“If you can’t make money in your sleep, you will work until you die.” – Warren Buffett
You make money by giving other people value. The amount of money you have right now is a direct reflection of what society owes you. The more money you have coming in constantly, the easier it will be for you to make more money in the future.
Money is best invested to make more money. This is the way generational wealth is made.
Abundance is the capacity to generate wealth.
A poor person with a large sum of money is just a poor person with extra money.
A rich person who runs out of money is still rich because he has more money coming in from business.
Measure your true wealth by cash-flow from all your streams of income.
Wealth is NOT net-worth.
Cash-flow is constantly in flux and “net-worth millionaires” have less than people with 6 figure cash-flows. Cash-flow is far more significant than net-worth. Net-worth does not add money to your pocket, its just a number.
The rich understand cash-flow and how it trumps net-worth.
If you lost your job tomorrow, would you still have money coming in?
If not, the best thing to do is make an asset. Start using 10% of your income for slow-lane investment. Add 10% on top of that to build a business. Online business can be started for next to nothing, and the sky is the limit for how much you can make.
Business creates wealth while investment secures wealth.
Investors provide resources to make a business possible. Businesses do the actual value creating. It’s impossible to add maximum value to society through investment alone. This is why an employee who creates a retirement strategy on investment alone will not be able to increase their standard of living as time goes on.
A portfolio that generates a 6% return every year requires over a million dollars invested to live on the interest alone.
All massive value is created through business and not investment.
Employees who use slow-lane strategies for retirement planning can become net-worth millionaires by 60. If they lost all their nest egg, it would be devastating. Investment is a means of financial defense; business is where financial offense is made.
Savers are losers due to inflation. Cash decreases in value by a whopping 50% every 30 years.
Knowledge is the second-best asset behind time because knowledge is power. Your knowledge can be used to generate money out of thin air.
Everyone is an expert at something.
Make use of what you know and sell your strengths. Hire people for work in areas where you are weaker.
Having knowledge to teach can be used to build a blog, start a speaking career and coach other people. I have already made more than $100/h to coach. This wage can allow the coach to work just 20 hours a month and have freedom of time. Work more or increase price to add more money.
I want wealth of time more than anything as you never get time back. Once time is gone its gone.
Wisdom is worth more than gold. Take free wisdom but be willing to pay when it costs you.
Until Next Time,
Angus Baynham-McColl