Build Your Money Machine To Earn Money For You Even While You Are Sleeping
What is that Money Machine? Money machine is your investment that is working to earn more money for you even when you are sleeping.
The idea is to build that lump sum amount so big that from the interest alone, you can live the lifestyle you desire without having to work (if you choose not to work). That is called Financial Freedom. At that point, you were able to solve your money problem. You can then solve the other problems with style.
And the good thing is that you can absolutely become financially independent in your life without ever having to make a big amount from your annual income on your job. So give up the illusion that you will have to hit that big score by winning the lottery, publish a blockbuster book, or compose a blockbuster rock song. Instead, decide right now to save small amount each month and make that money to work for you.
In his book Money Master the Game, Tony Robbins said that the first step to financial freedom is to tap into the power of compounding. Albert Einstein once called COMPOUND INTEREST as the most important invention in all of human history!
You can take full advantage of the power of compounding today. You have to take the most important step to change your life right now by deciding to set aside an amount from your monthly paycheck. Pay yourself first by taking out that amount every month and put it in an investment vehicle. This investment should not be cashed out, just keep adding each month and leave it there to work by itself.
So before you spend a single peso from your monthly salary or monthly income, take out that percentage amount you’ve set to build your money machine.
Decide on this number NOW. If you follow the 10-10-10-70 Formula that I am using, 10% to 15% of your monthly will go to your investment. You can add more than 15% of your monthly income, but we will talk about that in another discussion.
Are you going to retire from working by 65 or 70 just like most people? Or are you planning to retire by 50, or even 40?
Your future will be determined by your decision to keep this percentage of your income to build your money machine. Your investment money is an expense today for yourself and your family in your future. Do this, and you will be building a money machine that will take care of you even without you working for the money. Yes, even when you are sleeping.
Of course, even though you gained your financial freedom by your 40s, you will still have to work. But this time, you can do the things that you love, your passion like sharing your knowledge to other and helping them how to do the same. You can do many good things that you cannot do if you don’t have the best resources – the time and the money.
Start building your money machine NOW!
Still clueless? Pick up my FREE financial blueprint here: https://goo.gl/mD2VsN
Please comment below if you like this post.