Part 5/7:
To generate wealth, individuals need a steady cash flow. A side hustle, even a modest one, can serve as a catalyst for income generation. Building connections with like-minded individuals can open doors to new opportunities and provide motivation. Finally, building confidence enables individuals to take necessary risks that can pave the path to further success.
The Expansion Phase
As one ventures into the Expansion stage, the focus pivots toward investing. Success in previous stages empowers individuals to acquire assets that generate income and appreciate over time. Importantly, distinguishing between assets and liabilities is essential—the former contributes to financial growth, while the latter drains resources.