How Can Ordinary People Achieve Financial Freedom? Some Simple but Effective Suggestions
This was originally just a humorous post, but unexpectedly it garnered a lot of attention.
I also appreciate the comments pointing out things like leaving food for those in need, which are very valid reminders. On one hand, many people experience hardship and should be understood and supported, without looking down on them; on the other hand, everyone can aspire to improve themselves, work hard to become wealthier, and have greater capacity to help others.
As a "penance" for my previous "joke" post, I will share some views on how ordinary people can achieve financial freedom—those who know me should understand that I have the qualifications to do so.
Since this is a spontaneous sharing, it will be written simply and somewhat fragmented.
- Find Ways to Create Passive Income
Whether it's earning ALPHA from Binance, engaging in self-media, being a project consultant, writing novels, etc., any method that can generate "sleeping income" or "passive income" is good. If you are a programmer, you could develop small applications; if you are a gaming enthusiast, you could create games on platforms like ROBOLX.
Of course, these are just examples. Everyone has different abilities and interests, but the principle is to think about how to create your passive income.
- Look for a Combination of Income Streams
A person's time and energy are limited, so try to make every day’s time compound in value.
For example, among civil servants, some are busy working during the day and then go home to spend time with their spouse and children, repeating this daily, wasting a lot of time without any personal growth, and depreciating with age.
But there is someone named Yu Hua, who works at the Writers' Association, where his main job is writing. Writing is his hobby during work hours, and he continues to write after work. Eventually, he became successful and famous, gaining more status at the Writers' Association, which is an example of compounding.
- Maximize the Quality of Your Time
Everyone has only 24 hours in a day, and the output in those 24 hours can vary greatly.
You should estimate how much your hour is worth. Five years ago, I told my family that I valued my time at 500 yuan/hour, and I believe I will far exceed that income in the future. So if something can be resolved for under 500 yuan, I prefer not to be involved, and my family agrees. This way, I can do whatever I want—like learning and self-improvement.
Of course, I also rationalized my gaming time—people are not machines and need to rest. Playing games is my way of resting, and it doesn't negate the previous point.
This unit of time refers to both improving input to elevate your understanding and enhancing output. For instance, Duan Yongping plays golf every day, seemingly just having fun, but he is actually clarifying the most important matters, enhancing his understanding. When it comes to making a crucial decision, it only takes him a second, but that second is worth a lot of money. Huang Zheng mentioned that he generally does not interfere with specific business operations because he believes that the people below him are certainly more capable than he is; he "only participates when he must make a decision."
So, I think the key here is to focus on gathering resources, meaning that unimportant matters can be "good enough."
- Grasp Major Trends
One must fish where the fish are plentiful. If I were in the investment circle, I would achieve financial freedom. If I stayed in a small local village doing a respectable job without continuous learning, I would only be able to live on a meager income.
I believe that to become wealthy, one must go where the money is. In terms of industries, it boils down to AI, robotics, new energy, and the cryptocurrency space. The specific choices will differ based on whether one is working in or investing in these fields.
Overall, everyone should learn some investment principles—but it’s crucial to find the right people. Ordinary people often cannot identify true investment wisdom, but scammers are prevalent. If all else fails, starting with Warren Buffett is a safe strategy.
When my salary was meager, I did extensive research to buy a house because I needed one. Due to that research, I ended up purchasing the property with the most outrageous price increase in the city. This initial luck gave me a huge shock—buying a house could be such a simple operation, and in three years, I earned what I would have made in 20 years of work.
Investing carries risks, but risk = reward, so learning is never a mistake.
- Buy Some Bitcoin
This might be the simplest way; compared to gold, it has ten times the potential. Buying now might seem risky, but you can gradually buy a little, hold it for ten years, and wait for it to surpass gold, then increase tenfold.
With a basic understanding of economics, one knows that the U.S. printing money is inevitable, and inflation of fiat currency is unavoidable. Currently, the interest paid by the U.S. is one-fifth of its annual income; not printing money is not an option.
As long as money is printed, gold will rise, and Bitcoin will rise.
Let’s stop here for now. If you want to learn about the cryptocurrency space, you can start from http://dayu.xyz. Although it hasn't been updated for a while, it still contains wisdom from zero to a billion.
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