Hello friends, in today’s article we see the wealth file #15 on making money on investments by the rich people. In this wealth file, we learn rich people have their money work hard for them. and poor people work hard for their money. so let’s understand this wealth file to improve our life.
Wealth file #15:-Making Money On Investments
Rich people have their money work hard for them.
Poor people work hard for their money.
In this wealth file, the author explains the most important difference that may challenge your belief system but is true in real life.
the author explains in detail, how rich people make money on investments
the author says, ” if you’re like must of people, you grew up being programmed that you ‘ have to work hard for money.’ chances are good, however, that you don’t grow up with the conditioning that it was just as important to make your money ‘ work hard for you’
No question, working hard is important but working hard alone will never make you rich. how do we know that? take a look in the real world. there are millions no, make that billions of people who slave away, working their tails off all day and even all night long. are they all rich? the answer is No!
Are most of them rich? the answer is No! are a lot of them rich? the answer is No! most of them are broke or close to it.
On the other hand, whom do you see laughing around the country clubs of the world? who spends their days, shopping and their weeks vacationing? I will give you three guesses and the first two don’t count.”
then the author explains, working hard to get rich is a bogus idea
the author says, ” Rich people that’s who! so let’s get this straight; the idea that you have to work hard to get rich is bogus!
the cold protestant work ethic states ” a dollar’s work for a dollar’s pay.” there’s nothing wrong with that adage except that they forgot to tell us what to do with that ” dollar pay”
Knowing what to do with that dollar is where you more from hard work to small work. they understand and use leverage. they employe other people to work for them and their money to work for them.
yes in my experience, you do have to work hard for your money for rich people, however, this is a temporary situation. for poor people, it’s permanent rich people understand that ‘ you have to work hard until your ‘ money works hard enough to take your place. (Making Money On Investments)
they understand that the make your money works, the less you will have to work.
Remember money is energy. most people put work energy in and get money energy out.”
then the author talks about financial freedom by working money.
the author says, ” people who achieve financial freedom have learned how to substitute their investment of work energy with other forms of energy.
these forms include other people’s works, business systems at work, or investment capital at work. Again first you work hard for money, then you let money work hard for you.
when it comes to the money game, most people don’t have a clue as to what it takes to win. what’s your goal? when do you win the game? are you shooting for square meals a day, $100,000 a year in income, becoming a millionaire, becoming multimillionaires.
At the millionaire mind intensive seminar, the goal of the money game we teach is to ” never have to work again… unless you choose to ” and that if you work, you work by choice, not by necessity.
In other words, the goal is to become “financially free” as quickly as possible. my definition of financial freedom is simple: it is the ability to live the lifestyle you desire without having to work or rely on anyone else for money.
notice there is a good chance that your desired lifestyle is going to cost money therefore, to be ” free” you will need to work as passive income.
to win the money game, the goal is to earn enough passive income to pay for your desired lifestyle. in short, you become financially free when your passive income exceeds your expenses.”
hope you understand the financial free definition, so everyone wants to get financial free but very few got financial freedom. (Making Money On Investments)
so for financial freedom, we need passive income, for that, the author explains the two types of passive income.
the author says, “I have identified two primary sources of passive income. the first is ” money working for you” this includes investment earnings from financial instruments such as stocks, bonds, money markets, mutual funds, as well as owning mortgages or other assets that appreciate in value and can be liquidated for cash.
the second major source of passive income is ” business working for you.” this entails generating ongoing income from businesses where you do not need to be personally involved for that business to operate and yield an income.
examples include rental real estate, royalties from books, music, or software licensing your ideas; becoming a franchisor; owning storage units; owning vending or other types of a coin-operated machine, and network marketing.
it also includes setting up my business under the sun or moon that is systematized to work without you. Again, it’s a matter of energy.
the idea is that the business is working and producing value for people, instead of you.
I can’t overemphasize the importance of creating passive income structures. it’s simple without the passive income you can never be free. but, and it’s a big but, did you know that most people have a tough time creating passive income. there are three reasons. first conditioning.”
then author explains why most people don’t make the passive income stream
the author says, ” most of us were actually programmed not to earn passive income. when you were somewhere between thirteen and sixteen years old and you needed money what did your parents tell you? did they say, ‘ well go out there and earn more passive income?” doubtful! most of us heard, ” go to work, get a job or something to that effect.
We were taught to ‘ work’ for money not for making passive income.
