Monday, 26 June 2017

The 10-10-10-70 Principle (Part Two)

Money Generator
The third, of the production lines, is the 10% Investment/Active Capital. It is similar to the second, in that it is another way by which we pay ourselves. The difference between the two is the way they are applied. Unlike the savings, where we look for a relatively secure account, here we are more actively involved in its application.
"Financial winners don't run sprints, they run marathons. They don't rush. They do it step by step over time." (Dave Ramsey)
This is the portion we use to generate streams of income (other sources, other than our primary). There is a whole wide range of opportunities (avenues) we can apply this (Investment bucket). These include stocks, mutual funds, personal loans, business, trade, real estate, etc. The key thing is you are looking for new avenues of money generation. Here, you are allowed to up your game at the risk level.
"It is common sense to take a method and try it. If it fails, admit it frankly and try another. But above all, try something." (Franklin D. Roosevelt)
There are no guarantees. You just do not want to lose more than your (inner) “strength” can handle. You don’t want to lose what will take you out of the game. Losing, here (investment bucket), is not altogether bad, for with every loss you gain experience. And, with each experience gained, you become better at the game. The fear of loss is what cripples a lot of people. They are so scared of losing they do nothing. And, as you can imagine, their situation is no better. That which we do not confront only becomes bigger and out of reach.
"The fear of loss is what cripples a lot of people. They are so scared of losing they do nothing." 
"Fail Early And Responsibly"
Life is about confronting issues, not running from them. You lean into life, not pull away. That is the way to live. Victors are not escapist. So, what do you gain by taking the plunge today, as against waiting till next week? You gain one week. You gain time to make the right adjustment for the next plunge.
"Nobody ever wrote down a plan to be broke fat, lazy or stupid. Those things are just what happens to you when you don’t have a plan." (Maerlan Rico Lee)
The more you delay taking the plunge the more time you lose. And guess what, time is a limited, irreplaceable resource. What do you gain by taking the plunge today, as against waiting till next week? You gain one week. You gain time to make the right adjustment for the next plunge. You break the inertia, get into the groove, and begin to build momentum.

Never Lose Your Momentum

Momentum, not mere action, is the secret to success in anything you lay your hands on. It is all about the habits you inculcate and make second nature to your personality. One habit (discipline) leads to another, which leads to another, forming a tightly bound chain in producing the person who attracts the goods. The more you delay taking the plunge the more time you lose. And, guess what? 
"Momentum, not mere action, is the secret to success in anything you lay your hands on"
Time is a limited, irreplaceable resource. The more you delay, the more you become lost in analysis paralysis. There are things you will never learn until you step out. You are not going to be perfect on the first day. No one is ever perfect on the first day. And, that is okay. That begs to repeat. It is okay not to be perfect on the first day.
“The rich invest in time, the poor invest in money.” (Warren Buffett)
It is okay not to be perfect on the second day. It is okay not to be perfect the third day, and so on. It is, however, not okay remaining the same. You have to be better each day than you were the previous day. There is no compromise on that if you want to win. Life is not looking for you to be perfect, nor indeed can you ever be, on this side of eternity. Life just wants you to deliver, learn, and grow.

It is okay to fail your way to success. In fact, that is the only way there. Losing is a part of the process of winning. There is no true success in life without the story of a failure somewhere in between. Those failure points are what we call “defining moments.”
“It is in these moments that we find our true characters. We become heroes or cowards; truth-tellers or liars; we go forward or we go backward.” (Robert T. Kiyosaki)
The only place of safety in life is the place of continually moving forward. This, in a rather paradoxical manner, differentiates the rich from the poor.

While the poor look for safety, the rich are out looking for new opportunities. While the poor are all focused on pension and retirement, the rich are all focused on financial independence, abundance, and leaving a mark for good. While the poor are all focused on the cost and difficulty, the rich are all focused on the reward.
"To obtain financial freedom, one must be either a business owner, an investor, or both generating passive income, particularly on a monthly basis." (Robert Kiyosaki)
Isn’t it sad to see people who after their retirement age still have to work, or depend on others – persons, organizations, or government? The big questions at that point include, “what did you do with your life? What did you do with your seed? What did you do with your youth?” 

May this not be your story. The time to start making adjustments is today. Take the plunge!

© 2017 Akin Akinbodunse

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