More money is better than less money, right? That is the conventional wisdom. There are a few obvious ways to get more money: 1. Work longer: Work more hours at your current job, or get another job and work that, too.
I hate to bring it up, but this is a path that some people take at the cost of their character. Walter White did it. Win the lottery. Sell platelets. They are content with what they have. That contentedness is an economic choice.
Now, there are some non-obvious ways to have a desire to work and earn money more money. You could realistically do something like become a real estate agent, and potentially make two to four times what you make currently. But most people do not want to change jobs. They define themselves as a high school teacher. I help children. It is understood that people in those professions make sacrifices, so a certain amount of prestige comes with the job. That prestige is worth something.
And you can quantify how much it is worth — simply ask people how much money it would take for them to give up their job and do something a little more distasteful.
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Start income investing This is a less obvious way to make more money. You could save up some money, buy a piece of property, and rent it out. If you do it right, you are cash flow-positive.
You can borrow more money and do it again, and again. Borrowing money is dangerous, but you can make a lot of money doing this if the economy works in your favor. RV parks, dental offices and other businesses also spit out income.
I know plenty of people who make a good living off the income from their investments.
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I bring up income investing because it is something that most people can do in their spare time, if they are motivated enough to do it. I also include fix-and-flips in this category. Start a business This is by far the best way to make money. Just about everyone has sat around drinking beer and dreamed up an idea for a business.
If you start a business with your own money, and fail, it blows up your personal finances. You could go bankrupt.
But if you want to get really rich, that is pretty much how you have to do it. Because you are actually investing in yourself — and then you are compounding at a very high rate.
The reality is that money is a choice.
Someone who wants more money can do any or all of these things. They can work harder or longer, they can get a different job, they can fool around with real estate, or they can start their own business.
Most people choose not to, because they are either content with what they have an economic choice or their self-image is tied up in not being rich another economic choice. So the first step in making money is … actually wanting to make money.
Lose the cargo shorts. Stop watching The Learning Channel. Hang out in places where rich people hang out. That comes from working really hard and being successful, and watching a lot of other people not do that.
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A lifetime of struggle. Yes, it gets easier after a while, and when you see someone who has money, they are probably making it seem like it was easy. Underneath is a whole lot of sweat and toil. Maybe you think that money will turn you into a different person.
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Money is a choice Money is a choice: You have to choose to want it, and it also represents choices. It represents things you can do. Anything becomes possible. You must possess a belief system make money on the balance of money tells you that material things can make you happier and that your work and effort can buy increased comfort.
Conclusion 1. Making money is hard. It is worth it. In a special report, he writes about how to properly position your portfolio for what he says is an upcoming stock market crash. I got nothing.