The Money Podcast More Money Today (Vs. Money Tomorrow)
Do you want to have money today and even more money tomorrow? Discover the mindset needed to build wealth for today and for tomorrow. Learn why it’s essential to have a balance between the two, get out of your comfort zone and take a leap of faith. Hear why exchanging your time for money is still a valuable income stream and how you can build your future income wealth while still working today. Learn Rob’s key points on the value of money and how you can compound income streams to constantly and consistently increase your money.
KEY TAKEAWAYS[Text Wrapping Break]
- From an economic standpoint, there will always be more money in the world tomorrow because of inflation and as money erodes in value. There’s also loss, risk and bad debt that can occur so, conceptually it’s often worth cashing in today rather than tomorrow, especially if you’re a business owner or entrepreneur.
- Invest in assets - Property, art, IP and watches are examples of assets, which are steadily safe investments as long as they are increasing in value above the level of inflation. A good metric for this is a 5% increase in wealth.[Text Wrapping Break]
- How much time do you spend exchanging your time for money? You must have a balance of incoming money to pay your bills, counteract inflation and feed your family, however you must always be looking at what is generating you your money for tomorrow, this may be in the form of a business, investments or an idea that you want to curate into a business. Therefore you need to divide your time wisely, for this, you can spend 70% of your time on money for today and 30% on the money for tomorrow. The goal is to equal your money tomorrow with the money you’re getting today by exchanging your time. When you have achieved this you have replaced your income and you can go full-time into your idea, business or venture and compound that increasing money of tomorrow. [Text Wrapping Break]
- The risk of money tomorrow is that it is not guaranteed and it may actually come to nothing meaning you’ve exchanged a percentage of your time for nothing, however it could flourish into lots. The risk of settling for money today is that it will never be enough with inflation, increasing costs and the threat of loses. This is why you must have a balanced set of income streams. [Text Wrapping Break]
BEST MOMENTS
“Money today is guaranteed but money tomorrow takes a leap of faith.”[Text Wrapping Break]“Money today is comfort and money tomorrow opportunity but with a risk”
“Money today is the assets you already own and the existing streams of income you currently have, however, this was once money of tomorrow that has paid off”
VALUABLE RESOURCES
ABOUT THE HOST
Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” and “The Money Podcast” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage.
“If you don't risk anything, you risk everything”
CONTACT METHOD
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