If you want to become financially independent, you need to understand how to build wealth. Your “job” as a nurse practitioner will help you start building wealth, but it won’t make you wealthy unless you get insanely lucky. When I say lucky, I mean your bitcoin or penny stock investment blows up. Essentially, things that are highly unlikely. Instead, you need to focus on strategies that will likely build wealth.

I want to make something clear, your investments won’t make you rich. Very few people become rich off their 401k, IRA, rental properties or off some whacky investment. The point of investments are to safeguard your money and help it grow slowly so it can keep up with inflation, nothing more.

If you want some crazy 70% return on your money, that won’t happen through an investment, that is called speculating. You are gambling essentially. Bitcoin is a speculation. Most penny stocks are a speculation. Uncle Joeys gold prospecting operation in Alaska is a speculation. These things are not investments.

Real wealth generation occurs through your day to day work. Will your W2 job at an urgent care or primary care office make you wealthy? It can if you live like a miser, save every dollar and invest it in real estate. But this will take A LONG TIME. Do you want to continue this rat race until your 65? I don’t. Healthcare is becoming a conveyor belt and I am getting burnt out.

Investing in rental properties, gold, and the stock market will generate wealth over the long term. These investment classes are meant to protect your money while slowly growing it. You must investment your money. Having a large supply of cash that is not working for you is not smart.

Therefore, the first step in building long term wealth is understanding how to invest your money. I personally believe rental real estate is one of the best ways to do so.

Rental real estate diversifies your income streams, protects you against recessions, and is an amazing way to lower your taxes. The stock market does little of this.

Unless you have a million dollars sitting around to invest in dozens of rental properties, you need to make the money first!

If you want fast and significant wealth generation, you need to start a business and scale it.

The vast majority of self-made millionaires generated their wealth through their own business. This is a hard concept for people to understand, but I will tell you from my personal experience, that once you start making tens of thousands of dollars a month through your business, you will see just how its possible for people to make a million dollars a year. You do this through expanding your business.

Scaling a proven business model will make you rich. Scaling a business does not require a significant amount of capital like rental property does. It can be done cheaply, effectively, and fast once you have worked out all the nuts and bolts within it.

I have almost perfected the systems within my men’s health clinic. This is the year I begin to scale it. I want to open 2 more locations this year. This will cost me anywhere between $20,000-$30,000 to do so. That would be ONE rental property if I invested it instead. Which avenue do you think will generate more money? The men’s health clinic.

I can scale this business by opening location after location at an accelerated rate. Once you begin generating income through each location, it becomes easier and easier to open other locations because you have an enormous amount of working capital (this assumes you are living below your means). Before you know it, you could have 10-15 locations that are generating $10,000-$20,000 a month each. That is over $2,000,000 a year in revenue. I would estimate that approximately 40% of that revenue would be profit in my pocket. That is almost $1,000,000 a year. How many nurse practitioners make that? Only an elite few.

Do you see how this works? Do you think rental properties or your 401k will generate that kind of money? Absolutely not.

The best part? They are cash practices that operate under The Elite NP Model. I won’t be dealing with the headache of insurance or massive expenses. These are all cheaply ran businesses.

Each cash transaction generates cash flow that goes into my pocket. Not only that, but that revenue goes towards building the businesses net worth.

Your business has its own net worth, just like people have. Can you sell your W2 job at the urgent care? No, that is ridiculous. They pay you $120,000 a year to work there, once you leave, you must sell yourself again for a fixed rate to another practice. Your nurse practitioner net worth to other companies is your salary!

Can you sell your income generating business to someone else? Absolutely. Your business will be valued on the revenue it generates. If I had 15 men’s health clinics, I could probably sell it for a lump some of $2,000,000.

If you bust your ass and scale a proven business model, you could turn around and sell it within 5 years and make a very healthy sum of money. More than you ever could just working for someone.

Start a small side practice as soon as you possibly can. Deliver a niche service that people value. This is the key to creating a successful business. DELIVER VALUE!

Am I delivering value to you right now? I certainly hope I am.

Do I deliver value to my men’s health patients? Your damn right, they now have awesome erections (joke).

Do I deliver value to my medical cannabis patients? Absolutely, I am the cheapest place in town.

Start a few small side businesses that generate multiple income streams. This will build your cash reserve. Listen to the world and scale the business that is doing the best. This will increase its revenue exponentially. Then use that money and invest it in real estate, the stock market, and gold. This will protect it and allow it to grow slowly. You can be a millionaire in 10 years doing this. That’s my plan and could be yours too.