Category: motivation

investment, motivation

How Can You Prepare Yourself for Economic Changes and Your Retirement Days? Don’t Stuck In Case You Lose Your Job

by Enes Öner1 Comment on How Can You Prepare Yourself for Economic Changes and Your Retirement Days? Don’t Stuck In Case You Lose Your Job

I met a few people on social media recently. The lives of these people and what they do in one day seemed very interesting to me. Let me introduce two of these guys to you:

At first glance, these guys are firemen. So, they are public officials. They probably didn’t have any higher education. They only work two days a week. They have employment security, regular salaries and retirement plans. They also invest professionally three days a week. Their “side income” is quite high. These people have made great fortunes with their investments. Lastly, they can relax and spend time with their families two days a week.

One of these men buys old houses and rents them out. Currently, he owns forty-five houses with a monthly return of ten thousand dollars after paying debt installments, taxes, maintenance and repair costs, management and insurance expenses. His salary as a fireman is approximately 1200 dollars. He is five years into retirement and his goal is to increase his annual income to two hundred thousand dollars when he is 56 years old. Not bad for a public official with four children.

The other person does company analysis and deals with stocks and long-term transactions. Its current portfolio is over three million dollars. If he turns it into cash, he gets ten percent interest per year, which equates to three hundred thousand dollars. In all market conditions. But be sure his annual income is much more than that. Not bad for a public employee with two children.

Both of these men could have retired in their forties after twenty years of investment. But they chose to work and take advantage of retirement as public officials. Now, they have the advantage of operating in both areas, both as employees and investors.

I know many people who have a lot of money in their retirement accounts but don’t feel secure. They make up their retirement savings from the money they earn by working. Unfortunately, they know very little about investment. They wouldn’t know what to do if their savings melted away and their working life ended.

In times of major economic changes, wealth changes hands. Regardless of your economic situation, it’s important to invest in financial education. Because when time and conditions change, it is necessary to be prepared for the new situation. So you won’t be afraid. Although no one can see the future, it is good to take precautions and be prepared for all conditions. Therefore, it is necessary to start obtaining information as soon as possible.

Economic changes have already begun due to company sales and mergers. A businessman who recently sold his company had fifteen million dollars in his account, but those who worked with him had to look for new jobs. In such cases, anger is felt along with sadness at farewell parties. Employees realize that they make their bosses rich, not themselves, in return for years of hard work.

The truth is that bosses are not supposed to make their employees rich. Their responsibility in this regard is only to ensure that salaries are paid. Being rich depends on everyone’s own will and effort. What to do to become rich starts when the salary is received. If a person is not good at managing finance, he cannot continue to have wealth, even if he has all the money in the world. He eventually loses it all. The important thing is not to gain wealth and prosperity, but to sustain them.

If you can manage your money wisely, educate yourself about being an investor or a company owner. So, you are on your way to achieving personal wealth and financial freedom.

The difference between someone who is rich and can maintain it and someone who is not, is basically the way they use their money and leisure time.

Learning to invest and allocating time and budget for it saves much more free time and money in the long run. Do your best while at work, but also make sure you make efficient use of your wage and free time after work. It is not very wise to enrich others with your lifelong labor. If you make a commitment to work for yourself, you can achieve financial freedom in time.

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Formulas That Leads to Being a Billionaire

by Enes ÖnerLeave a Comment on Formulas That Leads to Being a Billionaire

Leverage

Control

Creativity

Growth

Predictability

One of the basic formulas of achieving great wealth is this step-by-step process. If you’ve studied the lives of successful entrepreneurs or investors, you’ll likely find a similar pattern or process there. Warren Buffett also uses a similar process when deciding which company to acquire. However, there is a different point in Buffett’s case. Buffet uses analysis instead of creativity. Warren Buffett’s genius analyzes a business and sees its current and future value. Therefore, whenever he acquires a business, he rarely sells it.

Many investors nowadays buy any asset just to sell. They want to buy at low prices and sell at high prices. They invest to earn capital income. In the stock exchange, these types of investors are known as short-term traders. In the real estate market, when a person constantly buys and sells, he is known as a hand changer.

