See How The Poor Invest Time In 2023
Hello
My friend's dad said he could not invest because he had no money. My dad said, “Invest your time when you have no money.”
In most circumstances, people have no time to invest. Why? Because they think that working harder and longer will make them richer.
Of course, nothing could be further from the truth.
If you ask most people why they work so hard, they’ll tell you it’s for money.
By this, they mean a steady paycheck that provides security. Money is one of the primary reasons people take on thousands of dollars in college loans to get a degree for a high-paying job that they don’t like but which they spend most of their waking hours at — all while the things they really love in life sit on the sidelines waiting for them to finish working.
The problem with this approach is that you only make money as long as you work. The only thing of value that you have to sell is your time. So, in order to make more money, you have to work longer hours, which is physically taxing.
Because you only have a finite amount of time and energy, as an employee, your earning potential is finite.
By any measure, this is a poor investment.
It is a poor mindset to think I’ll trade my finite resource of time for money. The rich mindset is different, and they look at time and how to invest it very differently than the poor.
If you ask most rich people what they work for, they’ll tell you it’s for assets.
By this they mean investments and businesses that provide steady cash flow each month with little-to-no work. Instead of spending their life working for money, the rich work to understand how to make money work for them through financial education. Very simply, the rich don’t work for money, they make money work for them.
Working to add more assets is much different than working for a paycheck.
For instance, adding assets doesn’t require working longer or harder. In fact, the higher your financial IQ, the less you have to work to acquire high-quality assets. These assets then provide passive income, even while you’re sleeping or playing.
In other words, again, money works for the rich.
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