Which receives most of your efforts: Building your income or building your wealth?
This episode is the fourth and final episode in a mini-series from Roland for those of you who want to get the balance between building long term wealth and sustaining high income. In today’s episode, Roland focuses only on the long game and shares 5 strategies that have worked well for him, including four that are often missed.
In the last few weeks, Roland focused on ‘the short of it’; three episodes packed with strategies and steps. Make sure you go back and listen to episodes 115, 117 and 119. But today Roland hones in on how you need something that will replace the income that you’re earning.
A Good Long Term Plan Is Accomplished By:
- Passive Income (that can increase alongside inflation) or,
- Through sales of appreciated assets (after taxes) that will provide from-your-efforts income replacement.
“A good long term plan should provide enough wealth assets to replace your ‘from your efforts’ income for the rest of your life - post-earning years”. Roland Frasier.
Listen Today For Five Proven Strategies For Building Long Term Wealth
1) Real Estate is one of the best wealth building assets that you can find and there are a million ways that you can get involved. You can do it with no money down and you can play both the long term and the short term game with Real Estate.
“Real Estate has been a constant throughout my life. I’ve built, owned, flipped or held more commercial or residential real estate than I can remember”. Roland Frasier
2) Software As A Service Subscription (SASS) Companies. Recurring businesses have an advantage over other business models and are much more appealing to investors because they are always looking to mitigate risk, therefore businesses with guaranteed sales are appealing.
“You don’t have to know how to code to start or own a SASS company. A lot of people don’t realize that. You just have to know someone else who does - bring them in as a partner. Buy in or earn in.” Roland Frasier
3) Buying and Selling Businesses - Just as you can buy real estate with no money down, fix it up and sell it on, you can purchase businesses with no money down and do the same. You can frequently obtain third party financing, a version of seller financing or partner into businesses. It’s not nearly as difficult to obtain as you might imagine. This has been one of the greatest wealth-building opportunities that Roland has found.
Roland goes into this in-depth in his LEGS Intensives (Leverage, Exit, Grow & Scale).
4) Equity Investing - Taking ownership in companies in exchange for providing value. You provide services or resources in exchange for options, stock or some form of ownership in someone else business. It’s a win-win.
We have a whole episode on this here.
5) Trend-Based Investing In Insider Private Companies That Have Momentum
Listen for why Roland doesn’t care for the public stock markets for investing, nor for startups, he does love Investing in private companies that are already operating.
Roland looks to come in early as a passive investor when he believes they can quickly exit based on
• Trend favored focus
• Great team
Listen for what he conspicuously does not invest in for the long term, and why.
In Conclusion
Don’t get lost in only creating and building income, and don’t get lost in only creating and building wealth, create a strategy for building both. Know how much income you need to live the life that you want. Build your active income and use it to create passive income and wealth assets.
To dig in further with Roland, sign up on our home page for exclusive content from Roland to your inbox. We’ll be dropping another sit-down interview this Wednesday, so take a moment to subscribe on Apple Podcasts. Roland will be continuing this series next week, focusing on LONG term strategies!
References Mentioned In This Episode
Resource on Real Estate
Resource on SASS
The Richest Man In Babylon Book
Wealth Management Expert
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