2d (edited) • General discussion
Why should you focus on leveraging/acquiring Assets to earn your freedom?
No matter where you're from, where you grew up, what your skin color is, what your gender is, what your income level is, we all have only 24 hours per day. Not more, not less.
If you choose to trade your time for money (which is almost any regular job), you can only work so many hours per day.
Sure, you can get paid more per hour by getting a raise or promotion. But in reality, the more responsibility you get at your work, the more your boss will demand from you.
No matter how much you make per hour ($10 or $100 or even $1,000 per hour), you're still stuck in "the Rat Race" (according to Robert Kiyosaki).
So what do rich people do instead?
They escape "the Rat Race" by not trading their time for money anymore. They acquire cash-generating assets instead that help them gain their freedom.
Of course, it takes time and effort to build up to that point, but it's possible with the right systems and patience.
What's an example of a cash-generating asset?
One of the most common examples is rental property. Let's say you take out a mortgage to buy a house that you decide to rent out to tenants. If your bank requires you to pay $500 per month, but your tenants pay you $600 in rent, you will have $100 left in cash flow every month (assuming there are no other expenses).
Thus, your rental property generates you $100 each month as long as you don't sell it.
If you decided to acquire 9 more similar rental properties, you would have $1,000 left each month. Pretty sweet! There is no limit to how much money you can make as long as you keep acquiring more properties.
This is how the rich gain their financial freedom and it's how you can do the same.
Of course, rental properties is just one of the ways to generate cash by leveraging assets.
There are many digital assets that anyone can acquire or build online with the right knowledge and patience that are much cheaper (some are even $0) than the rental property mentioned above.
If you'd like to learn more about the different types of digital assets available, look out for my future posts.
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Why should you focus on leveraging/acquiring Assets to earn your freedom?