What is your initial response when you see this title, “How do you earn your money?” Some of you may be thinking, “There’s more than one way?” while others of you may already be counting two or three income avenues from your own ventures. Whatever your level of understanding currently, I know you’ll be able to get something out of this post.
Four Different Income Methods
According to Robert Kiyosaki, there are 4 different methods for acquiring money today, and your level of wealth is directly related to which area you are currently participating.
The Poor Ways to Earn Your Income
1. Employee – This is an income-earning method that is quite familiar to all of us. I, in fact, have a job within a corporate office and would be labeled as an employee (that is, outside of my web ventures). I am paid hourly and do not have much fluctuation in earnings from year to year.
2. Self-Employed – Believe it or not, being self-employed is much like being an employee. You might make more money, but at the same time, you are most likely putting in more time. If you feel like you are the magic that makes your business run, then you belong in this category.
The Methods of the Wealthy
3. “Big” Business Ownership – This is a business that is owned by you, but rather than you being the magic, you have developed a system that works time and time again, no matter if you are at the business or not. A great example of this is Ray Kroc’s franchise, McDonalds. Ray developed a system that sent all of the new McDonald’s owners to Hamburger University, not Ray’s office. He made money day in and day out whether he was there or not.
4. Investing – You may think you’re an investor, but this category is for those that $250,000 of discretionary income to invest. If they lost it all, it wouldn’t change their lifestyle one iota. Basically, this method allows your money to earn more money. If you don’t already have money, this is not an option for you.
The Difference Between the Poor Ways and the Methods of the Wealthy
Have you already noticed the difference between the poor methods and the wealthy methods? Basically, the poor believe that there should be an even exchange between time and money. If I work 10 hours, I deserve $100 and so on. If they are not actively working, they believe that they should not be paid.
The wealthy believe in doing work now (perhaps for no money) that will yield them an income repeatedly in the future. They understand that $1 per day for the rest of their life is worth much more than $100 immediately.
Do your best to think like the wealthy. Delay your gratification and look into the future 10 or 20 years. How will your decisions today affect the future? Once you begin thinking with this mindset, the response to your challenges should become clear, allowing you to transform your current life and begin walking the path of the wealthy.
Are you striving to become a “Big” business owner or investor? What are your plans to become wealthy?