Some people are content to run the rat race, and to live paycheck-to-paycheck.
But you are not “some people”.
No, you want to get ahead.
If life was a video game, this would be the walkthrough guide.
I’ve not finished, but I’m a few levels ahead of most people and posting this to help you find the shortcuts and avoid the headaches.
Level 1: Choose Your Character
If you choose “The Victim” the rest of the game is going to suck because you’ll never be able to fix your problems because your character will always think everything is outside of their control. Avoid this character.
If you choose “Problem Solver” you’ll automatically jump to level two and avoid a bunch of non-sense. Do this.
Level 2: Choose Your Occupation
The game doesn’t let you just choose any occupation. Your geography, education, age, gender, and race effect this heavily. However, there’s a software update being installed to the game that’s fixing some of these issues. Until it’s fixed however consider the following about each occupation:
What’s the annual salary?
What’s the prerequisites?
Am I any good at that thing?
Janitor or doctor? High-school drop-out or 8 years of Med school? Do you whistle while you work or faint at the sight of blood?
It’s great that you want to follow your passion, but you may need to come to terms that your passion will only afford you a used Hyundai and a 1 bedroom apartment on the wrong side of the tracks.
If you want to get ahead, use your passions for your hobbies and use your career to get ahead.
Strengths on the other hand are different than passions. If you’re a good negotiator do that for high-ticket negotiations. If you’re a whiz with numbers, become partner at an accounting firm. Lean into the things you’re good at.
Level 3: Manage Expenses
Now that you have a job, you have income.
Unfortunately, sometimes to get the best jobs we have to incur some debt for education.
Even if you were able to avoid the student loans you’ll likely have living expenses during adulthood.
In order to beat level three we’re going to need to learn how to mange those expenses.
The biggest key in this level: Spend less than you make!
If you want more information on how to create a budget that empowers you to live the way you want you should really check out this course: https://gumroad.com/l/budget-for-the-life-you-want
Level 4: Climb The Ladder
Your employer will talk about loyalty and family and make you think that they’re with you for life. But then one of two things will happen:
- You’ll get laid off when the company is nervous about hitting earnings estimates for shareholders.
- You’ll give them 20 of your best years and they’ll thank you with a nice pen.
Neither of those are a desirable outcome.
Remember, most corporations have an obligation to shareholders, not to employees. They will pay you just enough to keep you there and no more.
If you want to get ahead, here’s the hack: Ask for a raise, or leave for another company every 18-24 months.
Two great resources for this:
– https://www.iwillteachyoutoberich.com/guides/ultimate-guide-to-asking-for-a-raise-and-negotiating-salary/
– https://steveadcock.us/get-rich-regular-9-to-5/
Level 5: Get Money, Buy Income
Now that you have a salary that pays you enough to cover your bills and have some left-over, what do you do with the leftover? You use your income to buy more income.
Maybe that sentence sounds strange. You might wonder, “How do you buy income?”
The answer is simple: Income Producing Assets.
An asset is something that increases in value.
A liability is everything else.
I can not stress this enough:
Invest in Assets (Not Liabilities)
Seriously, this is the biggest factor in getting ahead in the game of life.
If you want more opportunities for yourself and your family, and you want less stress about finances do this one thing:
Buy assets that pay you.
The difference between an asset and an income producing asset is that an asset grows in value (think of an undeveloped piece of land near a growing city) while an income producing asset pays you money regularly (think of a piece of land with a farm on it). You can sell the crops for money.
Both are important. But in terms of buying income, you want the latter.
Other income producing assets include:
– Homes that you lease out
– VRBO/AirBnb’s that you rent out
– Commercial Property that’s leased to businesses
– Dividend paying Stocks
– Vending Machines
– The list goes on…
So, to get to the next level, you take the salary from your job and you buy things that pay you every week, month, quarter, or year. You are buying income.
Eventually, if you buy enough income you don’t have to work your job. You can “retire” and fill your time with your passions without having to sacrifice your lifestyle.
Level 6: The Final Boss
Great job on getting this far.
Now that your money issues are taken care of because you are managing expenses, increasing earnings, investing in assets, and have purchased additional income; you’re ready to tackle the final boss of the final level.
Purpose.
All the money in the world won’t buy happiness.
However, being broke doesn’t buy anything.
Before you can beat the game of life you’ll need to find your purpose.
Money is only a tool to buy freedom, opportunities, security, and necessities. It won’t buy fulfillment, love, or joy.
Most people find purpose in family, giving back to their community, helping others, and most importantly faith.
So on your journey through levels 1-5 don’t neglect the most important things (faith, health, family, etc.) for some quick cash that is here today and gone tomorrow. Instead, use that new fortune to help others and to care for your body, mind, and soul.
Best of Luck!