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In this episode of the David Spisak Show, David breaks the myth about trading time for money. If you’re working for someone else, in some way, you’re trading time for money.

What David shares in this episode:

  • When we work for someone else, we typically trade our time for a paycheck. Once the paycheck is received, we typically trade that money for something of less value.
  • We trade our money for food, utilities, a new phone, or an outfit. Whatever it is that we purchase is going to be consumed OR it will be something acquired that is still consumable of a different nature.
  • If you think about the mouth behind it, it’s easy to understand that people who work for someone else have the challenge of becoming wealthy. It’s not impossible, but it’s a little more difficult, as Robert Kiyosaki suggests.
  • How are we able to leverage what we’ve accomplished in the past to create a future that is significantly better?
  • There are some people who bounce from job to job and all they are doing is trading their time for money. Those individuals are always relying on someone else to eat. It’s a never-ending cycle.
  • It seems like the more you make, the more you spend.
  • It’s not about what you make, it’s about what you keep. That sounds great on paper, but there is some complexity to that statement because until you’re able to cover the baseline of your expenses, it’s difficult to break out of that cycle.
  • Here’s the great news: You don’t have to trade time for money!
  • It is our performance that dictates how much we make. There is no ceiling.
  • No matter what your current job is, you have to scale your knowledge in such a way that it makes you more effective, more persistent, more successful, you could actually work the same number of hours but make 2x, 3x, 4x or more than someone else who has the same type of job as you.
  • Take inventory as you listen to this episode of every job, project, and opportunity that you’ve had so that you can understand the knowledge and experience that you’ve had. What lessons have you learned? Ask yourself: Have I monetized this? Have I leveraged all of this?
  • Listen to the full episode to learn how!

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