Your Greatest and Best Tool: You

The journey to wealth begins within yourself

Many people dream of making a lot of money and get fascinated by success stories. But, analyzing it coldly, what exists is a simple formula — though laborious.

To make more money, you first need to invest time and energy in what is your best tool in the journey to wealth: your income sources.

My first financial lesson

I still remember my first salary in 2009: $150. I thought it was very unfair for how much I worked. When I received the money, I felt two things:

1. Great! I received my first salary
2. I need to find ways to increase this amount

Since I didn’t know how to increase my salary, I went to the place that seemed most sensible: the bookstore. I asked the salesperson: “What book should I buy to succeed in life?” He immediately recommended: The Art of War.

Empty the cup before filling the next one

I started devouring the book on the bus ride home. I read tirelessly. The main lessons were: resilience and strategy. I intended to use these two newly learned qualities to increase my salary.

I studied all the manuals from my job and always did my best within my work hours. It didn’t take long and I got promoted. As a result of the effort, my salary increased for the first time in my life.

Later, I began applying this technique to everything in life. I learned that to increase my salary, I depended on the quality and quantity of service provided, combined with a positive mental attitude. I never stopped reading, never stopped trying to improve my earnings.

The lesson I want to share

Focus, first, on evolving yourselves. Understand yourselves first. You need to earn as much as possible where you work. If it’s not possible, maybe seek other places or… advance to phase 2.

“Know yourself, improve yourself.”

Then… divide the water

I’ll call the second phase “dividing the water”. Once you increase your salary and start accumulating resources for the future, you’ll be qualified to think about a second income source.

The secret of the truly wealthy

Contrary to what many people think, the richest people I’ve met exploited one income source to the maximum. When it was no longer possible to scale it, only then did they begin to structure and think about the next income source.

I believe this is much better in terms of energy. If you have two income sources that together yield $4,000/month, it’s better than having 10 sources of $400/month each. This is because the time and energy needed to manage the 10 sources are much greater than just two.

Question for reflection: Do you want to work 60 hours a week or 30 hours? Think about it.

Put the soldiers into battle

Once you’ve learned to increase your salary and empower your income sources, now it’s time to do the simple things well. Let’s put each soldier (penny) to work.

Precision is fundamental

You need to have precision about what, when, and how you’ll make these investments. Many people think that to make money it needs to be something complex, when in reality they could start with something they really like and stay there for a while.

Dollars, gold, bitcoins, and businesses — only you know what makes you comfortable and secure to invest. So, choose wisely and start investing in something. You don’t need a PhD, but the minimum necessary about that business is already worth it.

Dotting the i’s and crossing the t’s

Formula summary:

Phase 1: Learn to increase your salary. Use all the tools that appear along the way.

Phase 2: After earning as much as you can, think and calculate to generate another income source.

Phase 3: Diversify little, but in assets that generate the maximum possible income.

Phase 4: When you can, put all pennies to work and bring one more home.

Phase 5: Repeat the formula and be happy!

Resumé

Your greatest and best tool is yourself!

The journey to wealth begins within yourself. Many dream of fortune, but few understand the path. Forget the miraculous stories — the secret lies in a simple formula that requires dedication: investing in your income sources.

Remember: to prosper, you need to improve yourself first. Dedicate yourself to your work, extract the maximum from it. If it’s not enough, seek other opportunities.

The important thing is to start, with knowledge and security. Repeat the formula and achieve your financial independence!