The Most Effective Method to Becoming Rich (part 2)

hint: You already have everything you need!

(Please read previous post as this is a continuation…)

And now… the last two New Millennium Currencies

Information

At this point, you most likely know that we’re in the age of information. It’s the most expensive thing on the market. People pay ungodly amounts of money for it, governments spend massive amounts of time controlling it and no one feels like we have enough of it.

There are people that get paid far better for the management, the development and the creation of information and information technologies than ever before. If you know how to do something and can communicate it in a way that your client, colleague or friend can understand it… the value can be limitless depending on the need.

Also, it should be understood that you specifically do not need to know everything to utilize this type of currency. You can have a vast network of people who have information, talent and skills. Being the solution to someone problems doesn’t necessarily always mean you are the only person solving said challenges. Bring the right team for the job and you have solved the issue.

If you don’t have it, invest time, energy, passion and money (from your assets of course) into gaining the right information and the right network to lead you to the right solutions. Then figure out how to monetize it so it can make money for you on a consistent basis.

I’ll give you some suggestions in the next post.

Passion

health + energy + momentum + optimism + confidence = Passion!

This is your number 1 currency. Period. Non negotiable.

The above equation is ordered in an important way! Generally each preceding factor feeds into the next until you reach the all encompassing “Passion”.

Do you feel less passionate in life? (regarding work, your loved ones, the daily grind, etc.)… that means you’re more than likely lacking one of the preceding factors! Think carefully. Many people lack optimism and confidence… this may be due to lack of energy, exercise and diet (meaning Health).

If you have more health than the next person, you’ll live longer.

If you have more energy than the next person, you get more done in all areas of life.

If you have more momentum than the next person, you’ll reach your goals sooner.

If you have more optimism than the next person, everone will want to know you and be around you.

If you have more confidence than the next person, you will get the sale.

If you have more Passion than the next person… you will win. Period.

Let’s remind ourselves that our economy is fueled by confidence. Stocks, bonds, other investments. How optimistic the public and share holders are with a company’s performance is literally how much that company is valued. This concept of dealing in confidence spans across industries, governments, and the media.

What we tend to not realize is this is also how we are valued as a professional in many ways! We deal in optimism and hope - both as manager and as employee as well as in multiple levels of business, jobs and even in our personal lives.

Time management has been replaced by energy management. In business and in general life.

Energy management is a broad subject. I’ll cover it in a future post. But the easiest way to understand this concept is to understand this:

Yesterday a task may have taken you 3 hours to complete. Maybe this was due to a normal day in the routine of your life.

Today, you have had a wonderful morning, a solid breakfast, some great conversation, and you’re feeling good all around. The exact same task will only take you 1 hour.

Why? It has nothing to do with better scheduling or time management. Its because you have different levels of energy. This is due to the multiple areas of Passion. If you have the Passion… you will succeed.

Passion is King!

The absolute top priority in any market anywhere. If you have time & money… invest it in more Passion!

Invest all other resources and currencies into each of the ingredients of passion; especially the first few building blocks (health and energy).

There is absolutely no argument against this ROI. If you’re healthier and more energetic in a natural way; you will live better, work longer and play harder. Period.

The Most Effective Method to Becoming Rich

hint: it has nothing to do with “money”!

(Please read previous post as this is a continuation…)

And now… the first two New Millennium Currencies

Time

The most finite, expensive (especially with the ever popular “opportunity cost” equations), and in-demand currency of them all. But not the most important! It’s important to realize that more time, resources, thought and engineering is being spent on figuring out how to save time (or properly utilize & monetize it) than ever before.

BUT, the entire concept of time management (in terms of scheduling and proper use of time) is being placed under debate and is being renegotiated. It’s outdated.

I suggest rethinking the concept of time for yourself. After reading ahead into the currency of passion and learning that energy management is far more effective and important than time management, I urge you to consider dropping the outlook calendar, the 2 ton calendar you have in your bag or at your home office… and develop the process of having a simple priority divided task list that’s organized like it was the latest apple software product and a single small tablet of paper on your desk that says “today I will accomplish these two tasks:…”, or even “today’s top priority is…”. It will be the best innovation to your time management since you started learning to read a clock!

Later we’ll discuss how to properly monetize your time. But for now, start to understand that time is a vital form of currency. And that it is far more important than “money”.

