Financial stability through wealth creation is a skill that everyone needs to master. Björn Seiz, known as O5O, is one person who is helping nurture an entrepreneurial spirit and an investing culture around the world. His story is quite an interesting one and is an inspiration that, with hard work, consistency, and some wit, anyone can strike gold in this life.
How Did it all Begin?
At a tender age, O5O begun his journey to financial freedom by selling clothes. He had to learn a lot of things by himself. By the age of 18, Björn Seiz has entered formal employment as a banker. Two years later, he ventured into the financial industry, whose venture failed, leaving him half a million in debt. But O5O never gave up and got ready to make a giant leap in his life.
In the ICO mania peak, O5O decided to venture into the blockchain space and learned all that he could about the technology. After much research, he founded a company that hit $4.2 billion in market capitalization within 18 months of starting.
At the moment, the company is valued at $50 million and counting. Björn Seiz now uses his various platforms to help people create wealth and become financially independent.
So, What’s O5O Life-Changing Secret?
O50 has dubbed his secret as ‘The Money Magnet.’ But, how is paper money a magnet, yet it doesn’t have magnetic properties? According to O5O, the money magnet works under this principle;
‘Before touching any money in your account, you need to pay yourself first.’
This means that you need to pay yourself first before paying bills, taxes, and other expenses. According to this rule, paying yourself should be treated as a tax type that has to be paid.
If you are earning 1,000 bucks, you need to put a percentage aside to pay yourself (this can be 10%, 20%, 30%, 50% — the higher the percentage rate, the faster you get rich!) on the side, and later you invest it in something that is cash flow producing.
According to the O5O’s money magnet rule, reinvesting into oneself or one’s businesses sends a signal to your subconscious that you can handle money. What comes into your account isn’t what defines you. Rather, what one keeps will determine whether one can build a dynasty. O5O strongly believes that money attracts money, and his simple rule can get one out of poverty.
Why Do People Remain Broke?
According to O5O, people remain broke because they haven’t learned the secret of attracting money. To him, most people prefer to spend than save what is left. They save rather than invest, which means that their money isn’t bringing in any extra income. One needs to put aside money that will go into projects such as businesses, real estate, and many others, which will bring in passive income.
While the money market rule isn’t easy and takes lots of discipline, O5O says it’s worth it in the end. He firmly believes that little money shouldn’t limit you from investing. Through the 050 Movement, the O5O brand is making things through fashion, music, and many more upcoming projects.