Are you worth what you’re paid?

Are you worth what you’re paid? Or are you worth more!?

Money FallingMoney is often a difficult subject for many people. When is the last time you felt good about asking someone how much they make per year? How would you feel if someone asked you that same question? We have unwritten social rules about money, the idea of money and the language of money. In most families and communities money is just not talked about. There is a saying may have and it states that we don’t talk about politics, religion, or money around the dinner table. Why is money so controversial? Why is money such an emotionally charged subject?

One thing is certain, we all need money and one way or another we manage to receive money. Some receive more than others, but nevertheless, all of us have money. The question is… Are you really receiving the amount of money you are worth? One might ask just how much that is, and I think the answer is different for everyone. I am certain of this though, if you had more money available to you, you would think bigger, dream bigger, and there’s a good chance you would also speak your mind more often, write down your goals, engage in more personal develop opportunities, watch less television, help more people, eat better, exercise more, read more often, and all this would result in you just feeling better.

Tom Corley, author of “Rich Habits” illustrates this:

  • 70% of wealthy eat less than 300 junk food calories per day. 97% of poor people eat more than 300 junk food calories per day. 23% of wealthy gamble. 52% of poor people gamble.
  • 80% of wealthy are focused on accomplishing some single goal. Only 12% of the poor do this.
  • 76% of wealthy exercise aerobically 4 days a week. 23% of poor do this.
  • 63% of wealthy listen to audio books during commute to work vs. 5% for poor people.
  • 81% of wealthy maintain a to-do list vs. 19% for poor.
  • 63% of wealthy parents make their children read 2 or more non-fiction books a month vs. 3% for poor.
  • 70% of wealthy parents make their children volunteer 10 hours or more a month vs. 3% for poor.
  • 80% of wealthy make hbd calls vs. 11% of poor
  • 67% of wealthy write down their goals vs. 17% for poor
  • 88% of wealthy read 30 minutes or more each day for education or career reasons vs 2% for poor.
  • 6% of wealthy say what’s on their mind vs. 69% for poor.
  • 79% of wealthy network 5 hours or more each month vs. 16% for poor.
  • 67% of wealthy watch 1 hour or less of TV. every day vs. 23% for poor
  • 6% of wealthy watch reality TV vs. 78% for poor.
  • 44% of wealthy wake up 3 hours before work starts vs.3% for poor.
  • 74% of wealthy teach good daily success habits to their children vs. 1% for poor.
  • 84% of wealthy believe good habits create opportunity luck vs. 4% for poor.
  • 76% of wealthy believe bad habits create detrimental luck vs. 9% for poor.
  • 86% of wealthy believe in life-long educational self-improvement vs. 5% for poor.
  • 86% of wealthy love to read vs. 26% for poor.

Wealthy people just live a higher quality of life! it’s not because of the money, it’s because they have cultivated a mindset that allows them to create wealth in ALL areas of life. You see, being wealthy is not just about money, it’s a way of life that engages the best this world has to offer. It’s about living as emotional, mental, physical and spiritual beings and putting energy and effort into cultivating all areas of our being. Think about it, if you have more than enough money and you no longer have to work, how will you spend your time? Oh, BTW, wealthy people don’t work for money (we’ll discuss that a little later on). Back to the question then, if you had enough money so that you never had to work another day in your life, how would you spend your time. You might set your mind on other things then, maybe you’ll join a gym ad work on getting the body you’ve always wanted, or maybe you’ll start to read all those books you’ve wanted to read or learn how to cook, or take personal development retreats around the world. Who know’s, the world is your oyster, as they say!

What we know about money we learned from our parents and they learned about money from their parents and so on. We did not learn about money in school and unless you were born into a wealthy family, then you were never taught how to think like I wealthy person. You were taught to think like someone who is poor or middle class. The mindset of the wealthy is significantly different than the poor or middle class. We have all heard about the poor person who won the lottery and within a couple years they were once again broke. How does that happen?

The poor person who wins the lottery become rich, not wealthy. They are cash rich after winning, but they are mentally still poor. They think like a poor person, even though they have millions of dollars. They are monetarily rich, but mentally poor. So, what is the difference between being rich and wealthy then?

 

Being rich is measured in money, but having wealth is measured in time.

So the bottom line is this, if your money is not generating more money, then you are rich, not wealthy. If a person has more than 1 million in assets, but those assets are not creating more income, then this person is rich, not wealthy. In addition, Rich is always relative. For example, a person with 30k might say that someone with 300k is rich or someone with one million dollars might say that being rich is having 10 million. Being rich often depends on the lifestyle you live and your liabilities and also your expectations and the way you feel about it. The less money you have the less money you’ll think you need to become rich. The more money you have the more money you’ll think you need to feel rich.In the end, it’s never about how much money you make, rather about how much money you keep.

Wealth is not measured in the amount of money you have, but rather in how much time you have until you have to work for money. This is why we say the wealthy do not work for money. The wealthy build assets that produce money of them. The middle class think in terms of how much money they are earning, but they do not take into account how much time it takes to make that money. The real concern should be how long it takes to make your money and how much time you have to put in to make it. If you’re working 60-80 hours per week and making over 250k per year, then you’re not wealthy. You may be rich, but you spend all your time making money to pay your bills and have no time to enjoy life. So, here is the bottom line: The longer your wealth and assets work for you, the wealthier you are and the longer you can live without working and still pay all your expenses and maintain your lifestyle, the wealthier you are. For example, if your monthly expenses are $2k and you have $10k in savings/liquid assets, then your wealth is equal to 5 months.

The Lessons

  • If you’re rich, don’t be fooled into thinking you’re wealthy.
  • If you’re not already rich, focus on being wealthy and you will be rich in the process.

So now… How much is your time worth?

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