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Trading time for money - By far the worst of the three income earning strategies, it is employed by approximately 96% of our population - doctors, lawyers, accountants, laborers, etc. There is an inherent problem with this strategy - saturation. You run out of time. If a person accumulates any degree of wealth employing this strategy, it will be at the expense of a life. They compromise on the car they drive, the house they live in, the clothes they choose and the vacations they take. They rarely, if ever, get what they want.
Investing money to earn money - This strategy is used by approximately 3% of the population. The number is small for the obvious reason - very few people have any money to invest. Many people who effectively employ this strategy follow the advice of a trusted, knowledgeable advisor.
Leveraging yourself to earn money - This is where you multiply your time through the efforts of others by setting up Multiple Sources of Income (MSI). This is, without question, the very best way to increase your income. Make a decision to have many sources of income; it's the strategy that wealthy people have used dating clear back to the ancient Babylonians. Unfortunately, this strategy is only used by approximately 1% of our population, yet that 1% earns approximately 96% of all the money that is earned!
Money is the ultimate servant. The more you earn, the more you can help others.
Three Income Earning Strategies
Trading time for money - By far the worst of the three income earning strategies, it is employed by approximately 96% of our population - doctors, lawyers, accountants, laborers, etc. There is an inherent problem with this strategy - saturation. You run out of time. If a person accumulates any degree of wealth employing this strategy, it will be at the expense of a life. They compromise on the car they drive, the house they live in, the clothes they choose and the vacations they take. They rarely, if ever, get what they want.
Investing money to earn money - This strategy is used by approximately 3% of the population. The number is small for the obvious reason - very few people have any money to invest. Many people who effectively employ this strategy follow the advice of a trusted, knowledgeable advisor.
Leveraging yourself to earn money - This is where you multiply your time through the efforts of others by setting up Multiple Sources of Income (MSI). This is, without question, the very best way to increase your income. Make a decision to have many sources of income; it's the strategy that wealthy people have used dating clear back to the ancient Babylonians. Unfortunately, this strategy is only used by approximately 1% of our population, yet that 1% earns approximately 96% of all the money that is earned!
Money is the ultimate servant. The more you earn, the more you can help others.