Second, most of us were never taught how to earn passive income. In my school, passive income 101 was another subject that was never offered. this time I got to take woodworking and metalworking ( not both still entailed ‘ working’) and make the perfect candle holder for my mom.
Since we didn’t learn about creating passive income, structure in school, we learned it elsewhere, right? doubtful. the end result is that most of us don’t know much about it and therefore don’t do much about it.
Finally, since we were never exposed to or taught about passive income and investing, we have never given it much attention. we have largely based our career and business choices on generating working income. if you understood, from an early age that a primary financial goal was to create passive income, wouldn’t you reconsider some of those career choices?”
then the author recommends to people choose a passive income stream
the author says, “I’m always recommending to people choosing or changing their business or career to find a direction where generating of stream of passive income is natural and relatively easy.
this is especially important today because so many people work in the services business where they have to be there personally to make money. (Making Money On Investments)
there’s nothing wrong with being in a personnel service business, other than that unless you get your investment horse pretty soon and do exceptionally well, you’ll be trapped into working forever.
by choosing business opportunities that immediately or eventually produce passive income, you’ll have the best of both worlds- working income now and passive income later.
Refer back to a few paragraphs to review some of the passive business income options we discussed. unfortunately, almost everyone has a money blueprint that is set for earning working income and against earning passive income.
this attitude will be radically changed after you attend the millionaire mind intensive seminar, where using experienced techniques, we change your money blueprint so that earning a massive passive income is normal and natural for you.”
then the author talks about the difference between rich and poor people’s mentality. to be a poor people mentality, if you occurred some of your habits like poor people mentality, try to change with rich people mentality.
the author says, ” Rich people think long term they balance their spending on enjoyment today with investing for freedom tomorrow.
Poor people think short-term. they run their lives based on immediate gratification poor people use the excuse ” how can I think about tomorrow when I a barely survive today?” the problem is that eventually, tomorrow will become today. if you haven’t taken care of today’s probably you’ll be saying the same thing again tomorrow too.
to increase your wealth, you either have to earn more or live on less. I don’t see anymore putting a gun to your head telling you the house you have to live in, the kind of car you have to drive the clothes you have to wear, or the food you have to eat. (Making Money On Investments)
you have the power to make choices. It’s a matter of priorities. poor people choose now rich people hoose balance.”
then the author gives, their own life experience,
the author says, ” For twenty-five years my wife’s parents owned a variety store a low-end version of a 7-eleven and a lot smaller. most of their income comes from the sales of cigarettes, candy bars, ice cream bars, gums, and sodas.
they didn’t even sell lottery tickets in those days the average sale was less than a dollar. In short, they were in a “penny” business. still, they saved most of those pennies.
they didn’t et out; they lived comfortably but modestly and eventually paid off their mortgage and even bought half of the plaza the store was located within at the age of fifty-nine, by saving and investing ” pennies” my father-in-law was able to revive.
I hate to be the one to have to tell you this, but for the most part, buying things for immediate gratification is nothing more than a futile attempt to make u for our dissatisfaction in life.
More often than not, ‘Spending” money you don’t have comes from “Expanding” emotions you do have. This syndrome is commonly knowns as retail therapy. Overspending and the need for immediate gratification have little to do with the actual item you’re buying and everything to do with a lack of fulfillment in your life.
Of course, if overspending isn’t coming from your immediate emotions, it arises from your money blueprint.”
then the author explains, how our blueprint affects our life from past experience, with an example of seminar Students,
the author says, “According to Natalie, another of our students. her parents were the ultimate cheapskates! they used coupons for everything. her mother had a file box full of coupons all sorted by category. her father had a fifteen-year-old car that was rusting and Natalie was embarrassed to be seen in it, especially when her mom picked her up from school. (Making Money On Investments)
Anytime she got in the car, Natalie prayed that no one was looking on vacation, her family never stayed in a motel or hotel; they didn’t even fly, but drove eleven days across the country and camped the whole way, every year!
Everything was ” too expensive” the way they acted, Natalie thought her parents were broke. But her dad earned what she believed was a lot of money at the time, $75,000 a year.
She was confused because she hated their stingy habits she become the opposite. she wanted everything to be high-class and expensive. when she moved out on her own and started making her own money she didn’t even realize it, but in a flash, she had spent all the money she had and then some!
