The new shift to an entrepreneurial mindset is leaving most people behind. America was once a land of pioneers, innovators, and business people.
However, the industrial revolution brought us out of the farms and small towns and into the city. Then, corporations and governments introduced the pension system.
The pensions were lavish. Defined benefits, or pensions, were great for workers. You gave 30 years of your life to your company or government, and they ensured your welfare and payment for the rest of your life.
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There was one big problem with pensions—they became too expensive. The main cost factor was medical coverage. People started living longer and costing more to keep alive.
Introducing the 401K plan. Companies and governments wanted out of the healthcare game and introduced the 401Ks or defined contribution plans.
The 401K system puts the full responsibility of saving for retirement on the worker. Sure, employers can contribute 5%, matching the employee’s money, but it isn’t enough.
One major problem with the 401K plan is that people don’t know how to save or invest. The education system taught us to be employees and spenders, not savers and investors.
They pulled the rug from under us. If you talk to most people in their 40s, they have no plan for retirement and no idea how to start. People in their 60s are almost 100% dependent on social security.
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Folks in their 20s have an entrepreneurial mindset but need more information to put it to good use. All this PLUS we live in a spending-based, consumption-only consumerist nation. It’s all a lot to take in, but let’s establish a baseline.
You need a job. First things first, you need a job. You’ll know when you can quit your job for good. However, you will need to put many things in place first.
Your job is not enough. I repeat, your job is not enough. This is the part that most older adults have a problem understanding. You need more income streams than your job alone.
What is hustle culture? Young people understand that their jobs are not enough. They are doing side hustles, freelancing, creating content, and working multiple gigs.
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The media brands this as hustle culture because it seems that everyone is always busy trying to make money. Therein lies the problem.
Don’t hustle for money; hustle for assets. To replace the pension and 401K mindset, you have to think in terms of assets, not money.
What is an asset? An asset is something that makes you money without needing you. Rich people accumulate assets (books, houses, businesses, stocks), and poor people gather liabilities (cars, loans, boats, clothes).
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The pension and 401K mindset allowed people to forego these simple principles. The pension mindset especially prepared people to live off the government or company resources.
Now, the people living on pensions have nothing to offer the younger generation. Their only advice is to “go get a government job.” Sadly, those days are over. We must now hustle for assets.
Collecting assets is fun. You can create assets from thin air while doing what you love. It sounds like a dream come true, right?
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What are you good at doing? What can you do every day and not consider it a chore? That is your ticket to wealth and happiness.
To create assets, you have to think from the 4th dimension, meaning someone wants to learn what you know. You have the information; how do you share it with others?
Designing book covers. I started writing to pass on information about creating passive income streams. Along the way, I started designing book covers every day.
Six months ago, I started recording myself while designing book covers. I have over 180 videos of me designing book covers on my YouTube channel. These videos are assets.
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Not only can I eventually make money from people viewing my videos, but they also serve as a calling card—what we call social proof.
Hustle culture needs to be about consistently doing what you love and documenting it. If you love to bake cakes, record yourself doing that.
If you love doing hair and nails, take pictures of your finished masterpieces. When you start collecting your drawings, recordings, speeches, conversations, photos, and artwork, it shows people how well you can perform these tasks over time.
Everyone has something to offer. Do you play video games, study well for tests, run daily, lift weights, or wash your car well?
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Ideally, you would have a day job to pay your bills and save a little money. Then, you would find another hobby, skill, or talent you can exploit to share with others.
Trust me; if you document something daily, you will slowly become creative. If I can do it, you can. I started with the pension mindset; now, I view myself as a content creator.
Shift away from hustling for money. For young people, think about the long term. You must establish yourself as a thought leader, entrepreneur, or mentor.
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You can achieve this by building your portfolio of assets. If you are a lawyer, start a weekly podcast on how to succeed in your profession.
If you are a dog walker, record a daily podcast while walking. If you swim every morning, give a five-minute tip video daily.
I write every day. I now have 1,200 articles on my blog and 800+ books on Amazon. I am just a random person with no college degree.
Writing is my hustle, but I am creating assets that make money while I sleep. Whatever you do daily, find a reason to document it for someone else.
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Your voice is unique. The main sticking point is that your voice is amazing. Nobody on the face of this planet is like you. You have a set of personality quirks, experiences, and lifestyle choices that make you 100% unique.
The pension and 401K mindset pushed us to become standard employees without creativity. Our only passion stemmed from dreaming about retirement.
Conclusion. It will be tough for the older generation to understand hustle culture. It is difficult for the younger generation to value working 40 hours a week and staying on the job for 20-30 years.
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However, the best time to have a job is when you don’t need it. Start exploiting your niche today. If you love folding and ironing clothes, create a video every day.
You may never make a dime from your folding clothes videos, but they WILL open doors for you. Perhaps a rich person invites you to train their maids to fold clothes. Or you get a sponsorship deal with a company that produces irons.
The world is ripe with opportunities, money, and value; you only need to envision it. See life as an abundance tree with enough fruit for everyone to eat.
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Remember, an entrepreneur cannot just ask investors for seed money. They must demonstrate a completed product or service.
When you create 100s of videos, podcasts, articles, photos, or drawings, that is your business card. Investors will come to support you only once you prove yourself.
Stop grinding for other people, and start hustling for yourself. Build your portfolio today. For the older folks, please understand that the pension and 401K mindset is dead—help the new generation hustle smarter. Good Luck!
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