By my definition I’m rich, and you ever asked yourself, who’s definition do you use for that. Is it yours or is something that you read or saw somewhere. We often here, to be rich you need a 1M or you need an income of 10k a month in passive income and then you are rich.
But another word for rich is also abundance in money right. So, if you have more money than you need, doesn’t that also make you rich. So for me personally, I only spend $1,200 a month, and I make that from passive income, I’m rich.
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1. The First Thing I absolutely left behind was the 1M dollar, Mark
- The average person can hope to earn about 2-3Million dollars in a lifetime
- Those are a lot of hours and time
- And yes you can make that faster by having higher income skills but it is tough
The reason I stopped chasing it was this:
- I don’t need
- And it’ll happen on its own
My expenses per month:
- $1,200 that’s about $360,000 in stocks to get an income like that
2. Luxury Aspiration
- These usually show in three areas of our lives
- What we drive, where we live, and where we travel too
- I gave up on most of these things because I realized that these weren’t my ideas but just great marketing
House: 130k house I bought in Puerto Rico
Car: $9,000 car I bought
Travel: see family and spend time at mom's house (cheap )
But even planned travel is also less money
- You can travel within your area
- You don’t have to go to where they tell you
- Disney World, and this hotel, and so on
3. Working for Money
- I just recently gave this up
- You see when I work I get wages (that’s working for money )
- But money can be anything that’s fulfilling and gives you purpose ( without making you a dollar )
So if you want to spend your time:
- Writing books
- Raising animals
- Helping children
- Having leisure time to do nothing
- That’s all okay
We don’t exist to work for money and be a slave to it
4. Leverage
- This for me was because of my impatient to save and wait
- I wanted things now
- So I was willing to borrow big and bet big (just let everyone else, with all the fancy numbers)
Today:
- I have no debt
- Things take longer to do
- But it is worth it
5. Pleasing People
- They won’t pay your bills or actually help you
- Listen and think and decide
- Don’t make choices based on what someone else wants for you
Tip:
- In the end, you live that life
- That doesn’t mean ignoring good advice
- But ignore most of it, because most of it is bad advice and cheap
Tip:
- Be careful with lives you don’t want to live and their advice
- Careful of people with no experience or information, sharing their emotions
- Be careful with people and their dreams without data
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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.
20 авг 2024
