Why it is Easier to Get Rich than to Lose Weight.
Getting rich is easier than losing weight. Period.
But in order to make this point, we have to declare some ground rules. Liposuction is an easy way to lose weight (minus the pain and all) and winning the lottery may seem pretty easy to some people. So lets remove these options and clarify.
It is easier to grow rich over time than it is to lose and keep off weight over time.
|Everyone's least favorite appliance.|
How can this be?
When it comes to getting rich, the younger you are the greater advantage you have. Time is money. But time is only money if you spend your time wisely. Video games are a poor use of time. Reading this blog is a GREAT use of your time.
So you work 8 hours a day lets say. May sound hard but you get used to it like all humans can adapt to anything given enough time. Then you take 10% of your pre-tax income and invest it into an income producing asset.
Lets say a dividend paying stock at 5%. You contribute to this every week automatically because you set up auto-withdrawal with your bank and now you don't even notice it is gone. In addition, your stock is paying 5% a year growth, while also going up in value over time because that is what good stocks do.
You are smart and do not look at this stock every day, or even every week. You may even forget about it from time to time. But it doesn't forget about you, and it keeps growing, keeps paying a dividend, and you keep adding 10% of your income to it. As you work more and get raises, bonuses and birthday checks, you keep adding 10%.
You are literally making money while you sleep.
|Gus dreaming about some cash flow|
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I've got great news for you, though. If you first develop the discipline it takes to get and stay rich, that same discipline can be applied towards any future goals as well.
First figure out what it is you want. Keep this desire in your mind at all times. If you want your passive income to exceed your expenses, determine why you want this.
This will make it much easier for you to not only set your goals, but to keep them.
As your passive income increases, remember: Do not increase your expenses. This is VERY common and is why most people never achieve economic freedom. Their income goes up, so they get a new car payment. Keep your expenses low.
However, if your main goal is to increase your passive income so you can buy a nicer car, then you will. But if your goal is to live the life you choose, which means only working because you want to and not because you have bills to pay, then keep your bills low.
So in conclusion:
Get educated (this blog plus Recommended Reading)
Get rich (invest in income producing assets)
Get healthy (eat well and be active)
We live in the only country in the world that declares every individual has the unalienable right to pursue happiness, so why aren't you?