To me, financial success will never be something that comes easy. There’s no quick fix. There’s no simple one step that will solve all your problems. To be financially successful you have to work hard. Over time your hard work, intelligent actions, and the mitigation of the risks you take will, grow, evolve, and compound to a nice level of financial abundance as you acquire a deeper level of understanding. From there the possibilities are endless depending on what your goals are and how far you want to take it.
When successful people speak, there is always a vast amount of wisdom being expressed, but depending upon where you are on your own journey, you may pick up on the surface level meaning, but miss out on the deeper, more abstract expression. Someone who has lived their life in a way to produce financial abundance has fought a difficult fight. They’ve lived the highs and lows for decades in some instances. They’ve experienced things that most people never will.
To put things into perspective, how do you teach an average person how to be a soldier? You can’t explain to them what it’s like to be in a war zone. The only way to truly understand that is by experiencing it first hand. On the same token, how do you teach a person who’s only worked a standard job their entire lives how to build real wealth? The answer is, you can’t. They have to walk that path and experience it for themselves.
This is why I’ve always put such an emphasis on self development because you have to master yourself, your emotions, clearly define your values and life purpose before you can even get started if you’re ever going to get to where you want to be. It’s like packing for a long trip. If you leave home without bringing the belongings you need you won’t get very far before being pestered, and sidetracked by all the problems that arise distracting you from your initial purpose. Your strong sense of self mastery is like your belongings on your quest to wealth.
If you set out to achieve financial success and you have no self awareness, no self control, no understanding of how your own mind is programmed, your emotions will get in the way and mislead you into costly mistakes. This point can be even more emphasized by looking at day traders, and those who lay it all on the line in different financial exchanges. If you have no self awareness and you try to day trade you’ll go broke in days.
The way I look at it is most people absolutely settle for mediocrity. Mediocrity is a relative term, but what I mean by that is most people go to college, take on debt to pay tuition, get a job serving a function that is only so valuable to their employer, gain experience, and gradually advance over the years linearly. The same time their income slowly grows, their benefits gradually become more expensive, inflation continues to devalue the currency they are paid in, the more they make, the more they spend, and the more debt they take on to have that nice new car, the big house, the clothes, and every other arbitrary item advertisers tell them they must have.
This is “normal”. Where is their income coming from? Sacrificing their time in exchange for a wage. Where does the wage earned go? To taxes, benefits, maybe a 401K, interest, insurance, and consumption. Where is this path heading long term? Keeping the individual spinning the hamster wheel indefinitely.
In the normal situation described above the individual will never get out of debt, the individual has, and will always have just one source of income. Their potential is vastly limited as in any employment relationship, the higher you go, the more scarce opportunities become. The pyramid gets more narrow towards the top. Again, you can be the worlds smartest person, but if there’s no demand for what you have to offer, and your role only requires so much intellect, you’re not going to get paid much more than the norm for that career!
It doesn’t matter how intelligent you are. If you have faith in the socially conditioned path, if you’re afraid to takes risks, if you focus on the negative, and don’t take action, you’re going to stay on that linear path and I can draw you that line to show you exactly where you end up from an income perspective.
Who typically gets the six figure plus jobs within a corporation? Is it the most intelligent person? Or is it the person who comes from wealth and is part of the social circle that those already in those position belongs to? Is it inner city public school valedictorian, or is it prep school C plus student who’s buddies already work those positions because someones dad is high up in the company?
Who becomes famous artists, musicians, actors, entertainers in modern society? Is it the super talented suburban kid who absolutely masters his skill set, or those connected to people high up within the entertainment industry? These are all generalizations and you can easily find exceptions to the rule, but let’s be honest with how the world we live in works. Those with abundance are offered breaks all the time and the hungry don’t get fed.
So the typical path will not lead to wealth 99% of the time. You have to get off that path and create your own. Model those who have gone before you and find your own way. I work with those who are on the mediocre path. My managers, my coworkers, my managers manger. They go to work every day, they have one source of income, and aside from showing up to work every day, they have absolutely no idea how to make money. They’ve seen and heard of other ways, but they have no depth in understanding how any of that works, which is why they’ve never acted upon those ideas.
For me personally, I try to avoid discussing any of my other income streams with these people because it’s just so foreign to them. It would be like trying to discuss calculus with a 5 year old. Their perception of what you’re explaining to them is just so out of touch with the reality of the situation that it’s almost not worth your time. Also, it’s so unusual for someone to make money outside of the 9-5 that people can sometimes use it against you by saying you’re too caught up with that and you’re not giving enough here in the office. It also throws the power dynamic out of whack when your salary may be lower than your managers, but your total income crushes theirs when you factor in all streams.
Lastly on this point, you can map out a step by step plan explaining every last detail of what you do to make your outside income and pass it out to everyone at the office and not a single one of them would act upon the information, or imitate what you’re doing. People know about my many streams of income. In the beginning I was afraid to talk about it because I didn’t want others saturating the market by imitating me, but over time I realized I can talk all I want and have no worries about anyone taking action at all. To this day of all the people who’ve asked about what I’m doing and how, zero have implemented my models.
I hope you can extract the meaning from the point I just made. You have to take action. When someones shares information, knowledge, or wisdom with you and it makes perfect sense, take action! Gain experience and learn from it. All the information in the world is absolutely worthless if you don’t implement it into your actions. Be positive, take risks, don’t be afraid to fail, realize when things go wrong you learn, the more you learn, the easier things will become in the future, and the more successful you will eventually become.
My strategy has been work the 9-5 job, have the linear career advancement, do the job well, but walk that path as an insurance policy. It’s a fall back. A worst case scenario. If I can’t invest in enough real estate to replace my salary, and free up my time, at the very least I’ll have that career. If I can’t network and continue to learn how to make money selling on amazon through arbitrage any longer, the experience was great, the money was nice, and the job is still their to fall back on. Go to work and produce, but outside of work keep learning. Keep trying new things. Keep exploring, taking risks, taking action, constantly moving, learning, improving, and evolving.
Every dime you make outside your job will bring you more fulfillment than you’ve probably felt in years from your paycheck. Follow your passion and find a way to create value doing what you love. Keep at it, adapt, grow, and never give up.
At the same time stay positive and be patient. The typical career path is linear, but the path to abundance follows a curve of exponential growth. In the beginning it barely increases at all. If you can stay persistent over that long phase of minimal growth, the curve eventually sky rockets to heights the linear path will never reach.
There have been times in the past where I’ve become frustrated with the process, just wishing I could break out already and wondering if that day would ever get here. The more time that passes the more I realize the importance of being patient, sticking with it for the long haul, and having that positive expectation for things to come. One day you’ll look back at where you are now and laugh that you ever had any doubt or concerns about how far you’d go. Enjoy where you are on your journey now and learn everything you can from it. You’ll need those lessons to stay grounded and humble when you’ve reached the top.by