Natalie had credit cards, membership cards, you name it. She racked up all of them to the point where she couldn’t even pay the minimums anymore! that’s when she took the millionaire mind-intensive seminar, and she says it saved her life.
At the millionaire mind intensive seminar, during the session where we identify your “money personality,” Natalie’s whole world changed. She recognized why she had been spending all her money. It was a form of resentment towards, her parents for being so cheap. (Making Money On Investments)
It was also to prove to herself and the world that she wasn’t cheap. Since the course with her blueprint changed, Natalie says she no longer has the urge to spend her money in “stupid” ways.
Natalie related she was recently walking through a mall and noticed this gorgeous high brown suite and for cost hanging in the window display of one of her favorite stories. immediately her mind said, ” that coat would look great on you, especially with your blond hair. you need that you don’t have a really nice dressy winter coat.” so she walked into the store, and as she was trying it on, she noticed the price tag, $400.
She had never spent that much on a coat before. her mind said, ” So what the coat looks gorgeous on you! get it. you’ll make the money up later. this is where she says she discovered how profound the millionaire mind intensive is.
Almost as soon as her mind suggested that she buy the coat, her new and more supportive mind ‘file’ come up and said ” you’d be much better off putting that four hundred dollars towards your FFA account! what do you need this coat for? you already have a winter coat that’s okay for now.
Before she knew it, she was putting the coat on hold until the next day instead of buying it right there at the moment as usual. she never went back to get the coat.
Natalie realized that her mental ‘ material gratification’ files had been replaced with “financial freedom” files. She wasn’t programmed to spend anymore. she now knows it’s fine to take the best of what her parents modeled for her and save money and at the same time, to treat herself to nice things with her play account.
Natalie then sent her parents to the course, so they could be more balanced as well. she is thrilled to report, they now stay in motels, they bought a new car, and in learning how to make money work for them. they’ve retired as millionaires.
Natalie now understands that she doesn’t have to be as “cheap” as her parents were to become a millionaire. But she also knows that if she spends her money unconsciously as before, she’ll never be financially free.
Natalie said, ” It feels amazing to have my money and my mind under control.”
Again, the idea is to have your money work as hard for you as you do for it, and that means you have to save and invest rather than make it your mission in life to spend it all.”
after this wonderful example, the author gives the difference between rich and poor people on spending.
the author says, ” It’s almost funny: rich people have a lot of money and spend a little, While poor people have little money and spend a lot.
Long-term vs short-term: poor people work to earn money to live today. rich people work to earn money to pay for their investments, which will pay for their future.
rich people buy assets, things that will likely go up in value. poor people buy expensive things, which will definitely go down in value. (Making Money On Investments)
Rich people collect land. poor people collect bills. I’ll tell you the same things I tell my kids; “buy real estate.”
it’s best if you can purchase property that can produce positive cash flow, but as far as I’m concerned, any real estate is better than no real estate. Sure real estate has its ups and downs, but in the end, be it five, ten, twenty, or thirty years from now, you can bet it will be worth a heck of a lot more than it is today, and it could be all you need to get rich.
Buy what you can afford now. if you need more capital to get involved, you can partner with people you trust and know well. the only way to get in trouble with real estate is to overextend yourself or have to sell in a down market.
if you need my earlier advice and manage your money, properly, the likelihood of this happening will be extremely slim and likely none. as the saying goes, ” don’t wait to buy real estate, buy real estate and wait.”
then the author gives his parents examples, you can read this example, in the book,
link in the following image.
While poor people see a dollar as a dollar to trade for something they want right now,
rich people see every dollar as a “seed” that can be planted to earn a hundred more dollars. which can then be replanted to earn thousands more dollars!
think about it. Every dollar you spend today may actually cost you a hundred dollars tomorrow. Personally, I consider each of my dollars to be investment ” soldiers” and their mission is “freedom”.
needless to say, I’m careful with my “freedom fighters” and don’t get rid of them quickly as easily. the trick is to get educated. learn about the investment world. become familiar with a variety of different investment vehicles and financial instruments, such as real estate, mortgages, stocks, funds, bonds, currency exchange, etc.
it comes down to this: Poor people work hard and spend all their money, which results in their having to work hard forever.
Rich people work, hard to save and then invest their money so they never have to work hard again.
so this is all about the wealth file #15 on making money on investments.
hope you understand some points that really affect our life. then try to develop the habits of rich people to make money work hard for you.
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