Yesterday, I wrote about the famous bank robber Willie Sutton and suggested that we consider his strategy:
Go Where The Money IS
Sutton robbed banks because they had the most money. At its foundation, this is very valuable advice that we might consider. We can create more cashflow in our businesses and in our investments by going where the money is.
The money is found in businesses and investments which provide automatic recurring monthly income: membership businesses (toll position businesses), real estate, mobile homes, short-term rentals, etc.
There’s also another important lesson from Mr. Sutton that we might also consider, which can be found in the book “Where The Money Was: The Memoirs Of A Bank Robber.”
“What am I doing, I ask myself, standing on a corner at six o’clock in the morning freezing my ass off? Hell, I am almost forty-nine years old. I have been a fugitive for three full years now. I am number one on the FBI Wanted List. If I am caught I will go back to prison for life. They don’t even have to catch me for another bank robbery, all they have to do is get their hands on me.
Even to me it makes no sense. I have a safe harbor in Staten Island. I have fifty thousand dollars or so stashed around that I could get my hands on with a couple of phone calls. And still, I am out here on a cold winter morning putting it all on the line in order to rob a bank for money that I neither want nor need. The most brilliant student of the criminal mind that I have ever known once told me that banks would always present an irresistible challenge to me, and any doubts I may have had about that are now gone. I am not only determined to get this bank, I am determined to get it my way, even though my modus operandi is so distinctive that I must just as well be leaving my calling card behind.”
Mr. Sutton was in the glorious Position of F You, but didn’t have the ability to walk away. He had is freedom (temporarily), he had money, he wasn’t accountable to anyone for anything. He could have said, “That’s it – I’m done!” He could have kicked back and enjoyed life.
BUT (Yes, that’s a big butt)
…he couldn’t resist the urge and continued robbing banks for no other reason than the thrill of it. For such a smart person, this seems to be such a colossal mistake.
The crazy part is we all tend to do the same thing with the same risk. We keep working at jobs we hate for money. We keep trading our freedom away for more paychecks. We haven’t acquired the ability to walk away. To conquer our greed for MORE.
Willie Sutton couldn’t walk away and ended up suffering the consequences.
What will happen to you?
Part of being a Cashflownaire is knowing when to walk away… when to say, “I’m done.” Conquering our greed so we can focus on creating our ideal lifestyle.
We’ll work on this in the August Cashflownaire Newsletter that will be released in just a few days. You can become a Cashflownaire here:
Plus, we’ll also dig into where the money is with short-term rental properties by applying Willie Sutton’s advice to go where the money is. In a special member’s only bonus report, I’ll show you three ways you can profit from short-term rentals. This bonus report includes a simple multi-home “retirement plan” that will allow you to have two homes paid for by others.