Why The Rich Dont Work For Money
If you want to be rich then don't work for money. The rich don't work for money and yet they still get richer and richer. Most people work for money and because they work for money they remain poor or average and fail to become rich. I want to share with you why the rich don't work for money and how you can act like the rich and become rich also. Have a look at your everyday person. They go to work 9-5 to work for money. At the end of each month they receive a paycheck. But each month they need to go back to work because they need to receive their paycheck in order to survive. If they stop working they can't afford to eat. Each month they don't get any further ahead and they are still required to work in order to survive. Now let's look at the rich.
They don't work for money, they work to acquire assets. Assets are things that put money in your pocket whether you work or not. Rich people work to build businesses, or to buy real estate, or to buy investments. The more they work the more their assets grow, and as a result their passive income (income they don't have to work for) goes up. Every day they work their assets grow and their passive income goes up, meaning they don't have to work to survive. Their passive income from their assets will fund their expenses, giving them more time to spend getting rich instead of working for someone else. The rich don't work for money because money doesn't make you rich. A lot of people think money is what makes you rich but it's not. If money made you rich then why do so many people who win the lotto go broke within 5 years. Money does not make you rich in and of itself, it's what you do with your money that makes you rich. Do you want to know what the rich do with their money? The rich buy assets that generate them passive income.
The rich buy their assets first, then they use the passive income from their assets to pay for their expenses (like their food, their mortgage, their cars, their fun and entertainment). The rich don't need to work for money, because their assets generate them money anyway, so instead they work to acquire more assets so that they can become richer and richer. I hope I haven't confused you. Let me make it simple, as asset is something like a rental investment property, where there is more rent coming in than there is expenses going out (like mortgage, rates, tax, management etc). This means their is money left over every month that goes into your pocket. Another example of an asset is a business where you don't have to work in it. Any McDonalds you drive past is an asset to its owner. The owner hires managers to run the day to day management of the store. The managers hire and fire staff and run the shop.
The owner is the one that gets all the money at the end of the day, even though they didn't have to work for it. Rich people work to get assets like real estate and businesses, they don't just work for money so they can get by. It is a completely different attitude and though pattern and that is why the rich get richer while the poor stay poor. The rich have better ideas and a better strategy. Whenever the rich work they generate passive income that lasts their lifetime, so when they stop working the money keeps coming in. When the poor and average stop working the money stops. If you want to be rich then you need to stop working for money. You need to work to acquire assets that generate you passive income. Maybe you could start a business in your spare time, or maybe you could save some money and invest in some positive cashflow real estate. As soon as you start acquiring assets getting rich becomes easy, because you no longer have to work for money just to pay the bills. So start getting financially educated so you can start acquiring assets.