Editor: Crass Cash
"The rich don't work for money, they make their money work for them."
-Jgrayboat
When most people think of leverage they think of debt. While that might be a part of the equation for getting rich, it's not the best or only way. When I'm talking about leverage I'm talking about being able to do more with less. Whether you're punching a time clock as a lawyer, doctor, or assembly line worker, you're constrained by time. There are only so many hours in a day. So how do you get around that?
Do yourself a favor and look at the richest people in the world at Forbes. http://www.forbes.com/billionaires/list/#tab:overall
Do you see any doctors, lawyer, engineers on there? Do you find that strange? They're the highest paid professions, why aren't they on there? LEVERAGE! Even if you charge the most of them all at $1,000 per hour of your time. You're only going to make around $2 million a year before taxes. That's nice, but Warren Buffett made $37 million A DAY all of last year! He didn't do it by working overtime. He did it with leverage. Would you rather have 2,000 hours to work or have $55 billion dollars working for you?
-Jgrayboat
When most people think of leverage they think of debt. While that might be a part of the equation for getting rich, it's not the best or only way. When I'm talking about leverage I'm talking about being able to do more with less. Whether you're punching a time clock as a lawyer, doctor, or assembly line worker, you're constrained by time. There are only so many hours in a day. So how do you get around that?
Do yourself a favor and look at the richest people in the world at Forbes. http://www.forbes.com/billionaires/list/#tab:overall
Do you see any doctors, lawyer, engineers on there? Do you find that strange? They're the highest paid professions, why aren't they on there? LEVERAGE! Even if you charge the most of them all at $1,000 per hour of your time. You're only going to make around $2 million a year before taxes. That's nice, but Warren Buffett made $37 million A DAY all of last year! He didn't do it by working overtime. He did it with leverage. Would you rather have 2,000 hours to work or have $55 billion dollars working for you?
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