How hard is it to get rich?
Because you’re doing it wrong!
Tell me, can you take this nail out with your bare hands?
Maybe, but very hard to do so!
How could you take this nail out easier?
The ONLY way to become rich is by using some kind of business leverage!
Selling your time in exchange for money is called earned income. Earned income would be like the analogy I used above — taking the nail out with your bare hands.
It’s extremely difficult to achieve wealth with earned income!
- Earned income is the most heavily taxed income.
- Earned income pays taxes BEFORE expenses.
- Any disposable income is commonly used to pay living expenses, and not creating wealth.
Wealth is ONLY created through assets.
To achieve riches you need to convert your earned income into business income, passive income and portfolio income.
Here another way to understand leverage:
Hector Quintanilla's answer to How can I become rich?