Leverage for Growth Podcast

Episode 126: The Shift from Making Money to Creating Wealth

Episode Date:Jul 28, 2023

Move from a money mindset focused on immediate income to a wealth creation mindset focused on accumulating assets and passive income. Learn how this shift unlocks abundance in health, relationships, skills, and business.

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Show Notes

Episode Transcript

You are now listening to Leverage for Growth. Hey everybody, this is Jesse P. Gilmore, founder of Niche in Control and creator of Leverage for Growth. Welcome to the Daily Leverage Edition. Today’s topic is this, prosperity unlocked. The shift from making money to creating wealth. Sit back, relax, and welcome to today’s Daily Leverage. So many people dream of prosperity, but few achieve it. Why? One key reason is really the difference between making money with creating wealth. While related, these represent distinct mindsets. Making money focuses on immediate income. Creating wealth involves accumulating assets that generate sustained value. Adopting a wealth creation mindset is key to unlocking financial abundance. Now, money is simply a medium of exchange. that allows us to obtain goods and services. Wealth refers to assets, resources, and systems that provide income or value over time. Money comes and goes, where wealth endures. To prosper, we must shift focus from this money to building lasting wealth. A money mindset zooms in on earning income and cash flow now. people seek to immediately monetize their time through trades, services, or a paycheck. While financial stability is good, this short-term focus can inhibit creating assets for the future. Wealth creation involves a long-term outlook focused on accumulating assets. These could include things like investments, real estate, businesses, intellectual property, skills, and networks. The goal is to establish income streams and appreciation. Creating wealth provides peace of mind and financial freedom. Passive income flows in while assets accumulate value. And this frees up time to enjoy life and pursue opportunities. Scarcity gives way to abundance. Consider how to build wealth in all areas. For health, good nutrition and fitness habits. compound into lifelong vigor. Skills, knowledge and capabilities create opportunities. Relationships, investing in connections creates emotional wealth. And for business, building a profitable company leads towards financial wealth. So take some time and analyze your current money versus wealth mindset. Are you focused on immediate monetization or building assets? jot down three to five things that you could do to shift towards wealth creation across different life domains. As Robert Kiyosaki said, the rich focus on creating wealth and the poor focus on making money. To attain sustainable prosperity, pivot from a short-term money focus to building enduring wealth in all aspects of life.