I’m a millionaire – this is the ONE thing all rich people do with their money… and it has nothing to do with how we earn or spend it
A millionaire has revealed the one thing all ‘rich people’ do differently with their money – and it has nothing to do with how they earn or spend it.
The mogul, known online as Taylor Money, from Kauai, Hawaii, has become a viral sensation on TikTok for sharing financial advice, amassing more than 145,000 followers and nearly a million likes on his videos.
The 42-year-old recently opened up about the one connection all wealthy individuals share, saying it comes down to the way they “see the function of money.”
He explained that those who earn less tend to view their income solely as a way to “pay bills” or purchase goods – while those who are wealthy simply view cash as “a method of expansion.”
A millionaire has revealed the one thing all ‘rich people’ do differently with their money – and it has nothing to do with how they earn or spend it
The mogul, known online as Taylor Money, from Kauai, Hawaii, said it comes down to the way they “see the function of money.”
“There’s one thing that rich people do very differently from middle-class people and poor people, and it has nothing to do with how much they have in their bank, how much they spend every month, or how much they have in their bank account. pocket,” Taylor said in the TikTok, which has been viewed more than 2.4 million times.
‘The most important thing that rich people do differently is that they see the function of money as it is actually intended.
‘I’ll give you an example. Poor people think there is money to pay bills and keep themselves out of debt.
‘They work for someone from Monday to Friday, trade their time for money and then give it to someone else. It’s a great way to get through life and never get ahead.
“Middle-class people use money as a way to build credit so they can buy bigger houses, bigger boats, bigger cars, whatever. That is not the function of money.
“Rich people know that the function of money is expansion, to use the money you make to make more money.”
Taylor emphasized that “rich people expect that every dollar they have will make them more money.”
“Only when you start to see money for what it really is, a method of expansion, a vehicle for your own expansion, then the opportunities to make more money or to expand will present themselves so that you can take advantage of them,” he concluded .
In another video, Taylor shared the three steps he took to become a millionaire at age 26: stop trading time for money, focus on your work and invest 10 percent of your income.
In another video, Taylor talked about the three steps he took to become a millionaire at the age of 26.
He explained that he was working as a firefighter when he realized he would never “make a high enough dollar amount” to become wealthy while working an hourly job.
“That’s when I learned step one: stop trading time for money,” he said.
‘Because no matter what job you have now [if it’s hourly]the numbers just don’t add up that you can bank enough after taxes to invest enough at a reasonable rate of return to reach millionaire status within the next 20 years.
“So what I started is the opposite of trading time for money. I started exchanging value for money.
“In more concrete terms, I switched to a commission-based sales job so that I could be rewarded based on my performance rather than the time I spent there.
“And the better I became at my sales skills, the more money I would make in a short time.”
His second step is to put your full focus on your work, even if that means temporarily putting your personal life on the back burner.
“For some reason most people miss this, but this is potentially the most important part,” he continued.
‘There’s this strange idea that at every point in your life you have to have a perfect work-life balance and spend time with family and friends, do your work and have time for it – that s** It’s a fantasy.
‘The sooner you accept the mission and journey you are on [to become rich] is the most important thing in your life and that it is about much more than just money – it is about freedom, prosperity and the support of your family – the sooner you can put in the work, effort and energy required to achieve excel at this point in your life.
“Then you can rest easy knowing you’re doing your job.”
Taylor’s third and final step is to “put at least 10 percent of your income into investments” — and he recommended not waiting until you’re good enough to start.
“Hear me out on this, the reason you want to spend 10 percent of your income on investments now, before you make a whole bunch of money, is because it shows your subconscious mind what’s important to you in your life, right? now,” he explained.
“It shows that you are an excellent money manager. You know the saying, “If you take care of the dollars, the dollars will take care of themselves.”