Which Is The Greatest Asset?

What is the greatest asset

Which Is The Greatest Asset?

Today, I want you to think about which is the greatest asset?  Is it money or time?  You may have other ideas concerning assets, but I'm here to reinforce something you may already know.

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Money is not an asset.asset

  1. Money is a concept, an idea.
  2. It is a medium of exchange.
  3. Before money existed, people bartered.  They exchanged one thing of value for another.
  4. Money's value is subjective.  This explains why we hear the value of the dollar changing constantly against other currencies.
  5. The amount of money you make is only proportionate to the amount of value you put in the market.
  6. Your skillset can make you a lot of money, but that alone will not make you rich! (You will have to build a full-time business around that skillset and grow that business effectively.)
  7. People go back to school to increase their skills so they can make a lot more money.
  8. If your skillset becomes obsolete can you still make money?
  9. The middle class and the poor exchange their time for money.
  10. The wealthy have learned to spend as much money to gain their time freedom.

assetYour time is your greatest asset.

  1. Your time is finite.
  2. Your time is worth more than any amount of money, although on a job you're setting your time to be worth a certain amount of money.
    1. For example, at $100K per year, one hour is worth only $50!
    2. If you make $400K, your hourly rate is still $200!
    3. I know folks who charge $1000/hour and realize their time is even more valuable.
    4. How MUCH is your time actually worth?  (Don't try to lock yourself into a number!)
  3. When you value your time you'll stop watching television and start creating value.
  4. Don't let anyone waste your time.  (Run from time wasters!)
  5. You can never get time back. (Focus your time on implementing and testing.)
  6. Invest quality time in your spouse and children.
  7. Invest time in ideas that ultimately generate lots of money.
  8. Invest time in building relationships.  (Business is all about building relationships.)
  9. Invest time in your own growth, even if it's just one hour a day!
  10. TIME IS YOUR BEST AND GREATEST ASSET.

Listen to the Podcast above and let me know if this article was worth your time (Just comment below) as my passion is to share the value that I'm receiving through my mentors and teachers as I implement these principles in my own life.

 

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