Mind is a powerful thing, but a strong mind can also be a dangerous thing — would you agree?
In what way? Well, perception is reality, and those of us with strong minds and powerful imaginations are often guilty of convincing ourselves of truths, which only are such in our own minds, not the reality. Seriously — the smarter you are, the more prone you are to doing what my mother coins as looking for brains up your arse.
There is one concept, however, which is difficult to rationalize the wrong way: TIME. Time is kinda simple in that you have it for only as long as you do — and then you don’t. Simple, isn’t it?
The 20 Best Books for Aspiring Real Estate Investors!
Here at BiggerPockets, we believe that self-education is one of the most critical parts of long-term success, in business and in life, of course. This list, compiled by the real estate experts at BiggerPockets, contains 20 of the best books to help you jumpstart your real estate career.
The Intersection of Time and Money: The Time Paradigm
Simple concepts here. The synthesis of time and money is by definition a moving object. Why? Because you don’t stand still relative to time; you get older all the time, and unless your money is keeping up, the pain is just around the corner.
Guys, there are only two options when it comes to time and money:
- Time is working for you
- Time is working against you
The reason the rich are getting richer and the poor are getting poorer is precisely because time is helping the rich and hindering the poor. What’s more, it is indeed an automated process in both directions! And it doesn’t matter how much money you earn in your job. In fact, this has nothing to do with earned income.
I was talking to a good friend about this. His name is Serge Shukhat, and you should know him from Podcast 60. Well, we are friends for a reason — we understand each other. This doesn’t mean that we always agree with one another, but we always understand each other. Well, in that conversation Serge introduced me to the term Time Paradigm. I knew right away what it was and instantly could relate. Time paradigm is why I do what I do, why I’ve lived for a decade the way I’ve lived… looking to reverse the time paradigm!
Is Time Working For or Against You?
Answer the following questions:
- Do you sign your own paycheck?
- Is your paycheck automated?
- Is your paycheck inflation protected?
If you answered NO to any of the above questions, then time is working against you — period! What this means is that you are a rat in the proverbial rate race. I hope you remain healthy enough to pound the ground — and punch the clock.
Reversing the Time Paradigm
This goes back to the question of what is financial freedom? The answer to all three questions must be YES. In other words, you must position yourself to be in control of your income and wealth, you must position both to be automated to a great extent, and both must be hedged against inflation. Easy!
Remember, time doesn’t stand still. As you go through your day today, ask yourself: is this thing that I am doing giving me more control of my money, is it automating my income-generation, and is it hedging me against inflation?
Is time working for or against you? Do you agree with my assessment of the Time Paradigm?
Leave your comments below, and let’s discuss.