How to Make $250,000
$250,000 is what I believe it takes to be “well off” in today’s economy. We used to preach that “six-figures” was the lifestyle, but that was decades ago. If you’re not keeping up with inflation, that $100,000 income doesn’t go very far. That is why $250,000 is the new target. The problem is, the statistics show that most of us don’t know how to get there. The average American makes about 1/5 of that number. I’ve achieved that target many times over and have helped numerous clients do the same. I’m going to explain to you the steps I took to get there and how you can do it too.
1. Find the right vehicle. A vehicle is basically a medium. It’s a carrier or mechanism that will be used to accomplish something. In this case, the thing is $250,000. The vehicle needs to have margin, volume, be ethical, and have a leader that is willing to take risks to expand. Look at what you currently do to earn income. Does it have margin? This would mean you get paid a pretty good chunk for doing the activities that contribute to that job. Does it have volume? Is it repeatable at a high level? It is ethical? Does it do a great amount of good for people? Does it have the right leader? Is the leader willing to push, are they there early, staying late, and driving towards target attainment. If not, you will need to choose 1 of 2 options. You can either add a side hustle and then transition the side hustle into a full time deal, or you need to quit that job immediately and go somewhere you can win at.
2. Focus on one thing. Once you’re in the right vehicle, only do that thing. The myth out there is to diversify your income streams right away. That is false. You need to maximize your current income at this opportunity and say “no” to everything else. No MLM’s, no business opportunities, and no 2nd jobs. Most people will add a bunch of different income streams and then make little to no money at all of them. Push the ONE income stream until you’ve achieved success.
3. Work over-time. This doesn’t literally mean to try and get overtime hours. This means, whether you’re paid to or not, come in early and stay late. If you can’t physically go to the job-site and work then do it at home or at a coffee shop. You will get rich from the work that you put in after 6:00 pm and on weekends. This work will make you a pro at your skillset so that when you’re working your normal business hours, you aren’t practicing, you’re actually playing to win.
4. Save everything. When you make money, save it all. And put it in an account that is hard access and out of site so that you feel broke. Feeling broke will cause you to stay hungry and keep making money. My worst performances have always been when I had access to too much money. Why? Because it made me feel comfortable like I didn’t need to push as hard because I had some cushion. Get rid of the cushion and create an artificial necessity to generate more income.
5. Invest only in your personal development. The only money you spend outside of regular living costs is on your own personal development. Buy books, attend courses, and take training on sales. Do not do real estate, flips, crypto-currency, stocks, mutual funds, retirement accounts, or anything else that everyone tells you is a good idea. And for god’s sake, don’t buy a house. You will fall back so far that it won’t be funny. Every cent is either saved or invested in you. You are your brand and you must improve your brand.
6. Push sales up. Find more products at your current company to master and sell. You now have a database of buyer’s who will buy again if you can solve their problems. Get access to more products and go back to your list of buyer’s. Offer the opportunity to do business again and ask for referrals. At this point, if you do it right, 60–70% of your sales can come from repeat business.
This is THE way to earn $250,000 per year income. It isn’t easy, but it is as simple as these 6 steps. The problem you will face is having someone who is as sold on your goal as you are that will keep you focused and not attempt to distract you. That is the role my company plays for our clients. We provide goal setting, coaching, education, community, and resources to help you increase your income, save more money, and multiply your money with passive income producing assets. Our average client sees a 30% increase in income, increases their savings rate guaranteed, and earns 8–12% fixed annual returns on their assets in the 1st 90 days of working with Wealth DynamX. I want to offer you a free personal finance course to find out for yourself if we can do this for you.
Click here for access.
Own Your Potential,
Grant Cardone Certified Coach
Jerry Fetta helps his clients make money, keep it, and multiply it.
He believes everyone should own their potential. He believes you were not created to spend 40+ hours per week serving the 40-year-to-life sentence trading your precious time for money just to live in mediocrity.
However, the truth is that time and money must be exchanged. It just doesn’t need to be you making the exchange.
Jerry helps his clients create wealth that exchanges time and money on their behalf.
His clients see a 30% increase in income, a guaranteed increase in savings rate, and 8–12% fixed annual returns on their assets in the 1st 90 days of working with him.
To get started, go to www.WealthDynamX.com/potential