Fire The Boss is an online company headquartered in New York City, founded in June 2018 by physician and entrepreneur Fraser Henderson. It’s now carving a name for itself in the financial sector. Here, this finance company specializing in investing, personal finance and cryptocurrency, among other domains, lifts the curtains on three things nobody told you about money.
Money is not wealth: Learn the difference early to prosper.
Money is different from wealth. And understanding this concept saves you a lot of time and effort, in addition to saving you a lot of money. Sounds confusing? Fraser Henderson elaborates. “Wealth represents investments that create value in the form of new processes or add value to existing ones. With money, you can only spend it. But with wealth, you stand to make a lot more than just more money,” he explains. Learning this difference also teaches you one of the most important lessons related to everything money – wealth creation is a holistic process that can make you a lot more money than any other financial solution that only concentrates on earning money.
A secondary income can make you more money than your primary revenue source.
Fire The Boss clearly outlines the most important rule of spending—you will never have enough money if you spend what you earn on things that do not make you money. Instead, the key lies in spending money on financial tools and channels that multiply your existing wealth. Let’s put it this way: your primary income should be a source of money to invest in other channels that have the capability to make you more money. Therefore, peripheral sources such as income from real estate investments, interest on cash, and dividends/returns on stock market investments are eventually the financial channels that you need to put to work the money you make. This is the only way to achieve true financial independence, where you make your money work for you, and not the other way around.
It’s not money that makes you happy; it’s what you do with it.
Fire The Boss believes that when you assume accumulating money will make you happy, you are on your way to living one of the biggest lies in life. We all need to know that money is simply a means to do what we wish in life or even buy what we wish. However, when we accumulate money and do nothing substantial with it, it may increase in number, but it certainly doesn’t increase in value. The real value of money lies in using it to impact a positive change, no matter how big or small.
Our thanks to Fire The Boss for some impeccable financial advice that you may not have been aware of earlier. Be sure to check out Fire The Boss, a finance company that knows just about everything there is to know about money.