🌳 This Is Keeping You From Becoming Rich

QUOTE OF THE DAY

In simple terms, Fear keeps us focused on the past or worried about the future. If we can acknowledge our fear, we can realize that right now we are okay. Right now, today, we are still alive, and our bodies are working marvelously.

YOU CAN’T GET RICH WHILST WORKING A 9-5

If you have the ambition of ‘more’ in life, if you want to live that rich life full of freedom then you need to understand that working a Job or a ‘9-5’ won’t allow you to achieve that. It will keep you constrained in chains of time freedom, location freedom and pre-set rules that you have to play. Notice how financial freedom wasn’t mentioned and thats because you can make a lot of money from working a job but the problem is that the money your paid has a certain rule-set attached to it that you have to play by.

The rule set

You see, working a 9-5 no matter how much money you make from it you’ll only be able to keep a certain amount of it. You get taxed before you even receive your paycheck and those are pre-set rules that you can’t alter. Depending on where you live you can lose anywhere from 20-45% of your income just from tax alone therefore you’ll never be able to explore true freedom if you’re not in total control of your finances.

On the other end of the coin, you have those that run a business. Those people pay themselves first which means when they make money before paying taxes or any bills they actually pay themselves typically in investments. Whereas someone working a job before they even get their paycheck given to them, Uncle Sam the tax man has already taken a cut of their income and you have no control over that whereas owning a business you only pay tax on the net profit which means after paying everyone all the business dinners after buying that Mercedes C-Class (for the business) you then pay tax on what's left over and if on paper you've made less money then obviously you pay less tax regardless of the C-Class you bought.

It almost seems unfair, because it is unfair. Why do some people get to play by different, more rewarding rules?

You can control the rule set too

The ‘rule set’ that we keep referring to is more commonly known as laws that we live by and at the end of the day no one can manipulate laws unless they are of higher power. However, you don’t need to manipulate any laws when you understand how the game is played. Those that ‘don’t play by the rule set’ don’t have the power to change laws but they know the loopholes within them.

Which means to be able to not play by the rules all you’re missing is knowledge, that’s where you’re losing out.

You can get this information from books, courses, anything online! Even if it doesn't seem like something important it can put you in a whole new category of wealth in the future.

ACTIONABLE NEXT STEPS:

Understand that those that understand the rules don’t play by them.

TAKEAWAYS:

Those that have to play by the rules will forever be chained

BOOK OF THE WEEK ⤵️

The book of the week is The Psychology Of Money by Morgan Housel, referred to as ‘The book of Timeless lessons on wealth, greed, and happiness’. Its a book about your mind, and how it thinks about money, savings, expenditure and investments. A must read if you want to enhance your understanding of money (and enhance the amount of it you have!) Check it out HERE

CREATOR OF THE WEEK ⤵️

The creator of the week is @Jatznaran, a UK based finance creator sharing tips on money, business, investing, and also content around general self improvement. He shares tips, tricks and his experience as an entrepreneur whilst teaching you how to become one yourself. Check him out HERE

LESSON OF THE DAY ⤵️

Life goes faster than you think.

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