The formula above may seem easy, but it is not easy to make it a reality. Most people do not attempt to follow the process indicated by the formula because they are unaware of its existence. Most people have no idea how some millionaires can gradually increase their wealth.

Some people who knew the formula tried to apply it and failed. Some of them were rich at first but later left broke. The formula has left them alone for the rest of their lives for some reason.

And for some people, this formula has become their life. This formula is their game. It always requires a challenge. It’s their fun, it’s their excitement. Applying the formula can almost be the purpose of their life. Usually these people are the ones who earn nine tenths of the money.

This post is about the decisive moments in one’s life when she makes decisions that will change her life. We all experience moments like this. These are the moments when we discover our characters. We become heroes or cowards; we become honest ones or liars; we either go forward or backward.

I want to show you DMD:

Desire

Motivation

Discipline

Some people have desire. However, if someone has the desire to get rich but lacks motivation, discipline, or both, he cannot gain wealth.

Here is PAS:

Passion

Attitude

Skill

Some people are passionate but never develop their skills. This is because they often have a negative attitude.

And EPE:

Education

Practice

Experience

There are people who are well educated but lack experience. Because of their lack of experience, they may not perform well, get things done on time, and achieve results.

Lastly, my favorite one, MHSH:

Modesty

Honor

Sense of humor

Happiness

Some people seem successful, but they have reached their position in dishonorable ways. Some people are successful but don’t even know what modesty is. Some people lack a sense of humor that they cannot laugh at themselves. Some people are also very successful, but they are also very unhappy.

These factors have enabled rich people to become successful businessmen and continue their lives that way. I say “continue” because as I have emphasized many times, the trick is not to get rich, but to maintain it.

Think of your own life. What are your feelings and attitudes? Do they help you succeed? Or are they stopping you from doing something? Be honest with yourself. Honesty brings clarity, and clarity brings the opportunity for change. By starting to see your life more clearly, you can reach another decisive moment where you will take control over your own life.

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Getting Rich More Quickly

by Enes ÖnerLeave a Comment on Getting Rich More Quickly

Study the lives of billionaires who came from nothing. You will find that the reason almost all of them can quickly move to financial freedom is investing or owning a company. Because there is legal convenience for people who earn income in these ways. So, it’s easier for investors or business owners to get rich quick. You can also achieve your financial freedom faster in case your money works for you.

Achieving Financial Freedom

Debts and taxes are two barriers to many people’s financial freedom. To quickly achieve financial security or freedom, it is necessary to own a company or to invest. For this, it is necessary to know that the important thing is not employment security but financial security and financial freedom, and also to understand the difference between them.

The Difference

  1. Employment Security
  2. Financial Security
  3. Financial Freedom

What most people believe is to complete higher education, start a job and retire in that profession. A large segment places emphasis on employment security in this way. They think that employment security is financial security, until they see that they lose their job and cannot find another job. None of them even consider the possibility of losing their job. However, wealthy people do not even speak of the term employment security. They talk about financial security.

Employment Security

People who care about employment security do their jobs very well. Most of them have devoted many years to training and gaining work experience. Although they have retirement plans, they do not know how to invest. They don’t feel safe because they are only trained to work or fulfill their profession.

It’s Always Good to Have Two Legs Instead of One Leg

To get more financial security, you will also need additional income and it will be important to educate yourself to earn those extra income. Whether you are an employee, a company owner or an investor, if you trust your skill, you will naturally feel more secure even if you don’t have much money. Knowledge means power… All you have to do is wait for the right opportunity to use that information and then you will have money anyway.

That’s why we were created with two legs. If we were one-legged, we would always stall, we would not feel safe. A person who is both actively working and investing with his savings is two-legged. Having knowledge on both sides gives us confidence. Those who know nothing but their job or profession are one-legged. Every time the economy goes down, they suffer far more disruptions than two legged ones.

Financial Security

Rather than investing the money in a retirement account and waiting for the highest return, self-taught people to be both employees and investors value financial freedom. I suggest you learn to be a professional investor in the same way we study at school to learn a profession.

