Equation to wealth

The truth of wealth and the mindset behind it.

Do you believe that there is a side of the coin that you’re not being shown? Is there a road to wealth, and if so, how do you get in the fast lane?

Take a second and think about your views on money and the rich. Think about the tv shows and movies that you grew up watching, think about the characters which were living in mansions, and were rich. We were lead to believe that the rich were evil, entitled, corrupt and scheming. Were they dealt a better hand or are they just lucky. Have you bought into that stereotype. The majority of the top 1% of earners are self-made or grew up in poverty. CEO’s, TV show hosts, Hollywood actors and actresses, you’ll find a lot of them weren’t born into wealth.

What is it that they know, which you don't. The reason they are where they are is due to their equation. We have yet to learn this.

Many of us have false beliefs about wealth and thats not our fault. We have been taught one equation. This equation is …

Education + Job = Money (Salary earned from job)

The more time you spend at your job, the more money you earn. The better education you have, the higher your wage. This is what we have been brought up to believe. If you want to get out of this cycle and make more money, this equation will not get you there.

Is education the best resource? Is money the best resource? Or is there something that we are all missing. The one resource that we take for granted, the one resource that we do not think about, the resource that we trade in for money and education. We can not get this resource back, we can not earn more of this.

TIME.

Time is without a doubt the most valuable resource. If you earn $20 an hour, work 40 hours a week. Didn’t pay tax. Lived frugally. It would take you 24 years to earn your first million. The reality is that on a salary of $20 an hour, you can only be a millionaire at an old age. By this age, you realise that you have traded in your most valuable resource. You are now asking yourself, if this is the case then why are there people in their 20’s and 30’s earning 6 figures.

They have a better equation. They have a better understanding of money, which you are not aware of yet.

The truth is, its not about how hard you work. Its about your perceived value. An accountants perceived value is higher than a cleaner. The perceived value of a footballer is higher than an accountant. How do we increase our perceived value without falling back into the equation?

It’s simple. Stop looking for money. Look for problems. All the CEO’s and wealthy people that you know of have one thing in common. They look for problems and they invest in solutions!

Find a problem. Look for problems and look for scalable solutions to those problems. There are no local restaurants in your area, should you set up a restaurant? No, this is not scalable, you are forever restricted to your local area. A franchise however is scalable. Computer software is scalable. Look for problems and find solutions. Fulfill a necessity. Every successful CEO out there is fulfilling a need, is fixing a problem.

Find an income stream that does not rely on your time to generate income. let's take a teacher for example. They can only teach so many lessons, work for so many hours of the day. If they were to make an online course, it could be generating income over night. It is scalable.

Once you find a solution, you need to make it accessible.

If starting a business isn’t for you, there are other paths you can take. The mindset still applies. If you’re income is generated by your time alone, there will always be a limit. Use your time to put your money to work. Use your time to plant seeds. Whether it be opening an investment account, growing an instagram page, growing a social media following, creating content, writing an ebook, starting a course.

Plant the seeds. Escape the mindset and succeed.