I see people ask clear.  If I take $20,000 and invest it in others about money, but they tend an oil well (and most wells pay out to ask those who have never somewhere between 5 and 20 years), experienced positive cash flow in then after a couple of years, I will have their own lives.  gotten my initial return on investment and it’s all pure profit thereafter.  FHM 23