How to be rich..hmm…I’m sure the majority reading the title and the post would immediately point their attention to money in reference to this article. Cause believe it or not, money is important. Money funds our lives and allows us to live our lifestyles with the freedom of choice. Is that the type of rich you want?
If it’s not, then there’s always different types of rich such as time rich, stocks and bonds rich and nutrient rich. I’ll be focusing more on money rich vs time rich. Let’s compare shall we?
This is what you and the most of the population knows about. Money, bank accounts and investments. To simply earn money, you need to sell to a customer or business your skills, services and products. This works both ways if you’re an entrepreneur or an employee. Entrepreneurs need to make sales. Money is the oxygen of their business, if there is a lack of then guess what? Their mission’s survival is in jeopardy so they must continually sell to earn money. For the employee, they are selling their skills to a company/business in return for a salary, health benefits and other perks.
Obviously that is what everyone knows is the best way to become rich. Earn money, budget, save and or invest. This cycle is simply rinse and repeat. But with this getting rich strategy involves selling your time for money. Regardless of whatever your business or your employee role. You are selling your time.
‘I’ve got no time’. ‘I’m so busy’ are common complaints when it comes to finding time or allocating priority to a certain task . Those who are ‘Time Rich’ do not say this. Being time rich is having the abundance of time, time to eat, time to walk, exercise or time to travel. I like to think that time rich is the next level up from money rich. Those who are time rich have automated sources of income. This means that their cash flow comes into their bank account on a free-flow basis via automated online software systems or a managing team/group handling your business mechanics. This means that your business whether a full time or a side-hustle is run without your presence. Therefore taking you out of the business and giving back your free time. Wouldn’t that be great?
Both are awesome. Really. They are. The truth is some people really freaking enjoy being the money rich type, meaning they love being immersed in their work as in they love dedicating their time to earn their cash flow. I used to be one too. I used to love it when friends and family used to admire how much I worked and the long 18-19 working hours a day I used to live. It was great but it’s not sustainable. I lived like this based on a YouTube video featuring the legendary empowerment expert, Mr Eric Thomas who was talking about famous rapper ’50 Cent’. Thomas talked about 50 cent’s work ethic in that people who sleep are those who are broke and if he slept, 50 cent would potentially miss an opportunity to grow. That really hit me and I lived like that for many months but it really ran me down.I believe my work ethic is unchallengable. But I believe what makes me more effective is my work efficiency. Being able to complete my goals and tasks within a time frame makes me much more effective.
That’s why I’ve moved into being ‘TIME RICH’. My primary business is my Podiatry clinic and Triumph Institute which I’ve chosen not to be held down seeing 20+ clients a day but rather reduce the number of patients/clients I see a day and see committed people for longer appointments. That’s the decision I made and it has been great and because of this, I have much more time to go to the gym, film vlogs, write articles, conduct meetings and have lunches with my wife! This is freedom. And the best part is that when I travel I make time to meet with clients or fellow entrepreneurs.
What I’ve built is the freedom to choose. Have you?