The Five Wealth Secrets 96% of Us Don’t Know the author says it is important to follow the 5 steps just the way they are, without skipping either, implement them sequentially.
You need to have a plan that ensures none of your children will take a mortgage. The reason why the majority fail to do so is fueled by buying things that depreciate by using debt and have no financial plans for the future. The author of Five Wealth Secrets 96% of Us Don’t Know, points out that people who practice the 5 Secrets can pay their mortgage with their standard income in less than 10 years. They anticipate their children and grandchildren will need a house and set enough cash for that purpose so that they don’t take a mortgage that will take 30 years to repay. The 4% think generationally and leave a significant inheritance for at least two generations, they observe Proverbs 13:22, while the 96% focus on paying bills and leave little inheritance to their children. 4% prepare for and leave an inheritance for their generations You’ve to understand, anticipate, and prepare for each succeeding cycle of the economy.ĭuring a growing inflating economy you can borrow and invest in real estate, it is also important when there is a deflation contracting economy then sells the properties and eliminates the debts. Have some cash reserves so that in the recession when the majority are selling their properties and business at a fraction of a dollar, you can qualify to buy. 96% know only how to grow when the economy is good while the 4% know how to grow in economic expansion, depression, or even recession. The 4% knows just because it worked in the past doesn’t mean it will work in the future.
The 4% teach their children that economy is capricious, it cyclical not linear, it expands and contracts, while the 96% teach their children nothing of sought.
The 4% knows that economy flows in cycles and they prepare accordingly,
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