If you`ve never come across the concept of having a high income skill, then this article can become a valuable piece of information at the right time.
This concept of "high income skill" was popularized by one of my mentors, Dan Lok, when he presented his pioneering idea, The Wealth Triangle. Basically, the triangle was formed by 3 pieces:
- A high income skill, being a skill that has the potential to make you over 100K a year;
- A scalable business, which could be an internet type business;
- And finally, high return investments, that should generate a minimum of 10% return on your money.
When Dan presented the idea, his theory was very simple. Your high income skill gives you the stability you need to put money back into your scalable business and/or high return investments.
(RELATED: What`s The Wealth Triangle?)
In order to create indestructible wealth, Dan doesn`t say you need to have all the pieces... in fact, you can do very well with a high income skill and putting your savings into high return investments, for example, real estate or stocks.
Dan Lok, a multimillion-dollar mentor, TEDx speaker and international best selling author, talks about conventional wisdom being almost always wrong.
The problem with most of the society these days is not that people don`t save enough money, they just don`t make enough.
Following the advice of financial pundits, you are convinced that the road to wealth is cutting back on the morning coffee to save 5 bucks a day for 40 years.
Listen... you can save 5 dollars a day for 40 years and you won`t be rich, you`ll just be old.
Let`s say you`re in a traditional 9 to 5, making 50K a year, living in an expensive city. How could you even save enough money to ever matter and not be scared about money at every single moment?
With the cost of living raising and jobs getting more demanding, for most people staying where they are is just not an option.
If that`s you, congratulations because you`re different from everybody else and that means you have the potential to live like most people won`t.
Developing a high income skill can give you the ability to be valuable in the marketplace, to work based on your performance and not on time.
The more you get better at it, the more you earn. Now, note that we`re are not talking about a high income job here...
So, what`s the difference?
With a skill, the amount of money you earn is dictated by the marketplace, with a job you`re limited to how much your manager or boss thinks your position is worth. And we all know that sucks!
Although you`re trading time for hours, you`re trading it for high dollars. That gives you stability required to take care of your family, enjoy life and still have enough to invest in a scalable business, a high return investment or both, if want to build massive wealth.
Once you develop that high income skill, which could be closing on the phone, copywriting, personal training or speaking, you can then do what Dan did over the years, which was "stacking on his success."
Adding skills to the previous one and increasing his earning ability. This is a very powerful way to guarantee yourself and the ones you care about true financial independence and most importantly, massive confidence.
Let me know if this article was of any value to you, I look forward to seeing you succeed with that high income skill and live like you never thought possible.