The Game with Alex Hormozi
No BS Advice to Get Rich in the Next 10 Years | Ep 762
Sep 13, 2024
Discover how to become rich in a decade by prioritizing time over money. The discussion emphasizes the importance of smart investments of time and pursuing high-return endeavors. With cautionary tales about partnerships, learn how clear roles can secure financial success. Explore the link between mastering time and money for wealth creation. Embrace discomfort as a pathway to comfort, focusing on education, patience, and relationship-building. Real wealth comes from skill development and disciplined financial habits.
46:27
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Quick takeaways
- Understanding the return on time spent rather than categorizing income helps maximize financial success and minimizes wasted investments.
- Conscious spending, evaluated through the hours worked to earn money, leads to improved financial choices aligned with personal goals.
Deep dives
The Reality of Income: Active vs. Passive
The concept of passive income is often misunderstood; it's more about the return on time than about categorizing income as active or passive. Money is made through time, and everyone effectively trades hours for dollars, even if it isn’t always recognized. To maximize financial success, one should focus on the return on time spent rather than seeking quick, low-effort opportunities that often lead to wasted investments. A critical realization here is that what might seem passive could take much effort and time to establish, so maximizing activities that yield a higher hourly return is essential.
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