Working for money is the same thing with manual labour. You have to work real hard in order to get a paycheck. Working for money is terrible.
Let's don't sugar-coat it. Most employees and the self-employed work for money while investors make money work for them.
That's the real difference. Now, I'm not saying, being an employee or freelancer is terrible but not making your money work for you is.
As an employee, you should be able to create another income stream with your pay check that gets you a steady source of income,
that if you quit from the job today, you won't go flat broke. You can still afford to live comfortably. That is when you become financially free.
Your survival will no longer depend on your salary. You are no longer a slave of money. Just in case you missed it, here's the first part of the financial education series.
Those who work for money are always out there, struggling to make ends meet. Some might not struggle much but will still need to work before they can get a salary for their daily bread.
When you put money somewhere and it gets things done for you, it literally keeps getting you a reward, you become the boss of the money.
You don't have to work anymore. The money you used at the onset keeps making your life easier, getting you more money,
feeding you and buying you things, you become completely financially free. That is the actual definition of the financial freedom you've been hearing about.
Financial freedom is not about having too much money. It's about making money work for you. It's about making money on autopilot.
It's about having a steady source of income that gets you whatever you want. It's about having multiple income streams that even if one of them should crash,
you can still afford a comfortable lifestyle till you are out of the world. You are not financially free until you can afford to stop working today and still live comfortably the way you want and be able to afford whatever you desire.
Even if you have billions today and you still have to work to make it keep coming, you aren't financially free. You may very well still be a slave of money. You work for money, simple.
Do you want riches or wealth? It's very easy to be rich these days. I mean, you could just win a $300m lottery now and become rich overnight without doing anything
but wealth has to do with how far you can grow that riches and how much of it can you retain while living comfortably all through your life.
Riches can be temporary but once you are wealthy, your money will be working for you. A rich person is someone with a lot of cash and valuables at that time
but a wealthy person might not even have too much cash but will have multiple sources of income capable of getting him whatever he wants all through life.
Most rich persons still have to work (still slaves of money) in order to maintain their riches but the wealthy don't work for money.
Money works for them. When you are rich, it becomes a lot easier to be wealthy but most rich people aren't.
Creating true wealth. To do this, you need to focus on creating several forms of automated recurring income.
These sources of income should be completely handsfree where you won't ever have to go work again.
An example of an automated income stream is the amazon kindle. Imagine having over 10 books there fetching you at least $3 each on over 2,000 sales?
That will be over $60,000 monthly. That is how most wealthy people operate. They build their empire at the start in such a way that they may never have to work again.
Anyway, a more appropriate example of creating true wealth will be real estates. Especially developing properties for rent.
You could start with a property and expand to over 2,000 properties fetching you up to $1,600,000 a month assuming each tenant pays $800.
Now, that is true wealth. You don't have to be making billions monthly to be wealthy. You don't work,
you just employ people to manage the properties for you, you go on vacations, spend time with family, play golf and still remain the richest man in your community.
While at it, you now have multiple income streams (though in the same investment) since you can't lose all 2,000 properties at the same time.
Even if 50 burns down (you can rebuild them since the land is there), you still have 1,950 properties making you money.
And if you want more money, you simply add more properties. That is creating true wealth – an empire. Most times, you may only need a little capital or you can still use someone else's money.
Hard work doesn't always pay. For instance, those doing the difficult, dirty and risky work in most industries,
earn the least compared to the management team giving the instructions. And the CEO whose work could only be decision making?
He makes the most money but sometimes, you need to work hard to get to that position. As I said, 'sometimes'. This means it doesn't have to be.
As a matter of fact, smart work is key. You might only need to be creative and people will do the work for you while you reap the reward.
Being creative isn't always about inventing something new. Being creative could sometimes, be used interchangeably with smartness.
Here's why: Since I knew I would be showing my users how to build that type of website after making some profits from it (of course,
I knew it's very profitable because I've been running several profitable membership websites over the years), I simply recorded every step I took while setting up the site.
This way, I wouldn't be doing a separate tutorial once it's time to put the 'Membership Website Blueprint' on Ghavoch.
And since I did the video, writing the ebook became easier. I only had to take snapshots from the video, describe and give steps on what I did.
Smart work! A hard worker would probably build his site, market it and once it's time for the blueprint, he will start doing a fresh new video tutorial where he will have to build another site all over again!
then outsource the job to a talented freelancer on Fiverr for $150, keeping the $350 as a profit without doing the actual job. That is the definition of a smart work.
Not that he didn't work. He worked by getting the job and outsourcing it. What I'm saying is that you don't have to enslave yourself all the time.
You don't have to be a slave of money. There are many ways you could do the same task with lesser energy and effort but still get the same result. Just sit down, think and figure it out. To be continued.....