Wednesday, February 21, 2018

Graham Stephan And I View Money The Same Way

One of the ways I spend my time (mostly) constructively in the winter slow months I go through with my current main business, pest control, is by consuming educational and inspirational media.
This winter I discovered how I could stream YouTube content to my 50" plasma TV. This works great for me because for whatever reason I can pay attention to YouTube videos from start to finish when I'm relaxing on my couch, but when I'm trying to do the same at my computer I get distracted by everything.

One of my vlogger discoveries this winter is Graham Stephan, a realtor in the Los Angeles area who also dabbles in several things I'm involved in, such as stock market investing.

I wanted to highlight this video of his in particular though because it describes how I see money and why I focus so much on the future earnings possibilities of it. I don't care so much about what the money I earn can buy me immediately, I care very much about what earnings on that money can provide me for the rest of my life.

A great recent example: last week I was informed that I won bids on a couple of large contracts that will net me over four times my monthly budget requirements in a relatively short span of time. I could easily cover my household expenses for a while with the profits and buy a few toys, too.

However, those profits dropped into my Robinhood stock portfolio, which as I type this is yielding 10.75%, would throw off enough income per month to cover my water and garbage bills, the monthly insurance premium on my car, and about 10% of my average weekly grocery bill in perpetuity. I work really hard for a short amount of time, and then those needs are covered for the rest of my life.

(Or maybe I could drop the cash into my Hashflare account, which at current Bitcoin prices is tripling my investment.)

Sounds boring? Wouldn't an even bigger TV be more fun? Maybe, but look at it the way I do: I think working to pay water, garbage, insurance, and grocery bills is way more boring, especially when you have to do it over and over again. I find that covering my needs one-by-one with passive income, such that I don't have to trade my time for money to pay those bills, even though it means putting off a little fun now, ends up being a lot more fun over a long period of time.

Once the basics are covered with passive income, maybe I will just work a bit of pest control, blog, collect some rent, etc., then take the money I've earned and hop on a plane to Ibiza to stay up for 72 hours straight waving glo-sticks around. It wouldn't matter then because I'd come home to all of my bills being covered by my past work efforts.

Work as an option rather than a requirement. Using your time for what you want to do, rather than trading it for money. Doesn't that sound better over the long term than a couple of new toys now that will rust, rot, and depreciate?

Keep that in mind as you enjoy the video!

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