It is a shame that school does such a poor job at teaching us how to learn. By the time we finish school, we decide that learning is not an essential part of our daily routine. We may continue to grind to get a higher degree, but money is the reasoning behind that.
As a provider, I fell into this camp as well. I’ll be honest, I have never taken a college course in my life. I joined the military after high school in 1999 and haven’t looked back. However, I make a decent wage in the military ($140,000/year), so I have used the military as my wealth generator.
Even making a large sum of money at my earned income job wasn’t enough money for my wife and me to do what we needed to do. My wife is from a country named Turkmenistan, and if we stood any chance of seeing her family, we needed to make more money.
Being Unique Sells
Once we decided to expand our financial options, our next step was to learn what the heck to do. That was two years ago, and we have never stopped the learning process since then.
You see, learning is the only way to become wealthy—learning is the only way to stay rich. Every day the world of finance changes, and if you aren’t aware of the changes, you can get life behind. As we learn, we tend to feel that we get “lucky” with money. But, luck is the result of education + opportunity + action.
Without education, the opportunity never arises. But does this mean that we have to get ten masters’ degrees to be successful in life? Sure, if that is what you choose to study. I, on the other hand, want to study cold hard cash.
I want to learn how to make money while I sleep. If you are the provider in your household, ask yourself one question. Am I making money while I sleep? No, I am not talking about having a salary. I am talking about passive income.
Every day you should be more prosperous than the day before. I talked on the phone with my wife the other day, and someone read my entire 1,250-page book, “The Biggest Book on Passive Income Ever!” One reader produced $8 in book royalties, and I told my wife we made $8 while we spoke on the phone. That is the magic of passive income.
$1,000 Dividend Shopping Spree
But I can’t just learn about money; I need to learn how to learn. The book “Limitless” teaches about improving hard skills such as memorization, speed reading, and critical thinking. By enhancing our learning process, we can absorb and retain more information. More information equates to more money.
Why are learning, knowledge, education, and information retention so important? Because if you cannot combine multiple data points and form your own conclusion, you will always be reactionary. You want to put yourself in a position to be an investing insider, not on the outside.
For example, let’s say the Federal Reserve came out tomorrow and raised the Federal Reserve rate to 5%; what would you do with this information? First off, why did they do it? What does it mean for interest rates, bonds, REITs, stocks, growth stocks, dividend stocks, savings accounts, mortgage rates, rents, cryptocurrencies, business lending, etc.?
If you can’t answer these questions, how do you expect to get rich? Robert Kiyosaki, my favorite author, tells us in “Rich Dad’s Guide to Investing” that actual investors make money in all situations. When the market is down, they leverage information and knowledge to produce wealth; they do the same when the market is up.
Start Your Debt Payoff Journey
That is why we must take a lifelong approach to learning. My favorite Robert Kiyosaki book is “Unfair Advantage” where he gives in-depth thoughts on knowledge, debt, taxes, risk, and compensation. Reading this book allows me to absorb a lifetime of his experience and leverage it in my life. Imagine if you read 3-4 books a month?
The more I read, the more money I make. The key is connecting education, training, information, and leverage to make predictions and take action that will make you rich. Let’s look at an example.
I have an Amazon book publishing business, where I publish ebooks almost daily. I use my education on consumer habits to know that Black Friday to New Year’s is the biggest spending time of the year. I have training on how to write, design, and publish books. All my current information points to cryptocurrencies being the hot topic going into the New Year. I can leverage my book-making business because I am an insider, which means I control time and money.
Using all of these things together, I can create a book called “Have a Merry Crypto Christmas.” (Thanks for the idea, by the way.) Can you see how all these things come into play together? I wouldn’t be able to write about cryptocurrencies if I wasn’t reading about them. In fact, I just finished a new book on crypto called “How to DeFi -Beginner.”
Accumulate Your First $100,000
Do you start to see how the rich stay ahead of everyone else? They use trends and information to make predictions on where (and how) to make money. They can walk the streets of a downtown city and understand that the city is missing an Italian restaurant. They don’t just start an Italian restaurant because they want to. They see that there is a “gap” in the customer choices. They aim to solve other people’s problems at a profit.
How do you become a lifelong learner? Easy, you start reading every single day. No, not romance and mysteries. Well, you can read those; however, you need to read wealth books first. I focus on financial mindset, retirement planning, investing, cryptocurrencies, real estate, and business.
I know it is tough to build a habit of reading, maybe the most challenging thing you can do in life. School made us dislike reading and learning because there was always a right and wrong answer. However, in the real world, there is no right and wrong answer.
There is only rich and poor—which one do you want to be? My wife and I have zero debt, three houses, a $180,000 dividend portfolio, and a growing library of income-producing books. We are just getting started; I turned 40 years old five months ago.
Can You Achieve Work-Life Balance?
I want to be rich with passive income! Not because I want a fancy car or to take fancy vacations. No, because you need money to buy your time and your freedom. If I want to see my kids and grandkids throughout their lifetimes, we, as a family unit, need the resources to make that happen.
Work has robbed us of too much of our time together as it stands. Why would I knowingly sign up my kids and grandkids to work 40-50 hours a week for 40 years with some nameless, faceless corporation? Passive income is the key to keeping strong family bonds and connections.
And learning is the key to passive income. I wrote a couple of articles on reading “The Succeeding in Reading (book)” and “54 Takeaways from 54 Books.” Learning is now a vital part of my life, and it will be until I pass away. As much as I love Netflix, Nintendo Switch, and drinking beer, the most important thing is ensuring my family has the means to survive without working a job. That is my role as a provider and lifelong learner.
- Free PDF Downloads: Download FREE PDF books here
- Financial Mindset: Become CEO of Yourself (book)
- Retirement Planning: Retirement Planning at Any Age (book)
- Investing: How We Plan to Retire on Dividends (book)
- Cryptocurrencies: My First Book on Cryptocurrencies (book)
- Real Estate: Financial Independence through Real Estate (book)
- Business: Retire Rich, Retire Comfortable with a Business (book)
- Everything plus way more: The Biggest Book on Passive Income Ever! (book)
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- Read My Books for Free: Free Kindle Books Schedule
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- My first Children’s book: A Child’s First Book on Passive Income (book)
- Book Reviews: 54 Takeaways from 54 Books (book)
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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