However, from my experience working smart or rather finding ways to make my money work for me increases my financial barometer better and faster than working hard on its own. Working hard, if you’re lucky, simply opens doors. Working smart allows you to recognize which door to walk through and gives you the courage to walk through them.
In all honesty, I have never met a financially stable person who “worked hard.” If you consider the big names out there, people who are wealthy, they did not get to where they are by simply working hard. Working is something that we all do. But some people work smarter than others.
Now being told that working hard won’t get you to where you want to be financially can stir up some controversial feelings.
But here are 3 examples of how people made their wealth without working hard.
1. A number of farmers who bought farmland property at a low price are now millionaires. They earned that money not by working hard on the farm, but because the property appreciated.
2. Rental or investment property. A trend in the UK right now is to buy rental property in both the country and city. The buyers then rent out the property that they are not currently staying in. This, of course, has been done for years all over the world and has made people millions.
3. Royalties. Getting paid over and over again for a book, movie, song, etc is how most celebrities make their money. Imagine if you were paid every time the song “happy birthday” was sung.
People who are wealthy are smart about the work they do. They look for ways to get their money to work for them. They invest, they pay themselves first, they grow their savings, they research and plan opportunities that will generate a passive income. And by and large most wealthy people have multiple streams of income that operate without much effort on their part.
Hard work does not actually play a key role or guarantee financial success. It may help, but it is not certain that because you worked hard you will reap the benefits. Putting in a lot of hours, sweat and tears are all fine but putting in a few hours to develop a good financial IQ is better. Knowing how to manage your money plays a larger role in obtaining financial wealth.
Wealthy people tend to view money as more than just dollars and cents. They view it as a tool. This means, that as a tool, money can be used in a number of ways to help you gain stability.
If you were to look at money as more than just dollars and cents, and started looking at it in terms of what it really is, you would quickly realize new ways to gain wealth. Money is a tool. And tools help us work; they don’t force us to work harder. Those who work too hard for their money often view money as something to spend rather than something to work with.
However, when you work with your money instead of for it then wealth becomes an attainable possibility and not just a pipe dream.
Developing good work ethics is a good idea. I’m not saying don’t put in the hours to make your dreams come true but be smart about the way you work.