”The richest people in the world look for and build networks; everyone else looks for work.” – Robert Kiyosaki
Welcome back WF Family!
As I review my week, I found inspiration from a conversation I had with someone regarding job searches and wealth. It is unfortunate that many young adults have to weigh whether they should sacrifice their passions for immediate income. This is the hole that gets larger and larger as most young adults carry more responsibility and therefore require more hours spent at a job that they hate because it pays the bills.
The old middle-class way of thinking has poisoned many to believe that life is solely revolved around working for money, paying your debts down, and hoping you get a pension when you are too old to enjoy it.
Well, let me tell you something. If you are a member of this family, you better understand that we do not work for money, we make money work for us!
What is one of the biggest fears of the working and middle-class? Getting fired!
While there are thousands of individuals who are living freely because of their wise decisions, there are ten times more people working every day just to pay the bills and have enough money to go out with their friends on the only free time they get, weekends!
Whose fault is that? Well, there are many answers to that. The educational system, parents, the individual themselves, the list goes on.
We are trained to go to school, pay for it in student debt, find a job, then pay down that student debt while trying to buy a car and a house. Unfortunately, you can’t afford a good rate on a mortgage because that student debt weighs down your credit score. So you postpone buying a home and keep renting (which is helping someone else get rich), saving your pennies from work while you are draining your body just to get by day by day. Eventually, you will be in your thirties and can afford to have some sort of mortgage rate.
But now you are working to pay down that mortgage and that remaining student loan debt. You soon are in your 60’s with grown children and you want to retire but can’t afford to because your kids need to get through school and the savings account you made for their schooling isn’t enough since tuition has increased tremendously. By the time you do retire, you find out that there isn’t enough pension for you, so you decide to work until you simply can’t. What a life.
Instead, you consciously decide that rather than hating on the rich, you want to join their club. So, you may still go to university, but while you are in school, you are learning as much as you can about investing and ways other people became financially free. You start to invest in the stock market and buy physical gold and silver (because you know what real assets are). By the time you leave university, you have thousands in assets and you may have student debt, but you have paid a huge a portion or all of it off from working and using your assets.
You find yourself a job, but not just to have a job. You get a good paying job to fund your investments and business ideas. You hustle and have enough to purchase real estate. You buy your first property then begin to have serious cash flow. Of course, when it is appropriate, you drop that slave job of yours. Ten years from that point on, you have tens of thousands of dollars coming in monthly (more than all of your friends’ annual salaries) from your investments, hard assets that you can pass on to your children, and you are unaware of what a paycheck is, you prefer cash flow. You can retire when you feel like it because you can live off your cash flow and enjoy your active years.
If you think that sort of life is a fairytale, then you are hanging around plenty of losers! One thing that I am thankful for is moving to Europe and seeing how other people are living. Billionaires and multi-millionaires for the most part all think the same. And they all have variations of the same result – everlasting wealth! Get into the habit of making money work for you. If you are in the same job for years and are financially in the same place you were before or worse, you need to check your hands and feet for shackles because you are a slave to your job. Find out your passions and start to create a life for yourself, not helping someone in a corporate office far from you afford their private jet and miscellaneous hobbies!
Remember that employees are a tax write-off. And as we know on Wealthy Fools, tax cuts are for us businessmen and businesswomen, not for the working-class (the rules are the rules). So rather than being an employee for the rest of your life, work towards starting a business, hiring employees, and start taking advantage of what most can’t possibly conceive.
Don’t work for money, make money work for you.
Until next time,
Live Long and Prosperous.
Value Investing Millennial Jahnome McEwan provides FIFTY tips for Young Adults looking to build wealth from now. If working a 9-5 until retirement twists your stomach, Jahnome has a way to get you out of it!
Click here if you are interested in learning how!
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This website and its contents are solely opinion-based. The information provided does not constitute investment advice. Accordingly, due to the information on this blog only being of personal opinion and experience, it should not be considered professional financial decision advice. The ideas and strategies expressed should never be considered without first assessing your personal and financial situation, or without consulting a financial professional. My thoughts and opinions will change over time as I learn and accumulate more knowledge.