Thursday, May 6, 2010

The Internet CEO - The Virtual Millionaire

A virtual millionaire is a person who does not have a million dollars accumulated but has a million dollar lifestyle and mindset. A virtual millionaire is one of the best kinds of millionaires and easiest ways of becoming a millionaire. You can become a virtual millionaire in less than twelve months. Since cash flow is king, you want your money coming in a lot faster than it is going out. The idea is to have your money coming in two times, three times, four times, even ten times as fast than it is going out......

Becoming a Virtual Millionaire:

If you had a million dollars invested at 6% percent, the million dollars would give you $60,000 a year in cash flow, without ever touching the million dollars (6 percent of a million dollars is $60,000). If you divide that $60,000 into twelve months, that would give you $5,000 a month. So if you had a million dollars invested at 6% percent you could definitely live off of that interest. It would pay you $60,000 a year. Even though you would be a millionaire, your millionaire lifestyle would mean you wouldn't have to work! You'd net about $60,000 a year. Thats a million dollar a year lifestyle.

What I call a virtual millionaire is someone who builds a business that produces at least $5,000 a month for them that they don't work for. When you have a business that generates $5,000 a month in passive income, that's when you are a virtual millionaire! You see, its all about "building businesses". Its all about building "asset based businesses". Business where they are ran off a system.

I want you to have a goal to figure out how to build asset based businesses. Having an internet company is one of the best businesses (if not the best) you can have to produce a consistent cash flow. Any business that does not require your presence while producing income is passive income.

The Internet CEO


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