The question that the reporter mentioned in the previous post had to ask the investor who earned a million dollars in the asset column but did not pay taxes was actually this:

“How did you get a million dollars?”

This was the main question. It is easy to find legal opportunities to avoid paying taxes. However, earning a million dollars is not easy.

Let’s also take a look at financial security through the eyes of “self-employed” people:

The average American millionaires are self-employed, live frugal, invest long-term.

The path from self-employment to company ownership is followed by big entrepreneurs like Bill Gates. While it is not easy, it is perhaps the best.

Operating in Different Fields

So being educated in more than one field gives more advantages than being well educated in just one. Did you know that wealthy people earn, on average, seventy percent of their earnings from their investments or companies, and the remaining thirty percent as employees or self-employed? No matter how much money you make, knowing how to increase your money will increase your assurance. Financial security is the ability to earn income from both sides independently of each other.

Financial Freedom

This path leads to real financial security, because there is one thing in common between those who earn income as company owners and those who earn as investors: they have people who work for them and make them earn money. Also, they make their money work for them. They work if they want, they don’t work if they don’t. Thanks to their knowledge in two areas, they do not have to work physically.

This is the path the billionaires take. This path shows the revenue models of Bill Gates from Microsoft, Rupert Murdoch from News Corp., Warren Buffett from Berkshire Hathaway, and Ross Perot.

Warning: Owning a company and being an investor are very different. I have seen many successful company owners who have sold their companies for millions of dollars. They like to think that their money is an indicator of how high their intelligence is, so they step into becoming investors and lose everything. A different game is played in each income generation model, different rules apply. Therefore, I strongly recommend that you be informed.

Just like financial security, operating in two areas will provide more stability to the person in the world of financial freedom.

You may want to read: WHICH PATH ARE YOU MORE INCLINED TO? (EMPLOYEE, SELF-EMPLOYED, EMPLOYER OR INVESTOR)

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You are the Person to Take Control of Your Investments

by Enes Öner1 Comment on You are the Person to Take Control of Your Investments

Rich people use much more leverage than poor people. If you want to get rich, you need leverage. If you really want to get rich, you need a lot of leverage.

We mentioned about leverage before. Now let’s talk about another thing we need to achieve a better economic situation, control power.

People who earn are careful about their thoughts. They don’t think they can’t. They don’t say “This is too risky.”. They don’t back down by saying “I cannot afford this.” Instead, they ask “How can I do this?” or “How can I reduce my risk?” or “How can I afford this?” People who invest to earn money are also extremely careful when choosing people for financial advice. Just as Olympic athletes should be careful when choosing foods that go into their bodies, investors who invest to earn must be careful with advice that will enter their minds. This process may sometimes involve cleansing your mind from old thoughts.

Control Power

Investors who invest to earn want control as well as leverage. People think investing is risky because they have no control.

Think of a car. A car with steering wheel, brake, accelerator, gear and engine. Just imagine if you could drive without any of these. If you got into a car without a steering wheel, could you drive that car?

Many people think investing is risky because they lack control. Imagine investing in mutual funds, stocks, bonds or savings accounts without any knowledge. When you invest in these tools without being able to answer the questions of what will happen next, how they will be traded, or how they will be affected by price volatility, you have almost no control over them.

Interestingly, most of the people who invest are not trained in this field. Driving a car requires at least a driver’s license to show that the driver has been trained and can drive a car.

The lack of control of uninformed and inexperienced investment advisors, financial planners and stockbrokers also makes things worse. For this reason, they make recommendations “Diversify, diversify, diversify”. Diversification is something you will need when you are out of control. Warren Buffett doesn’t diversify because he’s investing in a controlled manner. It buys either all or most of the shares of a business.

Lack of Control

Most people feel powerless because they have no control over their work. I know many people who lost their jobs not because they were bad employees, but because their companies were sold. More and more people feel like they are losing control, as there are many jobs shifting overseas these days. It is difficult to feel safe when you have little control over your job and salary and invest in assets over which you have no control, such as blind investments in savings accounts, stocks, bonds and mutual funds.

There are three reasons people find it risky to invest.

– They have very little financial education.

– They invest in investment instruments over which they cannot control.

