When I was working the slaughterhouse, butchering hogs for $5 an hour, I envied the management guys who got a regular salary. Oh, to be able to take a sick day, or come in late, and not get my pay docked! Those guys had it made "" or so it seemed to me at the time.Lots of people think that way. But now I know how wrong that is. Sure, the salaried managers at the slaughterhouse had it better than the hourly stiffs mucking around in pig guts "" but their jobs didn"t put them any closer to financial independence than mine did. Both of us could only earn as much money as Nintendo Wii the boss told us we could "" and not one dime more.Now that I"m financially independent, there are no limits to the amount of money I can earn. I"m the boss, and I make my own Wholesale LED Bulbs schedule. I"m thousands of miles away from the slaughterhouse. But I still measure my earnings by the hour. Why?Here"s why: Because time is money, and there are only so many hours in a day. In order to maximize my income, I need to know exactly what an hour of my time is worth "" and you should, too.Now, just like everything I do, there"s a system to this. You can"t just randomly pick a number you like out of the air "" you need to do the math. And just like in a regular job, the number should go up as you gain more experience and move up the ladder.But the point is to spend your time doing the things that are most likely to put more money in your pocket "" and pay other people to do the other things that need to be done.Now, in the beginning, there"s not much difference between the two. On your very first property, it makes sense to paint and mow the lawn yourself, because you need every dime of cash flow. But after you"ve got a few properties generating positive cash flow, the balance starts to shift. How is an hour of your time better spent "" mowing lawns, or scouting out new properties to buy?Think of it this way "" which one is easier to delegate? Without much trouble at all, you can find a kid to Wholesale mow the lawn for $20. Would you trust a 12 year old to evaluate new investment opportunities for you?It seems like an obvious choice, but you"d be amazed at how many people get stuck on this. They can"t get past the few hundred dollars coming out of their pocket for work they could do themselves "for free." Trust me that "free" work can end up costing you tens of thousands in missed opportunities.Chances are you didn"t get into real estate investing so you could make $10 or $20 office electronics an hour. If that"s what you wanted, you could have stayed in your job, right? You got into this to get wealthy "" so value your time with that in mind. Here"s a simple way to think of it: in three hours, you can paint an entire house and "save" yourself a few hundred bucks. Or you can spend that same three hours putting together a deal that will add $500 to your cash flow each month. Which is a better use of your time?Economists call this "opportunity cost," but I just call it good sense. Being financially independent means realizing that your success depends on you - your work, your decisions, your time. It"s the most valuable resource you have "" so spend it wisely.DA
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