Want to make more money? Of course you do. Make time to think differently so you can discover new investment and business opportunities
In 2020, the S&P 500 closed up almost 18% for another record all-time high! This was despite the global pandemic crushing businesses and jobs.
Just think about this situation for a little bit. Is it not a little bit ironic that more jobs creates more stock market wealth, but once you have lots of stock market wealth you no longer have to work?
I’m reminded about the parable of the Mexican fisherman who gets ridiculed by an executive with a fancy MBA for why the fisherman doesn’t want more than his catch. The whole point about investing our money is so that our money will one day work so hard for us that we don’t have to.
Make Time To Think Differently
Here I am an unemployed guy looking for work as a masseuse’s guinea pig in Bora Bora and for what? To earn $25 an hour while getting rubbed down by some lovely lady on the beach after two hours of tennis and one hour of scuba diving? Forget that!
What I should be doing is spending my hours trying to uncover potential multi-bagger investment opportunities that people have overlooked. My biggest regret when I was in my early 20s was not having enough money to invest in this one stock that exploded by 50X in a matter of months. I’ll tell you about this story in a future post.
Risk-on is risk-on. People overbid like crazy for things in a bull market. Bubbles will eventually form, but before the burst you can make a ton of money in the process.
Everybody likes to talk about how dotcom millionaires went bust in 2000. I personally know a handful of dotcommers who did quite well. The same goes for real estate. We are talking millions of dollars in the bank before the age of 30.
Not everybody got crushed like the media makes it out to be. Those who succeeded in cashing out have quietly gone about their ways.
New Initiative To Make More Money
From now on I will spend at least 15 minutes once a week looking for investment ideas, publicly traded or private. I’m going to spend time thinking differently. I’ll alternate the time for new online entrepreneurial ideas as well. I’m not going to over promise by saying 30 minutes or 1 hour because I know that won’t happen.
Most of us spend too little time using our imaginations. We wake up, brush our teeth, get dressed, go to work, come home, eat dinner, watch TV, poop, and repeat the cycle over and over again.
Let’s make room for some meditation, some investment idea hunting, and some creativity. I bet if we set aside more time to think differently, we can do much more, be much more, and earn much more.
Ideas To Make More Money
* Is there a product you swear by that you use all the time? Perhaps it’s a publicly traded stock you can look into.
* Is a company in a foreign country replicating the success of an established player? Samsung vs. Apple, Yandex vs. Google, Hyundai Motor vs. Honda, etc.
* Is there something you are particularly good at or fond of that you can leverage into something more?
* Is there a problem that bothers you where you see a solution?
* Do you see something mediocre which you can do better?
* Where is fear the greatest? Some of the greatest opportunities come out of darkness.
Start your own online business
It’s been around six years since I started Financial Samurai and I’m actually earning a good passive and active income stream online now.
I never thought I’d be able to quit my job in 2012 just three years after starting Financial Samurai. But by starting one financial crisis day in 2009, Financial Samurai actually makes more than my entire passive income total that took 15 years to build. Blogging for a living is great!
If you enjoy writing, creating, connecting with people online, and enjoying more freedom, see how you can set up a WordPress blog in 15 minutes like min with my step-by-step tutorial. You never know where the journey will take you!
The net worth composition of the richest people all have business equity due to entrepreneurship. If you want to make more money, think differently by being a business owner.
Photo: A Mexican fisherman with a huge catch. 2021.