-They get investment advice from salespeople and these salespeople have no control over the investment.

Once you understand the use of leverage, your next task is to make sure you have control.

Control is all about education. The more financially educated we are, the sooner we distinguish between advantageous and unfavorable situations. It is also much easier to sort out the bad ones among the good ideas.

Life is full of risks. We don’t have full control – at least not as much control as we think we have. But by getting educated, making reasonable choices, and having a positive attitude, we can reduce risk. Many people have achieved magnificent successes, even when “fortune is not on their side.” They have won because they have decided to take control of their destiny and refuse to give up.

One of the ways to gain control is to always have the big picture in your mind. When people talk about the big picture, I usually think of a tapestry. If you look from behind an extremely beautiful and invaluable tapestry, all you will see will be many knots. Sometimes it’s all that people can see, because they haven’t seen the completed design on the other side yet.

One of the ways to gain control is to always have the big picture in your mind. When people talk about the big picture, I usually think of a tapestry. If you look from the back at an extremely beautiful and invaluable tapestry, you will only see many tiny knots. Sometimes it’s all that people can see, because they haven’t seen the completed design on the other side yet.

Someone once told me that there are many knots in his life that he could not untie. I quickly realized that his problem was simply that he wasn’t visualizing his own tapestry. He was quite relieved when I told him about it.

Look at the situations from the other side. It will help you gain control and gain insight into how to deal with problems and people. At the very least, you have to be able to control what is going on around you as much as you don’t get stuck with your life being full of knots.

You may not have control over many things, but you can start with yourself. The real leverage is brain power. Winners accept responsibility and retain control.

Review your life today. Can you choose how you spend your day, or are you told how you should spend your day? Do you direct your financial investments or do you leave this business to someone else?

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Ten Characteristics of Leaders and Successful Investors

by Enes Öner1 Comment on Ten Characteristics of Leaders and Successful Investors

They Think Positive

From time to time everyone fails, moves away from their goals, or becomes disappointed. But only those who do not give up on their goals can achieve success.

Almost every successful investor is a positive thinker. No matter how difficult the conditions are, they manage to look to the future with hope. Moreover, they do not stop improving and walking towards their goals even in the most adverse times. They don’t allow negative people or negative situations to divert them from their path. An average investor experiences dozens of small and big crises throughout his life.

Of course, we are not talking about a naive positivity here. A positive thought, strengthened and supported by knowledge, benefits everyone.

They Make Conscious Choices Towards Their Goals

Great investors and leaders make clear plans for their goals, and everything they do is directed towards that.

For example, Muhammad Ali, when he was a skinny boy, set his mind on becoming a heavyweight boxing champion and started working towards it. Warren Buffett was trying to accumulate capital by distributing newspapers with a profit of 1 cent each.

If we want to be successful, we must make sacrifices in this regard and all our steps must be directed towards this.

In particular, financial independence requires serious learning and practice. Saving can be learned, investing can be learned, but these skills do not come to you. You have to start somewhere. Then, it is necessary to constantly improve yourself.

We will either find a way or make a one. 

Hannibal

Goals Don’t Work Unless Taking Action

Successful investors and leaders “take action”. They must always move. They make and implement their decisions. Of course this requires a solid character.

You may owe a lot and you may not have invested yet. So you have to act now. Because the 100 dollars saved today is not just a piece of paper. It is a step for your new life that you are constantly improving.

“The best time to plant a tree was 20 years ago. The second best time is now.”

A popular Chinese proverb.

Successful People Never Stop Learning

Studies have found two common characteristics of successful people. The first is that they work in many different jobs and take on various responsibilities as a child. The other is reading too many books.

Warren Buffett tells students who ask the secret of being a successful investor: “You should read 500 pages of books a day. Because knowledge is like compound returns. It increases exponentially. But I know that most of you will not do that. “

The Key to Success is Working Hard and Being Persistent

Investing is like a long-term marathon. In this way, you always learn, develop and mature. Successful investors never give up.

Jesse Livermore, despite three bankruptcies, continued to renew his system, take lessons, and work harder. When Tesla first went to America, he had to dig holes for two years, Michael Jordan was kicked out of the basketball team in high school, Einstein received an F in mathematics and did not receive acceptance from the university to become a researcher.

