Why You Should Get Paid Daily
At some point in history, humans began to go to work and get paid either weekly, fortnightly, or monthly.
You get a mortgage, you go and work for somebody, they pay you periodically, you make your mortgage payments and pay your other bills.
But what happens if you decide you don’t want to go to work one day? The flow-on effect threatens your house, food, marriage and so on.
Everybody pursues money and relies on money in order to keep functioning in the system we are in.
But b Invested founder Nathan Birch hates money. He has plenty of cashflow coming in from his assets, but he generally has it going out into something else just as quickly. Why? Because if you keep money in your pocket, it’s worth less and less every day.
You spend daily…so
Why not get paid daily? Nathan has cash flowing in and out of his accounts every day of the year.
He will tell you his bank account often has a zero balance and makes him look broke, but that’s because he may have thousands of dollars coming in on any given day and then going out into bills, other assets, food and so on.
He thought a lot about this topic after a recent MAP session with a client, whose goal was to earn $4000 a week in passive income from his property portfolio.
But we spend every day on food, petrol, clothes, and other consumables, so why be stuck where we are only getting paid weekly or monthly?
Nathan says the ideal situation for anyone who wants to quit full time work and earn a passive income is that they are paid daily, whether it’s from property, other assets, side hustles and so on.
Think outside the box
One of the obvious ways to get a daily pay cheque from property investing is to adopt the right mindset.
A lot of people find out they can borrow $800,000 so right away they want to buy a million-dollar property.
That’s the trap that will keep you mortgaged up to the hilt and slaving away just to make the repayments all your working life.
Say instead, you got 4, 5, 6, or even 7 properties that are each going to bring in $200-300 a week in rent.
Once tenanted, that means you’ve got 6 or 7 people going out and working every week and paying you the rental income to service your loans. That’s a big difference from the other option, which is to be on the hook for a million bucks all by yourself.
While you’ve got those multiple income streams flowing into your accounts, you can put the money to use in your daily spending or investing needs. If each of those properties is positive cashflow, it gives you even more options for what to do with your unencumbered funds.
Worry about your dream home later
Nathan has always been open about the fact that he didn’t own an owner-occupier until he had been investing for quite some time. Eventually, he was able to use all the cashflow and capital growth he made from his portfolio of many affordable properties to build himself the house of his dreams on a huge parcel of land.
Thinking differently, building a foundation for a great property portfolio and getting himself a daily pay cheque meant he had far greater control over his destiny and was able to afford a much better home than he would have if he had tried to start out with that owner-occupier.
You too can have far greater control of your life by implementing a strategy where you can get paid daily, be less encumbered and put your cash flow to work.
If you need help building a strategy on how you can get paid daily, reach out to b Invested on 1300 367 925 or email email@example.com.