PLACE Magazine Inaugural Issue, December 2022

Myth: My bills are covered; I’m good money-wise. Fact: You should make more money.

You might be thinking to yourself: “I’m good money-wise. I can pay my monthly bills. I’m comfortable. I don’t need more.” I can go through an entire list of people who felt the same way…until a loved one fell sick and everything changed. Feeling financially secure isn’t a lifelong guarantee, but you can surely be more confident in your financial future by always striving to make more money. Here are key reasons why this is important: For emergencies: You or a loved one gets sick. A natural disaster hits. You get into a big accident. We all assume that everything we have and everything we’re doing is going to continue as- is, but that’s not a realistic worldview. Things change, and they change quickly. And when they do, you need to be prepared. For opportunities: According to Warren Buffet, the greatest distributions of wealth happen in down markets. Chaos creates opportunities. Will you have the opportunity to be in the game when the next financial crisis hits? Do you have the capital to take advantage of a buying opportunity when the market is down? Deploying capital during uncertain times creates a path to serious wealth building. For leverage: When I was about 20 years old, I had zero money and a car clutch causing trouble. So, I went to my stepfather’s house to find tools, and spent the next five days figuring out how to replace the clutch. It would have made a world of a difference if I could have paid someone else to do it. Saving money isn’t always the secret. Sometimes you have to buy your time back. For legacy: It can be leaving your assets behind for your family, supporting your community, or tackling humanitarian challenges — it is your driving force to make more money. For memories and experiences: At the end of the day, making memories and sharing experiences with your loved ones is the most important part of life. And those experiences, more often than not, have a financial component attached. Quick exercise: Jot down a paragraph about a time when not having money has affected or hurt you in each one of these areas. Myth: Achieving wealth is too complicated. Fact: With education and a shifting mindset, the sky’s the limit. One of the biggest reasons people don’t achieve wealth is they think it’s unattainable and complicated. They may have negative emotions around money, or think that it’s about status. They may

“To me, wealth is the ability to do what I want, when I want, and with whom I want. It is interconnected with freedom.”


Made with FlippingBook - Share PDF online