I interviewed more than 4 experts, millionaires and influential people.

Many of them are worth more than 5 million dollars, and many more are experts in creating and increasing income.

Besides, I have built a prosperous and profitable business for myself, and made enough money (if I want to) so that I can retire and spend the rest of my life traveling.

These are the lessons I have learned in my own wealth accumulation process, and I believe they will have the greatest impact on your wealth accumulation.

1. Don't save for a rainy day, save investment assets

Most people save money for a rainy day.

This is the wrong way ...

Of course, you should reserve 3-6 months of living expenses to maintain your life.

But most of your savings should be invested to create wealth.

This is a transaction ...

With $1, or even $1, in your savings account, you may get 1% interest, but this will not change the rules of your game. Considering that inflation is increasing by 1-3% every year, even if you are "saving money", you are actually losing money.

However, putting the same money into the right index fund, real estate transaction or business can help you get a return of 1%, 3% or even 1% on the basis of the original principle.

the money saved is only enough to last for a few months, and then all the extra capital is invested in assets that can generate cash flow, that is, assets whose value can increase exponentially over time, or better still, both.

if you have no assets, you are working in other people's assets.

2. You can't get rich by saving

If you spend 3 hours a month cutting coupons, negotiating to save $1 a month on your cable TV bill, or spending the whole afternoon fighting in court for your $5 parking quotation and looking for thrifty change, you can cut spending by $5 to $1, a month.

but at a certain point, you can't cut costs any more.

However, there is no limit to the amount of money you can earn. The same 3-odd hours can help you earn an extra $5, $2, or even $1, a month.

with this model, you can have your cake and eat it.

I don't believe in getting rich by saving. I believe that you have a cash surplus every month to create so much value, so it's not even a problem.

You can live the life you want, enjoy the pleasure of your guilt, and still have enough money to accompany you through the most difficult times and invest in profitable transactions.

the most important thing you should care about is saving time. Avoid doing stupid things that will not add value to your life, and avoid wasting your limited energy.

3. Passive income is 1 times of working income!

this is difficult to grasp, especially for high-income people.

every dollar you earn passively is worth 1 dollars you earn through trading time.

when you generate passive income, you create the ultimate form of freedom.

Let me ask you ...

Would you rather work 7 hours a week, earn $12, a month, and work hard to support your family?

or $4, a month, and you can get it without doing anything (or very little).

when you consider factors such as stress, time, energy, family and lifestyle, the answer should be obvious.

once your passive income is $4,/month, nothing can stop you from working 1-15 extra hours a week, raising the overtime pay for passive income to $8,, then $1,, or even higher.

I don't think it is healthy to stop working completely and do nothing, because you have passive income, so I suggest you spend a few hours every day doing what you like and gradually increase your passive income.

when you use your own time and work by yourself, and the pressure is low, you will be surprised to find how fast your passive income has increased. In these 1-15 hours, you may have finished more work than you have worked for others for 7 hours, and these jobs are slowly killing you.

This is actually a kind of fun, just like a game, how many passives you can add every month.

The sooner you make your money work for you and generate cash while you sleep, the sooner you can live the life you want, reduce your stress and possibly live longer.