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Time Is NOT Money | We Need To Change Our Thinking | Time > Money
The best investing strategy
- Make as much money as you can
- Keep your expenses low
- Invest the difference
- The more you invest, the faster your money will compound and bring you more money
- Sit back and earn money with no effort. You are no longer trading your time for money.
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SIMILAR ARTICLES & IDEAS:
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Key Ideas
Learned Optimism in Psychology
This is a concept that suggests that we can always change our attitude and behaviour, be aware of our thoughts and stop our negative self-talk.
Learned Optimism is a positi...
Pessimism Vs Optimism
Pessimism is defined as the anticipation of good or bad things to happen in the future, while optimism is generally considered the opposite. Optimism can be defined as the individual difference variable reflecting the extent of which we hold positive expectancies for the upcoming event.
The ways in which we think affects our health, well-being and success, even though the situations are the same.
Benefits of Optimism
- A positive impact on many aspects of physical and mental health.
- Provides motivation to work harder.
- Greater career success in life.
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Key Ideas
“Life-Extending” Time
Proactively invest your time in your health by eating well, exercising regularly, getting plenty of sleep, and regularly seeing your doctors.
Make sure you also invest in the other mark...
“Foundation-Building” Time
If you’re spending more time putting out fires than building the right foundations, you’ll never get out ahead of your to-do list.
Spend time building relationships, identifying opportunities, time for prevention and planning.
“Do-Nothing” Time
Investing in do-nothing time will help us slow down and experience a different pace of life, in which time’s value is not measured by its productivity.
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Key Ideas
Investing
... is the trading of your money today for a lot more money in the future. It is a high yield over the long term.
What happens to your money
Banks don’t like to give away their money. That mindset is reflected in the interest rates of checking and savings accounts of 0,5% and 0.9% avg. annual interest respectively.
When you deposit your money in the bank, the bank turns around and invests that money at 7% a year or more. After they collect their profit, they give a tiny shaving of it to you.
Portfolio and Diversification
- Your portfolio reflects your long-term wealth building investment strategy – not the short term. It includes everything you own. Your retirement accounts, your investment accounts, even your home are types of investments.
- Diversification is a way to describe owning multiple types of investment assets. Diversification is smart because you both protect yourself from failure and position yourself to take advantage of multiple robust methods for building wealth.