Creating a Cash-Cow
Some common ways to make a lot of money are working as a professional in a private firm or practice, flipping real estate, and trading stock.
A successful doctor who makes a million dollars per year is considered rich by the average person; someone who trades stock or flips real estate and makes a million from it is considered rich, too.
We're going to be daring and say that people like this are not at all rich. Why?
They are not rich because they do not make money forever. When they stop working, their income stops. Because of this, they are not rich.
So, how does one make money forever? Those of you who want to be rich need to learn how.
A successful doctor with his own private firm makes five hundred thousand dollars per year; he has many patients who give rave reviews about him. We're not saying that this doctor is wrong, but what did he do wrong from the standpoint of wanting to become rich?
His career is centered around impressing other people. His high school grades were meant to impress his college of choice; his college grades were meant to impress his master's program of choice; his accounting license is meant to impress potential clients; his work is meant to impress his clients so they recommend and come back to him.
Most would claim that this professional works for himself; he does own his own business. Technically, that is true. From our perspective, though, he works for his clients, not for himself.
Instead of working for his clients, he could build a business. Once he opens his business, he's gone deep into the rabbit hole. He wil be in a completely new world.
Suddenly, he isn't asked for his credentials by anyone. Taking the place of that are people lining up to show him their credentials!
By hiring people, the doctor is creating a business. He might have instead started his private practice, but instead of having the intention of working, his goal could have been to hire people to do the doctoring job for him. It would be his business, not his job.
When you have people working for you, instead of working for other people, money starts to come in without your individual effort.
If you have money coming in without your effort, you will make money indefinitely. Make sure you are on the hiring side of the table, not the "I want to be hired" side. You will create something that works for you indefinitely; therefore, you are going to make money forever.
A successful doctor who makes a million dollars per year is considered rich by the average person; someone who trades stock or flips real estate and makes a million from it is considered rich, too.
We're going to be daring and say that people like this are not at all rich. Why?
They are not rich because they do not make money forever. When they stop working, their income stops. Because of this, they are not rich.
So, how does one make money forever? Those of you who want to be rich need to learn how.
A successful doctor with his own private firm makes five hundred thousand dollars per year; he has many patients who give rave reviews about him. We're not saying that this doctor is wrong, but what did he do wrong from the standpoint of wanting to become rich?
His career is centered around impressing other people. His high school grades were meant to impress his college of choice; his college grades were meant to impress his master's program of choice; his accounting license is meant to impress potential clients; his work is meant to impress his clients so they recommend and come back to him.
Most would claim that this professional works for himself; he does own his own business. Technically, that is true. From our perspective, though, he works for his clients, not for himself.
Instead of working for his clients, he could build a business. Once he opens his business, he's gone deep into the rabbit hole. He wil be in a completely new world.
Suddenly, he isn't asked for his credentials by anyone. Taking the place of that are people lining up to show him their credentials!
By hiring people, the doctor is creating a business. He might have instead started his private practice, but instead of having the intention of working, his goal could have been to hire people to do the doctoring job for him. It would be his business, not his job.
When you have people working for you, instead of working for other people, money starts to come in without your individual effort.
If you have money coming in without your effort, you will make money indefinitely. Make sure you are on the hiring side of the table, not the "I want to be hired" side. You will create something that works for you indefinitely; therefore, you are going to make money forever.
About the Author:
Cody Scholberg is a recognized expert on long-term wealth and writes at How to Make Money Forever, where you can learn about wealth and the language of money.