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I’m a big fan of satellite radio. I’m also a big Howard Stern fan. Years ago, when Howard went to satellite radio, I bought the lifetime package for Sirius satellite radio for about $400.
I definitely got a number of good years out that deal. Eventually though, Sirius made my life difficult.
Back in 2009, I bought a new Chevy Malibu which had XM radio. As some of you may know, there was a Sirius XM merger years ago so that should be all good, right?
Not so much!
Apparently, I couldn’t transfer my lifetime Sirius subscription to my car because they’re different systems… sort of.
Different??? Why couldn’t they just convert it into a Sirius subscription?
Stop it. You’re asking the obvious, but just know that they couldn’t for whatever reason. So now my wife gets to keep my lifetime subscription in her car since she has a Ford. And know that I’ve been running with an XM subscription that I’ve been paying for annually for a handful of years.
But I’m trying to cut back on stupid expenses and this is one of them. The problem though is that local radio sucks. Maybe it doesn’t suck in every city, but it definitely sucks here.
So I’m easing myself into other things to listen to before I let my subscription lapse in a few months. I do have flash drives that I put a bunch of music on and I play those in the car. That part’s been great, but I still need something to fill the talk show void (because that sucks here too!). Recently, the thing I found to fill that emptiness has been podcasts.
I’ve talked about how fantastic the BiggerPockets podcasts are and how much I’ve learned from them. Lately though, I’ve stumbled across another podcast that I’ve found to be a good listen. Robert Kiyosaki hosts the Rich Dad Radio Show every week. Kiyosaki’s books were the first motivator for me to break out of my rut and pursue financial independence so I’m pretty excited about this.
His podcasts are very interesting. A lot of the shows focus on what is going on in the world from many different perspectives and how this can affect your money in the long run. I’ve listened to close to a dozen of the shows so far and learned quite a bit.
But one of the things that really stuck with me was an interesting quote. On the 04/30/16 episode of the show, Kiyosaki quoted his rich dad with the phrase:
If you need money, you’ll always work for less.
Let that sink in for a minute.
Now why was that a sticking point for me?
It’s because he’s right… being in need of money is one of the worst positions you can be in. We’ve all heard of F-U money – having enough money to be able quit working whenever you desire.
Not having enough money to be able to quit your job is one thing, but many people are in a whole different dynamic. Many folks barely have enough money to live. A lot of people (and I mean a lot of people!) are living paycheck to paycheck and are barely able to pay their bills.
If you’re one of these fine folks, you might fall under this umbrella he’s referring to. Think about how important this is…
If you need money, you’ll always work for less.
Many people are one missed paycheck away from losing their house or car or whatever you want to fill in the blank with. That puts families in a horrible spot. And that’s what the quote alludes to – most people who need money are never going to get paid what they should. They might even pick up crappy side-jobs just to make ends meet.
That’s usually where they get stuck.
They get stuck because they don’t have the time or energy to really take a step back and think about this from a macro view.
Working harder is not the solution. Although that’s the way most of us have been brought up to think, it’s not true. I’m not against hard work, but it’s not the answer. You get stuck making just enough money that you can’t put aside money for your future… so you get stuck in the hamster wheel. Working harder is a bad answer to the problem.
The solution is working smarter.
And if you’re one of those people that’s stuck in this predicament, you need to figure out another way. And there are absolutely better ways – you just need to think about things differently. If you haven’t read Rich Dad Poor Dad or CASHFLOW Quadrant, I strongly suggest you start there. The books aren’t meant to give you a step-by-step, but rather to open up your eyes that you can change your financial situation.
Making money at a job is fine, but the problem is that someone else owns you. And more importantly, if you leave, so does any future income.
Find a way to make money come to you and your entire financial future can dramatically shift. Think about it – what if you didn’t have to work and could still get paid? It’s possible and plenty of people are doing it.
For me, rental properties are what I’m working on building up. For you, it might be starting a business that doesn’t wholly depend on you so you can step out of it later on down the road. Or maybe it’s building up enough income from dividend stocks to just be able to live off the income the dividends provide. What about royalties on books or music or maybe licensing any idea or invention?
The point it, don’t work for less. Even if you think there’s no way out right now, if you push your way through, you just might find your way to financial freedom.
Thanks for reading!!