Building Cash Machines
Tuesday, November 3rd, 2009There is this general concept that you must be old when you retire, that retirement at a young age, say thirty, is difficult, if not impossible, for most people to accomplish. This is because retirement, to them, is living off a hunk of cash, which was either saved or inherited.
Unfortunately, this is the worst way to go about retirement. If you want to save up enough money to live on for the rest of your life, it will take almost a whole lifetime! It could take you less, if, for instance, you have a very high salary and live very frugally. Still, though, it takes a tremendous amount of time.
There is a better way. First, look at how you are working. Are you getting anything from it? Sure, you are getting paychecks. But, that is it. Paychecks. You are not building anything! Your strategy is to cut little pieces of these paychecks off every year and put them into an account which someday will have enough money in it so that it will cover the living expenses for the rest of your life.
What if you were building something that whole time, say, your own business, which could be a company or a group of investments? You could retire within a few short years! Why? You will have an income that comes in automatically. This is what retirement is all about; retirement is freedom. Retirement is not living off a pile of money.
To retire rich, all you have to do is keep building these systems. As long as you spend building your business is as rich as you are going to be. Within five years, your business can be large enough to generate an income to live a decent life. If you want a higher standard of living, build a bigger business.
This should be the next logical step after college. You go to school, and then you build an income. Once that is done, you are free. The rest of your life is yours to do whatever you please. Retirement is not about doing nothing. It is about the freedom to do what you love.
Imagine the productivity that would be if everyone was able to do the job he or she loved. If everyone took this route after college, then everybody would be doing jobs that they loved!
Cody Scholberg, an expert author on money, writes about lots of money making ideas and ways to make money with direct sales companies.
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