- Personal Finance
Secrets the Wealthy Use to Make Money
Invest Your Time and Money
Most people are confident stating that human beings are invaluable - you cannot place a value on our lives or our time. People everywhere have become furious when a company is discovered that places a dollar sign on an individual. We become outraged when we learn of injustices going on around the world.
Too many of these same people work 40 hours a week, doing a job they hate, for $10 and hour. This creates a terrible contradiction because, when someone hates is job, he is only working for the paycheck. When he is working solely for his paycheck, he is suggesting that his time is only worth $10 an hour.
Everyone is worth more than that!
The Secrets to Acquiring Wealth
The goal of acquiring wealth is not to become lazy. It is to give you the opportunity to make the biggest difference possible in the world. Rather than focusing on paying the bills, you can spend your time doing what you truly desire to do,activities that will make the world a better place. Remember, there is a difference between being rich and being wealthy - this article discusses how to become wealthy.
The primary key to wealth is to focus on investing your time and money rather than selling and spending it. In other words, if I work for one hour to make $10, I have made $10 during that hour. However, if I invest that one hour into starting a business, writing an online article, or creating a video that has the potential of making me more money in the future, then I have invested my time. What will I have to show for that one hour of work immediately? Nothing. How much could it earn me in the future? The potential is limitless.
Here are some suggestions to help you start gaining a passive income - allowing yourself to make money WITHOUT working (eventually).
How will you acquire your wealth?
How the Wealthy Make Money
As you read these tips on how to make more money in your lifetime, take into consideration that the wealthy realize that time is more valuable than the amount of money you make. Therefore, although the wealthy maximize the cash they make, they also strive to maximize the positive impact they make in the world. What is the benefit of gaining much if you are not willing to share much?
Tips the Wealthy Use to Make Money:
- Buy Rental Property on Sale: Many people believe that their home should be their greatest asset. But how much money do you make from your home every month? Nothing. In fact, it costs you money. Because of the recession we have been experiencing, many people now realize that a house will sometimes sell for less than it was purchased for. The key is to make money when you buy and while you own a piece of property, NOT when you sell it. The wealthy look for rentals that are on sale, buy them, and rent them out to make great profits.
- Purchase Stock Before it Goes Public: Many people currently own stock, but few make a fortune from doing it. How do the wealthy? They purchase it BEFORE everyone else does, then sell it for a great deal. This is more risky and has previously been hard for "regular" people to do. However, thanks to some new laws passed, it is now possible and easy for individuals to purchase shares in startups! This is how you can make a fortune from buying stock. But be careful, the risk is high as well.
- Lend Money to Others Without a Bank: When you use your money to help other people, you can make a lot more of it. The wealthy do this often. Venture capitalists, banks, and private lenders all make a fortune from letting us use their money. Now, thanks to websites like Prosper.com and other peer-to-peer lending sites, you can make much more from your money than the measly bank interest rate, while helping out others!
- Make Money When Other People Work: Start a company, making $20 every day that someone else is working, and you can start bringing in a significant amount of money with minimal work. When you go to work for whatever business employees you, you are making money, but the business is also making money from YOUR work. How would you like to be the one doing that? The internet makes it even easier. Look at websites like Facebook or Hubpages - every time you share data on their website, you are helping them to make money.
- Discover Other Forms of Passive Income: The key to creating wealth is to develop ways of making money without working. Owning stock and lending money are ways of doing this. Other options include publishing content on the web or in print. If you write enough articles, produce enough YouTube videos, that are popular, you will make a significant amount of money without having to work!
Reaching a point of complete financial independence is not easy. It takes dedication and hard work. However, if you are willing to live simply and put in the time, it won't be long before you can live your life without needing a paycheck.
What then? The time is yours! Write that book you've always wanted to. Home school your kids. Run for public office. Volunteer in India. The sky is the limit!
Stop spending your money, start investing your time, and you will be one step closer to leaving a positive legacy in the world for years to come.
Share your comments and suggestions. Any other tips for gaining wealth are greatly appreciated.