I spent many years after graduating college trying to grind and make more money, but after years and years, I wasn’t really getting anywhere. I feel businesses my income was stagnant and it seemed like it would take me way too long to become a millionaire. At least, at the pace that I was at so obviously life is a bit different now. I started to make more money and it sounds weird to say it, but I guess I’m a multi-millionaire now. But, it wasn’t until I learned three specific things about money that the light bulb went off in my head and I went from struggling financially to understanding the art of making money.I wanted to share those three lessons with you.
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I remember I thought of money as the scarce and hard to get thing that sort of eluded me and was telling me: “Hey, you can’t catch me because I am not abundant”. I grew up super frugal. I was probably the cheapest person I knew and saving money was at the forefront of my mind all the time. This leads me to lesson number one which was realizing that money and opportunity are everywhere. There is no lack of it in the world. According to the US treasury swift alone handles about five thousand dollars of money flow per day. It’s absolutely insane. How much money there is in the world. If you watch movies, you’ve seen two different sides of how the world lives you have extreme poverty. All the way to obscene wealth, what I started doing was thinking people being this financially successful is actually a thing. We’re talking about unimaginable wealth where spending a hundred dollars on a meal is literally like you or me spending a nickel on a piece of gum. There are people whose income ratios make that true and it’s crazy to think about now. Most of us probably have no desire to get that rich, but it helps to watch people live. These types of lives and think that’s actually possible and there are a lot of people doing it. Then you start wondering what these people do. How are they able to create such wealth and can I learn from them instead of thinking these people are untouchable? Think of how they were. Once likely in your shoes thinking about how they were going to build their own empire. It humanizes the ultra-rich in a way that, at least, inspired me to recreate it to try and make it my own reality.
Today I look at the world differently. It might be too optimistic, but I see money everywhere not literally but more figuratively in the form of opportunity. We live in an age where the internet makes information, education and inspiration available to almost everyone. There are so many ways you can make money nowadays that I’d say today is the best time for anyone to become a millionaire .So, with this lesson, I hope, it inspires you to be optimistic and look for opportunities the money is out there ready to be made. It’s just up to you to be constantly searching there are a million different ways right now that you can actually make money, but you need to get creative actually look for it and get a little bit outside of your comfort zone doing. In fact, I really resonate with the saying do you want to be comfortable or do you want to grow? Because you can’t do both, so a big part of how I was able to become a millionaire was because I invest my money.
Attending school, you get the concept that in order to make money you need to go to school, study for a long time and then find a nine-to-five job where you trade eight hours of your life each day. So, you can make X dollars in return all this education. I feel like led me down a bad path of viewing money as being tied to time or labor which does not need to be the case. That was the second lesson, I learned in 19. The general education board was created by John D Rockefeller and its purpose was to support higher education to create not a nation of thinkers, but a nation of workers. Those are his words and it’s had a lasting impact on school curriculums in the state. We are taught to think, but the thinking is more geared towards being a worker. I’m really not into the whole conspiracy thing at all, but I do think that it’s true that having more workers helps the people at the top who, in my opinion, don’t really need any more help. It’s more the people that are working for two paychecks except one paycheck goes to their boss or company’s profits while the other goes to help pay bills and to pay Uncle Sam.
Those are the people that actually need and deserve help. in my opinion. So, the moment I realized I did not need to be a worker is when my life changed. Instead of thinking that the end goal was to trade, my time for money my end goal became to create income detached from my time. Now I know that sounds like a foreign concept to many of you because it definitely was for me too. I just did not think that it was possible to create income without trading my time for it and that was a huge misconception that I believed most people want to know how much money they can make an hour. For example, let’s say you have a nine-to-five job, your hourly rate by actually dividing your annual salary by the number of hours you work. If you’re a doctor making 250 000 a year that means that you have an hourly rate of about 125 an hour. If you work 40 hours a week if you’re working 80 hours a week that actually cuts down to what 62.5 dollars per hour. Another example: if you are making 50 000 a year that’s about 25 an hour really easy trick. I use all the time is I remove the three zeros at the end of your salary and then divide by two that’s going to give you your hourly wage on a standard 40-hour work week. The reason why I decided trading my time for money was not the end goal because no one that is ultra-wealthy does that they make their money completely separate from their own time. I went looking for that path any commission-based job is a really good intro to this concept because you only make money when you perform. It’s not tied to the number of hours you’re working. It’s more tied to how efficient you are. So, I became a real estate agent and then a real estate broker where I only made money when I successfully sold a house.
