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    Becoming a Millionaire Using Your Employee Salary: The Formula to Wealth.
    Becoming a Millionaire Using Your Employee Salary: The Formula to Wealth.
    Becoming a Millionaire Using Your Employee Salary: The Formula to Wealth.
    Ebook126 pages1 hour

    Becoming a Millionaire Using Your Employee Salary: The Formula to Wealth.

    By Charbel Farhat

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    About this ebook

    John Maxwell once said: “A budget is telling your money where to go, instead of wondering where it went.”
    After reading this book, take a moment; assess every financial problem you are facing, from paying the rent till paying for the groceries. I want you to understand that there is more to life than working a nine to five job and constantly hearing your boss yelling at you.
    An old man once told me, in order to become financially satisfied you need to starve yourself for a day, stay sleepless for another and become a king for the rest of your life. For I know that life is slowly closing its walls on you, but after reading this book you now have the hammer to destroy these walls and move on to your perfect paradise.
    I hope after finishing this book, for you to take a look at yourself; to find the bravery to step out of your comfort zone and say:
    “Why not?”
    Every successful business will require the three basics in order for it to work:
    •Making a plan.
    •Obtaining a capital.
    •Setting a target
    In this book we are going to learn how to make a plan, how to develop it and most importantly what is our plan for making steady income.
    Moreover, we are going to learn how to put that plan in action by using part of our plan and cumulating our recently obtained modest capital in order to develop our business.
    Finally, we are going to learn executing the plan by achieving by reaching its original target and developing it into more successful business thus obtaining more capital and a higher income
    At this point, I am guessing you started to develop an idea on the form of the plan, but what to invest in?
    There are three types of investments: Business, Stocks and Real Estates.
    But which one should you choose?
    Here is the trick; we are going to choose all three of them. You see people tend to focus on investing on just one, but why do that when the three of them are potential income. However, since our investment capital is based on our salary, investments should be made in a particular order in which one will ensure the other.
    Which raises another question, which investment should we begin with?

    LanguageEnglish
    PublisherCharbel Farhat
    Release dateMar 10, 2017
    ISBN9781370339754
    Becoming a Millionaire Using Your Employee Salary: The Formula to Wealth.
    Author

    Charbel Farhat

    Charbel Farhat, born in 1991 in Lebanon, is a double masters holder in judicial Law and Master of Law LLM business law in addition to obtaining a bachelor in political sciences. Skilled and specialized in large scale negotiations, leadership, compliance and control. Mastering legal affairs,corporate restructuring and reorganizing. Trusting hands on and accountability approaches. his recent publishing is " Becoming rich using your employee salary" and is currently working on his history book " Leaders in history: Heroes or Villains?"

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      Book preview

      Becoming a Millionaire Using Your Employee Salary - Charbel Farhat

      Becoming a Millionaire using your employee salary: The formula to wealth.

      By Charbel Farhat.

      © 2017 CHARBEL FARHAT ALL RIGHTS RESERVED

      Introduction

      If you ask any financial analyst, working a nine to five job is almost never going to get you that red Ferrari. Well reader today is your lucky day for I am here to tell you I have found the formula that is going to turn your modest end of the month salary into a steady five figures monthly income by following just couple of steps.

      Every successful business will require the three basics in order for it to work:

      Making a plan.

      Obtaining a capital.

      Setting a target

      In this book we are going to learn how to make a plan, how to develop it and most importantly what is our plan for making steady income.

      Moreover, we are going to learn how to put that plan in action by using part of our plan and cumulating our recently obtained modest capital in order to develop our business.

      Finally, we are going to learn executing the plan by achieving by reaching its original target and developing it into more successful business thus obtaining more capital and a higher income.

      Ever heard of the phrase save your white penny for your black day? Most of us have, well I am here to tell you that saving your white penny for your black day is the main reason you are stuck in this situation.

      Let us say you save a small amount of your salary in the bank , in a few years that saved money will turn into a small capital that is going to make sure you won’t starve in times of crisis, it can take you on a holiday or even help you putting your kids through college, but at the end of the day you are still that same guy that is struggling from nine to five to put food on the table and pay the bills, which is fine, but if your reading this book we both know that you are looking for more so rather than saving , invest and then use the money from your invests to invest some more .

      The thing is, you have to look at life as this big rock at the bottom of a hill, now, the point of life is to push that heavy rock to the top of the hill. Savings are basically holders you put under your rock in order to make sure it doesn’t fall back to the bottom of the hill, but holders are not going to make the rock go up the hill. Investing on the other hand, are like an extra pair of hands that will give you an extra push to make the rock go up faster.

