Excerpt for Investing in Yourself: Financial Riches for a Lifetime and Beyond by , available in its entirety at Smashwords

Investing in Yourself

Financial riches for a lifetime and beyond

By: Giovanni Rigters

Copyright © 2017 by Giovanni Rigters

All rights reserved.

No part of this book may be reproduced in any form or by any electronic or mechanical means including information storage and retrieval systems, without permission in writing from the author. The only exception is by a reviewer, who may quote short excerpts in a review.

Table of Contents

Important Disclaimer

Introduction: Vision for Success

Chapter One: Wealth Creation

Chapter Two: Wealth Builder #1 - Business

Chapter Three: Wealth Builder #2 – Real Estate

Chapter Four: Wealth Builder #3 – Investing

Chapter Five: Old Money vs New Money

Chapter Six: Maintaining Wealth

Chapter Seven: Wait! Don't Fall for These Traps

Chapter Eight: Conclusion

Important Disclaimer

This book is presented solely for educational and entertainment purposes. The author is not offering it as legal, accounting, financial, investment, or other professional services advice. The content of this book is the sole expression and opinion of its author. It is not a recommendation to purchase or sell equity, stocks, or securities of any of the companies or investments herein discussed. The author cannot guarantee the accuracy of the information contained herein. The author shall not be held liable for any physical, psychological, emotional, financial, or commercial damages, including, but not limited to, special, incidental, consequential or other damages. You are responsible for your own choices, actions, and results. Please consult with a competent tax and/or investment professional for investment and tax advice.

Introduction: Vision for Success

The path to riches is waiting for you with open arms. Besides an overabundance of riches, wealth has additional benefits: financial freedom, peace of mind, no more long hours at work, exuberant lifestyle, and great health.

Why work your whole life stressing out over projects and unrealistic deadlines, horrible bosses, unqualified coworkers and all the irritants that present itself in corporate life, while you can take that same energy and work on creating wealth and ownership instead?

Not many people are able to generate wealth that can last them for a lifetime and beyond. Even many of our senior citizens who have worked their whole life and retired out of the job market have financial issues and distress.

Reason for this is that people focus on making money first and wealth secondary. The typical person focuses on working at a company and climbing up the corporate ladder or switching from one company to another every so often, getting a higher salary in the process.

While in the working years, people focus on all the essentials: a comfortable home in a great neighborhood, transportation to and from work, good school for their children, and their retirement account.

Nowadays, many people think that their home and retirement accounts are their wealth generators. But this is not how wealthy people think.

The secret to creating wealth is not through working for companies your whole life, but through assets acquired from the three wealth builders.

Chapter One: Wealth Creation

Stop working for money and start working towards acquiring assets! Now, don’t get me wrong, money plays an important role in building wealth, but if you only focus on making money, you will never see the bigger picture.

An asset is something of value that you own. As a smart investor we’re only going to focus on assets that appreciate in value. A car for example is an asset that depreciates in value (unless it’s a classic and you work on the upkeep), because it is worth less the more miles you put on it by driving it around.

Not only are we going to focus on appreciating assets, we’ll also use these specific assets for their increasing income streams. However, not all assets produce an income stream.

Wealthy people continuously acquire assets. This is how they keep getting wealthier and because there is no retirement date for wealth, like there is for a career, they keep acquiring assets until they pass away. Their wealth is then strategically passed down to their family.

Warren Buffet, the third wealthiest person on this planet, and his partner Charlie Munger are over 85 years old, still working on acquiring assets.

Wealthy vs rich

Do not confuse wealthy individuals for rich ones. Wealth is always acquired through assets. An NFL player making $20 million is rich, but does not own any assets.

Also, you can be a high-income earner, but if you are drowning in debt, you are not even close to being wealthy.

For example, a Vice President of Sales who works for a Fortune 500 company makes a salary of $1.4 million a year. He or she is rich, but has a debt amount that totals $3.6 million. This person needs to seriously take a look at his or her expenses and make some major adjustments.

When I mention wealth, I’m talking about owning valuable assets beyond your debt. Wealth that produces income for you even when you do not have to put in any labor.

Working for money

When you work for money, the amount you can make is limited by your skills. The more knowledge and skills you acquire, the more you’re worth to your company and you could potentially make more money.

That’s why someone working a fast food job or as a sales associate at your local clothing store does not make a healthy income. The skills required to do such jobs are basic and you don’t even need any type of education. Most of the time you do not even get any training, you just start working on the floor your first day on the job.

You are also easily replaceable by anybody and everybody.

People with specialized skills are not as easily replaceable and can demand and negotiate a higher salary. For example, computer programmers, lawyers, and doctors.

Working for money is also limited by your physical health. Once you get terribly ill, or you cannot physically work anymore, the money you were making stops coming in, because you cannot use your labor in exchange for money anymore.

The corporate ladder

The typical middle class family focuses on climbing the corporate ladder. Spending time building up the company they work for, focusing on realizing the owners dream for the company. Instead, they should be working on their own dream of financial freedom.

While climbing the corporate ladder, you’ll be given more responsibilities, work, stress, and less free time, every time you get promoted to a higher position. This is a catch 22, in order to make more money you will have to give up something. This could be time you could spend with your family or your sanity, because stress will peak it’s ugly head.

While putting all your time and effort in the company, you’ll also setup a retirement account with the company and put substantially less thought in it compared to your daily tasks at work.

When you just start your career, retirement is the last thing on your mind. However, it needs to be the first thing on your list of things to get serious about if you are young, because you have time on your side. Time for your investments to grow.

The sooner you start the less you would have to invest in order to reach your retirement goals.

If your retirement goal is to reach $1 million. Starting at the age of 24, you would only have to invest a little over $370 a month to reach your goal at age 65 (with an average 7% growth rate).

