Last Updated on Apr 15, 2020 by James W
Here’s the challenge when it comes to making money. Whether you stack shelves in a supermarket or perform open heart surgery – the vast majority of us are swapping our time for money.
Whilst an open heart surgeon is able to charge a lot more for each unit of their time than someone stacking shelves in a supermarket but both are restricted by the same principle that keep them stuck on a financial treadmill known as the rat race.
See, there’s a fundamental ceiling when trading time for money in this way, as there’s a limit to how many hours there are in the day (i.e. how many units of time you can sell) and there’s a limit to the market value of each unit of time you trade.
Most people focus on furthering their career by seeking ways to charge more for each unit of time they trae, as naturally the amount you are able to get is contingent on the value you provide a third party. It’s understandable that an attorney will charge more than a janitor because the outcome they facilitate has a higher value to most people.
The challenge, however, is that both the janitor and the attorney are stuck on a financial treadmill of trading time for money and if you stop walking your income stops.
The wealthy understand the power of leveraging assets and having their money work for them rather than them working for their money. The fundamental principle with regard to this is to become an investor rather than an employee or self employed business owner.
Here are two simple ways you can take the plunge into becoming an investor so that, in the long term, you can have your money do the hard work for you so you can enjoy a life of financial freedom with more time to enjoy the important things in life.
INVEST IN THE STOCK MARKET
Investing in the stock market isn’t rocket science but if you are struggling there are a number of trading courses you can take, many of which are free, or you could follow the advice of a particular trading guru in order to model their trades which can be a less risky way to begin trading, though even the most acclaimed gurus don’t always get it right, so it’s important to retain reliance on your own judgement.
INVEST IN CRYPTOCURRENCY
No doubt you’ll have heard of the boom in the value of cryptocurrency in recent months. Indeed, many people wish they had invested a few years back and turned one thousands dollars into several hundred thousand, but hindsight is a great curse in many ways, as what you need to focus on right now is what’s going to be the next big thing.
Could cryptocurrency be an ever expanding trend, or is the bubble going to crash, nobody knows – but it’s interesting to consider that those people who turned a few thousand dollars into a few hundred thousand dollars would have asked themselves that exact same question.