The Secret to Generational Wealth (That No One Talks About)

The media will tell you that to become wealthy, you need to have a high-paying job, invest your money in the stock market, and buy a home. That’s easy for some people to do, but it’s not realistic for everyone. In this post, I want to talk about a way to create generational wealth that’s much easier for the average person.

Wealth as an Income Stream

The most interesting way I’ve seen to become wealthy over the years is with an off-the-grid income stream. It all started with a motorcycle trip. I went on a motorcycle ride that took me from Los Angeles to Miami. Along the way, I lived on the road in a trailer. While riding around, I found I was making money while making money. I didn’t have a car or a place to live. I lived on the road, and this was my income. Since then, I’ve traveled around the country by motorcycle a few times, sometimes for months at a time. I’ve always had a passion for traveling and being self-reliant, and it was a fun way to make a living. The cool thing is that the whole world is your vacation spot. I learned to focus on helping people, and to move myself around when I needed to.

Owning Your Time

Money is not all you need. The problem many people have is that they never take the time to practice daily gratitude. Gratitude takes time. You need to appreciate what you have in life and be thankful for it. People who do this create a mountain of benefits. In fact, there are millions of people who live their lives a few months or years ahead of the law. For example, there are people who legally don’t have to pay sales tax. When we know the law doesn’t apply to us, we feel free to make some decisions that benefit us and the people we care about. If we start early enough in life, we can buy time that other people can’t buy. You can pay a friend’s mortgage for a year. You can earn enough money from a contract to make it impossible for a judge to disallow it.

Lifestyle

Most people in the United States already have the lifestyle of the 1% and the 99%. They just need to spend less. If you live in the Bay Area or New York City, you can easily travel back and forth between each city every weekend. In a few hours, you can go from San Francisco to New York City for a day trip. Or, you can fly from San Francisco to London for a weekend getaway. That makes a huge difference in how wealthy you become. For example, if you saved $5,000 a year on traveling, you could retire in your 40s. As I’ve written about before, high spending and being stuck in your city are actually the two biggest roadblocks to becoming wealthy. That’s why it’s best to buy a vacation home outside of your city.

Wealth as Your Own Boss

Years ago, I learned a new business from an unlikely source. I discovered this lesson at my son’s soccer game when a young entrepreneur started talking to my dad. He said he started his own landscaping business to give his parents a vacation. I’ll never forget that conversation. I was totally blown away because when I first started selling my services, my parents said it was too risky to allow me to work for myself. If you do that, your family could lose everything. I was crushed when my parents said that. I was only 14 years old and I really wanted to earn some extra money to buy something I’d always wanted. But my parents always kept the same thing in the back of my mind. They said, “Don’t let your passion be bigger than your paycheck.