23 May, 2005

Time & Money

Most of us trade in our time & effort for money, working 8 or 9 hrs a day to bring the bread home. Subscribing to this notion would never make us rich, that's why we remain as the poorer 80% to 90% of the local population. So, you wonder ... how did the remaining 10% to 20% do it?
Well, they worked in lines which allow them to generate passive income, and eventually, attain financial freedom. Briefly, passive income is achieved when one works hard for a period and generates recurrent income for the years to come. However, one would need to thrive hard again to create more bundles of these passive income when the recurrence ends. When one gets smarter, he recruits & trains his downlines to acquire the same passive income, while he gets this payout called "over-riders". This goes on, and more downlines are recruited. Some of these proteges would set up agencies. As time passes, more agencies mushroom, the over-riders increase and c'est tout! Financial freedom is achieved. Others are earning money for you; you'd only need to maintain oversight. Good examples are Financial Advisors, Sales Directors (with network marketing), MLM Operators etc.
At this stage, one could oversee a few establishments at the same time. That's why some big wigs could be chairmen to organisations, non-executive CEOs to others, consultants to several businesses etc. Only oversight is needed. To buy time, one pays money to hire third parties to take over certain functions, for examples, a chauffeur to drive his BMW X5, some maids to clean his mansion, a housekeeper to keep his chateau in order, a gardener to tend to his rose garden ...
Now you get it? For the less well-off, us alike, we exchange time for money, whilst the rich buys time with it.

1 Comments:

At 6:26 PM, Anonymous Anonymous said...

Yes agreed good analysis

JT

 

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