Turning Earnings Into Wealth

There are many ways to make, keep and multiply a million dollars in today's world. Some, like myself, are on the process of making it.

Others are on the process of keeping or multiplying it. Relatively, the first stage seems the easiest amongst them. Since there is nothing much to lose, one is open to more risks and different possibilities putting the odds of success more in their favor if they take action.

But there's definitely a case to be made for the multiplying stage as it takes less effort despite the risk of loss.

Many will agree that keeping it is hard, especially in a volatile environment. It's funny how our best friend(volatility) at the start of our journey seemingly becomes an enemy at the later part of the journey. I appreciate the fact that there's risk involved at all stages albeit in varying degrees.

Life itself is one big risk and all we're doing is finding and taking the risks that have huge potential rewards hidden within them.

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Wealth And Freedom

Freedom isn’t free. It comes with a price and a responsibility. Responsibility is something we have relinquished for a comfortable and easy life. But this isn't working anymore as it is becoming clearer that those whom we thought will be responsible for us are actually not.

For me, freedom means having more choices and more control over our life. To be able to pursue our passions and freely create value for ourself and others.

To achieve this kind of freedom nowadays, we have to look beyond earnings and put more of our focus on wealth creation. Wealth is not just about money, but about assets that generate income and appreciate over time.

It's about building systems that replace us in terms of putting in the work to generate an income. There are quiet a number of ways in which this can be done.

A common misconception about creating wealth is that it still requires working long hours for many many years. While hard work is certainly important, it is not enough anymore.

With the constant rise on the cost of living, more hard work seems counterproductive as it can lead to burnout or stress, reducing the overall quality of life.

I feel a better approach is to incorporate smart work into hard work. In a world of smartphones, smart watches and smart cars, it's expected for working to become smart too. And our brains to also operate a bit smarter.

Working with high intensity for a relatively short amount of time means mapping out and focusing on the most important tasks that generate the most value. And outsourcing or delegating the tasks that are not our core competencies or that can be done more efficiently by others.

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Of course, this removes being solo and introduces a team. But it's an opportunity to go all in on our strengths and get the most work done.

If we're all going to destination wealth, we might as well team up and create a vehicle that will get us there faster and sooner.

Does creating wealth still dependent on having a high salary or income? Of course, it certainly helps in making more money faster but it really isn't a big determinant on creating wealth.

In fact, having a high income can trap us in a cycle of consumption and debt that actually prevents us from building wealth.

Looking beyond a salary mindset, earnings are no longer about how much we earn per month or per year. But how much of that earnings can we use to own assets and how much passive income they will be able to generate for us.

Now it's a two way street, we're working for money and money is working for us.

In Between Two Worlds

The modern world has become super sophisticated, bringing along with it much complexity. A good part about it is that it opened our perception and enlarged our imagination. What seem unattainable on previous generations is within reach in this new world.

Between the new and the old is the space where many find themselves in. We live in a modern world. But much of our mindset is still rooted in the old world. It hasn't adjusted yet.

Within the realm of work or earning a living, the traditional route has been modified to a large extent like an architect remodeling his/her previous work and redefining its meaning. ​Must we hold on to the old or embrace the new?


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