The Scales of wealth
As I began to truly grasp the scales on the guitar, I began to wonder if there is a similar pattern to wealth? Perhaps more complex that musical scales, but a pattern nonetheless.
It's a matter of recognizing what's already there (it's always been there), and what will continue to exist. Do you notice some days life seems to be more in 'harmony' than others?
Just like the scales on the guitar, when they are right, we know it. And when we hit a wrong note, we know it too.
One of the strategies that worked for me in learning the scales was the caged method. It's a template for your fingers. As you move it up and down the fretboard, you unlock the ability to play the scales in any key.
The 3Ts to create a hit?
- Timing
- Technique
- Tenacity
Timing: It's about hitting the right notes at just the right time. Tip: often less is more!
Technique: How you combine chords, lyrics, and melodies.
Tenacity: A need to stick with it until it's perfect.
Successful musicians have unlocked the key to playing in perfect harmony. I'd argue with a few exceptions, most can't nail it without others.
Your job is to play in key as often as you can. When your work is in harmony, the value you provide generates income.
Friction occurs until we discover that harmonic equilibrium.
The Distribution of Wealth in America
5% - the 'generational wealth' - trust fund babies. $5 mil or higher net worth
15% - The middle class - paid off loans. Worth less than $5mil.
80% - Have to work. Dependent upon others (govt or family)
Source of Income
- Real Estate = No. 1
Wealth is how you define it.
Someone asked the richest man in the world, Bill Gates, “Is there anyone richer than you in the world?”
Bill Gates replied, “Yes, there is a person who is richer than me.”
He then narrated a story.
“It’s during the time when I wasn't rich or famous.
I was at the New York Airport when I saw a newspaper vendor.
I wanted to buy one newspaper but found that I don't have enough of change. So I left the idea of buying and returned it to the vendor.
I told him of not having the change. The vendor said, “ I am giving you this for free.” On his insistence I took the newspaper.
Coincidentally, after 2–3 months, I landed at the same airport and again I was in short of change for a newspaper. The vendor offered me the newspaper again. I refused and said that I can't take it for I don't have a change today too. He said, “ You can take it, I am sharing this from my profit, I won't be at loss.” I took the newspaper.
After 19 years I became famous and known by people. Suddenly I remembered that vendor. I began searching for him and after about 1½ month of searching I found him.
I asked him, “Do you know me?” He said, “Yes, you are Bill Gates.”
I asked him again, “ Do you remember once you gave me newspaper for free?”
The vendor said, “Yes, I remember. I gave you twice.”
I said, “I want to repay the help you had offered me that time. Whatever you want in your life, tell me, I shall fulfill it.”
The vendor said, “Sir, don't you think that by doing so you won't be able to match my help?”
I asked, “ Why?”
He said, “I had helped you when I was a poor newspaper vendor and you are trying to help me now, when you have become the richest man in the world. How can your help match mine?”
That day I realized that the newspaper vendor is richer than me because he didn't wait to become rich to help someone.”
People need to understand that the truly rich are those who possess a rich heart rather than lots of money.
It's really very important to have a rich heart to help others.