5 Philosophies About Money
#4 Money follows movement
1. Contemplate your desires
There are moments of intense desire that visit me. A want can be so fierce that it insidiously disguises itself as a need.
And this is why you must force yourself to sit with your desires for a while and contemplate their origination, justification, and consequences if you pursue them.
Many desires are unjustified and add little value to our lives; instead, they detract from our net worth and add unnecessary financial overhead and complexities to our lives.
2. Invest and sit
Some people buy and sell. It makes sense when you’re playing the short game, seeking a quick payout, or playing another strategy that suits your short-term goals.
But the long game is a winner’s game for your average investor who uses, say, ETFs.
What would happen to your money if you invested it and left it alone for a long duration?
When you allow your money to sit long-term, it increases how aggressively it compounds.
Invest your money and leave it alone. You don’t have to act on your investments; sit on them and watch them grow. The longer you wait, the more it (usually) grows.
3. Maintain a simple life
As time passes, it’s easy to accumulate more things, expenses, and overhead.
But you see, this is the trick: You don’t have to accumulate more stuff, more expenses, more debt, and more overhead.
Instead, you can focus on accumulating wealth, freedom, and simplicity.
More stuff has never solved human problems, unhappiness, or ego.
Eliminate debt.
Eliminate costs.
Eliminate overhead.
Eliminate complexity.
Eliminate inefficiencies.
Eliminate financial responsibility.
You don’t need all that stuff.
4. Money follows movement
If you want to increase your income and earn wealth, waiting and hoping for money won’t do anything for you. You need to get moving and take action on your ideas and goals.
Money follows movement. If you have an idea, experiment and try it out.
If you’re not investing, start investing.
If you’re not cutting costs, start cutting.
If you have one income source, find other sources to add.
Money is attracted to people who have it and people willing to do what it takes to acquire more of it.
5. Hold fast to your best interests
When food is around, birds appear.
The more you accumulate, the more people might appear in your life. The best practice is generosity, but not to the point where it hurts you financially.
Set financial boundaries for not only yourself but also for others:
Always consider the long game of your actions. Yes, money is a renewable resource, but it doesn’t mean you need to jeopardize your financial position to help others.
Give generously, but also focus on blessing others with financial education so that they can create their own wealth.
Don’t co-sign your name to risky loan applicants.
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Thank you for reading | destinyh.com
This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.
My long-term goal now is to generate dividend income. I can see myself frightened of selling my ETFs in retirement. The fear of outliving my retirement fund is real. Better have a decent cash flow that allows me to never sell my investments.