21 May Why Park and Pray Doesn’t Work
Does your money generate cash for you? Is it working as hard as it can to create wealth instead of sitting there and collecting dust? I call sticking your money somewhere and hoping it will do something eventually the “park and pray” method. Little secret – it rarely works! People, these lazy assets have to GO! Today, I have a Loral’s Big Table happening at my conference center in beautiful Lake Tahoe. I call it The Big Table because of my experience as a kid. While all the other kids sat at the kids table, I just went right up and took my seat at The Big Table. You see, The Big Table was where all the big conversations were being had. This was adult stuff, the next level, and I wanted to be a part of it. So I was. Soon, the adults saved my place at The Big Table and it was my regular spot.
When you take your seat at The Big Table, you surround yourself with a different set of people – ones who know how to wake up your lazy assets or find ventures that will create consistent cash for you. I have a little bit of my money in everything. I even own a piece of Mexico, tequila distilleries, FUN things that create cash. What do you do to get into this group? You take your seat. Once you are there, you have access to talent and resources millionaires use to grow their fortunes. You know how to structure yourself like a corporation, so you pay your taxes like one. You learn how to properly run that corporation so you stay on the right side of the tax code. In other words, we teach you how to act wealthy so you will be wealthy.
I have to get back to my Table session now. But I’m going to leave you with this little bit of homework. Look at the assets you have. Are they making money for you? How can you wake them up? If you need help, apply for a free strategy session with one of my strategists.
I’ll see you at The Big Table.