If you only take away one thing from this article, let it be this mindset: MAKE money, don’t EARN money. Simple as that.
The difference is that with earning money, your pockets are only filled with what your stingy boss is willing to pay you. Though when making money, your wealth potential is bound solely by your creativity (which by the way, is infinite).
From both my own experiences and also from my multimillionaire mentor (who I’ll speak more about in this post), I have picked up a lot of life, business and wealth building lessons. I’m still learning nonetheless, but I’m here to share what I learn as I go along in the hope that you can benefit from it!
How It Started:
Being a chubby, annoying 12 year old boy from London, I didn’t really have much drive or ambition to achieve anything great. Whilst my friends had dreams to become astronauts, investment bankers and Hollywood stars, I was simply trudging through secondary school, waiting for my next detention.
Apparently my early childhood was a very different picture, where I showed many traits of a future entrepreneur. Though social conditioning and societal pressure to ‘act normal’ soon came over me, swapping out my bold charisma for bland mediocrity. It seemed as if all hope was lost until a peculiar, yet genius mentor named Yasin entered my life and changed its course entirely.
A huge proportion of my achievements to date have been with Yasin’s mentorship, as he helped me escape the ‘motion of the masses’ and realign with my childhood entrepreneurial spirit . Yasin is the founder and former CEO of a global investment bank. He has since moved on to found one of the largest Financial technology holding companies in Europe and is the CEO at present. You can imagine the wealth of advice and mentorship I’ve had access to through my teens. The first thing I learnt from him formed my core perspective on making money:
Trade Money for Money, Rather Than Time For Money:
Trading time for money is the conventional method of making a living, e.g. a 9 to 5 job. If you do well in your job, you are rewarded with a raise or a bonus. No offence, but whats the difference between giving a raise to a good employee and giving a treat to a good dog?
We all have the potential and inner genius to become financially healthy using a bit of intelligence and creativity. I have found that the best way to do this is to trade money for money. This method is based around the simple concept of buy low sell high, which can be applied to anything from trading stocks, to selling niche high-heeled boots for transvestites.
In essence, I focus on making a profit from trade and investment rather than labour. For example, buying undervalued stocks, earning dividends from it and then selling it for a profit is a far better use of your time and resources than earning a salary from a dead end job. Not only does trading money for money free up your calendar a lot more allowing you to enjoy the fruits of life, but also it allows you to build wealth faster and create passive income.
I guess an argument could be made that trading money for money has higher risk and uncertainty than say a job. Though in this day and age, any highly paid corporate job is a shark eat shark world, with the chances of being chewed up and spat out increasingly likely. I personally would much rather prefer being in charge of my financial life, rather than being paid to be a cog in a machine.
Give it a shot.