Archive for the ‘Money Wealth Passive Income or Rich’ Category

Why Wealthy People Protect Themselves

Monday, August 4th, 2008

Why Wealthy People Protect Themselves-So they do not lose it all because of one mistake. Let me expound on this a little when new rich protect themselves they do it thought corporations; LLC, and other entities, so that people will not sue them, and they protect their assets. www.mondaymentor.com here is a link to an attorney’s website and he gives short tips every Monday morning about protecting your assets.  Asset protection started back in Europe it was said Columbus’s voyages were corporations, because then that investors would only lose the money from that particular voyage: because it wasn’t one Corporation.

 

It was the investor that wanted protecting so if something happened day could not be sued; and if the voyage loss money they would not have to come up with any more because it was a corporation and that protected the rest of their assets.  It is said that every black jack table can be a separate corporation or LLC in each casino in Vegas or Atlantic City.  What that really means is they could not suit the whole casino for something that happened on one blackjack table; because it was a separate entity, and a major corporation released it to the casino.   Try to sue to casino the lawyers would have to jump through many hoops to get any money. So most attorneys drop it there, but some do try anyway.

 

That is why he appeared doing an Internet business you may start out at a sole proprietor until you will make money but you really need to check into asset protection with an accounting.  I know as soon as I get better established I will probably form a corporation or via shell Corp. and build credit on that corporation.  That corporation will own the LLC is that run the Internet business and according to my attorney and might CPA is how I will structure everything so I can get the best tax benefits and the most protection for my money. On my page about passive income is a compact straw from the IRS in eight states a law about passive income.  I almost see a ready that if I a form to different corporations, or LLC,  one could beat a publishing company and one could beat the sales company and that might help qualify as passive income goes I could be employed by each company.  I have to check it out but that’s what the wealthy and the rich really do they find how they can do it legally so the IRS will not bother him and a half the money to pay the best attorneys to find their answers.

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Money Wealth Passive Income or Rich

Friday, May 23rd, 2008

What are the Differences 

  •  Take a Moment and Ask yourself the next Four Questions 
  • What comes to your mind when you think about being Rich? 
  • What cones to your mind when you think about  Wealth?
  • What comes to your mind when you think about Passive Income?
  • What comes to your mind when you think about Money? 

Now that you are thinking about  these questions let’s see how they all fit together.There is a saying  “a person convinced against his will is of the same opinion still.”Where did you learn how to deal with money, wealth, and income,  was it from school, parents, guardian,  or college? Where did you get the information that formed your opinion about being Rich?  How is your money working for you and is it coming from  passive income streams and is it building wealth for you?Passive income from real estate could be carrying a note or owning an apartment complex, it is also known as cash flow, it is the income that comes to you after all the expenses are covered that is the start of wealth. With this simple definition “having a stream of passive income greater than your monthly expenses then your on the road to wealth.” So if this was an internet business, after all your expenses were covered then the profits would be passive income.  So a simple definition is income generated by your effort and other peoples efforts that come in month after month like writing a book or writing a song or recording a song.  But one song is not going to get you rich, most songwriters keep writing and selling their songs.  Most singers keep on recording new albums and new songs. In MLM’s the more you help others reach their financial goals the more money you make, and most MLM’s have great pay plans so if everyone works together everyone makes money, and it is a great form of passive income.  I know people that have helped many others become successful and now have a great passive income because they worked hard building a down line of successful people.    Have you heard that most lottery winners end up broke again within two to five years of winning a jack pot?  The reason is they go buy that big house and fancy cars and help their friends and family in fulfilling their dreams. In two years down the road they have no money left to keep paying for their dreams. Because they did not understand about building wealth which is putting money to work for them to make more money,  Like buying an apartment building and putting a reliable property management team in place that produces a cash flow of  $5,000 a month.  That is having an asset that puts cash in your pocket each month.  Your money is working and you have passive income and you are building wealth and that money can pay for your dreams each month.   So how can you use the internet to build wealth with a passive income stream?  There are many systems out there for you to choose from and you can get frustrated going through them all. The secret is you have to find and follow the footpaths of others that have  successfully built wealth with an internet business and a proven system. The first step on your path is your belief in the system. The second step is to change your mind set, and in this system,  you will find many footpaths of successful people.  The third step is to check it out for yourself.  The fourth step is to make your choice to build wealth.  This article was written by Bill Leahy to help others understand how to build wealth.  To check out this proven system go to www.runtuprofit.com Don’t forget to get your free copy of the Science of Making Money Online. www.runtuprofit.com/123        

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