Ankündigungen/News » basically makes the point to work as hard

The main point is to do something extra so you can save more Doug Baldwin Hoodie , not spend more. Many business owners start out this way.


Passive Income


Money saved leads to passive income. For example, if you saved up enough to buy a second home you could rent it out for passive income. Essentially, you could get a rental payment for hundreds of years. Or Earl Thomas III Hoodie , you could purchase several homes that are mortgaged and in thirty years or so you’ll have a bunch of rentals.


Your savings could also help you to get into a business that runs on its own. You could be a limited partner. You could also invest in stocks or bonds and collect passive income this way.


The bottom line is that you need passive income to build wealth. Due to the powerful compounding nature of money, you become very wealthy if you use money somewhat intelligently. You need capital so learn how to save. Many businesses only require 20-30 thousand to start. It’s in most people’s realm of possibility if they work hard and save.


Leverage


Working a regular job is poor leverage. There are only so many hours in a day to work. Does this mean you should quit your job? Not likely. Most wealthy people were great employees first. They saved while working for someone else. Get yourself into a great career and then save up your money. You will notice that most people will be blowing all their money. The few that invest wisely will become truly wealthy. If you think it’s too hard and takes too long think about your children or ways in which society might benefit.


Leverage can come in different ways. Good employees or businesses that run on their own are great ways to leverage your time. Wise investments are also great leverage.


What we miss is that simply saving money will eventually get you where you need to be. You will be broke no matter what you make so you might as well be broke with a future.


Future Generations


Children must be taught from an early age to respect parents and work hard. Usually by the third or fourth generations wealth disappears from families. Someone decides it’s too much trouble to work hard and play by the rules. However, some families have remained wealthy for hundreds of years. It’s in how they teach their children responsibility and work ethics. Since they are so blessed 12th Fan Hoodie , they have a responsibility to improve upon what was given to them. Americans are pretty poor on this point. You could look to other cultures (eastern) to learn more about this.


Final Tips


Having read the book, How To Be Rich by J. Paul Getty (billionaire) he basically makes the point to work as hard as possible, be immensely frugal Michael Dickson Hoodie , and spend cash on opportunities that look promising. Great opportunities are there you just have to work hard at coming up with creative solutions. You will find your competitors aren’t working that hard on solutions. Most large companies have policies to take the thinking out of employee’s hands. It’s how companies protect themselves from making big mistakes. However, they are missing a lot of good opportunities. As a regular person, you have a huge advantage in