Rich, wealthy, freedom, fame, healthy, and great relationships. This is all the human's desire and wants despite all the different cultures around us.
But what is exactly rich is defined? If you earn 1-3 million dollars/ month and have a nice luxury 20,000 sq ft mansion and a few exotics cars sitting around but 60-70% of your paycheck went into the hole for maintaining it or paying it back the loan. Even that, you're broke. According to Scott Galloway, Prof at NYU and author of the four.
However, if a guy who earns 60k/ month from passive investment and his expenses all add up around is 50k/ month, then he's rich.
So what exactly is the rich defined?
According to
4-hour workweek by Tim Ferris, he said that the new rich is defined by not how much money you make, but by how much free time you have while you're making your money.
For a personal example, my previous career as an insurance salesman, I realized that the more you earn, the more you must work in order to maintain what you have built and repeat all over again.
Don't get me wrong, some people love what they do and that's ok, but that person is not me. I literally ask my manager why you work so hard even in the weekends, you still have to meet and see clients from all over the places, sometimes they need to travel across the bridge (Penang) to see some clients or do some servicing. BTW, they still need to show up at the office from Monday- Friday for training and so on. Then, he told me, how to do, work still needs to be done and complete. I see how now. If you're passionate about it then its ok, go 100%.
However, things are not working pretty well to me as a result, I'm not passionate about it and feel like going to work is like increase my anxiety and self-doubt level 10000%, I also put a lot of hours into making this to work while I'm in this career, but it just doesn't work out to me. I've cold- calls, road show, knock-on doors and scared-off my friends while doing this career. Back to the point, the most important thing you can ask those people who are doing well is:
(I believe this is also true for many sales oriented company like network marketing, MLM/ Direct- Marketing/ telemarketing/ pharmaceutical sales/ real estate and etc... )
"Can you put off everything now and travel across Europe for the next 1 or 2 years?"
if the answer is no, then you're not in the 21st Century businesses.
In the insurance business, the top 1% of the sales agents always inform their clients publicly that they are traveling for a week or two to some places and if anything happens to their clients, they will call back immediately from another country to assist them.
(I'm not sure if this a gimmick or not, even if it's not, I can't imagine you're having a 'good' romantic personal evening time with your wife and clients phone you during the time and told you that he/she just have a heart attack and not sure what to do next and your clients are in desperate pain and anger towards you because you didn't answer their call in the next 2 minutes? Try your imagination if that agent thinks about the possible thoughts to travel to Europe for 2 years)
The more clients you have, the more you had to deal with these kind of things.
In conclusion. The more clients that they make = the more they can't get out from their businesses and can't really do what they want to really do!
The point I'm making is, are you the slave or an employee full time working for your own businesses, and you just create another job for you?
The language used in the new rich is:
Leverage
in terms of your time = you outsource your work in fiverr for just $5, or you hire a freelance worker who is based on the contract so you just need to pay them for the amount they work in the contract. They don't trade time for their money.
in terms of people = you use other peoples to get what you want, for their knowledge, like mentors, coach, and gurus.
in terms of resources = Kickstarter, Patreon, and Crowdsourcing. Give investors some percentage of equity of your businesses then you don't need to worry about money when starting and running a business.
and many many more.
As what I'm doing now,
Amazon FBA, which I'm not successful at it, yet. Even if I make 100 sales or 2 sales every day.
I'm just fine and alright, writing this blog and sitting at my house drinking green tea and eating chips, later the day, might go for a long healthy 45 minutes jog or go to the gym. Then spend a couple of hours reading some fine quality business books to expand my mind. If I feel like watching a movie, I just went to the cinema and buy the next ticket showtime available immediately without reporting to anyone, boss, customers, except my parents if they ask me of where I'm going.
This is what an ideal business looks like to ME, for now. Maybe down the roads when I hit my 30's, want something more solid and stable, then I'll go build an office and hire some bunch of employees, as for now, I don't see a reason why do that.
Most people wait until their retirement age to travel when they are 65-70 years old, but biology wasn't built you to do that when you're 70 years old, you don't want to drive the Ferrari, Lamborghini or only start to travel when you're 70 years old. You want to do that while you're still young in your 20's or 30's, to drive that dream car,
travel to the place you dream of
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| Niagara Falls, 2017 |
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| Niagara Falls, Buffalo, New York. |
You want to spend time with your grandchildren and family when you're 75.
"you should work hard, struggle, hustle everything in your 20's"
"you should get a Degree or Masters in order to get a high paying job"
"you should marry to this/ that person or you should marry in __ years old"
"starting a business is risky, (let me tell you this one from myself: NOT STARTING A BUSINESS IS EVEN MORE RISKIER!!)
"you should do what all your friends do"
"don't read too many books or learn too much, just do it" (many people say that investing is risky, but not knowing how to invest is even riskier!)
"starting a business from your laptop is impossible"
"everyone should eat breakfast"
"follow what the majority people do, then you will not get wrong"
"working hard, hustling is the only way to get ahead"
"you need to have the experience to start a business"
"I'll give and donate to charity when I have money"
"saves money on rainy days"
"spend money on Yeezy or Boost/ Gucci, whatever the damn thing is, to look rich and cool to other people "
(Hell no, I don't know this thing until some friends talk about how cool is it and I check, it's just another damn white shoes!!) Their markup over 1000%, a $7 dollar shoes made in overseas retails for thousands of dollars, instead of buying those, why not learn how they do it and apply it and do it on your own businesses)
"rich and wealthy people are greedy" (I will say that they are probably more generous than all your friends and families combined, even with that you're STILL NOT enough generous than them, facts).
I can list this until 7 pages and still can go on, 2 common things all people who said this is:
They never ever really take actions on what they said & they work for someone else.
So which one are you belong to? Don't get me wrong, some people are happy and satisfied with their jobs and find fulfillment in their work should continuing on what they do.
For those who are not happy with their jobs and their situation, it's for them.
Find your way to make it in the 21st-century business, either to start a social media marketing agency on your own, do some work in Fiverr, upwork, and video editing for someone else. Look up on the internet, Google, YouTube, all you need is at there already waiting for you.
I understand everyone's got bills to pay, put food on the table and make ends meet to survive and other important priorities as well, but hey, all you need is just 1-2 hours to learn how to do this every day.
Make it a habit of self-educating oneself
If you have a little bit of cash, you can invest your knowledge into
how to do amazon FBA and other ventures as well and start your own 21st-century business.
If you want more like this, LIKE and COMMENT what you want next! I'll see you tomorrow.
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