The wealth bucket ??
The wealth building process can be likened to filling a bucket with water. The fastest way to fill the bucket is to pour in more water (multiple sources of income) and reduce the leakages (expenses).
But even with the same amount of water pouring in, you can increase your wealth by simply plugging the leakages.
Now, you can't fill the bucket without some kind of water source. So you have to trade your time, skills and experiences to solve a problem or meet a need in return for some kind of wages. In short you have to work! Then you can start the bucket filling process.
Remember we all have different buckets in life. So don't get jealous if someone else has a bigger bucket than yours. Just focus on filling your bucket. And once that bucket fills, you can get a bigger one.
Also, the bucket typically takes a while to fill. It will not get full overnight. But with time and patience you'll definitely fill the bucket.
Cheers!
The Money Engineer ??
Director Tax & Advisory at JIT Advisory Services
10 个月Great simple reminder . Thanks