      At this point, I am guessing you started to develop an idea on the form of the plan, but what to invest in?

      There are three types of investments: Business, Stocks and Real Estates.

      But which one should you choose?

      Here is the trick; we are going to choose all three of them. You see people tend to focus on investing on just one, but why do that when the three of them are potential income. However, since our investment capital is based on our salary, investments should be made in a particular order in which one will ensure the other.

      Which raises another question, which investment should we begin with?

      Part 1

      REAL ESTATE INVESTMENT

      Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world. -- Franklin D. Roosevelt, U.S. president

      Chapter 1

      Why choose real estate ?

      Normally people would start investing in a business or in buying stocks for the obvious reason, barely existing or small capital. Well I am here to tell you that our first investment shall be in Real Estate more specifically owning a house.

      People tend to disregard investing in real estate because of its high cost, but since Houses are a necessity to people’s survival and family growth, governments made sure that buying a real estate is accessible to everyone through different type of mortgages, you just need to know which type of mortgage to chose and how to obtain the means to be able to buy. For example, The U.S. government offers the FHA loan program to make home-buying easier. These loans are generally easier to qualify for, and can be had for down payments as low as 3.5% while it is 5% for conventional loans. Keep in mind that the loans aren’t actually made by the government; they are made by the banks, which mean that they pay the bank if you fail to make your payments. Failing to make your payments will still lead to the takeover of the house back from you by the government.

      A FHA loan program enables you to obtain the original money to the house plus money in need to repair.

      Another reason buying a property is always a good idea: Tax reductions. Taxes, the word every person hates, well investing in real estate will help to ease paying the taxes pain we all constantly suffer for Buying your first home is a huge step. When you leave the world of renting behind, you begin building equity in real estate. And Uncle Sam is standing by to help ease the pain of high mortgage payments.

      The deductions provided to homeowners will reduce your tax bill substantially. And, if you have been claiming the standard deduction up until now, the extra write-offs from owning a home almost certainly will make you an itemizer. Suddenly, the state taxes you pay and your charitable gifts will earn tax-saving deductions, too.

      Mortgage interest. For most people, the biggest tax break from owning a home comes from deducting mortgage interest. You can deduct interest on up to $1 million of debt used to acquire your home. Your lender usually sends you Form 1098 listing the mortgage interest you paid during the previous year. That is the amount you deduct on Schedule A. Be sure the 1098 includes any interest you paid from the date you closed on the home to the end of that month.. If you are in the 25% tax bracket, deducting the interest basically means that the US government is paying 25% of it for you. A $2,000 deduction will reduce your tax bill by $550.

      Points. When you buy a house, you usually have to pay points to the lender to get your mortgage. This charge is usually a percentage of the loan amount. If the loan is secured by your home and the number of points you pay is typical for your area, the points are deductible as interest if you paid enough cash at closing -- via your down payment, for example -- to cover the points. For example, if you paid two points on a $600,000 mortgage -- $12,000 -- you can deduct the points as long as you put at least $12,000 into the deal. And, believe it or not, you get to deduct the points even if you persuaded the seller to pay them for you as part of the deal. The deductible amount is shown on your 1098 form.

      Real-estate taxes. You can deduct the home property taxes you pay each year, too. The sum may be shown on a form you receive from your lender, if you pay your taxes through an escrow account. If you pay them directly to the municipality, though, check your records or your checkbook registry.

      For 2015, the standard deductions by filing status are:

      $6,300 if you are single , 9,250$ if you’re a household and 12.600$ if you are married filing jointly or a widower with a child

      If you are paying some federal income taxes, say you are in the 15% of the tax bracket, every $200 that your mortgage or property tax deduction reduces your taxable income saves you $30.

      Besides buying a house affects taxes for years to come

      As for Europe, unfortunately for Europe not all countries offers a home mortgage interest deduction . However, the ones that does offer a home mortgage interest such as Ireland, Norway, Belgium, Sweden… and since Belgium has the one of the best taxation incentives on property in Europe, let us elaborate a bit more on Belgium taxation deductions on properties. Whether you are moving to Belgium or looking for an investment Belgium is the place you need to be: not only Belgium’s standard of living is high but Belgian property prices are comparatively lower than neighboring countries and other European capital cities. However, high property transaction costs can offset any short-term benefits, so it

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