Monday, November 16, 2009

Our Free Time & Money

I have come to the conclusion that how we spend our free time has more to do with how successful we will be than about anything else we can do.

Virtually no one gets rich from their job. A job tends to pay just enough to pay the bills, with maybe a little left over (or perhaps just a little more debt). Years and years of this and somehow we expect to be rich, or at least comfortable in retirement? Which brings us to the very problem we have in America today.

The answer I think lies in multiple streams of income. Only when we have money coming in from other sources will we get ahead. The famous book "The Richest Man in Babylon" teaches us to save 10% or more of our income and invest it. Over time the interest can bring more money to us than our job.

So how do we figure out where we can get multiple streams of income? Goes back to how we spend our free time. Spend free time studying people who have already achieved what you want and processes to get you there. You will never learn how to do it sitting in front of the TV.

I recommend reading:

The Millionaire Next Door
The Richest Man in Babylon
Rich Dad Poor Dad

PS Sometimes people think investing or starting a company is risky. I think risk is having only one source of income. One job..... layoffs anyone? That is risky in my book.

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