Nathan is broke – in cash, that is.
When it comes to his assets, he is at the helm of a $100 million investment portfolio.
So, he isn’t really that broke. The thing is, he often finds himself without cash because he is always trying to funnel every cent into buying income producing assets.
By doing this, he uses inflation to his advantage, rather than letting it erode his livelihood over the long term.
Nathan hopes we go broke too
In 2019 Nathan hopes we all go broke for the right reasons. What does this mean? Well, in our consumeristic society, being broke is often a choice.
We find ourselves spending all our hard-earned cash on things that make us look rich.
We spend without budget or financial plan – and we find ourselves in debt, enslaved to a lifetime of work because of our bad decisions.
This is being broke for the wrong reasons.
Being broke for the right reasons means that we are buying everything we can in order to improve our financial position.
It means we are building a strong asset base that will generate capital wealth and a passive income.
Doing it the right way
But, that doesn’t mean buying any type of property in the hope we will become rich. It means executing well thought out plans that will enable us to achieve our goals.
It also means buying in a way that will minimise risk.
Diversification, capital appreciation, preservation of wealth and passive income streams. These are the sorts of things we need in our lives – not BMW, Jimmy Choo, Lacoste and Tag Heuer.
Because, what is the point in buying sports cars and other luxury items if it means you are overworked and can’t do what you truly want in life?
2019 is an excellent year to buy
After having bought a couple of properties before Christmas, Nathan aims to purchase another 25 to 30 throughout 2019. He says it is a great time to pick up properties for cheap.
So, instead of spending all your hard earned cash on designer clothes and luxury goods, why not think about building an asset base instead?
After all, real wealth does not exist in the brand names you wear – it exists in the income producing assets that help you to build your net worth position.
Do you feel cash-strapped but asset rich? Please share your experiences in the comments section below.