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I love it when others say we are just like HB and what he is doing. It means they are watching. So I choose to give them a movie. September in Vegas at our 1st event of 7000 sold out seats we will hand out the Oscars! Welcome to #ABuggsLife #Freedom #GiveEmSomethingToTalkAbout #Ibuumerang #HoltonBuggs #EarleneBuggs
1. Don’t Blame me, Blame my Parents: Many have a low Financial IQ and weren’t equipped with the tools to increase it. The talent to produce results that attract money is very different from the talent required to keep money. This is an issue in sports and entertainment as well. On the show Undercover Boss, many CEO’s know nothing about the detailed execution of the business. They are only great at managing the company. In MLM, you are actually the CEO of a nice sized company. But most only see themselves as the producer of revenue and not the grower of its resources. This one dimensional skill set leaves many with BiG TOYS and small bank accounts!
2. I Can’t Wait to go Broke: Most have pre-planned their expenditures for years prior to the big money! We speak more on using money as a consumption tool rather than a wealth building tool. Our dream boards very seldom include an investment portfolio plan. In most social circles it is boring to talk about investing, insurance, and estate planning but exciting to talk about a Mansion, Bugatti, and Rolex.
3. The Copy Cat syndrome. Many leaders copy their upline’s lifestyle way too early! Just because you qualify to buy it or can finance it, doesn’t mean you can afford it!
4. It’s Showtime: Many leaders believe that the more flashy items they buy, the more people they can recruit. This is a result of Unconscious Competence, when one is successful but doesn’t really understand how or why. It often results in a “One-Hit Wonder.” People may join because of what you have, but they will only stay because of who you are.
5. Betting on the come: They use “IF-come” versus “Income” to purchase. Their spending habits are based on projected income, not actual income. They go full time and buy “things” way too early. A $5000 per wk ck can quickly turn into a $500 per wk ck. For Ex: 90% of people who earn a car bonus never re-qualify for the bonus 90 days later. Their income goes down, expenses go up, leaving them with financial stress. If you don’t believe me, check your group!!! Welcome to #ABuggsLife #Freedom #HoltonBuggs #WhatToDoWithADollar
My son graduated from Music School last week. We could have given him anything we wanted. But we wanted to give him the opportunity to develop his own wealth.
I recently purchased another neighborhood block with multiple homes on it. I had him to choose one house as his gift. He will work everyday with contractors learning the business every step of the way.
My Grandmother Loaned me $10k in 1991 to start a furniture business. My Dad taught me the examples of work ethic and entrepreneurship. I believe they are happy with how it’s multiplied.
Your kids should not start where you started, they should start with the blueprint you finished. This is called progress.
Cost Basis: $25,000
Repairs: $85,000
Total: $110,000
Sales Price $229,000
Projected Gross Profit: $119,000
Welcome to #ABuggsLife #Freedom #GenerationalWealth #HoltonBuggs
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