1) CASH BUYS TIME
You can use cash to buy yourself time. It can be as simple as a convenient store and parking to as impactful as elongating your life
You can use cash to buy yourself time. It can be as simple as a convenient store and parking to as impactful as elongating your life
If you meet anyone who disagrees that cash does not buy time, you can be certain they have never seen a loved one die in a hospital due to lack of top tier medical treatment
No matter what, we will use time to acquire cash of course, but do not forget that the reverse is also true
Hence the phrase “Time is Money”
Hint for younger guys, if you waste someone’s time they are not going to like you.
Hence the phrase “Time is Money”
Hint for younger guys, if you waste someone’s time they are not going to like you.
2) CASH IS NOT AN INVESTMENT
We have said this many many times, cash in a bank account is deflating in value by ~3% per year
It’s probably closer to a 3-5% net loss per annum
If you believe cash is an investment don’t listen to us... Listen to Warren Buffet
We have said this many many times, cash in a bank account is deflating in value by ~3% per year
It’s probably closer to a 3-5% net loss per annum
If you believe cash is an investment don’t listen to us... Listen to Warren Buffet
3) CASH FLOW IS KING
if someone tells you they have a net worth of $1M and make $2,500 per month from their profession are you impressed? No
Now if someone says they have monthly cash flow of $50K and a net worth of $500K...
You’re going to choose to be person number two. Why?
if someone tells you they have a net worth of $1M and make $2,500 per month from their profession are you impressed? No
Now if someone says they have monthly cash flow of $50K and a net worth of $500K...
You’re going to choose to be person number two. Why?
It means you can continuously reinvest into other opportunities
Take this to a personal finance perspective and apply it to your own life
Take this to a personal finance perspective and apply it to your own life
Before you buy/invest in anything you should have a clear idea of how exactly you’re going to turn the position into a cash flow positive event
4) CASH IS AMMUNITION
“we will always have cash around but anytime we have surplus cash around I am unhappy”
4) CASH IS AMMUNITION
“we will always have cash around but anytime we have surplus cash around I am unhappy”
So create a minimum cash balance and find a way to invest the rest
If you have money sitting around for longer than a year then this money absolutely needs to be opportunity money
You’re losing 3-5% per year so you better have a rolodex of possible ideas coming your way
If you have money sitting around for longer than a year then this money absolutely needs to be opportunity money
You’re losing 3-5% per year so you better have a rolodex of possible ideas coming your way
5) CASH MAKES FRIENDS
Most people believe having cash makes you have the “wrong friends” and that you’ll find out who your *real friends* are
In reality, the first idea is completely and utterly false and the second idea is absolutely true
Most people believe having cash makes you have the “wrong friends” and that you’ll find out who your *real friends* are
In reality, the first idea is completely and utterly false and the second idea is absolutely true
When you finally make it in life, the people who clap and congratulate you are going to be your friends for life
The ones that beg you to help them and the ones that say you don’t deserve it or become jealous...
Go ahead and cut them off. Their loss anyway
The ones that beg you to help them and the ones that say you don’t deserve it or become jealous...
Go ahead and cut them off. Their loss anyway
6) CASH MAKES YOU A LOT HAPPIER
Anyone who says it doesn’t matter is either excruciatingly rich (0.001%) or broke
Play the odds and you know you’re likely listening to a broke person when they say money doesn’t matter
The fact is, real cash allows you to do anything you like
Anyone who says it doesn’t matter is either excruciatingly rich (0.001%) or broke
Play the odds and you know you’re likely listening to a broke person when they say money doesn’t matter
The fact is, real cash allows you to do anything you like
Re-reading point 3, you are only well off if you can survive off of cash flow from investments and maintain a happy lifestyle
This makes it incredibly obvious as to why it makes you happier
You don’t have to do anything you don’t want to do
This makes it incredibly obvious as to why it makes you happier
You don’t have to do anything you don’t want to do
7) CASH IS NOT A CURE
It takes many years to realize this, but one single thing will never fix your life
Even though it solves hundreds of issues for you, there is literally not *one* thing that will make you entirely happy and cure all of your problems
It takes many years to realize this, but one single thing will never fix your life
Even though it solves hundreds of issues for you, there is literally not *one* thing that will make you entirely happy and cure all of your problems
In general, happy people have the following qualities: healthy, positive social life, positive sex life, work they enjoy and no financial issues
In short cash is not a cure but it knocks out two important ones, health and financial issues
In short cash is not a cure but it knocks out two important ones, health and financial issues
8) CASH CREATES BASELINE TRUST
If you had to ask someone to watch your bags at the airport, would you choose the unshaven backpacker or the man in a high- end business suit responding to emails on his phone?
Naturally you choose the person in the suit
If you had to ask someone to watch your bags at the airport, would you choose the unshaven backpacker or the man in a high- end business suit responding to emails on his phone?
Naturally you choose the person in the suit
The reason why cash creates trust is related to point 6, if someone has money they have no interest in taking anything from you because they don’t need to
9) CASH MAKES YOU MEAN
It took several years of work experience to understand the phrase “the truth hurts”. What does this phrase mean?
It took several years of work experience to understand the phrase “the truth hurts”. What does this phrase mean?
It means if you are direct or blunt with people they will be offended because most people want to hear fairy tale pick me up stories instead of the truth
When you become successful you’ll find they have one dangerous quality
When you become successful you’ll find they have one dangerous quality
If they like you, they will tell you how it is for better or worse
So before you become upset when you dislike the advice given by a wealthy person... ask yourself...
Did he/she tell me the truth?
The real world is much much tougher than a few words of advice from a stranger.
So before you become upset when you dislike the advice given by a wealthy person... ask yourself...
Did he/she tell me the truth?
The real world is much much tougher than a few words of advice from a stranger.
10) CASH MAKES YOU MORE ATTRACTIVE
U can interpret this in many ways and in practically every way you’re going to be correct
Unless you have honestly lost your mind, you’re going to choose to hang out with a wealthy individual when compared to a broke individual, all else equal
U can interpret this in many ways and in practically every way you’re going to be correct
Unless you have honestly lost your mind, you’re going to choose to hang out with a wealthy individual when compared to a broke individual, all else equal
FIN!!
Accumulate US Trash Tokens by starting side projects and businesses
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Reading Bull even teaches you how to identify such ideas. Subscribe now! Link in bio
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Accumulate US Trash Tokens by starting side projects and businesses
In the latest substack @BowTiedBull shares a great business idea
Reading Bull even teaches you how to identify such ideas. Subscribe now! Link in bio
It's only $10/mo, $100/yr
And if you are worried about finding the time for your side projects that might earn you your second income, then subscribe to my newsletter.. the upcoming email will talk about this
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