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There is an untold truth about money – an actual equation that allows you to build wealth from nothing.
It’s an equation that is hardly taught in schools if at all, and is often overlooked by those who are trying to get rich, or achieve their dreams of “financial freedom”.
In this video, we’ll take a look at exactly what that equation is.
THE MYTHS ABOUT MONEY
Everyone wants to know how to be rich, but when it comes to wealthy people the media and Hollywood have a habit of depicting them as cruel, evil, corrupt, or backstabbing individuals.
But the real question is whether you believe this stereotype.
Most of what you think about money has been influenced by your upbringing and surroundings. If you grew up poor, then you’re more inclined to believe that your financial future will remain under such circumstances. Or perhaps you decided to make it your goal to generate as much wealth as possible so you will never grow up in those conditions again – either way, it’s important to note that we may have false beliefs about money which will not serve you well if your goal is to become rich.
THE EQUATION TO WEALTH
In a capitalist society, you are paid in proportion to the perceived value that you have.
This is very important to understand and can explain many reasons as for why people are paid differently. The cleaner is paid less than the accountant because the cleaner’s job is not difficult to learn, and they can easily be replaced. The accountant on the other hand has spent years studying numbers, and has saved their clients thousands on taxes. The market perceives the value of the accountant to be higher, and therefore the accountant makes substantially more money.
And yet the problem with a job is that your income is time-bound. It requires your time to generate wealth, and only at an old age can you truly reap the rewards of the wealth that you’ve built – if you’ve built any at all.
How then are there millionaires or billionaires at such young ages? What is it about people like Elon Musk, or Jeff Bezos that make their perceived value so high?
The next part of this equation is as follows: if you want money, you must solve problems.
All money runs from this basic premise. If it solves a problem (depending on what the problem is), money will be thrown at it.
If it’s a million-dollar problem, then the solution will make you millions.
If it’s a billion-dollar problem, then the solution will make you billions.
Truth is: if you’ve been chasing money, then you’ve been doing it all wrong. You need to chase problems, and more importantly, solutions to those problems.