You’re almost there!
Here’s just a little extra motivation to finish the book sooner, rather than later.
Most people have never heard of Lost Opportunity Costs, just as I hadn’t prior to teaching this concept. By us not knowing, we are losing money on a daily basis while those who know are taking that money from us and putting it to work for themselves.
What is it? It is the opportunity you lost to make interest on money because you spent it on something else.
Some would say, you used that $100,000 income and bought yourself a new semi. You gave the seller your money in exchange for a semi. You no longer have that $100,000 to invest or purchase anything else with, it’s gone FOREVER. YOU LOST THE OPPORTUNITY TO MAKE MONEY.
This same concept applies when you sell grain and take that money directly to the bank. Using large sums of money to put directly towards expenses leaves you with a lost opportunity to put that money someplace that will make you money.
Stick with me here…
Let’s say you sell grain/cattle and make $100,000 more than you are obligated to pay the lender . You decide you are going to use that $100,000 as payment on land so you can get your land paid off sooner. If you do that, you lose the ability to make interest and can never use that money again!
Poof, gone, the lender has it and is putting the money to work for them.
Instead, you could have put that money in a tool that allows you to earn interest AND use it at the same time!
Yes, you could have earned a guaranteed interest rate and paid the lender off.
Two goals accomplished at the same time.
Want to see more about how it works? Click READ MORE below and scroll down to the “HOW THIS CAN WORK” section.