Title: 70/30 Wealth Rule Definition: The 70/30 Rule. The 70/30 rule is possibly one of the fastest ways to build wealth. It's where you save 30% of your income and live off the other 70% with daily living expenses. You've possibly heard of the 90/10 rule, where you live on 90% and save/invest the other 10%. Observation: This is the wealth formula which was presented by Jim Rohn, one of the most significant life and financial coach. Here is what he suggets as follows; (1) After paying your taxes, learn to live on 70% of your income. (2) 10% should go to CHARITY, whether it be to the poor, the homeless, your Church, the Pro-life Movement, a home for unwed mothers. (3) 10% should go to ACTIVE CAPITAL like buy old cars or houses and fix them up, or invest in property and then resell it. There are hundreds of possibilities. (4) 10% should go to PASSIVE Capital may include either real estate or owning stocks. The key here is compound interest and focusing on adding assets to your balance sheet. Over time, you will see profit despite how individual investments are doing. Applications: Time Management(X), Business Development (X), Finance(X), Goal Setting(X), System Optimization(X ), Life Coaching (X), Relationship(), Emotions(), Blindspot (), Mindset () Practice: Apply the 70/30 Rule within 6 months. Start gradually to living off with 95/5, 90/10, 85/15, 80/20, 75/25 and 70/30 money allocation plan. Coaching Inquiries: [email protected] #7030rule #wealth #living #charity #activecapital #passivecapital #saving #investing #stock #realestate #compoundinterest (at Toronto, Ontario) https://www.instagram.com/p/BsUmJrIg4bg/?utm_source=ig_tumblr_share&igshid=1jjqrb8k5qiqr
