My change to the next level

[Alexander Lesch]

Dear Fastlaners,

I hope you are doing well. Some time has already passed since I've joined this forum. I read the book last year in June. And I read it over and over again.
With this post, I'd like to show you, what was my situation then and now and what I have done to accomplish. Within one year I've managed to have 17k€ more ("better") cashflow every year (that's kind of 1500€ monthly cash flow). And I mean only automatic cash flow! So I hope there is ONE PERSON who will help this post!

The situation in few words:
I am in finance sector freelancing selling insurances and investment plans to private people. Last year I was working with one of the biggest finance services. Now I changed flags (yes, I am a traitor! 😀) working for an insurance company (same work, different effect).

What has changed	2019	2020	Comment
Monthly office using fee	250€ / mth.	0€	If you join a reputable insurance company in Germany for normal you do not need to pay office fees. The leading salesman of the company before was intelligent enough to let his fellow guy's pay his office rate - he had the best income and his name was at the door - but we payed the rate!!
Tax consultant	50€ /mth	0€	In the beginning they told me, I'll need a consultant to communicate with federal financial dept. He took 600€ a year just for booking my bank statements I gave him (he can only book what I give to him). In Germany you can book it for your own directly to financial dept. without cost. You know I am a small financial freelancer with small income - not worthy of an inspection. And if they control, then the result is that I KNOW VERY SINGLE NUMBER now. If you call me and ask "what was this for" then you get an answer within 5 minutes. So now I am in control of every single amount moving throughover my bank account
monthly passive INCOME(!)	average 350€	average 1000€	In financial companies if you are an consultant you get a service fee from the company. The customer pays his rates and the higher the rates are, the higher your service fee is. If you start with an insurance company they give let's say 300 customers to you (could you please contact them, help them and bring new contracts to the company) which results in lets say 1000€. And if you start with a big financial service - guess why it is big - YOU bring all customers to them and you start at zero! In both cases you are free to bring new customer's
Banking fees (running)	5€ + 7€ + 11 € = 23€	0€	now in the first time within 3 years I live from + and not from minus (11€ month) and I change bank accounts to online banking companies which are without cost
Alibi retirement insurances	250€	0€	I had running some retirement insurances, but they will never be enough to securing my retirement. They've been for let's say a good feeling "I am doing something for my retirement". In reality they are stealing 250€ Euro each month which I could really use to start a company! My plan is to create different companies and bying real estate. I think normal German people who do not like to make business need retirement insurances
Banking fees (not regular)	9€	0€	If you have no money on your account and need to take money at the bankomat and use the wrong card (I know it's stupid!) then you need to pay extra fees
Additional accounting fees	35€	0€	I've had to pay additional accounting fees to the tax consultant company - Now I do it for my own. Of course you can give it to them - but if you know how and it takes only 5 minutes - the price of giving it away is to high in this case. I have round about 60€ / customer - let's say 30-40€ per hour.
....	....	.....	....

These are some examples - sure something is missing - which I have in mind currently. So now the 1000€ from the insurance company cover all monthly expenses including the rate for phone and living. Another 1500€ through active work (it is a 3/7 job!) and taxes are paid, fridge is full and savings are growing.

One year earlier I needed to get 3000€ due active sales to have the same effect.

And what is the downside of all? Federal finance department will see Euros from me - I will be in need of paying taxes for the first time freelance - the bank will see "oh maybe now we can give him money for real estate"

There is an another key fact which has also changed:

Customer's are calling IN (hey could I please have this insurance further - could I pay for that insurance mor - hey I have a new car - hey could I do something for retirement.......). Friends are telling to their friends "hey you can go to Alexander, you can trust him - he is not in need of making profit now". Before I needed to beg for new contacts - now they are coming in for free because they know I do not need them specifically (to fill my fridge, it means that there are a lot of other people) and it helps them having the trust that it's truely about them and not about my bills.

Before - guess what - I was the person at the party they ran away from (in fear I could eventually sell something to them).

So for me - step one into a better life is done.

Hopefully this post is helping at least ONE PERSON to make things better in his/her life.

Have a GREAT weekend, a GREAT time and think about the one's you love and take care of them

Your Alexander from Germany

 

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