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  How We Spend Our Discretionary Time Determines Our Future. The chart above shows how ordinary people spend their time. They typically spend five of their eight-hour blocks of time working, seven of them sleeping, and have nine left over as discretionary time, which we call spare time. But, seriously, work and sleep are mandatory for most people, but what you do with your discretionary or spare time is up to you…. or is it? What you earn with your work time has everything to do with what you can do with your spare time. If your knowledge and skills at work hours can earn you $3000 per week, you will be able to enjoy your spare time much more than if they only earn you $300 per week, which brings us to the biggest secret to developing a Richman Mindset. There is something you can do with time other than spend it: you can invest it! If you have a typical work week, like most people, you have 72 hours of discretionary time. Let’s see how most people spend this time. You might spend t...

  Visionary Target and Roadmap for Realizing It Take, for example, Dave’s goal. Goal: Dave’s goal is to increase his income by 50 per cent over the next three years Why: So that his daughter can graduate from college debt-free ( or with very little debt) and start her adult life farther ahead than he did. Let’s assume that Dave gets started on his goal immediately, putting in more effort at work and making sure he stands out. He also spends a few weeks taking the time to audit the skills he has and eventually find a service that he can build a side hustle around. Dave is off to a great start. he made a decision and then used the excitement he felt to catapult himself forward.  Here’s when it might get hard: Six months in, someone on his team gets promoted over him, for a job he was hoping to land. It’s frustrating, Dave has been working his tail off. He has crushed every single task assigned to him. He has consistently brought new ideas to the table and always gets great feedb...

  What Actually Is Wealth? Ask 100 people to define wealth and you’ll probably get 100 different definitions. It seems that wealth means something different to everyone. To some, wealth is having good friends and being well-liked, to others, it is close family ties, to still others, it is a loving relationship, good health, education, or the feeling of being appreciated. One might say that wealth is having an abundance of whatever is important to you. We won’t argue or disagree with that definition, but since this article is about financial independence, we should define wealth as it relates to your financial condition.  One reason so many people think of wealth in subjective terms is that to most people the idea of becoming a millionaire is so far beyond their imagination that it seems like a dream. Why? Because they have been conditioned by society to think in terms of “earning a living”. When they sit down with a calculator and figure out that they would have to “earn”...

  What Do You Really Want? In October 2016, Mary, a then twenty-four-year-old college graduate living in the cliche area of Bangkok, made what many would consider a risky, irresponsible, and foolish decision. She bought a tiny apartment and spent a few months investing everything she had into renovating the space and getting it ready for move-in. Once it was good to go, she packed up all of her things and moved in full-time. You must be thinking, “What’s the big deal?” She is twenty-four, she should be moving out and good for her for buying a house! Well, her new home was a bit different than what you might be picturing. For starters, there was no living room, dining room, or bedroom. The entire home was only 160 square feet, and along the outside of the structure, you could find four wheels and a hitch attached to it.  Mary’s home was a tiny house on wheels. She has been considering the move for a few years. Tiny homes were cheaper than regular ones, they weren’t restric...

Why Can’t We Achieve More Of Our Goals? So why don’t most of us achieve more of our goals? There are two challenges we face: Getting started on our goals after we have identified the steps Building momentum to keep us going until the action becomes normal. Luckily, finding a strong why can help us navigate these pitfalls quite well, but let’s dive deeper into these two factors to explore why they affect us so much and how we should be thinking about them. Why We Struggle With Getting Started Do you know that when you try to move any object, it requires more force to get it moving than it will require to keep it going? This happens because of two physical forces called static friction, the force that keeps a stationary object at rest, and kinetic friction, the force that brings it to a stop once it’s moving. In general, static friction is greater than kinetic friction, which is why it requires more force up front to get a stationary object moving than it requires to keep it moving. ...

  Overspending…Credit Cards…Lifestyle Of Failure It goes without saying that no one sets out in life to be a failure. Think back to all those dreams you had as a child about growing up and one day becoming a prosperous adult. Sure, back in our school days, we all had thoughts like that, even those of us who grew up dirt poor. We knew that when we grew up and got out on our own we would get a good job, find our niche in life, and be successful. Then when we entered middle school, we started looking around and saw that many adults weren’t living that dream. And we also realize that even our own parents are struggling. Both of my parents worked very hard, but never become wealthy. My father worked in a tire factory and my mother washed clothes for others. I remember when I was 6–7 years old, watching them looking at the menu in a nearby restaurant and wondering if we could afford to eat there. Even that young, I remember thinking, “I never want to live like that”. By the time I got to...

  Why — A Very Important Word “Why is Apple so innovative?” This simple question, as simple as it may seem, leads Simon Sinek, the New York Times bestselling author of Start With Why, to theorize the reason why some companies, and some people, seem to be able to move others to action, whether that action is buying a product or working harder, while the vast majority of companies and people are not able to do that. Based on Simon’s theory, if you want to inspire someone to take action on your behalf, you first need to understand and communicate your reasoning. But before you can convince other people of doing things, you need to convince yourself, right? Luckily, this same principle holds true when trying to inspire yourself to take action. One of the main reasons people don’t accomplish the things they like to do or even come close to is that they lose the initial excitement and momentum that drove them to set the goal in the first place. We get fired up after a moment of frustrati...