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8
WAPP
It’s All about Me

There’s no getting around the fact that most of us grew up thinking that we should operate as follows: make money,
spend money. That is not the way to do it. You should not buy a lifestyle. You buy cash flow–producing assets and
then you get a lifestyle. That’s the proper sequencing.

Big Leased Lifestyle
John and Jean Jones, both in their late fifties, from Cincinnati, Ohio, had the “make money, spend money” equation
down pat. Not to mention that they were psychologically invested in looking pretty and staying poor. We’d break
them of this psychology.

Question 1: What Is Your Monthly Income?

“We each make $100,000 a year, so together, it’s over $16,000 a month,” John said.

Question 2: What Are Your Monthly Expenditures?

Jean looked at John embarrassed, but gave him a little nudge with her elbow to answer. “A lot,” John said. “We have
three nice cars we lease, and we pay a monthly financing fee on our motorboat at our lake house.”
“We also have season tickets to the Reds baseball team that we don’t ever use,” Jean said.
John said, “We could go on fewer vacations.”
“No, we can’t,” she said. “But we certainly don’t need to own the entire Sharper Image catalogue.” She turned to
me. “We have every new gadget ever invented.”
Thinking she might let some of those gadgets fly at John, I waved my hands. “What are your monthly
expenditures?”
“All that we make after taxes, for sure, plus we charge a lot, it’s $10,000 a month, easily,” Jean said.