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I already said a while ago that I was reading the book called “The Richest Man in Babylon”
I've been sharing lessons I learned from it but I stopped for a while to share some other things like what I learn from billionaires like Warren Buffett.
That doesn't mean I stopped reading the book. I was reading it everyday. I've learned the most vital lesson from it and that is you can't work your way to wealth, you can work your way to having money. There are sports athletes like my favorite being Floyd money Mayweather and obviously I like him because he likes talking about money. He made his riches through boxing and could earn 300 million dollars from a fight.
That is not wealth, that's riches. When you're wealthy you'll be making money with having to actively work. How will that happen, well Money will be working for you.
The book has taught me well on how to grow my wealth. The money has to do the work not me. Nobody can work harder than Money can.
The book is telling me to look for ways to earn more money and build passive income and that's just what I'm doing right now. By spreading out my investments and making good use of the power of compound interest, I will be able to grow my wealth faster. It may sound like a simple advice but that's all that I think I need to know to begin my journey. I always focused on what to do to make money without asking myself, what if I can't physically or actively do it myself at some point. That's when I realized that to be wealthy, we need to channel all the money into systems that'll keep making more money for us whether we're there or not there. I believe that's what people mean by generational wealth.