So, there was a bunch of lawyers in a court case recently because they left one law firm to join another.
And, their ‘non-compete’ contract states, they can’t work for another firm for 6 months.
This means, they can’t earn the sort of income they are used to for that time (they earn up to $1 million per year)
However, they are saying to the Judge that it’s a challenge for them to go without income for this time, because their expenses are high.
For example, the AFR Reported one of them for example, had monthly expenses of up to $45,000.
• Mortgage repayments – $15,000
• School fees $9,000 (Bankstown tech?)
• 2 Family cars – $6,500 (Hint, not Dae Woo’s)
• Living expenses of up to $15,000.
“It wasn’t so much the figures that were remarkable, but the claim that the partners could not afford their lifestyle for six months while they waited to start at their new firm.” notes Sally Patten.
And, this is one of the challenges, with raising your income…often your expenses and lifestyle rises too.
After all, you work hard so you deserve a little luxury, right?
So, you become lifestyle rich, but not necessarily asset rich.
All hat, no cattle, as the Texans say.
Think what an advantage these super income earners would have if they spent, say, half their income on living – and used the rest to invest in real estate each year.
They would be in an incredible position!
Because, the real secret to wealth is simple:
Step #1 – Raise your investible income (the amount you’ve got left to invest after taxes and fixed expenses
This is critical because the more investable income you’ve got the more you can use step #2.
Step #2 – Buy income and equity generating assets.
The compounding growth of these assets can help ensure you don’t need to worry if you’re not working for 6 months, 12 months, or even forever!
But, how do you boost your income?
Well one way to potentially boost your income – without getting a raise or a second job is through starting a ‘spare-time’ Airbnb cashflow business.
What if you could make a consistent monthly income from real estate… without getting a bank loan and without a 10% deposit?
That’s what you’re going to discover how to do at this fast-paced Masterclass about how to make 2 x more cashflow from Airbnb.
Queensland mum Nicole went from $0 to around $9,040 per month largely passive income from Airbnb in just 90 days using this system…