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LEVERAGING WHAT YOU HAVE

Last updated on 5 December 2020

Do you consider yourself as poor? Most wealth apprentices in the developed world suffer from negative thinking that keeps them from moving into riches. They think that they are poor and compare themselves to the super rich. This strategy is deadly for raising our income to financial independence and beyond.

The answer is to go to one of the many websites that will compare our wealth with the global average and be surprised to find we are in the top few percent in the world. The trick to amassing great wealth is to see ourselves as already rich. If people regard themselves at the bottom of the heap they might try to compare their lives with an individual from the past one to two hundred years.

They had little access to healthcare no education to speak of, no internet, phones or tv. They had no motorised vehicles, trains or aircraft and didn’t travel much throughout their lives. I am not saying that we don’t struggle today but poverty like wealth is relative and even the very rich in the past would give anything to be just average now.

Whatever we have, however small, is the starting point for the wealth to come. It is the tiny acorn that will turn into a huge oak tree the cell that will make a human or the tiny singularity that caused the big bang of the universe.

A percentage of the money we have we didn’t earn. In every life we were given something for nothing. It is this money that I want to focus on. When we work for money we value ourselves by how much we get. This is another mistake. Many professions get paid before they have to do anything and they are the ones that get wealthy. When we join a gym the subscription is automated. The gym is paid before we use it. If we go several times a week they are providing a service but they also earn from those who forget to use it. The term passive income literally means that the wealth apprentice can get money for nothing. Think of how many ways you can get money without having to do very much. Which professions lend themselves to passive wealth and that will show you the way.

I will give you an example that is of insurance companies.

Their clients pay them premiums every month or year to insure against a disaster. It is only when something occurs that we claim. However they have your money and all the work is on the client or their representative, the broker to make the claim. If you finally get some money out of them they will probably put your premiums up. The companies have great leverage with their potential, their positioning the kinetic action is on your shoulders.

I used to play squash. The best players used to place themselves in the centre of the court not moving much while the opponents ran round in circles getting nowhere.

Tips

1 Value and be grateful for what you already have.

2 Some of your money will come to you passively, value it

3 Find a career where you get paid before you have to do anything.

Published inMoneySelf development