When Walt Disney was asked to explain the biggest problem in his life, he answered: “Money. I always needed more money.” When we think big picture about the ways in which we can make money, there are generally two positions:
(1) We can sell our labor for an hourly wage. If you make $10 per hour and work 8 hours per day, you get $80 pre-tax. Simple enough.
(2) We can run a business. In that case, the money we make is the difference between profits and expenses, adjusted for taxes. Again, simple enough.
The problem with both of these options is that they are finite ways to make wealth that involve the constant pressure to perform: when you are selling your time for money, you receive one paycheck and that is it. It is all finite. As soon as you spend that money on … Read the rest of this article!