#25: The Fallacy of a Salary

The experiences of a millionaire or billionaire.

This is what people think tons of money will get them.

We must be rich to Try Life On, right?

Nah... I disproved this fallacy a long time ago in my journey.

Truth is we don't need $20M to have such experiences.

I know because I've been living like a billionaire since my late 20s. You can too.

People think we need tons of money and time.

When actually what we need is some money and a lot of time.

And here's how to get it.

__________

I learned in my 20s to disregard the status quo plan of careers. I learned don't chase titles for the sake of titles. Becoming a Partner at my firm was not my goal although all my colleagues were racing towards it. I ignored it. Through self education I shifted mindset to the following:

THE GOAL AT WORK IS TO USE SALARY TO CREATE AN INCOME.

__________

A major purpose of a salary should be to create income.

It should be a goal for the first 10 years of career. That's what the college professor should have told us as we walked across that stage to get the diploma.

So when I speak at the Auburn University Harbert School of Business on May 3rd, I'm going to tell the students what no one told me.

Here's my speech summed up in three points:

1. Now that you have your degree, use it to get your salary. Get hired.

2. When you get your salary, use it to build streams of income. Buy assets (real estate, stocks, self education, businesses) systematically. An asset (in this context) is anything that will pay you perpetual income or the self education needed to do it (i.e. seminars are an asset).

3. Build enough income to cover your basic needs. Once you do, you're free to live life your way WITHOUT having to follow societal norms or abstract versions of success (i.e someone telling you being Executive VP means you made it). It allows you to focus on passion projects, life experiences, and plugging into the world as you were initially intended WITHOUT being beholden to an employer.

Not understanding this concept? Watch the video.

Intention, basic intention, is all you need for freedom.

If people understood this distinction earlier in life, many would be free of the 9-5 rat race in 10 years or less.

This is exactly how I became free in 2014 after starting my career in 1997.

I was always building (buying assets) while working. I never really cared about climbing the ladder. Simply put, I leveraged the 9-5 more than it leveraged me. And there is no reason you can't do the exact same.

__________

Here's some definitions to help you.

Degree - the tool you earn that helps you get a salary.

Salary - fixed income from an employer in exchange for services

Streams of Income - perpetual pay from a variety of sources (investments, rentals, royalties) accelerated by salary.

Use these definitions as a part of your framework for designing your life.

__________

I say this frequently to my coaching students.

That degree on your wall is cool.

Nothing wrong with formal education.

But get a PhD in Freedom.

I just gave you some tools how.

Hope this helps you Try Life On more.

Maurice