The Following Demonstrates The Only Real Way To Create Financial Freedom & Security
Reza Abbaszadeh is the founder and CEO of Abbaszadeh Enterprises and BaxBeauty, Iranian- German entrepreneur, self-made millionaire, business owner and philanthropist whose journey inspired many young ones in Europe and other places.
Here we are going to show you Reza Abbaszadeh’s Wealth Creation Formula which comprised of 9 steps that everyone must take to get wealthy.
Step 1: Create Income
DESPITE WHAT ANYONE TELLS YOU, IT IS IMPOSSIBLE TO GET RICH WITHOUT INCOME. IT CANNOT HAPPEN.
Yes, there are things that make income less attractive than other ways to create wealth. Income is basically the money you earn from a job, or the money that comes from a stock—possibly called dividend income. The reason a lot of people say income is the least desired method is because it is the most heavily taxed.
The reality is you aren’t going to get away from it. The whole game is rigged. But if you understand the entire wealth creation formula you can get the game to work in your favour. Just know the game is rigged. The entry to the game is income—there’s no way around it.
Step 2: Increase Income
ONCE YOU HAVE BEGUN TO CREATE INCOME YOUR ONLY CONCERN SHOULD BE TO INCREASE YOUR INCOME.
The only thing you should care about is, “How do I increase this income I created from this first job?” It doesn’t say to get a second job, a third job or a fourth job. It says to increase the income of the first stream you created. Get it?
Whether you are mowing lawns or selling stocks as this first stream of income, once you have fortified this income don’t go start a new business. Don’t look for a second flow elsewhere. Make your first flow bigger, make it juicier, I want you to increase the intensity of it. Don’t even worry about saving right now—all you want to do is get a job and increase that income flow.
Step 3: Save It All
THIS IS WHAT SEPARATES THE HAVES FROM THE HAVE NOTS.
Step 3 of the Wealth Creation Formula is to save it all. Okay, you went from making $45k a year to $60k or $60k to $80k or maybe you went from making $0 a week to $200 a week. Now you save it all—and understand this is how I created wealth.
Maybe you’re mowing grass for $200 a week. That’s step one, create the income. Then the second step is to increase the income. Get more lawns to mow in the same amount of time, so you learn to mow lawns faster. Compress your time.
Then you start realizing you can increase your income—it becomes real when you start making the money. You start to imagine going from $200 a week to $1400 to $6000 and now you have a little business going. So you expand to a landscaping business. Now you’re dominating the market.
You’ll never get there if you don’t save—you’ll be broke forever and working harder than when you were at zero.
Step 4: Invest
MOST PEOPLE MOVE TO THIS STEP PREMATURELY AND END UP BROKE.
You’ve been told to invest in little pieces, here and there and to diversify your porqolio—this is all wrong. This is a part of the system that holds people back from real wealth. You don’t want to start with little and end up with little. You want to make HUGE moves and for that you need to make HUGE investments. You need to know what you’re doing with what you invest in.
The only reason to save money is to invest money. Your parents didn’t tell you that part. They were taught to save money just to save so they could hope to maintain a ‘quality of living’ when they got old. How has that worked out for them? Nearly 29% aged 55 and up don’t have retirement savings or a traditional pension plan. They saved to save, they didn’t save to invest and the return got them nowhere.
You are putting money away to make surges in wealth, to multiply money. The first thing you must do is commit to money. You must say, “I want to be wealthy!”
Step 5: Create Multiple Flows
YOU AREN’T GOING TO HAVE SECURE WEALTH WITHOUT MUITIPLE FLOWS OF INCOME.
Like I said before, you can have one HUGE massive flow of income, like an NBA player or a CEO with no other sources of income. What happens when that dries up? How many flows do you need for multiple flows? Two, six, thirty four, five? Remember, no target no success. You can’t hit a goal that doesn’t exist.
It is said, and I haven’t researched this, that the average millionaire has 7 flows of income. I don’t depend on 7 flows and I wouldn’t suggest you should either, but you can’t just jump from 1 to 7 or more—I just know you can’t depend on 1 and expect to get anywhere with your wealth.
And remember, I’m not just talking about money—wealth to me is a collection of things. It could be money, friends, fans, books written, or the accumulation of information. I want a wealth of information, a wealth of mentors, a wealth of supporters—you get the idea.
Step 6: Increase Those Flows
ALMOST EVERYBODY HAS TWO OR THREE FLOWS TO START WITH. LOOK AT EVERY FLOW YOU HAVE.
