HOW TO CREATE MORE WEALTH
My Grandpa’s Advice On — Retiring Rich
we all want to retire rich, right?
Making money takes time. We spend hours in front of the computer, taking innumerable cups of coffee destroying our physical and mental health. And yet we don’t give much thought before we spend it.
When I was young, I hardly cared about the future.
“I’ll make $10k per month writing romance and travel the world forever.”
That was me in my 20s.
Now I have entered my 30s.
Now I have realized that time is my greatest asset in building this wealth.
Planning has become necessary if I want to retire with enough wealth.
“If You Fail to Plan, You Are Planning to Fail” — Benjamin Franklin
My Grandpa’s advice on savings and retirement
He used to talk about a rule.
I call it the 25-cent rule.
My mom used to explain to me —
“My father used to say — If you make 1 dollar from your business then —put 25 cents to savings, 50 cents to your expenses, and the remaining 25 cents back to your business.”
In 18s-19s, there were big families. And most of the members of my family were self-employed. The no.1 rule my Grandpa taught my mom as an entrepreneur was that — “Keep rolling the money.”
I’ll explain this some other time.
But he always made sure that 1/4th of his earnings went to savings. Later, in his 50s, he used this money to buy large farmlands and real estate.
Conclusion
Make money on Medium, YouTube, Gumroad, Amazon KDP, etc.
Do any side hustle you want.
But …. save as much as possible.
We don’t want to work forever, right?
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