Many of life’s failures are people who did not realize how close they were to success when they gave up.

Thomas A. Edison

Successful People Make Detailed Analysis and Search for the Facts

Famous investors attach great importance to details and work hard to get the facts. While most people forget their mistakes, they confront them and do detailed analysis.

“Plot out your mistakes on charts, study them, and write some additional rules in order to correct your mistakes and the actions that cost you money.”

William O’Neil

“When the facts change I change my mind, what do you do sir?” 

John Maynard Keynes

Successful Investors Focus on Time and Money

Successful investors value their time very much. Being able to say no is their biggest weapon. They don’t let anything get in their way and distract them from their goals.

Focusing and saying no are important to achieving goals.

Success Often Requires Doing Things Different and Innovating

Most successful people have found new ways to do things more efficiently. Most of the time, they criticized the existing.

Sam Walton warns people to swim against the flow of the river, to go the opposite way of everyone’s heading, and to go against the general public belief. “If everyone is doing something the same way, you can find different things only by going in reverse.” he says.

John C. Bogle, who revolutionized the Fund Management industry with low-cost index funds, could not convince anyone when this idea came to his mind. Now, most of the savings in America are parked in low-cost S&P 500 index funds.

Successful People Inspire The Masses

Successful people set an example to others with their lives and words. They are a teacher, motivating coach or inspiration for the masses.

Warren Buffett’s letters to Berkshire Hathaway shareholders are read by millions.

Long-Term Success Requires Honesty and Solidity

Successful leaders are all honest, reliable, and responsible people. They never give up on their principles. Because these principles are the products of experience they have created to prevent them from making the same mistakes again.

Jesse Livermore has never taken a venture with all his money again after losing all his money twice. In addition, he has adopted the principle of cutting his losses after reaching a certain rate. Warren Buffett never invests in businesses he doesn’t know about.

Principles like these have saved the lives of investors.

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I urge you to read my WHY ACCOUNTING KNOWLEDGE IS NEEDED post.

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You May Lose Money Because You Don’t Invest Enough Time

by Enes Öner1 Comment on You May Lose Money Because You Don’t Invest Enough Time

There are only two things we can invest with: Time and money. Many people lose money because they don’t invest enough time.

Remember the 90/10 rule of money. I can say that 90 percent of the investors invest with money, but don’t invest enough with time. And the 10 percent who earn 90 percent of the money invest more time than money.

Let’s take a look at the diagram of three types of investors below. This is important to understand the relationship between time and investing.

When we look at this simple diagram, it is easy to understand why non-investors and passive investors say “Investing is risky.” They either have little or no financial training, and they have little financial experience.

Most investors consider investing risky and seek financial advice from finance professionals with little financial training or experience.

Did you know these?

• Becoming a licensed massage therapist takes more time than becoming a financial advisor.

• Less than 20% of all stockbrokers and real estate dealers invest in products they recommend to their clients.

• Very few politicians and legislators have any investment.

• Economics department academics generally don’t have a financial training or experience in investment.

• Many journalists who write on finance issues have little financial education or investment experience.

Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.

Warren Buffet

It was discovered that the most used word in English is “time”. The word “money” may also be in the top 100, but it wasn’t even near “time” on the list. 

How you spend your time is very important because lost time can never be recovered. The money lost is often recoverable. As Pericles puts it, ” Time is the wisest counselor of all.”. I recommend that you be mindful of your time and learn to invest your time thoughtfully.

If wasting 15 minutes meant losing $ 500, would you be more conscious of how to spend those 15 minutes? I think you would. If you are in the hospitality industry, going to new restaurants doesn’t mean you waste time and money. What waste is, is different for all of us.

Be aware of how you spend your time. Not all money in the world can make up for lost time.

We are all affected by money, regardless of who we are or where we live or what we do. If there is something that will affect your life, it’s best to learn as much about it as possible. Can you find time to invest in your financial education?

Evaluate how you spend your time. There are 168 hours a week:

Can you devote between 4 and 10 hours a week for your financial education? You can probably do that. The real question is: Will you take the time?

