I try, at least once a week, to cover a ‘bigger idea.’ This is one of those bigger ideas that will enable you to build and grow your wealth faster.
What I’m about to tell you is probably one of the most important concepts to understand, if you want to build your wealth.
It’s going to sound dramatic, but it’s true. Here it is:
People, companies, and governments are out to steal your money. They will do whatever it takes to steal what is yours. It’s your job to ensure that you keep what belongs to you.
…Ok… that may sound ridiculous… but hear me out. I’m going to give you three separate examples of how your money is taken from you. #1 People.
All day long there are people trying to take your money. There is the guy selling you newspapers on the street corner. The woman selling you flowers in the market place. The kid shining your shoes on the sidewalk.
All these people are trying to take your money.
These people aren’t evil or anything – in fact, these people are hustling. They are working hard and they deserve what they earn. But, they are taking your money.
The cell phone companies, restaurants, and any type of business is trying to take your money.
Do they provide good services? Most of the time – that’s why we pay for them.
But, sometimes we pay even though we don’t really want to. We just pay because it’s habit or because we feel like there isn’t any other option.
Or sometimes we pay for fees and services that we aren’t even aware of. (Ever pay a cell phone bill or restaurant bill to later find that you were over charged?)
I’m not saying these companies are evil – just that they are happy to take your money.
We all know this one. Especially if you are a small business or home owner.
It feels like every time we turn around we are confronted with a new fee. A tax for this, a tax for that, an assessment for this, a surcharge for that…
These governments aren’t necessarily corrupt(?), but instead that’s just how things have evolved.
So what’s my point with all of this…?
You will find one consistent quality with self-made wealthy people – and that’s that they question almost everything.
They don’t simply say, “Yeah, I’ll just pay this bill without looking.”
They look at everything. They are very observant, and they are naturally skeptical.
So here is a tip to build your wealth:
Don’t let your money be taken by those who will take.
Because, I can assure you that if you are loose with your money, there will be plenty of empty pockets to fill.
Next week, I’m going to cover the bond market. This sounds extremely boring, I know. But, what if I told you that the bond market is the same thing as the 2008 housing market? Does that make you interested? It should.