Summary
- The key to building generational wealth is figuring out how to stop trading time for money.
- When I was 16, I noticed that my sister’s boss was earning over $200 an hour as an Oracle Financial Consultant, which inspired me to explore high-paying careers.
- After realizing I wasn't qualified for that career, I noticed that Monster.com was making a huge sum as a job board.
- I understood that being a middleman, like Monster.com, can be lucrative because they earn money without directly trading their time for it.
- By earning just 1% of what Monster.com made, I saw I could become quite wealthy.
- Important lesson: Many of the wealthiest people earn money through systems that do not require them to exchange time directly for pay.
Video
How To Take Action
I would suggest exploring opportunities where you can act as a middleman. Think about services where you connect people or products without much manual work. For instance, consider setting up an online marketplace or platform like Monster.com did with job postings. You don’t need to create something totally new; see what’s working and figure out how you can take a small piece of that success.
A good way of doing this is to look at industries you are interested in and find gaps where people need help linking up with each other. Create a simple website or use social media to get started. It’s about being the bridge, not the builder.
Next, you might want to focus on automation. Automate simple, repetitive tasks using free or cheap tools that do the heavy lifting for you. This might be setting up automatic emails or using social media schedulers. This saves your time and lets you focus on growing the business instead.
Lastly, constantly think about how you can make money while you sleep. Programs like affiliate marketing allow you to earn a percentage from selling someone else’s products, requiring minimal time once set up.
Remember, the idea is to set up systems where your time isn’t directly tied to income. Little by little, these steps can help build more than just income—they can build wealth that lasts.
Full Transcript
the only way to build generational wealth is to figure out how to stop trading time for money when I was 16 years old my sister was working for Oracle Financial Consultant she was his assistant and he was making more than $200 an hour so I was going to monster.com and finding out the qualifications to become an oracle Financial Consultant but what I realized going through monster.com was I wasn't qualified to become an oracle Financial Consultant I didn't want to wait so when I was on this monster.com website and I saw that this jaw board was making hundreds of millions of dollars I realized that if I made 1% of what they made I would be a rich kid so I ended up going out there and decided to copy monster.com they're a middleman a lot of the richest people are often middlemen they're not people who trade their time directly for money for example with monster.com they get paid every time a company posts a job and in essence they're getting paid every time that happens without spending any time doing manual labor
