Building wealth is not about making money or accumulating expensive toys. And as far as salaries go, it’s not the size that matters, it’s what you do with it.
There is NO MAGIC FORMULA to triple your income overnight. This can be done, hypothetically, in the worlds of hedge funds and cryptocurrencies. But these methods are never guaranteed. With the chance of great reward comes great risk. You could lose everything. If you ignore my advice and that happens, please don’t tell anyone that you read this book.
Make your money work as hard as you do. Ensure that time is on your side, no matter how old you are. Use the magic of compounding.
Invest most of your annual bonus. Unless you still have debt to settle, in which case that might make more sense, depending on your individual circumstances. Keep some of the bonus to treat yourself, so that being financially responsible doesn’t drain all pleasure from your life.
Many people work astonishingly hard to stay poor. They receive a bonus or an increase, and immediately plan how to blow it on a bigger house or a faster car.
They may convince themselves that they are investing in property. But owning a more expensive house than you need is seldom a sound financial investment.
Or they tell themselves they deserve a bout of retail therapy, because they’ve worked so hard and done so well.
Fair enough. You may decide to do that too. Just keep in mind that this is a choice. Not necessarily a good choice or a bad choice. But it needs to be a conscious choice. Because it will have consequences.
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Stop living from salary to salary. Achieve Financial Independence. Retire Early. Join the FIRE movement igniting the world.
Follow these weekly posts for solid advice on how to escape the rat race, covering material contained in Hard Money.
This is no get-rich-quick scheme. It won’t be easy. That’s why it’s called Hard Money.
Work while they sleep. Learn while they party. Save while they spend. Then live like they dream.
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Also available at Inner Journeys in Edenvale.
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