Thought-provoking article on Seven Differences in Thinking Between the Rich and the Middle Class. While I don’t love them referring to the middle class as “the masses”, there’s some good food for thought here.
I think the most relevant point for me is moving from selling time to selling ideas. I have a finite amount of time; when I spend it working, I can’t spend it doing something else. So yes, I’d like to raise my per-hour work rates. That helps a lot. But more importantly, I’d like to trade my ideas for money, not my time.
That’s the idea behind the residuals project. So this article is nice motivation! It can be really tempting to put my book, my business, my ebook, and lots of other ideas to the side to free up more time for hourly earning. But, beyond my essential income needed to live, it’s not a wise idea. It’s not a “rich” idea.
Because I do see money as freedom. And if I want to do big things with my life, more freedom would help.
What do you think about this article? What other shifts in thinking help you stay on the right path when it comes to making financial decisions?
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