Going along with the sixth principle, moving your money and creating velocity, one thing you should aim for when it comes to your private wealth is making your money multiply. The basic idea of management is to have your money grow and multiply to give you financial freedom.
Changing Your Mindset on Wealth
Having your money multiply means that each dollar does more than one job. Your wealth is not focused on one particular area but rather involved in multiple assets. Whether it is through passive income or creating something that can be constant, this can be a great way for you to grow your wealth and manage your finances to multiply for you.
Ways to Multiply Your Finances
Creating Passive Income
Creating a passive income for yourself can be a great way to start your infinite banking. Passive income involves creating a service or product that requires initial work and resources and then generates income without you having to put in additional work. Examples of this include smartphone apps, online courses and books.
Your wealth professional can help you on the right track to multiply your money and create financial prosperity.