Is your MONEY employed? Or unemployed?
Hey! It’s Friday! For many of us who earn weekly paychecks, that means PAYDAY.
But what about your MONEY? Is your money earning a paycheck?
That’s right, take a second and picture your money as a little worker bee. When it wakes up in the morning, does it have a full time job? Or even a part-time job? Or (gasp) is it unemployed?
If it does have a job, what kind of job does it have?
A minimum wage job, where the paycheck barely covers living expenses?
A mid-level job, wearing business casual and eating lunch in the break room?
Or has it reached baller status? With a 6-figure income, driving a fancy car, going out to nice dinners, the rich life?
This is a great analogy that came to my attention while reading Gary Keller’s book “The Millionaire Real Estate Investor.” I have always said to my wife “I want our money to be working harder for me, than I do for it!” A long time ago, I literally walked into my Fidelity investments team and told them ‘Team, we have got to get our money working harder!’ I just never thought of it in such tangible terms as ‘a job for my money.’ Because what this helped me realize, is that when my money is in a bank account, it’s unemployed, doing nothing with itself. When it’s in the stock market, it’s more like a worker who takes his paycheck to the casino, sits down at the table, and gambles. Sure it may win sometimes, but sometimes, it loses too! That’s not a ‘job’ per se. At a job, your money would be working for an agreed upon wage, that it earns, week after week, month after month, year after year.
So I want my money to go to work, and earn that kind of paycheck.
These days, I put my money to work buying and owning real estate. Its job is to buy the properties, pay property management teams, pay maintenence teams to keep up the properties, and advertising units as they come available, and many other daily duties. And in turn, my money’s ’employer’ pays it back with rent checks every month. My money is working pretty damn hard, not quite that ‘baller status’ yet, but it’s my goal.
How about you? Is your money working every day? Does it have a job that pays out every month? Or is it unemployed? Sitting stagnant in a bank account or gambling on the stock market?
Feel free to respond, I read every email and would love to hear how you’ve put your money to work.
If you’re interested, my partners and I are constantly sourcing new real estate deals to put your money to work. I’m happy to talk about what opportunities I have available.