Here are the 6 things that are currently keeping you poor both financially and in the most important capital of all—freedom.
The six things that are keeping you a poor non-nomad with tears in your eyes:
You Are Relying Solely On A Paycheck
You Are Living Like A Dead Fish
You Have A Poverty Mentality
You Are Playing By The Wrong Rules
You Are Relying On A Big Final Pension Payout
You Are Convincing Yourself That There Is More To Life Than Money
1. You Are Relying Solely On A Paycheck
No one has ever got rich by solely living on a paycheck, even the shifty-eyed bankers rely on excessive bonuses to buy their ivory back scratches. Check out Creating Multiple Steams of Income For A Super Sexy Life Of Wealth if you want to know exactly why.
By living on a paycheck, every year you are working from January to mid May and beyond for the government. Yep, for those first 5 months of hard slog, you are actually breaking your back for the government. All hail our glorious leaders.
Earned income, such as that from a paycheck, is the highest taxed income there is, up to 50% for some people. If you are only relying on a paycheck for income then your money is not working hard for you and you will never become rich.
Money Medical Patch Of Awesomeness: Get your lazy money to start working hard FOR you. Focus on building multiple streams of income that generate passive and portfolio income. This is income you are not selling your time on a per hour basis and is the lowest taxed income of all. The life of a smiling, happy and wealthy nomad is built around this core cash-flow.
2. You Are Living Like A Dead Fish
If you have never read my article “Dead Fish Economics” you should. Not because I wrote it, or even because you have a slightly worrying obsession with dead fish. You should read it because it explains the three financial equations that people live by in life, and you WILL be living by one of them. Honest, scouts honour.
Money Medical Patch Of Awesomeness: If you are living like a dead fish or a floundering fish, you will never be rich. Check out how you are doing by reading the article and then start living more like a Happy Fish. Simple really…sort of.
3. You Have A Poverty Mentality
If you are big on saving, or squeezing the last penny out of each pound, or you think that the rich are somehow exploiting people for that money, then you are living with a poverty mentality mindset.
STOP THIS NOW. Seriously, right now. Please.
Money is not the root of all evil, the world of money is not a zero sum game, and you are not becoming richer by being more stingy with your cash.
To be rich and have the option of a nomadic lifestyle, you need to know how money works.
Money is like an electrical current which dies if it stops moving. If you hide it under the bed, inflation will eat it, it is only powerful when it is moving or, in other words, being invested.
The money game is not a zero sum game, there is more than enough money in the world. If you have more of it this does not mean someone else has to have less so don’t use this as an excuse for not living your dreams.
Being economical and stingy with your money will not make it multiply. Investing smartly and being generous will, AND will also create a richer life for all involved. More smiles all round.
Money Medical Patch Of Awesomeness: Get out of your poverty mentality, it is keeping you poor. Start to develop your Financial Intelligence and make money flourish in your hands like a well-watered little money tree of greatness.
4. You Are Playing By The Wrong Rules
You know there are a different set of rules for the rich than for you right? You didn’t? That’s unfortunate because you have been playing by the wrong set my friend, and it is keeping you poor, and dreams of distant shores, sandy beaches, and excellent surf will remain forever just out of your reach.
Those that understand the game of money, investing and wealth are playing a totally different game to you. It’s a better game, you don’t have to work as hard and it lets you experience the very best the world has to offer.
Do you want in on this game? Yeah, I thought you might. Well there is a price and that price is your time and effort in learning the game and the rules that govern it. It will take time, a lot of boldness and calculated risks but it can be done…by anyone.
Currently, you are playing the wrong game, and you are poor because of it. Lets change that.
Money Medical Patch Of Awesomeness: It’s your financial intelligence that will make you wealthy, so it is your financial intelligence that you need to develop to understand and play by the other rules of the rich. Start now. (Reading is a great first step.)
5. You Are Relying On A Big Final Pension Payout
Do you really know what a Pension scheme is? It’s a Ponzi scheme, a glorified pyramid scheme. Bernie Madoff went to prison for running a Ponzi scheme? He did, but pensions are the government’s ponzi scheme and the government can’t go to jail because, for starters, they won’t all fit. (This is open to debate.)
All the money that you put into your pension at the moment is going to pay the people who are retiring now. It is not being saved for you.
That’s okay, the next generation will pay for me though, right? Wrong. There will be less of them than there are of you when you retire and the money just won’t stretch. No more margaritas at 65 unless you take some drastic action.
But the money is invested and increases over time so we should still be okay? ‘Fraid not. The money should have been invested but it was actually used to pay for government spending. There is no investment in the pot anymore. Criminal but true.
So by the time I retire I won’t get paid? Correct, who knows if the next generation will get paid in the next 10 years.
Money Medical Patch Of Awesomeness: Pensions are a thing of the past. If you want to retire early you need to have your own sources of income and revenue and to do that you have to increase your Financial Intelligence so that you can create those income streams.
6. You Are Convincing Yourself That There Is More To Life Than Money
That is very true, there is more to life than money, but if you are using this as an excuse for why you are not rich then you are deluding yourself, and you will never be able to escape the rat race and pull on ya swimming trunks.
There are unhappy rich people and there are unhappy poor people, but having been and having talked to people who have been relatively rich and very poor in their lives, please trust me, being poor is no fun at all. You get to do a hell of a lot less surfing.
Money is an enhancer of people, experiences, opportunities and life. It won’t buy you happiness, but it will give you the freedom to travel, to be generous, to experience new things, to have free time and to enjoy life more.
Money Medical Patch Of Awesomeness: Money is important in life, so stop deluding yourself and start learning how to play the game of money so that you can have an enriched life. Here is a good place to start.
See you all on the beach.