Want to be Wealthy? Stop Swapping Your Time for Money
Many of us were taught to do well in school, get a great job, work hard, and you’ll
eventually make a lot of money. This may be true, but there is a great limitation to
working for someone else. Time. There are only so many hours in a week. No one can
buy or create more.
Even doctors suffer from this limitation. The average physician makes a large salary,
but there aren’t many that make a million dollars a year. Even a physician is swapping
his time for money. He only gets paid while he’s seeing patients. He can’t see more
than one at a time and he can’t see them while he’s asleep. The clock ultimately limits
This is also true for consultants, dentists, lawyers, and CEOs.
If you want the opportunity to make a tremendous amount of money, it’s important to
find ways to earn without your presence being necessary. Free yourself from the clock
and your ability to earn is unlimited.
There are better ways:
- Get paid more than once for the same work. Think about artists, authors, and
musicians. In their respective businesses, they’re able to get paid repeatedly for
the same work. An author can write a book and then sell a million copies over the next 10
years. During that time, she may have written 20 more books. What could
be better than getting paid multiple times for the same work?
What are some other businesses that can utilize this same strategy?
- Do something that allows you to receive recurring payments. Leasing office
space or other real estate to others keeps money coming in while you do other
things. Building a website and leasing it is a similar strategy.
- Be an investor. The great thing about stocks, bonds, mutual funds, and similar
investments is the ability to make money with little work on your part. You’re
essentially making money while you sleep. You could also loan money to others.
- Outsource / arbitrage. Many people set up businesses and then outsource all
the work. This is especially true online. For example, there are people that sell
website building services. These same people then hire someone else at a
reduced rate to do all the work.
- If you can successfully buy something for $X and sell it for $X+Y, you can potentially
make money with little work. Can you think of ways to make money from the work of others?
- Create passive income. A website that sells an affiliate product can make
money while you sleep and is a form of passive income. It’s not difficult to build
a website that makes a mere $5/day, but keep in mind that’s over $1,800/yr.
Make a list of other ways you can make money passively. Time is limitation for all of us. So far, no one has lived forever. But time doesn’t have to limit your income. Doctors, lawyers, and CEOs are paid well, but you have even great financial potential if you can break free from swapping your time for money.
Uncertainty stops many people. If you write a book or create a website, you’re not
guaranteed to make any money at all. If you go to your job, you can expect to get paid
on a regular basis.
Courage and persistence are required.
Get started today and build an income stream that isn’t dependent on your time or
presence. You’ll enjoy getting paid while you’re not at work!
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To your success,