Earn More Money for Each Hour By Doing THIS! (1 secret)
I wanted quickly share with you one concept that I've been pondering since last year.
You'll earn more money if you do the same work today rather than tomorrow or 1 year from now.
The earlier you work, the better returns you will get.
What do I mean by that? Let me illustrate this concept with a few practical examples.
Example 1: Compound Interest
Let's say that you have $10,000 in your bank account.
You decide to invest it right now and you get 8% yearly return on your investment during the next 20 years.
That $10,000 has turned into $46,609.57
However, if you wait for 10 years and then you invest that $10,000, you'll only earn 8% interest for 10 years.
Your $10,000 is now only $21,589.25 instead of $46,609.57.
You just lost $25,000 by waiting.
The same amount of money/work. Different returns.
Example 2: YouTube
Let's say that you publish a video today and it generates you $1 per day ad revenue during the next 5 years. That will be $1,825 in total.
Another friend creates the same video and earns also $1 per day in ad revenue. The only difference is that he publishes the video 3 years after you did.
He accumulates only $730.
You earned around $1,095 more money simply by uploading the video earlier than your friend.
Same work. $1,095 difference.
Example 3: Reach
Let's continue the previous example...
You published your video 5 years ago and let's say it's been gaining you 5 subscribers per week.
In 5 years, you'll have 1,300 subscribers.
However, your friend who published the video 3 years after you did, he gains only 520 subscribers,.
Now if you and your friend publish a new video, you'll get immediately more views (=more impact, more money + more everything) because you have a bigger reach than him.
And again... The only difference is that you published the video earlier than he did.
Example 4: Blogging Income
Let's say that there are 2 friends who are both 20 years old.
1st friend builds a blog in 2 years that generates him $3,000/month income. He decides to sell it for $100,000 on Empire Flippers and invest the money in the stock market when he is 22 years old and gets a 7% yearly return.
He waits until he is 50 years old.
When he turns 50, his $100,000 has turned into $668,000.
Then there's the second friend...
Instead of starting to build his blog when he is 20 years old, he waits for 10 years. When he's 30 years old, he also starts building a blog. He does the same as the first friend.
He builds a blog in 2 years that generates him a $3,000/month income. He decides to sell it for $100,000 on Empire Flippers and invest the money in the stock market.
However, now he is 32 years old and puts $100,000 in the stock marketing and gets gets a 7% yearly return.
He will have $338,000 instead of $668,000.
$330,000 difference!
Just because he waited for 10 years and did the same as the another friend.
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Do It TODAY!
These were simplified examples and they didn't count all the variables.
However, you hopefully get the point.
The work you do today will make you a bigger return on your invested time than the work you do in the future.
The earlier you work, the best returns you will get for your invested time!
And the same applies to your money.
The earlier you invest your money, the better returns you'll get.
In these examples we only talked about investing in the stock market. I do not mean that you should necessarily put your money in the stock market! I simply used this as an example because it's an easy way to illustrate the point.
I could have also talked about investing in your business or in another thing that gives you good returns. If you invest money in ads, you'll get better returns if you invest the money now rather than 10 years from now if you do the same things.
Don't wait for another day. Work today and reap the rewards tomorrow.
It's Your Time!
- Roope "Work today rather than tomorrow" Kiuttu
PS. I'd love to hear your insights.
Do you have more practical examples of this concept?
Share with us in the comments below! :)
Recent Comments
103
Roope,
This is an excellent post and a muchneeded reminder that we should not wait but rather do what we can, NOW!.
Time IS money and with interest rates for investments at an all time low, there is no better time to get started that right NOW.
Thank you for sharing.
Cassi
Many thanks for this valuable advice Roope.
I need your help and help everyone here. I am from a country where electronic banking or any other means of transferring money is prohibited and I would very much like to make a blog to start working today, and I would like to upgrade to the premium in Wealthy Affiliate but I cannot so I am totally confused and standing where I am. I suggested Kyle add another method of payment, but he hasn't answered me yet. Tell me what should I do to get started?
Best wishes,
Muna
This is a great post and very practical. It is true the earlier you start the better it would be for you in the future. However, it's never too late to start, but it would benefit you to start today, start now and rip the benefit later at a greater scale.
Thanks Roope.
Nicole,
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The Penny versus 3 million dollars. One dude gets 3 million dollars today, Penny shaver, she gets one penny but she compounds it daily for 30 days, on day 29 she now had 5 million dollars versus Dudes 3 million, on day 300, 10 million.
The compound effect is always on, just like gravity is always on. Use it wisely and win.