The Wealth Triangle is a strategy pioneered by a gentleman born in Hong Kong, residing in Canada, millionaire mentor, 8-figure entrepreneur, called "The King of High Ticket Sales", international best-selling author and speaker, Dan Lok.
For those who never heard of him or his strategy, I`ll make sure you receive some value out of this article.
The Wealth Triangle is simple to understand, formed by 3 placements on each side of the triangle, each one representing what Dan Lok thinks it`s the way to not only build wealth but to keep it. Let`s open the book and explain the formula:
High Income Skills
Dan Lok explains that this is the building block for the triangle, he considers it to be any skill that has the potential to make you about $100 000 per year, trading time for hours, it could be copywriting, digital marketing, consulting or fitness instructor. Notice that we are not talking about high income jobs, we are mentioning skills, which is very different. A job is dictated by someone else, a skill is dictated by the marketplace and with that skill or multiple ones, the individual has the ability to earn an income at any time. This is the stability piece for the triangle.
This is another piece of the triangle, a business with scalability gives you the possibility to have a second flow of income, any business that could be grown without a lot of infrastructures attached to it. Dan refers a restaurant as a non-scalable business example because, in order to grow the business, the owner would need to open a second restaurant in another place and having to involve more staff, more infrastructures and more expenses. A good example is an e-commerce, internet-based business that can provide you with the cash-flow needed to increase your income.
High Return Investment
This is a type of investment, accordingly to Dan Lok, that will have a minimum return of 10%, year after year. He states that the best time to invest is when you have so much money you don`t know what to do with it. The types of investments vary from person to person, the best way to approach it is just to not investing in what you don`t know or looking for help from an expert. It is easier to be wealthy that it is to keep wealthy, the goal is to have the best of both worlds.
A simple and proven formula created by Dan "The Man" Lok, that could potentially help you reach the financial goals you most desire.
Thanks for reading!