Please note: I am not financially free or "ballin'" just yet, but using this system has increased and multiplied my assets and I am well en route to getting out of the rat race. Nonetheless, this is my success story thus far.
Less than two years ago I had an idea to set aside just $1 a day, everyday, and use it for investment purposes only. A few months went by and the results were dismal so I started adding 10% of everything I made for the month and set it aside for investment purposes only.
Combining 10% of my monthly income plus $1 every day I immediately started seeing better results which = lots more cash in an envelope I labeled "DO NOT TOUCH - MULTIPLY!"
Eventually I had another idea of putting my envelope cash into an online bank, which at the time was the highest interest rate I could find anywhere with a good sense of security. The results were starting to show but they still weren't fantastic.
Nonetheless, looking at this account I started asking myself what ASSETS can I start purchasing now that I can sit on and be happy with? I've been a coin collector since a kid and silver started catching my eye at the time (still does to this day). Thanks to saving just $1 a day and 10% of my monthly income I was able to buy silver coins and bars and this really excited me seeing them in my hands (again, still does to this day).
Then I had another idea of investing in real estate and stocks and made it my goal to invest in these assets before the end of 2013 (silver doesn't offer a "dividend" and I needed some passive income, although it's a great asset to hold for now). I started looking online for people I can learn from in the city I currently live in and that's where I found the club I am in today earning about 33% interest.
I am now a club manager and I have money WORKING HARD FOR ME instead of the other way around. The club I'm connected with invests full time in rental income properties and lending notes (I did not know about lending notes before meeting the people I hang out with today).
I've since increased my "daily habit" to setting aside $2 and have a goal of setting aside $100 every day and eventually just automating it by having $700 deposited into my investment account from my bank every week. 10% monthly + $5 daily is right around the corner.
I am still learning the techniques about real estate but I've made up my mind that real estate is the investment vehicle to own and invest. The friends I've surrounded myself with are making it happen.
Again, I am not financially free or "out of the rat race" just yet but I see the ball rolling as my assets and net worth are increasing every month (I can literally SEE it growing every month). I do a self audit of my net worth and total assets and also see my passive income slowly getting higher and higher each month.
Mind you, all of this I can contribute to just reading books and taking action on the idea of simply setting aside $1 every day.
Everyone in this forum who cares about being financially free should read the book The Richest Man in Babylon by George S. Clason. This book was the inspiration for the idea of setting aside just $1 a day. I also recommend Secrets of the Millionaire Mind by T. Harv Eker.
Thank you for reading and I would love to hear your thoughts. Please share them below.