I believe leverage is one of the most important skills to master for anyone serious about building wealth.  The most significant thing I’ve noticed about the wealthy people I know is that they are all masters at using leverage.  So, what is leverage anyway?  Let’s start out by looking at what Wikipedia has to say about a lever.  Wikipedia defines a lever as “a rigid object that is used with an appropriate fulcrum or pivot point to multiply the mechanical force that can be applied to another object.”

What I love about that definition is the part on the multiplication of force.  What a lever allows someone to do is to multiply their power beyond what they could normally produce solely by themselves.  Above all else that multi-millionaires good at, they excel at knowing how to multiply their power.  When it comes to creating wealth, power multiplication (i.e., leverage) comes in three basic flavors: continue

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In the previous post, I talked about why creating passive income streams are so important. Now that we’ve covered the benefits of this form of income, let’s start the conversation on ways it can be created.

What’s below is a list of different kinds of passive income streams. This list is by no means exhaustive, but it will work for starters. As you read the list, make a note of which ones catch your interest. Here they are in no particular order: continue

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It wasn’t so long ago that managing my personal finances was just another boring fact-of-life that had to be done. Once I discovered the benefits of passive income though, finding and creating passive income streams became one of my primary passions in life.

The more I acquire and build passive income money machines, the more convinced I become that creating them is something that everyone needs to be doing. I believe that passive income can truly transform people’s lives. In this post, I hope to share why I feel so strongly about that and return the favor for what my mentors have taught me.

What’s below are my top 5 reasons why I believe it is critical to develop multiple sources of passive income for yourself:

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