Most people incorrectly think they only have one flow of income—their job. Do you have a savings account? That pays dividends, no matter how small—that’s a second flow, so make sure to consider them income flows.
You must fully understand what flows of income you have so you can increase them rather than chasing new income flows. What do you do to increase these flows? Well, with that savings account you can’t go ask the bank to pay you more in dividends, so what can you do? You could take that money and lend it out; that would be one way to do it. You have to be creative, but smart. Don’t just throw your money into anything just because it’s exciting. That’s how you go broke. You can start trading or stacking cryptocurrency! but remember! know first what you are doing.
You have to properly identify the flows you have so you can increase them properly. Money goes to the things you put attention on. Put attention on your flows of income so you can increase them.
Step 7: Save Some More
DON’T CRAP OUT. THIS IS DIFFERENT THAN SAVING IN STEP 3.
Saving here is very different than earlier in the formula. You might have gone from $0 in the bank to $60,000. I remember the first time I saved my first $60k, I was like, “Oh my gosh! I have sixty thousand dollars!” A salesperson who worked with me also saved $60k, but he went out and blew his money and had to start over again from zero. If you want to stop hitting zero and starting over you must do what I did. All I did with my money was invest in myself, only myself.
Early on there is no money to make big investments for surges. Early on your focus is to create income and increase those flows. Keep putting that money away. Sooner or later you are going to look up and that $60k is going to be $300k, $400k or even $500k if you stay disciplined and focus on CREATING money, not spending it.
Don’t make big plays yet. You aren’t ready for that yet, even if you’ve saved $500k.
Step 8: Invest in Your Big Deal
THIS IS WHERE YOU GET RICH FOLKS. THIS IS WHERE YOU MAKE THE BIG PLAY.
Like I mentioned earlier you need to expand money, not just expend it. By definition an investment is, “the action or process of investing money for profit or material result.” You need to take your money and put it into a scheme. A scheme is, “a large-scale systematic plan or arrangement for attaining some particular object or putting a particular idea into effect.” It’s actually something very, very positive—but how many of you thought it was something negative?
So here you are making the big play, you’re investing in a scheme. Will it be a business, will it be real estate, will it be the stock market? I don’t like the stock market personally but crypto market can be lucrative but be careful. There’s a lot to know about investments and this space can be confusing. If it’s something I can wrap my head around and it’s simple I’m good. If I cannot understand it I will not touch it. Keep that in mind.
Step 9: Increase Number of Flows
DON’T FORGET THE FIRST FLOWS. HERE YOU SHOULD BE INCREASING ALL YOUR FLOWS AND INCREASING THE NUMBER OF FLOWS.
THIS STEP IS FOR THOSE WHO WANT TO GET TO RIDICULOUS AMOUNTS OF WEALTH. THIS IS WHERE THE BIGGEST PLAYERS PLAY. THEY’RE NEVER SATISFIED AND THEY’RE ALWAYS TRYING TO CREATE MORE FLOWS. SOME OF YOU MIGHT THINK THEY ARE GREEDY, BUT THESE ARE THE PEOPLE GIVING OUT ALL THE MONEY. THESE ARE THE PEOPLE BUILDING HOSPITALS AND BRIDGES AND LEAVING THEIR LEGACIES FOR GENERATIONS AFTER THEY DIE.
YOU MIGHT NOT END UP PUTTING YOUR NAME ON A HOSPITAL BUT THIS KIND OF WEALTH IS AVAILABLE TO YOU IF YOU WANT IT. NOW MORE THAN ANY TIME IN HISTORY, YOU CAN GROW TO THIS PLACE OF WEALTH. YOU DON’T NEED TO BE BORN INTO MONEY OR INVENT THE NEXT BEST THING.
WEALTH CREATION FORMULA BRINGS ON THIS KIND OF WEALTH TO YOU. I DON’T WANT TO BE DESTROYED AT THE END OF MY LIFE. I WANT MY LEGACY TO LIVE ON AND YOUR LEGACY TO LIVE ON—AND THAT LEGACY NEEDS TO BE FUNDED. YOU WON’T HAVE A LEGACY FOR BEING BROKE OR MAKING $1,000,000. YOU MUST GET SUPER WEALTHY TO LEAVE A LEGACY.
YOU CAN FOLLOW HIM ON INSTAGRAM: @ABBASZADEHCO