The 4 main ways how the Rich make their Money in modern Era
In our world there are Four main ways to gain money, First way is that you trade your time for money, the Second way is you Trade Information for money, the Third way to get rich is that you give a product or a service for money and the Fourth way to get seriously rich is that you put something to work for money.
These are the main ways that money will arrive in your bank account.
These are the four main ways money is made in the modern new world.
First is Time for Money
Trading your time for money is what generally jobs are and there's nothing wrong with the job.
A lot of people are going to say quit your job, No there's nothing wrong with having a job and it's better than doing nothing but this is the first level, this is the first level on how to make money.
So what you do when you have a job is you give up your time to get some cash.
A person will say if you stand here all day I'll give you X amount of money and you agree, you give up your time to make money.
But the problem with giving up your time to make money is that you only have a certain amount of time. It's very difficult to get rich if you give up your time for money.
Because you have a certain amount of time you need to sleep, you need to eat, you got other stuff to do, you haven't got the time to sit there and get rich that way.
Therefore the time for money is great and obviously, the more valuable your time is the better. That's fine you can make more but you still have a finite amount of time and this is the problem with trading your time for money.
Second is publishing Information for Money
Now the good thing about getting information for money is that your time is not explicitly linked, So if you do something like creating a video giving information then that one video you can film at one time but it can be given out or sold a million times and you get paid every single time.
But your time is no longer linked to the money.
So a lot of people make money purely on information and this it can be done in lots of ways it can be done with content creation and social media.
People thus can make money based on what they know, selling information to people. Knowing information and providing, and there are also high-level consultants who do the same thing information is valuable.
We live in the age of information, another thing is the two most important things in the world today are information and attention.
If you can get or if you have information and you can get attention you will be rich. Because if you can get attention people are going to pay attention to you and if you have information to give them.
You will get rich, this article is an example of how a team or a professional who can attract attention and who has information can make money. And thus information for money is better than time for money.
Every single person who is reading this now must have something they know, you know something that others don't know.
It doesn't matter if it's how to play guitar, doesn't matter how to play piano, doesn't matter if it's how to fix a car, doesn't matter what it is you must have some information that other people find useful. Which is the key.
That information now can and should be weaponized and it can be turned into money.
we're gonna get into how to do that in another article, but it's not actually very complicated you need to garner attention in order to share the information that you have and earn money fairly.
People with information or knowledge need to produce the videos or the subject material or the pdfs or to explain people what they know. So others can benefit from their knowledge.
You need to establish credibility so they understand that they can trust you and they will pay for your information this is another way to get money by information. so keep that in mind and write that down because when you write down your piece of paper information you also need to sit and think what do I know that other people don't know?
There must be something you know and that information is valuable you have to convince people it's valuable and to come and buy it from you.
The next way to make money is what most businesses do,They provide a product or a service for money now this is different from information because even
Though if you provide a service, you have information let's say you fix cars. you know how to fix cars, you have that information but you're not selling the information, you're selling the service which is different. the information would be selling a book on how to fix my own car the service is coming here to fix it.
So a product or service selling for money, this is very very simple that's what most businesses do they buy they get a product or a service and they sell it for a higher price.
This is actually the way that most mega businesses make money. But in the modern world, it's quite difficult to do and it's difficult to do because most products and services are monopolized by bigger businesses already.
They are monopolized because everyone's already selling everything and we live in a global economy now and there's no product you can think of that a general person cannot go to amazon.com and find cheaper from china. The merchants sell it at a one penny maybe two penny marker so the product root is getting harder unless you're very very unique and you build a brand.
The service is fine but you know what the problem with services service is once again linked to your time if you're providing a service you're still giving up your time for money.
The product angle's difficult, the service angle is difficult, the time angle is difficult so far the only angle we have that will allow you to make money scalable out and beyond is information for money.
Have your Money work for you
The final method of earning good money and making it big in life is putting something else to do the work for you.
Now this is what corporations and the mega Rich people do, they either get people to work for them or they just get their money to work for them, so to keep their time free they make other people or other things give up their time so a company will come along.
A company will come along with a service, it will advertise its service it will then hire people. number one, it will get people to work for them and then those people will give up their time in exchange for a wage and the company will keep the money so the owner of that company.
Although the company owner has to manage things, his time is explicitly linked to income.
They get their money to work for them and if your money works for you it's even better than people because people need to be managed a lot more than money.
Money doesn't need to be managed money just works so if you have millions of dollars and you put them in stock or any growing asset will not only secure your millions of dollars but have them also continue to grow and compound over time. you're gonna be rich on the interest without doing anything.
So making your money make you more money, it is great but you could only live off this money if you already have a lot of money!
So let’s go back through and analyze, getting people to work for you is a complicated setup because you actually need to sell a product or service.
To get most people to work also you need to people manage so for a long period of time you're not going to have your time free, this is the first thing.
Second thing getting your money to work for you you need a lot of money to live off the work your money does!
You need a lot of money to get this to happen, most people don't have enough money to put their money to work to live off it now you still should put your money to work.