Just started reading this amazing book called: “The Richest Man in Babylon”. It started with some pretty amazing information about Babylon itself, for instance I had no idea that it dates all the way back to 8000 BC, and that it died off some time before Christianity emerged. Those tiny tidbits of information made me curious about Babylonian civilization, and pulled them further up on my radar. Seems that their history will be next on my exploration lists.
Lessons from the first chapter alone…
…are pretty valuable. While some paradigms, such as keep 10% of everything you earn might seem crude and outdated, I feel as if they hold a lot of power. Perhaps you don’t have to interpret it as saving 10%, but instead you could invest those 10% into passive income.
There is a certain way that I look at earning money, and I view it through passive income mainly. You need to have something that is “reusable” and that will let you grow. For the time-being I feel as if I am spending more time on Productivity Capacity alone, instead of productivity, so I am not earning as enough as I want to, but than again, my costs of living are at the rate of my spending.
But portion of my earning and spending is completely invested in my business. So does that count as saving? That money is making more money, that is certain. Completely passively. The very nature of content based business is strange. But I can say that slowly but surely I am building my financial future that puts TIME out of equation.
How wealth equals productivity?
Ultimately I don’t believe that the wealth is a goal in an of itself. Accumulating wealth and expanding yourself financially is a good route to enable you to accomplish goals from broader specter. Because when your finance aren’t sorted out, there is a crack in a balance between what you earn and what you want. Ultimately a lot of people living in western culture are acquiring wealth for others, but they gain material objects in advance of what they could afford.
Good example of it would be the loan industry, that is putting up interest rates and is taxing people for their desires. So instead of them saving 10% of what they earn to accumulate towards the things they need, they are actually giving up, up to 30% of their income in advance to banking cartels. Straining and stressing your income, furthermore eroding your chances of living debt free.
Wealth is pre-cursor of personal productivity. When you can leverage your finance, you will be able to free your time by making other people do the job instead of you. That is called outsourcing, and I cover it on AlphaEfficiency in great detail.
Ultimate productivity is achieved once you get others to work on your goals for you, and you collect the difference between your investment and revenue.
My goals are oriented to making a lasting change and leaving a legacy. These goals require a lot of finance in an of itself, so creating and deploying wealth is one of the main activities required for me to fulfill personal dream of financial independence.
Financial independence is not something you’re entitled to, it’s something you earn
We are giving the freedom to choose what we want now, and what we want later. Becoming financially independent is not something reserved for the elite, it’s something reserved for those who are willing and able to delay the access to the pleasures that are available to them.
It is a reward for those who have the discipline to live under their means, while their friends are partying. It’s a guts to invest in your knowledge instead of watching television. It’s the art of living under your means and slowly creating their freedom.
Financial freedom is in my Source Code
“My purpose is to become financially free and help others do the same, while maintaining good health and having a great time living and traveling.”
This is the excerpt from my Source Code, a simple document that helps me align with my values, and double check whether I am acting according to my own ambitions, dreams, desires and goals. If you didn’t write your source code so far, I highly advise you to do so.
The power of written word is immense and it holds you accountable. The fact that you wrote it, means that you have to follow up on it. It is a constant reminder on how you want to live your life. And you know when you aren’t true to your ideals.
But talking and teaching about finance is also in my book. Productivity is about doing the right things that will let you accomplish the lifestyle of your desires. Or at least improve your current lifestyle.
What are you doing in your life in order to achieve financial independence? What action steps and habits did you create in order to get there? Do you provide enough of value to the world around you in order to deserve your desired lifestyle?