Assets

This category use to be labeled money or cash. But money alone is no longer considered an “asset”. This is because it doesn’t follow our New Millennium currency rules. It’s not in motion (well at least if you don’t consider inflation and if you do, then money is always declining in value). Thus, in order for money to be in motion, it needs to be earning you a return of some sort by investing it and converting it into an “asset”.

Assets simply stated; stocks, bonds, metals, real estate, net estate (see below), other business investments, etc. (There are more assets that I will cover in the monetization section of these posts, but for now, these are the traditional approaches.)

Many people think of the real estate market as being “crashed”. And sure it’s not worth what it once was. But think globally. How many millions of people around the world would kill to own your house or condominium? Think if you had more time, information and motivation that you could sell it or leverage your property to still make money is a down economy?

If you don’t “own” anything… start today. Even buying a few cheap stocks from very well known companies at the fire sale prices we’re seeing due to the crushed economy will start to generate a feeling of “ownership”. If you don’t know any places to invest in, consider a money market account or just start investing in gold and other metals that historically hold their value. You should definitely own digital real estate – or “net estate” (your own URL and network ICP – see other posts). Depending on where you are financially, you should look deeper into the opportunities that the current economy may have for first time home owners if you don’t own your home. You may be surprised to find out that you could buy your way into a decent place and be paying a lot less for the mortgage than the rent on your apartment – even in this economy. Also see current tax deductions for first time home owners. Thousands of dollars can be claimed back from taxes paid just for new ownership.

Information and Passion currencies are to follow in the next post

Cash is NOT King

The new concept of assets: “New Millennium Currency”

Money is not real! Cash is fake!

I hate the phrase “cash is king”. It drives me crazy.

It’s only a tool to use in exchange for goods and services. Too many people think money can buy happiness, safety or security. Most of the time, this is not always the case. It is only one possible measurement of one side of the equation. Time, for example, can be king. Time works for both sides of the equation. Time always equals Time. Money does not always equal “Money”.

Personally, I don’t even think of money as an asset. Can you use US dollars anywhere in the world, at any time, to obtain anything? No. You cannot. But there are other currencies that can be earned, saved, invested, spent and loaned that you can use anywhere, anytime for anything. Literally.

Let’s take a moment and discuss a different way of looking at currency. The rules changed as we moved into the 21^st century. I’m not asking you to forget “money”. I’m only asking you to drop the concept of “money” to the bottom of the list of importance.

Most people who haven’t properly and clearly set their future goals (read my other posts) typically say “I want to be rich” when asked what their career goals or future goals in life are. And usually a follow up clarification question results in “I want a billion dollars” (or specifically I quote a “bajillion” dollars).

Well, there are many avenues to getting rich, but what I always suggest first is re-engineer your thinking. And one step you can take today is starting to realize there are more important currencies in life than paper “money”.

The Concept of New Millennium Currency:

First lets understand the rules of the new currencies before exploring them:

The new currencies are alive. They are always in motion. At any given point you are either earning more, or losing more.

An old phrase use to be “how much money do you have”? And now that question has become more enlightened… it’s “how are your assets doing in this economy”, “how much free time do you have”, “what talent do you have that you’ve learned to monetize and how” and “how do you feel; emotionally physically, mentally”? The concept of net worth is no longer the most important measurement. What’s more important is what you’re actually able to do with your currency and resources.

The new currencies are always considered in relative terms.

It is understood that any currency’s worth is fully negotiable at any time.

For example, one person will pay more “money” for an extra day per week (like negotiating a lower salary in order to not work on Fridays). The next person would pay a lot more or a lot less for the same amount of time. But I guarantee you that an extra free day a week will enable you to earn a lot more “money” or currency than what your day job is paying you. So it’s all relative and negotiable. Provide more information, you’ll get paid more. Provide solutions for freeing up time, you’ll get paid more. Provide a way to obtain assets with low risk, you will get paid more. Provide a more enjoyable atmosphere or supply charisma in times of need… you will get paid more.

Any of these currencies can be exchanged for local “money” – anywhere, anytime around the world

These are the new currencies in order of importance. But I’m going to break them down for you in a different order in the next post, because some of the concepts may cause you to react in a confused way if you’re not fully ready for the internal discussion you’ll have with yourself at the end of this series of posts.

I would like to introduce you to the New Millennium Currencies:

Passion
Information
Time
Assets

Bottom line: With any of these forms of currency, at anytime - anywhere, you can earn “money”.

But… money can’t always buy these currencies!