Figure 1.1 Retirement goal – Source

However, if you started investing at the age of 40, you would need to play catch up and invest $1,300 a month to reach your $1 million goal at age 65.

With age comes an increasingly urgent feeling for security and that is when retirement is taken more seriously. Most of the time people start thinking about their retirement when it’s too late and they have to start playing catch up.

This happens in their late 40s, early 50s. They can see 60 on the horizon and know that there aren't many more working years left before retirement. It's also at this time when your health can become a serious issue and age discrimination is taking place in the job market.

Working for assets

There are only three vehicles that allow you to acquire assets to build wealth:

  • Business

  • Real Estate

  • Stock market

Interestingly enough, most of us are, to a certain extent, familiar with these three vehicles. Chances are you already have a retirement account setup at your job with investments in the stock market. You might own or rent a home, so you know the basics of real estate and you already work for a business, so you have some knowledge about business models.

In order to become wealthy off of these three wealth builders, you need to change the way in which you interact with them.

Instead of working for a company, you need to create or buy your own company. Instead of being a tenant, you need to become the landlord. Instead of giving your money to a greedy/shady investment banker and crossing your fingers for the better or only investing your money in index funds, you need educate yourself and start buying your own stocks.

You are supposed to own valuable assets that create a passive income stream. This is different from earned income. Which is money you only receive in exchange for labor.

The goal is to turn earned income into passive income from assets. How you use these wealth builders will either leave you broke, rich or wealthy.

If you jump in and try to create wealth without any knowledge, you will lose your shirt and end up broke. Many people have been scammed by investing their hard-earned money into unknown businesses or in the stock market not knowing they got bamboozled until it was too late.

If you use these wealth builders only to create earned income, you could become rich but not wealthy, like someone flipping houses for a profit, only working for companies, or someone day trading for a living.

Lastly, if you convert these wealth builders into assets, you increase your chances of becoming wealthy.

Ownership is key

When I mention assets, the focus is on ownership. When you work on collecting assets you are working on owning something of value that you can pass down to your family. Ownership of the right assets also gets you closer to financial freedom.

When you work for a company, your primary reason for being there is the money you are earning. There are additional benefits of course, like social connections, a feeling of belonging to a group and learning skills that might benefit you on your career path.

However, money is still the primary reason you work for a company, everything else is just a benefit that comes with the job.

Imagine being at a job interview and you are told that you won't get paid, but the company has really fun social activities and you will get to meet nice people. You would probably get up and leave thinking they must be crazy.

The problem with working for a company is that you cannot pass your job down to your family.

Collecting or creating assets that can sustain your lifestyle will start out as a slow learning process and there is risk involved, but if you stick with it you will have more personal abundance compared to working for someone else.

The essence of time

Money comes and goes and assets can be bought or sold, but time is finite. The amount of time you have is literally limited to your time on this earth. To make matters even more interesting, we don't have a clue how much time we have left.

Some would even say time is more valuable than what you own. You need to make time work in your favor. Ever heard of the saying time flies or where has the time gone. If you go through life one day at a time never planning for your future, time will catch up to you eventually, and you'll be talking about all the things you should've done while you were younger and still had the time.

But if you own valuable assets, time is on your side, because with time you gain more assets or the assets that you own increase in value. As time passes, your assets create you more wealth.

Chapter Two: Wealth builder #1 - Business

Many entrepreneurs have been able to build their wealth fast with their business, whether it is an online or a brick and mortar business.

Just look at some of the wealthiest people on the planet, like Elon Musk, Jeff Bezos and Larry Ellison.

Elon Musk has created and sold many successful businesses. A large portion of his wealth comes from his current company Tesla, which creates electric vehicles and solar energy systems.

His company is worth over $50 billion.

Jeff Bezos, creator of, had an idea back in the early nineties. His idea was to set up an ecommerce store where you could buy books online after he noticed that physical stores where limited by the physical space of the store. His online store would not have this limitation.

However, he quickly learned that he was limiting his store by only selling books, so he opened up his online store to sell just about everything else. Right now, his company is worth over $500 billion.

Larry Ellison created Oracle, a software business that created the relational databases we use every day and most of us don't even know it, because it is the underlying technological infrastructure that powers most of our daily activities, from the cell phones that we use to swiping your credit card and more.

The Oracle corporation is worth over $200 billion.

As you can see, the sky is the limit when it comes to how creative you can be with starting your own business and the amount of money you can generate.

You can start small as a one man team, by offering lawn mowing services or snow shoveling.

You can go the online route and start selling products online through Shopify, information products or services through lead generation.

If you have more capital to work with you could start a franchise fast food chain, healthy food or even fitness centers.

There are many options available when you start your own business. There are also many tax benefits with setting up a business.

Many small entrepreneurs start their business as a sole proprietary and once they start to get the ball rolling they incorporate it into the flexible Limited Liability Corporation (LLC).

The steps to making your business work is to only focus on what you are good at and outsource or automate everything else. The last thing you want to do is work on your business 24/7 not allowing you to enjoy the fruit of your labor.

For example, you start your own online e-commerce drop shipping website. You’ve done the research on which platform to use, the products you are going to sell and how to advertise it.

You are excellent at coming up with unique products to sell and love analyzing your revenue and expense reports.

You are severely lacking in creativity and coding skills. You are good with data analysis, but bad at coding ecommerce website, graphic design and online marketing.

You could outsource your web development; hire both a great graphic designer and a digital media buyer, which will allow you to focus on analyzing your website's performance.

It is extremely important that your business involves something you are interested and believe in. If you don’t believe in your own business, no one else will.

Purchase this book or download sample versions for your ebook reader.
(Pages 1-8 show above.)