Another strategy is starting a service-based business like copywriting and then gradually hiring people to help you out. Hiring is how you move over to not trading time for money. It’s literally what your bosses did when they hired you. Then there’s also investing your money because you leveraged your own money to make money in the background. There are places like Gemini where you can get about eight percent interest on your crypto without doing any work at all. So, fifty thousand dollars invested means four thousand dollars a year in completely passive income. The best part of all is that income is not tied to your time. Also, there’s e-commerce, there’s affiliate marketing – all things that I currently do. If you know where the opportunities exist for detaching money from time that’s where you should be ending up because I for sure know that I don’t want the money that’s tied to my time. Suddenly everything you buy can be compared to how many hours. You worked in order to afford it and it’s like: is this purchase worth X hours of my life being taken away from me? It’s really not a good feeling at all. It makes you not want to buy anything at least for me. Today the only hourly thing I do is one-on-one coaching which I actually try to avoid doing by focusing my time on work that is not directly tied to money. I am able to actually make a lot more money. Once I learned this lesson my outlook on making money completely changed.
The third lesson I learned was a little bit tough to swallow and it really changed my relationship with money. I used to think that your income reflected your worth as a person and I learned that it can’t be farther from the truth. For many years after college, I was wondering why my friends were all far more successful financially than I was. Were they just better people? Was I a loser? Is that why my parents were disappointed in me? I wrongly equated money with self-worth and, as a result, my confidence was very low. I was way too frugal and I was chasing money for the sake of making money. I wasn’t trying to make money by putting out tons of value into the world or helping people. I was just simply doing these things. So that, I can make money so that brings us to the third lesson which was you’ll make more money. If you don’t chase money for the wrong reasons – think of money as a reward for output of value. You’ll get more of it, if you find a way to serve more people or create more change, you won’t necessarily make more.
If you chase it too much, so with this mindset you immediately change your perspective on how you can create more wealth ethically. It brings us to probably the number one way I would recommend you to make more money which is to actually leverage – the internet. The internet allows you to connect with billions of people, and potentially, affect millions of people and that’s why I think it’s the easiest tool to use. If you want to become richer, if you’re working with clients. It widens your potential client base and allows you to tighten up your niche. For example, instead of being a general copywriting company working with a few clients in your city work with super-specialized clients around the world narrow in on copywriting for course careers, for example. The internet is going to allow you to get in touch with these people and you’re being specialized means you can actually do a better job and make more money, so when you solve people’s problems better, you’ll just naturally make more money for me. One reason why my personal brand is so effective is because I can reach millions of people on YouTube and social media offer them value for free and then get paid on the back end. I know it doesn’t sound fair to a lot of people, but I get paid more than the teacher because my audience is not limited to a classroom of 25 students.
That’s really the power of the internet working the same concept explains why internet comedians make more than your local that does comedy at the bar. Also why do e-commerce entrepreneurs make more than the owner of your local convenience store and so on. Another example of creating more value is looking for big problems and then creating solutions for them. You create these solutions not because you want to make money. But because you generally want to make people’s lives easier solutions generate money and solutions with scale generate F you money. It’s just a byproduct of the value you create. Once I realized this I shifted my focus from income generation to value generation, it was a night and day difference. You can use the same concept to change the intent behind your own pursuit of money. I promise you, it will have such a big impact on your ceiling of income. Those are the three money lessons that changed my life and helped me become a multi-millionaire before the age of 30. Your own path is going to be different than mine. It could come faster for you or longer it really does not matter, your financial journey is an important one.
This article is a transcription of a video made by Charlie Chang
Original video: https://youtu.be/v9RbObKY2W
