Episode description
Episode description
Welcome to "The Level Up Podcast" with Paul Alex In Episode 115, Paul shares a personal story about how his business covers the lease payment for his Ferrari and offers insights on how starting a business can help you save money and achieve financial freedom.
Key Highlights:
- Transition from Law Enforcement to Entrepreneurship:
- Paul made a leap from a secure job to becoming a full-time entrepreneur.
- The rewards of this transition include the ability to lease a Ferrari, covered entirely by his business.
- Generating Multiple Streams of Income:
- Diversification is crucial for financial stability and flexibility.
- Revenue sources include digital marketing, consulting, and merchant services.
- Tax Benefits of Running a Business:
- Certain business expenses, like a portion of vehicle leases, can be tax-deductible.
- Reducing taxable income through legitimate deductions can lead to significant savings.
- Consult with a tax professional to understand eligible deductions and ensure compliance with tax laws.
- Financial Discipline and Strategic Planning:
- Running a business encourages wise investments, effective budgeting, and strategic opportunities.
- These skills enhance both business growth and personal financial health.
- Creating a System for Financial Success:
- Owning a business can provide the means to afford luxuries while teaching valuable money-saving skills.
- It's about creating a system where your assets work for you, covering expenses and generating wealth.
“Your Network is your NETWORTH!”
Make sure to add me on all SOCIAL MEDIA PLATFORMS:
Instagram: https://jo.my/paulalex2024
Facebook: https://jo.my/fbpaulalex2024
Youtube: https://jo.my/ytpaulalex2024
Linkedin: https://jo.my/inpaulalex2024
Looking for a secondary source of income or want to become an entrepreneur?
Check out one of my companies below to see if we can help you:
FREE Copy of my book “Blue to Digital Gold - The New American Dream”
Leave a review, like and share to help others and let’s level up together!