Make a promise to yourself to take more time to learn, and then keep your word! Reading this blog is a good start. But more is always needed. What else can you do?

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Earn More With Less

by Enes ÖnerLeave a Comment on Earn More With Less

The difference that separates a good investor from a bad investor is that the good investor can make more money with less money.

Leverages allow us to do more with less force.

The Key Is Leverage

People have sought to do more work with less labor since they lived in caves. When a child was old enough, he was taught to use a spear for hunting and defending himself. Spear has provided a great deal of convenience to human beings in their cruel environment. Over the years the spears have shrunk in size and the bow and arrow have been developed. This was a superior technology. Compared to a spear, the bow and arrow allowed people to do more with less.

As time progressed, man learned to tame horses. More distance could be taken on horseback in a shorter time and with less fatigue. It was an important convenience used not only in transportation and agriculture but also in wars.

When gunpowder was invented, the rulers who owned the cannons triumphed. Indigenous peoples such as the American Indians, the Hawaiian people, the Maoris of New Zealand, the Aborigines of Australia, and many other cultures lost to gunpowder.

Just a hundred years ago, cars and airplanes replaced horses. Once again, these new technologies have been used in wars and peacetime for some work. Telephone, radio, television, computer and internet networks all also enable people to do more with less. Actually, they are all levers. Each breakthrough new invention brings more power and wealth to those who have access to these tools.

If you want to be rich and not a victim of global changes, it is essential that you develop the leverage that is stronger than all others: Your mind. If you want to be rich and protect your wealth, your mind, your financial education, is your strongest lever.

You might say: “I don’t know anyone who can teach me finance. I haven’t heard of such an education. There is nothing to do.” Perhaps because of this mindset, your chances of reaching great wealth and, more importantly, protecting your potential wealth are extremely low. Your chances are low because you are using your most important asset, your mind, against yourself. You’re using your mind to find excuses instead of making money or finding solutions. Remember that your mind is your strongest lever. If you can’t control your mind, you can’t control your life. Excuses are easy to find. For this reason, unsuccessful people always have an excuse.

We Are All Born Rich

We are all born rich. Each of us has been given intelligence, the world’s most powerful lever. So instead of using our minds to make excuses, let’s use it as leverage to make us rich.

In summary, the difference between cavemen and monkeys is leverage. The difference between the rich, the poor, and the middle class is leverage. The difference between savers and investors is leverage. A well-educated and disciplined investor can achieve higher returns by taking much less risk and spending less money. But this requires leverage. And in order to have leverage it requires you to train yourself and use your mind wisely.

If you want to learn more about investing, you may read my YOU NEED TO SAVE MONEY post.

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Work in the Field You Wish to Work in

by Enes Öner1 Comment on Work in the Field You Wish to Work in

It is important to know yourself and your inclinations before taking a step on the path you are thinking of.

I know that some people’s gaze becomes dull when they see a formula or a graphic. Because they know it takes some time and effort to understand them. But those dull looks can turn into a joyful or even exciting gaze when it is realized how much cash flow and profit success can be improved thanks to understanding the graphics. This is a choice.

We all need to do some internal research to find out what we want to be and do. What if you realize one day that you are not living your life as you wish? If your own life isn’t yours, then whose? If you are not going to think about your own life, then who will think about it?

I hope we all chose which area we would like to do business in. It’s about having the vision and goals to make things happen and achieve success. It is difficult to change the status quo if necessary, but sometimes it is best to do so.

The right to choose is a freedom that we should all have. When I meet people, whose lifestyles are different from mine, I think of restaurant menus: There is something for everyone. And if what we’re looking for isn’t on the menu, we can always find another restaurant we can go to. After all, everyone has their own taste.

We can be very influenced by the people around us. It is not easy to get out of our comfort zone and do something different. We may need some time to be able to move forward our own way. But we can eventually manage to choose a path full of people and events that we really enjoy. This is like writing the screenplay for the movie we’re in. We enjoy writing, playing and watching it.

