The Most Powerful Wealth Building Tool
🏠💪📈 I listened to some podcasts which they discussed the most powerful wealth building tool. Do you know what it is? It’s your income. That’s so true. Every investment needs initial capital and most of the time (and for most people), that initial capital comes from your income. As a #buyersagent I have helped hundreds of #property buyers securing property deals and not once have I met a client who does not have a job.
And when speaking to my clients, they all have something in common: is that, they work super hard and save (ie. do not spend more than what they earn). Yes, some of them run a very successful business that turn over 7-8 digits, and some of them are normal employees working for a job.
However, the story is similar that they all work hard and save. They make life sacrifices that allow them to be where they are today with multiple investments, passive income, etc.
So, what does that tell me? It tells me that we must manage our life properly so that we can have longevity in the day work we’re doing. Whether we run our own business or work for someone, we need to ensure that this process runs as long as it can.
This is beyond just #money. How many times have you heard people whose health declines the moment they stop working? Or losing their mind and purpose the moment they no longer do what they used to do with their day job?
For me, earning income gives me purpose. I feel valued when someone pays for my service professionally. People are looking for these big investments and often forget that the biggest investment one can make is on himself.
I can’t control property market. I can’t control what some world leaders will say tomorrow that might crash the market. I can’t control what Labour or Liberal or One Nation policies will be like or what the politicians will do (“I change my position” – if you know what I mean). I can’t control none of that. But I can always control myself. I can always bet on myself to be better, to learn more, to keep ensuring that I am on top of inflation, job security and all.
Some things that I ought to apply in my daily life to ensure longevity in my income earning:
1. Be healthy. Being sick is expensive.
2. No one (especially the government) will ever come to my rescue when it comes to financial position so I must look after it myself.
3. Live under my means. Yes, we only live life once, but please be smart too. There will be time when we can no longer work and what nightmare would it be if we still have 100s of 1000s of debt when that time comes.
4. Don’t try to keep up with the Joneses. It’s just our own illusion and pride that tell us they care about what we wear, what we drive, etc. The longer I live in this world, the more I realise that no one actually cares.
5. Plan ahead for what my 2 decades ahead will look like financially. I’m closer to my retirement age now than to my 20s. I need to make sure I have enough when the time comes.
6. Wealth is no longer measured by what watch I wear, what car I drive. Rather, how much time I can spend with my loved ones.
7. Look after my spouse. When me and my wife work together for a financial goal…wow…that’s super powerful and wealth can really be built.
8. Be smart AND kind. Just like the Bible says in Matthew 10:16, Jesus tells His disciples: “Behold, I send you out as sheep in the midst of wolves; therefore be shrewd as snakes and as innocent as doves.”, one must be both: smart and kind. The world is full of traps. Especially in business, it’s never personal and that it’s always about the bottom line: profit. So, if you’re not being smart, you can get scammed, etc. However, without kindness, your work will be shallow. You can earn all the wealth in this world but being sued by your own children and your family is in disarray and fights among each other. What’s the point?
9. Understand that at work, we are an asset. When the asset is no longer relevant, he will get cut off.
10. Money can’t buy happiness. But being poor can’t buy anything.
I pray and wish for success to anyone who is reading this. May health and peace be with you all.
