Rich? Sure, why not? That seems to be the goal for about 95% of the people I run into these days. It’s not a bad goal but not the greatest and I’ll touch on why later in this piece. The issue is of the aforementioned 95% maybe 3-5% will achieve the goal. I’m not saying they are incapable because anyone can achieve it. The reason they don’t or won’t accomplish it is because they don’t understand what the requirements are. There are only 2 ways to become and stay rich. One way is to control money. The other is to generate money. Control and/or Generate. No, controlling money doesn’t mean having cash in hand. And no, generating money doesn’t mean getting a job. So, what do I mean? Let’s discuss…

Controlling money is a great way to become and stay rich. Think Wall Street. You give these people your money, they invest it, take a percentage to do it and then take a percentage of it for managing it. Oh, and this is whether you make money or not. Think about banks. Again, you give them your money and they charge you to hold it, they charge you to move it, and they charge you to withdraw it. Yes, your money. Let’s say you don’t want to work on Wall Street and have no plans of starting a bank. How can you control money? The same way they do. Become them in your way. You can save up a nice amount of money to make available to investors. You can set your rates. Set your requirements. Lend to the people who fit them. Roll the majority of the profits into the original lump sum to be able to lend more at higher rates. Rinse and repeat.

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Generating money is what most of us entrepreneurs are aware of. Think entertainers. They draw a crowd that will spend money. They demand attention and people who pay attention can be sold to. The entertainer makes money from their talent. They make money for promoters and in return make themselves money because of their draw. They make money for businesses and in return make money from their influence. Think innovators. They are problem solvers. People pay to have problems solved. Innovators either discover a void and fill it or identify an existing void filler and improve it. They are paid handsomely for it. They are paid upfront and with residuals. It’s like a continuous thank you for solving a problem. Think business owners. They take all of the risks. They endure all of the upfront stress. They stand alone for years before people get behind them in response to their business’s unlikely but perpetual success. They then get offered loads of credit to continue and expand their profitable business equaling more money. They get people willing to work for their company. In many cases, this enables the company to make 3-10 times the money it cost to hire them. Pick one.

In closing, many of us sit and wonder what it would be like to be rich. We sit and wonder why our job or profession doesn’t make us rich. You may sit and wonder why occupations you feel should make more money does not. Well, hopefully after reading this you ask yourself, does this profession control or generate money to get and stay rich? I wouldn’t suggest chasing money because there is no finish line but those who aren’t rich want to be and those who are want to stay that way. So, I’ll say this, if you aren’t controlling or generating money you will not get and/or stay rich. Whatever number rich is in your head will be fleeting until you accomplish one or the other. The road can be challenging with no direction. Hopefully, I made it a little simpler for you. Good luck. I’m rooting for you.

Food for thought…You do the dishes.
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