Why working for money is a waste of your time.
Most people are stuck in a linear mentality of earning income. They are only looking at how much they earn per hour or per job completed. While this may keep a roof over their heads, they amount of hours they can work or the number of jobs they can do are limited. There have been times in my life where I earned a great income, but had absolutely no free time to enjoy it. What’s the point?
Wealthy people see things differently. Wealthy people aren’t necessarily afraid of or unwilling to work hard. Wealthy people generate passive income by working hard one time and continuing to be paid for that work over and over again. In the beginning they may not earn a lot of money and people cannot see that they are accumulating wealth. After doing the same simple things over and over they eventually develop enough passive income that they not only have a high income, but also free time to enjoy it.
Many friends and family of mine, see my passive income investments as a waste of time. I know people who think $15 an hour is a great income, but think the $100 a month profit I get from a rental property is a waste of time. The difference between the two is that they have to get up and go to work every day to continue earning that $15 and hour. I have already done the work on my rental property. They must spend their money on gas, vehicle maintenance, etc. commuting to and from work. My renters mail or bring payments to me or my property manager. My friend can only physically work so many hours a week. Even if he could work more, his employer typically will not let him work more than 40 hours. I can buy as many rental properties as I want. I bought a mobile home for $1000. My actual investment was $150. A partner put in $300. The remainder of the balance was financed and was paid from the rent collected. Now my partner and I each receive $100 a month just by being alive. If we were to cease being alive, our heirs would receive the $100 a month. We can and do continue to acquire more properties. The more we buy, the more income we receive and the less we actually have to work for money.
This is how people become wealthy. Instead of looking for the one big score (i.e. lottery), waiting for that higher paying job or that sure thing investment of a lifetime just do simple things that pay you over and over again for work done one time. Continue to do those same simple things over and over again and one day you’ll wake up with an above average income and the free time to enjoy it.