Only 2.37% of People Know These 5 Money Truths…
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Truth #1: Saving Won’t Make You Rich
The world’s richest people don’t save money - they invest
Money is a tool and used are only useful when in use
Dead money (in banks) earn little interest
Invested money can make a ton
So, where do you invest?
The world’s richest people don’t save money - they invest
Money is a tool and used are only useful when in use
Dead money (in banks) earn little interest
Invested money can make a ton
So, where do you invest?
Take that saved money and invest it into:
1. Stocks
2. Bonds
3. Real Estate
4. Businesses
5. Crypto
Focus on investments you understand and have properly researched
Doing so will offer you the best returns
1. Stocks
2. Bonds
3. Real Estate
4. Businesses
5. Crypto
Focus on investments you understand and have properly researched
Doing so will offer you the best returns
Truth #2: Putting Money In The Bank Isn’t Risk-Free
Growing up, we were told the bank is the safest place for our money
This makes sense until we open our eyes to the real cost of banking
Banking is literally robbing people blind
Here’s how…
Growing up, we were told the bank is the safest place for our money
This makes sense until we open our eyes to the real cost of banking
Banking is literally robbing people blind
Here’s how…
Banks rob you by:
1. Offering you pennies for your deposits
2. Charging obscene bank fees
3. Selling you services you don’t need
Here’s how to bank smarter…
1. Offering you pennies for your deposits
2. Charging obscene bank fees
3. Selling you services you don’t need
Here’s how to bank smarter…
First, limit your deposits to just money you need to live plus an emergency fund
Second, shop banks until you find one that meets your needs with minimal costs
Third, take on no extra services without a proper cost-benefit analysis
Second, shop banks until you find one that meets your needs with minimal costs
Third, take on no extra services without a proper cost-benefit analysis
Truth #3: A Higher Income Doesn’t Mean A Larger Net Worth
Jeremy makes $90,000 a year, with a net worth of $10,000.
Luke makes $35,000 a year and has a net worth of $180,000.
So, who would you say has more wealth? Luke of course!
But, how did he do it?
Jeremy makes $90,000 a year, with a net worth of $10,000.
Luke makes $35,000 a year and has a net worth of $180,000.
So, who would you say has more wealth? Luke of course!
But, how did he do it?
Wealth is built based on the difference between your income and expenses
Jeremy made more but spent more
Luke made less but spent significantly less
Wealth is not how much you make
Wealth is the proportion of money you have compared to the money you need to live
Jeremy made more but spent more
Luke made less but spent significantly less
Wealth is not how much you make
Wealth is the proportion of money you have compared to the money you need to live
Truth #4: You Can Only Do So Much With Your Own Two Hands
A baker starts his business, and he bakes 5 cakes per day.
It costs him $50 to bake a cake, and he sells each one for $100.
His profit is $250 a day.
He’s only one person so his income is limited. But…
A baker starts his business, and he bakes 5 cakes per day.
It costs him $50 to bake a cake, and he sells each one for $100.
His profit is $250 a day.
He’s only one person so his income is limited. But…
The baker hires an extra set of hands
She makes 5 cakes/day at $75 cost (ingredients and labor)
Total profits from new staff: $125/day
Total profits = New staff ($125) + Baker ($250) = $375
Lesson: More hands, more money
She makes 5 cakes/day at $75 cost (ingredients and labor)
Total profits from new staff: $125/day
Total profits = New staff ($125) + Baker ($250) = $375
Lesson: More hands, more money
Truth #5: Working Hard Isn’t As Good As Working Smart
We are all told to “work hard”
Few tell us to work smart
Let’s use the baker example to explain why working hard keeps you broke…
We are all told to “work hard”
Few tell us to work smart
Let’s use the baker example to explain why working hard keeps you broke…
Baker doing all the work himself
Profit $250
Baker hiring staff and working smart
Profit $375
If hard work led to riches all manual laborers would be filthy rich
Profit $250
Baker hiring staff and working smart
Profit $375
If hard work led to riches all manual laborers would be filthy rich
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I write a thread a week on:
• Financial management
• Building generational wealth
• Investing for success
Follow me for financial wisdom that will change your life forever:
@Adam_DelDuca
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