Imagine yourself writing the scenes of your life movie. What kind of scene would you like to act? I don’t think any of us would want to write scenes where he was doing unnecessary work or getting bored or poor. While such scenes are not fun to write, they will also be boring and depressing to act and watch. Give yourself the freedom to move towards the person you really want to be or the things you want to do.

I say “give yourself the freedom” because most likely you will be the one who gives yourself a chance. Many people want their status quo to continue. However, maintaining a position will not get anyone forward. You have the ability to take steps. Reading this post and this blog is a step towards change.

Life is a war. Make sure you fight well. Also, avoid empty and meaningless wars. Don’t live a worthless life and waste your energy.

Do not forget to write your own script. Then act it and see you live the life you desire. This is a freedom, this is a power, and that means winning in every sense.

If you want to make a change in your business, I recommend you to read my MAKE MONEY IN A BETTER WAY post.

Do you need to get motivated for your financial growth and getting rich? You can reach my other posts in motivation category here.

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Make Money in a Better Way

by Enes Öner4 Comments on Make Money in a Better Way

It Doesn’t Need to Have Money to Make Money

We know that many successful people dropped out of school without getting a degree or never went to college. General Electric founder Thomas Edison, Ford Motor Co Founder Henry Ford, Microsoft founder Bill Gates, CNN founder Ted Turner, Dell computer founder Michael Dell, Apple Computer Company founder Steve Jobs, Polo’s founder Ralph Lauren did so. Higher education is important in traditional professions, but for these men it wasn’t important in accessing great wealth since they started their own business.

So, What Do You Need?

If money isn’t needed to make money and schools don’t teach how to achieve financial freedom, then what is needed?

It is necessary to dream, to be determined, the desire to learn quickly, the ability to use God’s blessings, and to know how to earn income.

Which Way Do You Make Your Income?

Different ways of earning income.

An employee earns money by getting a job, working for someone else or working for a company. A self-employed person earns money by working for himself. An employer has set up a business that generates income. An investor earns money from the various investments she makes.

There are different ways to generate income. It requires different mindset, different technical skills, different learning path and different people. Different people find themselves closer to different areas.

Although money is the same everywhere, the way it is earned can be very different. Think of the different qualities required in all four ways and ask yourself which way you get the most of your income.

Each one is very different. Earning income from different segments requires different skills and different personalities, even if the person in each segment is the same. Switching from one method to another is like playing golf or tennis in the morning and going dancing at night.

You Can Earn Income in These Four Ways

Most of us have the potential to generate income in all four ways. Which one we choose has nothing to do with what we are taught at school. It is more related to our values, strength, weaknesses and interests. What kind of person we are determines how we will earn our income.

Whatever we do professionally, it is possible to earn income in these four ways. For example, suppose a doctor chooses to earn income as an employee. He can work in a hospital or a public institution. He can even become a military doctor or become a permanent doctor of one of the insurance companies.

The same man can also open a clinic and work as a self-employed. He can also choose to be an employer. He hires other doctors. He doesn’t have to work in his own polyclinic, then he can employ a administrator. If this doctor does not necessarily want to have a job in the field of health, he can also establish a company operating in a completely different sector. 

He can also invest in other people’s business or other investment instruments such as stocks, bonds and real estate.

Different Methods of Generating a Source of Income

The way we earn income depends on our character. Some prefer to work for someone else, some hate it. Some people like to own a company but also like to run that company. While some people like to invest, others avoid it by citing the risk of losing money. Most of these attitudes can be found in us.

You Can Become Rich or Poor in All Four Ways

There is no clear relationship between these methods and wealth or poverty. Earning millions or being broke is up to the person himself. Choosing one way or another is not a guarantee of financial success, and no one can give you any advice.

These Methods Are Not Equal

Knowing the different features of each method is useful in understanding which one or which ones are more suitable for us.

Let’s say I choose to earn my income primarily as an employer and investor. Because I would like to take advantage of tax benefits. Legal tax privileges for groups at the top of the table are limited. On the other hand, there are plenty of loopholes regarding tax that can be used by those below in the table. If I get my income as an employer and investor, I can earn much more money in a shorter time and I will not pay high tax.

