Wealth Secret Of The Day – Keep Your Foot On The Gas

Wealth Secret Of The Day - Keep Your Foot On The Gas
Image – Pixabay (PD)

Let’s just admit it: The #1 reason why people want big, fast wealth is so that they can take their foot off the gas.

Stop working and start “having fun”. Chill. “Enjoy life”.

Trouble is, as soon as you take your foot off the gas… the car starts slowing down.

The moment you stop getting richer, you are getting poorer. It doesn’t matter how fast you were going, if you take your foot off the gas, it won’t be long before you will come to a stop. Similarly, it does not matter how big a pile of cash you have; unless you continue earning faster than you are spending, it will shrink with astonishing rapidity until there is nothing left. Assume that this always happens – because it does, trust me.

Oh, I can promise you that this is true! Ask any wealthy or “once wealthy” person!

You can maximize the ability to “keep on rolling” with financial forms of cruise control i.e. assets which will continue to earn you money after you stop working.

The best work, from the entrepreneur’s point of view, is in fact that which develops assets and systems which will earn you money and continued revenue in the future.

Then, and only then, can you ease up on the gas…. but that doesn’t mean you can take your eyes off the road or your hands off the wheel! Even those who have strong investments and good passive income, need to keep an eye on things. Assets need management, observation and skillful handling. With good assets you can make money while you sleep – but there are very few who will “never have to work again”. Even the rich need to put enough energy into asset management to make sure they are still earning more than they are spending…

“Passive income” is a nice dream and there are some forms of passive income that are truly “low maintenance” – however these tend to have a lower rate of return. You might as well assume that there is no such thing as a zero-maintenance form of income.

Yes, you might continue to get (for example) royalties from creative work of the past, however this should be seen as a bonus rather than something that you can rely on entirely.

Stay hungry. Hungry enough to take things seriously. Hungry enough to want the best for yourself and to be prepared to do what it takes. Hungry enough to keep your foot on the gas.

Many people fail to get rich because they are looking too hard for the short cut, when the straight road will get them there, if they are just prepared to make the effort. They don’t want to work – and (surprise surprise) they end up broke.

So no matter what happens, assume that you will still need to move forward. If you wait around for success to come or for opportunity to fall in your path, it probably won’t. “Success doesn’t come to you, you go to it.” Getting rich may involve periods of great struggle and difficulty. It is ironic that getting to the point where you have absolute freedom may be the most arduous thing you have ever done. Some people literally kill themselves trying to get there!

Sorry to bring the bad news to you readers of the Four Hour Work Week. It’s a fascinating book and I love the idea of “life hacking” – but it is somewhat unrealistic – because although autopilot income may be the goal, the means to set that system in motion is probably going to involve a period of intense hard work. 4 hours per week? How many of the millions of readers of that book actually achieved it? And do you think Jeff Bezos, Elon Musk or Bill Gates ever worked a 4 hour week in their lives? Sorry but no. 😉

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