What if, instead of chasing after money, money started chasing after you?
How would that change your life?
Well, according to Dr. Robert Watkins, that dream can absolutely become a reality. In his book Never Chase A Paycheck Again, Dr. Watkins lays out clear, actionable Bible-based steps that anyone can take to break away from nine-to-five dependence and build real wealth.
By chasing your purpose instead of a paycheck.
We recently spoke with him to discover his insights on creating wealth.
LG: “Dr. Watkins, in your book you talk about the importance of finding your purpose. Can you share how you discovered your own purpose?”
RW: “I never met my birth mother and I never met my birth father. I was a ward of the state of Michigan. So you can imagine, growing up with that type of insecurity. My own mother didn’t want me, my father didn’t want me. So I struggled for most of teenage and adult years with one question. Who am I?”
It wasn’t until he became a Christian that he realized that there was a special purpose for his life. “What changed my life was when I read Jeremiah 1:5, I’ve known you from your mother’s womb. I started asking questions and started reading books and I realized that I’m here on earth for a reason.”
“The day I discovered my raison d’etre and began to focus on my God-given gifts, skills and talents was the day my life changed and I stopped chasing a paycheck.”
In the years since, Dr. Watkins has helped countless people identify their purpose. He suggests that you ask yourself a series of questions like:
- What are you most passionate about?
- If money wasn’t an issue what would you be doing with your day?
- What makes you angry in the world?
- What problems in the world would you like to see solved?
- What makes you smile?
“The moment you have clarity on your purpose,” says Dr. Watkins, “take one small step towards its fulfillment. Then take another small step every day.” For Dr. Watkins the small step was starting a small bible study in his home. “One step every day. No doubt, no fear. Once you have clarity, don’t let it go.”
Seven Or Even Eight Streams Of Income
One of the most important parts of not having to chase a paycheck, is to create multiple streams of income that consistently bring passive income cascading into your life. For many people, locating even one additional source of income is a problem, but Dr. Watkins suggests that people aim for seven or eight!
When we asked him to shed a little light on this, he laughed. “It’s based on Ecclesiastes 11:2, Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.” Talk about not putting all your eggs in one basket!
What we loved most about Never Chase A Paycheck Again, is that it’s filled with advice that you can take, no matter what their background. And that includes having multiple of streams of income to enhance that paycheck of yours. “For example, writing and selling an eBook. Everyone has a book in them,” says Dr. Watkins. Whether it’s sharing information that can help others or simply telling your life story, writing books and getting them out there for sale on the internet is a great way to make extra income.
Another stream that anyone can take advantage of, is affiliate marketing income. Anyone with even a small blog can sign up as an affiliate of products or companies and earn money every time one of their readers purchases a product or service that they recommend.
Here are seven streams that Dr. Watkins recommends:
- Purchasing small amounts of stocks
- Raising money on GoFundMe to fund projects or start a business
- Creating a product and selling it
- Affiliate marketing
- Turning a hobby that you’re good at, into extra income
- Finding an additional job
The best type of income is passive income. Going back to the example of the book, once you write it and post it for sale the money will continue to come in for years to come.
That reminds us of one of our favorite increase experts, Bob Harrison, who began speaking after getting his start as a car dealer 40 years ago. Most of his talks are based on the wisdom he gained during his dealership days and he loves to say that that old job is still paying royalties!
Growing Your Income Streams
But once the additional income starts to flow, how do you make it grow? Dr. Watkins suggests starting small, putting a dollar away every day. Thirty dollars a month invested at an annual return of 10% would give you nearly $68,000 in less than thirty years with almost no effort.
Finding a 10% return though, isn’t always easy.
“I always tell people to invest in God-made things,” says Dr. Watkins. Things like gold. Things like real estate. Things like people. Anything that you sow into, invest into that’s God-made will yield a return. Whether it’s real estate or silver, it’s not going away. It’s so valuable because God’s not making any more of it.
No matter what you invest in, Dr. Watkins suggests that you learn as much as you can about whatever you’re investing in, before making the investment.
Gathering Of The Angels
One thing we love about Dr. Watkins’ company Conquer Worldwide, is that they not only teach about having multiple streams and building wealth, they help the process along for local entrepreneurs. It’s called the “Gathering Of The Angels,” and is described as, “a Shark Tank-style competition where small business owners pitch their business idea for the opportunity to receive immediate financial investments and business advice.”
The Importance Of Leaving A Legacy
We all know that it’s important to leave a financial legacy for your children, yet many billionaires have signed pacts that they will give away most of their wealth before they die. In closing, we asked Dr. Watkins how he felt about this.
“Proverbs 3:22 says that we have a responsibility to our children and our children’s children,” said Dr. Watkins. “That’s three generations. Then when that’s taken care of, once you fulfill that, you can start going into your community and taking care of problems in the world.”
It all comes back to purpose. No matter what purpose you were sent to earth to fulfill, following the Bible-based steps so beautifully laid out by Robert Watkins, will put you on the path to lifelong prosperity, not just for you and your family but for your community, your businesses and everyone that you touch, around you.
Do yourself a favor. Get out of the 9-5 trap and grab a copy of this book today. Never Chase A Paycheck Again