How to Get Wealthy: With a 9 – 5 Job

The Social Media Influence

• Today, logging into social media, we often encounter headlines like “I Became a Millionaire at 16,” “Jobbers are Losers,” and “The New Retirement Age is 26.”
• These noisy headlines, interviews, videos, and articles flood our feeds.
• After repeatedly watching or reading these stories, it’s natural to start questioning your life choices.

The Inner Doubts

• “What am I doing with my life?”
• “Was school a complete waste?”
• “Is my university degree just a useless piece of paper?”
• “I hate my job; should I quit immediately?”
• These inner voices can make you feel deeply uncomfortable.

The Common Experience

• Many of us have experienced this situation.
• Some believe that if they can’t start a business, they won’t achieve financial freedom at a young age.

Building Wealth with a 9-5 Job

• But let me offer you some advice on how to build significant wealth while still holding a job.

Defining Financial Freedom

• First, we must understand the meaning of becoming rich, becoming wealthy, and gaining financial freedom.
• Let’s start with the simplest concept: financial freedom.

The Role of a Paycheck

• Currently, you have a job and receive a paycheck every month.
• Why do you need a paycheck? Because you have monthly expenses to cover:

-Rental fees

-Car loans

-Food

-Utility bills

-Vacations

-Stress relief mechanisms

-Medications

• You need a paycheck to cover these monthly expenses and a job to get a paycheck. Sounds clear, right?

Imagining Financial Freedom

• Now, imagine a situation where you still receive your monthly paycheck, but you don’t have to work a job.
• You might ask, “Is that possible?” or “Is that option available?”
• Yes, it is true, and some people live that way.

Achieving Financial Freedom

• This is what we call financial freedom.
• You don’t have to worry about money because every month you receive your paycheck whether you are working or not.
• You have both the time and money freedom to do anything you wish or are interested in.

Generating Passive Income

 The next question on your mind might be: how can I secure a paycheck every month without a traditional job to cover my expenses? The answer is straightforward: you need to build capital or assets that generate income. In simpler terms, you need to create income-generating assets.

Creating Financial Independence

Building these assets allows you to achieve financial independence. Instead of relying solely on your job for income, you rely on investments or other income streams that continue to generate money whether you actively work or not.

 Identifying Passive Income Sources

 Then you might wonder, what exactly are these income-generating assets? Look around you, and you’ll find many examples. Take apartments, for instance. When someone pays rent to live in an apartment, the owner receives a monthly paycheck in the form of rental income. In this case, the apartment itself is an income-generating asset, and the rental income is the passive income.

Allocating a Percentage of Income: Let’s say your monthly income is $5,000. After receiving your paycheck, you need to allocate 20%-30%-40% to your investment account. Whether it’s a savings account or a brokerage account where you’ll purchase assets, the percentage allocation is crucial.

• The specific amount you receive each paycheck isn’t as important as consistently allocating the same percentage each month.
• This disciplined approach over 5-10 years shows that building wealth isn’t about overnight success but about commitment and knowledge.

Commitment and Knowledge: This is a game of commitment and knowledge. If you’re not committed to saving and investing every month, it’s challenging to make progress.

• You’ll need to manage your monthly expenses with what’s left after investing.
• The critical factor is acquiring the right knowledge. No matter how much you save and invest over the next 10-20 years, choosing a bad investment, such as a poor stock or rental property, can significantly impact your financial goals

Importance of Education: Having the right knowledge to select the right investment or asset is crucial.

• Whether it’s stocks, real estate, or bonds, understanding the market and making informed decisions can determine your success over the long term.

Importance of Mentors and Resources:

• To have the right knowledge, you need the guidance of experienced mentors, access to insightful books, and informative lectures.
  • Choosing the right mentors involves identifying individuals who have successfully invested and achieved financial success.
  • Authors who write on these subjects should ideally be practitioners who have not only written about but also successfully applied their knowledge in real-life scenarios.
• Validating Speakers and Authors: When selecting speakers and authors, it’s crucial to assess their track record.
  • Have they achieved what they speak about?
  • Are they retired professionals who have practiced what they preach?
• Commitment and Learning: Learning these principles is a gradual process.
  • It’s not an easy task but a challenging journey that requires dedication and perseverance.
  • Embracing this journey, despite its difficulties, is crucial for achieving financial freedom while maintaining a job.