The single best advice I could give someone that is looking to get out of the rat race is to think long term.
The average Canadian seems to have this false idea that the only way to get out of the rat race of their job is to hit a home run. An investment that makes them rich over night. Or winning the lottery.
While these events can happen, there is a reason you don’t know many people this has happened to.
Yet, every wealthy person that the average Canadian knows, they also think that they are lucky to be wealthy.
If you shift your thinking to more of a long term mindset, you start to understand why people become wealthy. And you understand that they were not so lucky.
Wealth and financial freedom takes time. It takes patience. It takes delayed gratification.
Overnight wealth is chance. It’s usually luck.
For example, predicting the price of bitcoin over the last 12 months and the next 12 months is the same as trying predicting the next number to come up at the roulette table.
But maybe you believe in bitcoin as a store of value long term. Then it makes sense.
Predicting the next housing boom/crash is a gamble.
But maybe you believe in the cashflow and long term prospects of the housing market. Then it makes sense.
Everything we have done in the past that focuses on long term goals has always brought us success.
So far, every get rich quick scheme we have tried has failed.
Thus, we have created systems around our long term goals and stayed focused on them.
In an article written by Greg McKeowen, he shares a great story about the first time Warren Buffett and Bill Gates met:
When Bill Gates first met Warren Buffett, their host at dinner, Gates’ mother, asked everyone around the table to identify what they believed was the single most important factor in their success through life. Gates and Buffett gave the same one-word answer: “Focus.” (See more in The Snowball by Alice Schroeder).
Staying focused is so crucial.
We’ve built our whole Canadian Cashflownaire idea around focus. A long term focus on building cashflow.
Cashflow pays the bills. Cashflow puts food on the table. Cashflow buys vacations. And cashflow buys more cashflow.
Cashflow is not built over night. It took us 7 years to build the cashflow we have today. And we hope to build more before we say we live in the Position of FU. But if we lost our paychecks, we could get by on our cashflow alone.
Not bragging, just pointing out that financial freedom can happen, just probably not overnight.
It may take you longer than 7 years to be able to say this. You may also be able to say this sooner. Or it may never happen at all.
But we definitely know you won’t be able to say this if your only source of income is that paycheck you receive from your employer.
So what do you say?
Do you want to set a long term goal of building cashflow?
Join our Canadian Cashflownaire Membership, where we share systems we use to build cashflow, as well as a monthly newsletter to keep you updated and focused!
Vince & Mike
P.S. We are not trying to sell you a guarantee. Sadly, there are no guarantees of wealth or financial freedom. But we are trying to sell you systems and ideas that work. Only you can take the initiative to implement these systems in a way that works for you.
P.P.S. If you can have a long term and focused mindset, and understand the concept of delayed gratification, you can do BIG things in life.
P.P.P.S. It’s crazy, right? Where trying to sell you a membership that involves you working hard. What the heck are you paying us for? LOL. But it’s the ones that realize that knowledge is power, and it is up to them to implement that knowledge they gain, that are the ones that live in the Position of FU.