Value Your Time And Be Patient
Learn to value your time and be patient. Great things take time to build. Being able to know the value of your time and being patient goes against the instant gratification of society.
In a society that wants everything now, learning to value your time and patience is critical. Building anything from a career to your net worth to reaching a health goal takes time. Learn to love your time and be patient. Patience can be an asset over the long term.
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Patience Is A Virtue
In a society that wants everything now, the virtue of patience is looked down upon. Patience can help you with your money. Learn to wait one week before deciding to make a want purchase. Patience can help you with goal-setting. Major accomplishments do not happen overnight. They take time to achieve. You can be patient when learning new skills. It takes time to develop and become proficient in a skill. Patience is required to invest in yourself. Society wants you to focus on others rather than focusing on yourself. By investing in yourself, you can become the best version of yourself over your lifetime. Time is required to learn what your interests and skills are.
Be patient. Develop self-control. Self-discipline can help you to reach your goals. Good things take to build.
Invest In Yourself
Society wants you to focus on others. The problem with always spending time and pleasing other people, you delay reaching your goals. The best investment is in yourself. You have your entire lifetime to learn about yourself. You can allocate time each day to invest in yourself. This is time dedicated to self-improvement and working toward your goals.
There are different ways that you can focus on yourself. You can develop skills. You can work to increase your income. You can find ways to make money from what you are passionate about. You can work to reach your full potential. You can continue to focus on self-education.
The best investment is in yourself. The sooner you realize this, the faster you can achieve your goals.
Learn Skills
It takes time to learn skills. You want to know what your primary skills are. Often time, people focus on learning as many skills as possible. This makes people a master of none. You want to become a master of whatever you are most skilled at. There may be overlapping between a core skill.
For example, my main skills are writing, analyzing, and synthesizing information. Those are the skills that I am best at. I spent too much time focusing on areas that were not naturally a fit for me. I originally wanted to be a lawyer, so I studied political science in college. I later became interested in technology since it was the hot field. I decided to attend graduate school for Information and Cybersecurity even though I did not have any background in tech. I was the only student without an experience in IT. That was a major red flag looking back.
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Maximize Your Potential
Once you know what your skills are, you can work to maximize your potential. You can hone a skill. You can direct your time and energy to achieve something you have always wanted. You may have always wanted to make money online. You may want to be lean or have a six-pack. It does not matter what your objective may be.
You are responsible for incrementally working to become the best version of yourself. Become one percent better every day.
Earn Yield Over Time
The power of interest and yield is that they compound over time. The longer you leave money in a savings account. The more you will have. The opposite is also true with debt. If you have credit card debt, your debt is compounding at the high-interest rates that credit card companies charge. You want to have the positive power of compound interest to help you increase your savings and investing.
You can keep your emergency fund in a high-interest savings account. This will help it to build faster.
You can also earn yield in the stock market. You can have a yield in the stock market by owning a stock that pays you a dividend yield. You can reinvest your dividends in a stock that you already own. This allows you to purchase more shares of the stock. This is called the drip method. Another way to yield is by owning shares in a stock you bought low and selling at a higher price.
Another way to earn yield over time is by owning a business. It can take time for a business to figure out a product or service to sell. A business will then earns profit from each sale. For example, let’s say that a business sells a book for a revenue stream on Amazon. The book is a 5x8 inch paperback with 160 pages. The book retails for $14.99.
The business would earn $6.07 in royalties for each copy sold on Amazon. Below are some numbers based on Amazon’s estimated royalty for the theoretical book below:
$6.07 x 1 = $6.07.00
$6.07 x 100 = $607.00
$6.07 x 1,000 = $6,070.00
$6.07 x 10,000=$60,700.00
$6.07x100,000=$607,000.00
A book is only one way a business can earn revenue and profit. A business can compound faster than the previous two examples. It is worth mentioning that these move from least risky to most risky. A savings account is the least difficult way to earn yield. Owning a business and having a product or service is the most risky, but you can make the most money if your product is successful.
Build Up Your Net Worth
It takes time to build up your net worth. You may be working to move up in the company you work for. You may want to move up in your career field. You may be working to increase your net worth by looking for ways to make passive income. You may want to be in charge of your own online business. The point is that you must be patient.
You cannot have a prestigious position at a large company or be in charge of a profitable online business overnight. It takes time to reach those things. You will likely experience many difficult times in whatever you do.
It takes time to increase your net worth. It is a long game. You want to find ways to save, invest, and build your wealth. You want to find ways to double your money every year or two. The best tool to do that is by owning a business. You can always release a new product or service to customers. In the age of the Internet, someone can find your product by entering a keyword on the Internet or Amazon.
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Summary
Modern culture wants everything to be immediate. Patience can help you to acknowledge that the best things take time to build. The power of time is shown with compound interest in your savings account or with stocks that give you a good yield. Ultimately, the best invest in yourself.
You are responsible for achieving the goals that you want over your lifetime. Be patient. Build what you want to accomplish each day.
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