Money Supports Life

I believe it is absurd to spend a lifetime working to earn money and pretending that money is not important. Life is worth more than money. On the other hand, money is also important in terms of supporting life. We must learn to make money without working long hours. That’s when we get plenty of time to do other things.

If you take a closer look at this simple table, you will see that it contains not only different views of the world, but also very different worlds.

Neither is better than the other. Each of them has strengths and weaknesses.

Some of us can walk more than one path, maybe even all of the paths. We are all different individuals, remember, one method is not better or more important than the other. In every village, town and city of the world, all kinds of professionals are needed in order to balance the financial stability of the society.

On the one hand, our interests change as we grow older and our experience increases. For example, many young people who have just graduated from school are elated when they find a job. However, after a year or two, few find that they are not interested in rising up the corporate hierarchy or are not interested in their business. These changes that come with age and experience cause one to seek new ways to grow, challenge, achieve financial reward and achieve personal happiness…

Are you interested? Check out these posts too:

I urge you to read my DON’T WORK TOO HARD -WORK FOR YOURSELF post.

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investment, motivation

The Key To Being a Successful Investor

by Enes Öner3 Comments on The Key To Being a Successful Investor

One tenth of the people in the world own nine tenths of the total assets. If we are not careful, this ratio can reach 95/05 and even 99/01 in a very short time. In other words, 1% of people can own 99% of wealth.

“Ah, but a man’s reach should exceed his grasp, Or what’s a heaven for?”

Robert Browning

It is our dreams that keep us moving forward. If your reality starts with your dreams, I am happy to say that your dreams will become your reality.

Why so? Because if we didn’t have dreams, we would be living just to survive. I don’t believe that most people’s goal is just to survive. Have you ever heard any teenager say that he hopes to be a stray bum? Usually they say things like: “I want to be president.” “I want to be an astronaut.” “I want to be a fireman.” “I want to be a doctor or an engineer.” These are professions that require effort and sometimes heroism, and young people have dreams and aspirations for these professions.

Winners are always young in spirit. They set high goals and have plans and enthusiasm to achieve what they aim for. They may have crazy dreams, but that’s better than not having them. Then they focus on whatever is necessary to achieve these dreams and make an effort in this direction.

Being stubborn is an important part of being a winner. Some people fail because they give up too soon. When I was little, my uncle always told us the story of a man who loved soda and therefore got into the soda business by creating a product called 3UP. It had failed. Therefore, he started to work again and this time came to the market with a soda called 4UP. This product had also failed. So he named his product 5UP and this time he did whatever it took to be successful, but as you can imagine, it failed again. Realizing that he still liked soda, he made another trial and named his new product 6UP. When this product failed, he completely gave up on this business.

A few years later, someone else produced a new soda and named it 7UP, which was a huge success. When I was young, I could not understand why my uncle kept telling this story. He has told us the same story many times. Later I realized that he actually wanted to tell us not to give up. I never forgot this story and never gave up. His story was very accurate. Tell yourself this story if you need it, and see your inner winning side come into play.

The other component of winning is simply having a winning attitude. I tell people to see themselves as victorious. Positive thinking helps. It is a great power. Winning requires you to have that kind of power. Power means durability. Being positive gives you the strength to deal with extremely difficult situations.

Are you stubborn enough to win? Then you can invest to make money! This is not a foreign region, and you don’t need a passport or visa to enter the winning investor class. I have heard many people say “I am too stubborn” when talking about themselves. But then they pretend they don’t have what it takes to invest! They even talk in such a way that you think they don’t have the right to learn about investment. They’re just missing out on a great pastime and also a better financial future.

Ignorance can cost a lot more than education, and this certainly applies to your financial education. Don’t let the fear of the unknown hamper your aspirations and financial well-being. There are people who would like to take advantage of you. As an example of this, I have seen such situations happen to successful athletes. While they had millions during their sports career, they lose all their assets within 10 years of retirement. Do not let such a thing happen on your own. Learn about money and use what you’ve learned in a way that works for you. This is the first and most important key to a successful investment.

Don’t know where to start investing? I suggest you read my THE FIRST RULE OF GETTING RICH post.

If you think you need motivation, you can check out my posts in this category.

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