One essential step toward creating wealth and living an abundant life is to take time out of the money equation.
There is an old saying: Time is money.
We have all been taught to measure money by units of time. The only difference between an employee working for an hourly rate and an employee working on salary is the unit of time.
Whether you are paid by the hour, biweekly, or the year, the amount you get paid depends on the amount of time you work.
It isn't true that time is equal to money. Because time is always inflexible, time is much more valuable than money.
No matter who you are, where you live, whatever your capacities and resources, you have the same 24 hours each day as everyone else even though the amount of money available to you can fluctuate. You can earn a higher salary, lose your job, get a raise, take a pay cut. Whatever the rate of income you earn, whether it is measured by the hour, day, week, or year, you have only 24 hours day each day and 365 days each year.
Ever since I read Robert Kiyosaki's Cash Flow Quadrant, I have been fascinated by the mindset difference between entrepreneurs and employees.
According to The Cash Flow Quadrant, people are employees, self-employed, business owners, or investors.
Kiyosaki groups employees and the self-employed on one side the quadrant and business owners and investors on the other side. What kind of mindset shift is necessary for employees and the self-employed to move from the left side to the right side of the quadrant?
This raises the question: How does someone on the employee/self-employed side of the quadrant begin to think the way entrepreneurs think?
The primary mindset difference between the left side and the right side of the Cash Flow Quadrant is to take time out of the money equation. As long as you trade time for money, whether you are working as an employee, or working in your own business, you have not made the fundamental mindset shift of an entrepreneur.
Employees and Self-Employed people trade their time for money. No matter how much you earn per hour, per month, or per year, the amount of money you can earn is limited by the fact that time is limited.
The bottom line is: No matter how much you get paid per unit of time, time is always the limiting factor on the amount of income you can earn.
When the money you can earn is no longer limited by the unit of time you work, the money you can earn is potentially unlimited.
Would you like to make more money? Find out how you can invest in real estate with No Money Limits. Learn how the money making secret is revealed in a real estate
investing book about the world's most popular board game. This and other unique content 'wealth' articles are available with free reprint rights.
|
