Have you heard of the “New Rich”? Most people have, but aren’t exactly sure who they are. First of all, they’re not the ominous men in shadows running the world. Asking yourself “what is the New Rich?” can benefit you more than you probably imagine.
Most everyone is locked into the status quo when it comes to the daily routine. And for most it’s an absolute raw deal.
Work anywhere from 40-70 hours a week for someone else. Get two days off, if that, for yourself and your family. Then when you hit your 60s, you finally decide to retire at around a 40% pay cut from what you made when you were working.
This is when you realize all those dreams you had for retirement aren’t going to happen UNLESS YOU START WORKING AGAIN.
If you’re tired of that raw deal and want to know how to turn your own passion into your career instead of always working for someone else, this article is going to be an eye opener.
What Is the New Rich?
Recently, a good friend of mine recommended I read the book “The 4 Hour Workweek” by Tim Ferriss. (Stop everything you’re doing right now and order this book. Seriously. It’s that good.)
When I read it, it opened my eyes. All the things I used to tell myself about how I could do the things I wanted to do were being bounced right back to me through this book.
Additionally, through this book I was introduced to the New Rich.
So who are the New Rich? Let’s define what we’re talking about using the author’s words themselves.
“The New Rich (NR) are those who abandon the deferred-life plan and create luxury lifestyles in the present using the currency of the New Rich: time and mobility.” – Tim Ferriss
Deferred life. Wow. When you put it that way it sounds so… sad. Yet so many people buy into it. Do you know people like this? Do any of the following statements sound familiar?
“Once I retire I’m going to buy myself an RV and travel across the country.”
“When I’m done with this job for good, I’m going to hit that bucket list and hit it hard.”
The New Rich don’t think like this. They beat the retirement myth, retiring rich and retiring young by dismissing this outdated concept of deferred life.
Why do we insist on putting things off until later? So many put such an emphasis money and working that they forget to live in the moment. Being career minded isn’t bad. But when it comes to life vs career, why do we believe you have to sacrifice one for the other?
Time and Mobility: The Currency of the New Rich
Everybody shares the dream of being financially independent. But have you ever wondered why? Is it because we all love money? Probably not.
It’s because we all equate money with financial freedom and time freedom.
Isn’t that the real goal here? I mean, what’s all that money good for? It’s to spend it on the people we love, doing the things we love.
Given the choice of being a millionaire who spends all his time at his job, or being someone who makes ok money but can spend all his time doing what he loves, which would you pick? You’d choose the latter.
Yet, how ironic is it that to achieve our goal of spending time with our loved ones, we spend most of it away from them, working for someone else. And (maybe) we have a good weekend now and again doing whatever we want.
That’s 2 out of 7 days. That’s a raw deal.
The New Rich realize that time, mobility, and earning income can all overlap. Tim Ferriss knows this and speaks to it in his book. Anyone who has read it and is looking to be successful will agree. The key to having time, mobility, AND money is to be in business for yourself with a business that can come with you.
All the rewards from a life of hard work don’t have to wait until the end.
The New Rich Turn Passion Into Revenue
I love to go on vacations. But you know what the worst part about vacations is? Coming back to work.
Most people don’t think about mobility as the real reason behind why they’re not pursuing their dreams. If you’re a slave to your job you won’t have the mobility to accomplish it.
Tim Ferriss agrees that now more than ever before, working for yourself can be a reality.
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That’s the formula.
You don’t have to live the deferred life anymore.
When your business can come with you, you can make money from anywhere.
Turning the internet into a tool that can bring you financial gain gives you both time and mobility. Now you’re dealing in the currency of the New Rich.
Would you like to be a part of the New Rich? Tell me in the comments below. Ask me any question you’ve got.
Are you ready to stop silencing your dreams and take action? Are you looking to retire rich and retire young? Further, are you ready to drop deferred life? Chime in and share your story below.