The two-hand theory to building your fortune through property

We all know that to live a healthy, fulfilled life, one has to find balance. Balance between work and play, exercise and rest, spending time with people and spending time alone. So, what if we applied this theory of balance as the key to living a wealthy life?

This is what I call the Two-Hand Approach to building wealth, and it’s been one of the most popular topics amongst audiences at our seminars. Before I became an investor, my idea of becoming financially successful was to work hard on my income with my two hands and my time. And my idea of being a millionaire was to save a million dollars. Without the benefit of experience or expertise at that time, I thought it sounded good on paper, when in reality, it was not a particularly smart or strategic plan. I soon discovered that while on the one hand, I was working harder and harder on my income- producing capabilities, it became clear that there was always going to be a limit as to how much I could earn.

On the other hand I was also spending more and more money, which meant my goal of saving one million dollars was getting further and further out of reach.

Like everything I do in my life, if something is not working, I look for another way, a better way to make things happen.

That’s when I discovered that real financial success comes from two very crucial elements: cash flow and asset building.

This is the Left Hand/Right Hand approach.

Left Hand = Cash Flow

Cash flow is your physical capability to generate an income, that is income based on your physical input and time.

Right Hand = Asset Building

Asset building is buying something that is appreciating in value and generating income for you at the same time, such as investment properties.

Without the knowledge of cash flow and asset building, and the importance both of these factors play in wealth building, most people only focus on the left hand -working hard to build their income.

3 problems with the left-hand only approach

You may be extremely good with your income earning abilities, but eventually you will reach a point where you realise there is only so much you can earn. At some point, sooner or later, your income is going to get stuck at a certain level. This happens to a lot of people, and they then stay on that income level for the rest of their careers.
Even if you’re capable of earning more and more income, you will also be paying more and more tax, and in all likelihood, spending a lot more. Think of it this way; with this approach, by the time you finish your working life, you’re essentially giving most of your income away to other people. To the taxman, to the bank for your mortgage, to the car dealership for your new cars, to the education system for your children’s schooling, and to airlines and travel agents for luxury holidays. What that leaves you with is a lot of memories but not of lot of cash for your later years. And that’s a frightening prospect to face after working hard all your life.
To maintain a high level of income, you tend to work longer and longer hours, under more and more pressure/stress which take away more and more time to spend with loved ones and on other pursuits.

The Two-Hand Approach is designed to avoid this scenario and set you up on a path to building life-changing wealth.

4 Disciplines of the Two-Hand approach

Get into the habit of putting aside at least 10% of your income (left-hand) to be used towards investing into buying an income-producing asset (right-hand). Property has the edge in this regard as you’ll be buying something that increases in value while producing an income for you at the same time. Win-win.
Maximise both areas of the Two-Hand approach. If you’re serious about becoming financially successful, not only do you need to adopt the Two-Hand approach, but you also need to learn how to maximise both. On the left-hand, work smarter and harder on yourself, so you can become more valuable to the marketplace and can constantly grow your income. This allows you to have more and more money to invest, and to have enough money to enjoy the wealth-building journey.
Create a sense of urgency. The most successful people don’t just coast along in life. They know that time is a valuable commodity, so they create a sense of urgency for themselves to propel ideas into achievement, inspire them to be more productive and make the most of every day. With a sense of urgency in your mindset, you’ll be more motivated to do everything in your power to achieve your goals.
Have clear objectives for both sides of the approach. When you’re armed with a clear objective and firm goal, the way forward becomes easier. You’ll seek out like-minded people who can help you along your path. You’ll be motivated to learn more about wealth-building, to read inspiring books or articles about how people have become successful, and to have the discipline and determination to achieve your ultimate goal of financial freedom.

10 things you must do to double your chance of success:

Dare to dream big
Set goals
Make a commitment to success
Read personal development books daily
Find a mentor
Take action
Do dream building regularly
Improve financial literacy
Think and act long term
Be results-oriented

5 Secrets to Wealth

Many people dream of being wealthy, but do you really know what it takes to make it a reality? Ironfish CEO, Author and Angel Investor, Joseph Chou has already taken this journey, and now he wants to share the secrets to his success with you.
Join us to discover:
• The four paths to wealth – How to know which one is right for you
• Maximising income – How to unlock additional streams
• Wealth mindset – How to set wealth goals and stay committed to reaching them
Turn 60 minutes of your time into a lifetime of wealth!

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