Have you ever wondered why some people always seem to have money? Sure, they could be in credit card debt; however, a rare few actually know what they are doing.
If you intend to have a successful financial life, you’ll need to become a capitalist. However, capitalists are made—not born.
This brings me to the point of today’s article, which is how to become a capitalist in one hour a day. You will use this hour to learn about investing, real estate, business, and creativity, which are the hallmarks of capitalism. Let’s begin.
Advertising vs. Content Marketing
What’s one hour? How do you spend your free time? What do you do after work? The answer to these two questions will determine your financial success.
The first step in becoming a capitalist is converting your free time into productive time. You don’t need to spend six to eight hours a day grinding away at a business (at least not at first); you just need to allocate one hour.
You can accomplish a lot in one hour. The first few tasks you’ll need to do are reading books, reviewing news, consuming website articles, and writing papers.
You will do this across the four different asset classes: business, creativity, investing, and real estate. I started by focusing on one of the four on each consecutive day.
I wrote an article in each of the areas per day. I also read books on each subject matter so that I had the material to write articles about it.
Should Your Trade on Margin
I have learned a lot over the course of six years as a capitalist; however, I learn more every day. You must become a lifelong learner if you want to create passive income streams. Now, let’s explore each of the independent asset classes.
Learn investing in one hour a day. Within your one hour of investing, you’ll want to focus on dividend growth investing, income investing, index funds, high-yield savings accounts, treasury bonds, options trading, and tax guidelines.
I recommend spending the first few investing days reading books that will give you a general view of the investment landscape. Some great books to read are “How to Retire on Dividends” and “The Bond Book.”
After spending a few months reading, it’s time to take the first step into becoming a true investor: investing your own money.
Start with a small amount of money, say $20, and invest in a simple platform like Cash App. Now you are officially an investor.
Debt Snowball vs. Debt Avalanche
Your continuing education is reading daily news about the stock and bond markets. I do this on websites like Seeking Alpha and Yahoo Finance.
Overall, the goal of your investing study days is to gather a general awareness of the money environment around you. You should learn how interest rates affect everything you do and how to turn one dollar into two.
Learn real estate in one hour. Most people are afraid of real estate investing. They believe that owning multiple properties will drain their financial resources.
However, it’s time to let these fears go. The best way to overcome these misconceptions is to read books. I recommend “The Book on Managing Rental Properties” and “How to Build a Rental Property Empire” to get started.
Once you have read some real estate books, it’s time to study the Internet. I like to read current articles on BiggerPockets.
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You should also spend some days searching Zillow for deals. This will help you learn what a good deal looks like and which community has the best deals.
You won’t find amazing deals on Zillow; however, you will find turnkey properties that will generate a few dollars at first.
If you genuinely want to make real estate a career, you can learn to become a real estate agent or general contractor. There are many ways to leverage real estate to achieve your financial goals; my favorite is renting rooms.
Learn business in one hour a day. The world of business is massive and never-ending. There is always something new to learn and try.
Cellphone Upgrade vs. Dividends
The basic gist of business is to add value to the world. If you can add value, the money will find you. Start your search by learning how to add value.
The first books you should read are “The Four-Hour Work Week” and “The Millionaire Fastlane.” These books will set you up with a successful business mindset.
Now, you can begin to decide what kind of business you want to start. It can be a continuation of your previous profession or a brand-new passion project.
You can purchase a business from BizBuySell.com, or you can buy a vending machine or ATM. You can tailor your business to your lifestyle.
The more you read about successful business people, the better understanding you will have of the game. Becoming an entrepreneur is the exact opposite of what they taught you in school (becoming an employee)—so prepare yourself.
House Hacking vs. Online Business
Learning creativity in one hour a day. I love writing. I am passionate about learning something new, trying it in real life, and writing about it later. Writing is my creative outlet.
We all need a creative outlet; therefore, it is essential that you find your creative passion and exploit it in your one hour per day.
There are too many creative passions to list, but I’ll try anyway: woodworking, sports, writing, podcasting, helping others, sewing, etc. The list goes on forever.
Don’t expect to make too much money from your creative passion. To make money, you would need to convert your passion into a creative business, which may sap some of the fun from it.
I make about $300 monthly from writing, and I am more than happy with this. It allows me to continue to do what I enjoy without sacrificing the fun for money.
Dividend Investing in Your 30s
To get into this position, you must learn to make money from the other asset classes. I love dividend investing as a complement to my creative passion.
Putting it all together. As you can see, once you get involved with all asset classes, you’ll want to spend more than one hour a day learning them.
The point is to slowly start converting more and more free time into capitalist time. Every minute you spend learning how to become a capitalist will reward you in some way.
A good way to get ahead of the game is to read all of Robert Kiyosaki’s books, as he discusses all four asset classes.
America is Expensive
Conclusion. I owe much of my financial success to Robert Kiyosaki’s books. He taught me how to convert my mindset from a government employee to a capitalist entrepreneur.
Once I became a capitalist, controlling and leveraging my finances became much easier. I could convert a dollar into two dollars without working a job.
If you want to retire early and live the life of your dreams, you’ll need to become a capitalist. Don’t let the external noise about capitalism prevent you from joining this new world.
Although you’ll start with one hour a day, don’t be surprised if you consistently spend three to four hours learning about the world of capitalism. The more time you put in, the richer you will become. Good Luck!
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