A Facebook friend asked me recently the question “What is the best way to make the most money legally in the shortest time?”.
My comment was: “Work hard, smart and most importantly enjoy what you do. You will make the most money but not necessary in the shortest time.”.
On further reflection, I find the need to tackle the question itself in greater details…
The main considerations I have with the question are:
- Who are in a hurry to make more money?
- Why do they want to get rich quick?
- How to make most money in the shortest time?
You will agree with me that most of us, at one time or another, had wanted to make quick money for reasons best known to ourselves.
The reasons to want to make more money quickly can range from urgent necessity to meet life’s challenges, to impatient greed.
These essentially answer the first 2 of the 3 considerations.
Let me now dwell further on the third consideration: “How to make money in the shortest time?” by breaking the question into 2 parts:
- How to make the most money?
- How to be *wealthy in the shortest time?
*Wealthy is defined as having no financial worries and the means to satisfy not just our needs but our wants.
1. How to make the most money?
Hard work alone does not guarantee that we can make the most money.
The fact is that many of us are living from paycheck to paycheck. We may be working hard, but we are not getting ahead, instead, we are just getting by. Some of us may even be facing the prospect of pay-cut, retrenchment or lay-off.
Ever wondered what will happen if you lose your job or the ability to work tomorrow?
According to statistics from the US Social Security Administration, at the retirement age of 65:
- 54% are broke,
- 36% are dead,
- 5% are still working for a living,
- 4% are financially secure,
- and only 1 % make the most money and become wealthy.
This means only 5% of the work force ends up being financially successful while 95% retire more or less destitute. Interestingly, it is the same with trading where only 5% of traders are profitable!
While some top-paying execs, doctors, lawyers and stock remisiers etc., may make $1 million or more a year, many do not.
If we aren’t among the handful of professions that earn big money, then we need to do much more to prepare for our retirements like:
|living well below our means|
|avoiding and getting out of debt|
|saving and investing wisely to protect the little money we earn|
As wage earners, we get paid only when we are working. When we stop working, our active income also stop!
We are essentially trading our time for money. Since our time is a limiting factor, it is impossible to become wealthy in the short term!
In summary, working hard for active income may make us financially sufficient, but it demands lots of sacrifices and take a long time to accumulate our wealth.
2. How to be wealthy in the shortest time?
Now that we know that trading our time for money is the limiting factor to become wealthy, what can we do about it?
The answer lies in working smart for passive or residual income .
Working smart is when we can overcome our time limitation by leveraging the time of others to create wealth for us.
Leveraging is not exploitation. If it is, then the successful businessmen and the CEOs who are compensated handsomely for multiplying the wealth of their businesses by leveraging on the time of their employees will be termed as exploiters!
Passive income is income that we will get over and over again for the work that we need to do only once.
The royalties received by pop-singers whenever their songs are purchased or played in public is an example of passive income.
Rentals from properties is another source of passive income provided we have the means to own them in the first place.
Profit derived from network marketing and affiliate program are other examples of passive income.
The good news is that the Internet and the social medias like Facebook have helped level the playing field for the men-in-the-street to compete with the big boys. Opportunities are abound in this new economy that require little or no money to start and build an online business like Atomy.
The key to success is choosing the right network marketing program and company to build your networks.
The smart entrepreneur would want to choose a strong company with products that are always in demand and a fair and rewarding program that will generate passive income consistently and increasingly over time.
Doing so, will allow this entrepreneur to extend his/her time limitation by building up a sustainable business that leverages on the effort of others just like the traditional businessmen and CEOs but with no capital outlay!
Many ordinary people like you and me are already surfing on the Atomy waves towards healthy, wealthy and happy retirements. Shouldn’t you?
Find out Why Atomy? is the right company and program for you to also Catch the Wave and Retire in Style.