Starting a Wealthy Lifestyle!
Here we are on July 7th, 2020 living in what we are lead to believe are unprecedented times. As it was not bad enough that 69% of Americans have less than $1,000 in savings and their only retirement plan is Social Security. We are now dealing with the COVID-19 Pandemic and the Recession/Depression aftermath and high unemployment left in its wake. There should be no doubt in anyone's mind that times are changing whether we like it or not. Those who are willing and able to act and seize the unprecedented opportunities could achieve true financial freedom and security.
Before I really get started on this post, allow me to define a few terms that I will use often for the sake of clarity;
Wealth or Wealthy refers to individuals with a Net Worth over $2M, and Cash Flow over $10K monthly, and the Knowledge to grow and protect their wealth.
Rich or Riches refers to individuals who have a High Net Worth, monthly Cash Flow but lack the knowledge to grow and protect their money. In other words, the rich have lots of money but lack the knowledge required to be wealthy. Being Rich and being Wealthy are to different things. We have all read about Rich individuals and lottery winners who went from multi-millionaires to poverty in a very short period of time.
We have all heard the mantra "go to school, get good grades so you can get a good job and save for retirement." The purpose of our education system is to perpetuate this mindset and societal system. While a good education is necessary the current education system does not provide the required education to enable financial independence, freedom, and security desired by most.
You see, the current education system is designed to condition and prepare individuals to enter the workforce / Laborforce. Our education system conditions and prepares individuals for slavery in the workforce/laborforce failing to provide the needed knowledge and tools needed to achieve the financial carrot dangled in front of them to encourage getting good grades to get a good job i.e. becoming a w-2 employee. It is no secret that w-2 employees are in the highest tax bracket. It is also no secret that more w-2 employees make the more they are taxed. (I will speak more on this another time)
I think the biggest crime against society is the withholding of truth that every individual is an entrepreneur/business owner and that w-2 employment is a business structure. People are employed, not employees. However, because we have been brainwashed/conditioned to think of ourselves as employees/slaves and that w-2 employment was just how we get paid the thought of being an entrepreneur/business owner is difficult for many to comprehend or understand. After all, when most people think of entrepreneurs and business owners they think of a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. After all, that is the textbook answer to what an Entrepreneur is.
The problem is very few individuals, including the gurus, make or recognize the connection between individuals marketing and selling their time, talents, and labor with business. That is due to a huge extent because they don't really understand the meaning of the word "business". Most people are also unaware that there are companies that actually sell other people's labor at a profit. Think about that. How can a company sell other people's labor and be business owners/Entrepreneurs, and an individual selling their own labor not be a business owner/Entrepreneur? The only real difference between the two is scaleability. The individual is only selling his or her labor while the other is selling ten-time more labor in the same market.
The truth is, most of us start out as sole-proprietors marketing and selling our Time, Talents, and Labor in the labor market for w-2 income. Selling our time, talents, effort, and labor in the labor market is a business. Howbeit, it is the least efficient and time-intensive method for generating wealth.
We all start somewhere, and there is nothing wrong with w-2 income. However, The first critical change that has to take place is not with w-2 income but with our mindset. How do we perceive ourselves obtaining w-2 income? Do we perceive ourselves as employee's/slaves to the employer, or as a business selling our labor (a service) to another business? In reality, all transactions are in fact, B2B transactions. We are either buying or selling goods and services to continue operating and improving our business, our livelihood, standard of living, and quality of life.
Are you treating your life like a business? Odds are you're most likely not. Don't feel bad as it's not your fault that you have not been taught that your life is your business. However, That is something you already knew as you don't want anyone else interfering with or sticking their noes into "your business".
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