Create your own wealth, Is it me, or is the world splitting into two tribes of workers? On the one side, the 9 to 5 – salary slaves have to sell their souls to keep getting paid. On the other, business owners and the self-employed – people who work for themselves, from anywhere, and take control of their time. If you had a choice, which would you choose?
create your own wealth
Clearly, 9-to-5 is the enemy, something to renounce, escape and eschew wherever possible. Admitting that you go to work gladly, that you love your coworkers, and look forward to the daily grind is a bit like saying you like to kick puppies.
Falling into the trap of a 9–5 job you hate is easy. Getting out is the challenging part. But if you have made up your mind that you never want to work for a boss again, and then you can choose to transition out. Here’s how to really quit your 9–5 job if that is your goal.
Start with an interest.
If you want to quit your 9–5, then you’ve got to go small. Replace the mythical word of purpose with interest.
What are you interested in? Some people are not sure. An easy way to find out is to write down everything you did this week. Where was the bulk of the time spent? There’s your hint. What do you get pissed off at when you miss it or can’t do it?
3 Simple Steps to Creating/Building your own Wealth
Step One: Make Enough Money
This is the most fundamental step. Like they always say, a small amount regularly saved over time can eventually add substantial wealth. But this doesn’t cover the other sides of the story: are you making enough to save in the first place?
Keep in mind that there isn’t so much you can cut in costs. If your costs are already cut down to the bone, you should look into ways to increase your income.
There are two basic ways you can get income through monthly earning and passive income. Earned income comes from what you “do for a living,” like your 9-5 job, while passive income is derived from investments or side hustles, create your own wealth.
Finding ways to earn more money is the answer to saving and creating your own wealth. If you have the skills and desire to start a side business, great—you have the potential to earn a ton more.
Step Two: Save Enough Money
While you may think saving money is relatively straightforward, one in five persons has nothing saved at all. So even though spending money is arguably more exciting, you should consider saving money a priority. And there are plenty of ways to save money that don’t involve making sacrifices, either. Sometimes the best way to start saving money is to become more aware of your finances and spending habits. With an understanding of your budget and your true needs, you may start putting away more money than you ever expected.
A good rule of thumb is to save at least six months of living expenses. This prepares you for any financial setbacks, such as a job loss or health problem, or to start your own business.
So that means that saving to start a business or building wealth is solely up to you. But that is a wonderful thing because that means you control your destiny—and being in control of your destiny is an awesome place to be.
Step Three: Invest Your Saved Money Appropriately
You’re making enough money and saving enough, but you’re not investing in something that can give you high returns, e.g., putting your money in the regular savings account at your bank. If you want to build your wealth and stop your 9-5 job, you have to take on some risk and invest in sectors like real estate or the stock market. So how do you decide on what to invest in?
Staying away from your 9–5 job requires three investments:
- An investment in yourself. The first thing you need to do is invest in yourself to learn and develop your skills. The moment you stop learning, you stop growing. Learning new skills actually put you at the edge in whatever business you want to go into. Growth is learning. Maintaining what you’ve built is disrupting yourself consistently.
- An investment in assets that make you money. Every type of investment has its upside and downside. Your risk tolerance, level of understanding of certain markets, timeline, and reason for investing will all influence what the best investments to make are. Choose your poison: stocks, bonds, gold, digital currency, or real estate.
If you save your money rather than invest it, money printing by governments, inflation, and the temptation to buy the stuff you don’t need will make you go backward financially — and eventually, right back to your 9–5.
The Time Is Now
Don’t read any more articles if you identify as someone that thinks of their 9–5 like a prison. It’s time to climb the prison walls and do work related to an interest you have.
What’s holding you back from escaping the 9 to 5 job? Is it the money? The fear of uncertainty? The desire to remain unhappy? They say money can’t buy happiness, so what can buy happiness? Earning an alternative living outside of a 9–5 job has changed my life. It has given me the time and the ability to do what I want. Start planning on leaving that 9-5 job you hate. It will be the best thing you ever do.