Making the Pareto Work for You
The Poor Man's Pareto Formula
Most folks spend 95% of their time and effort in formal education and a job to earn 5% of their POTENTIAL wealth
Spend only 5% of their time on informal education to Neglect 95% of the POTENTIAL wealth.
The Rich Man's Pareto Formula
Concentrate on that 5% and spend more time in gaining informal knowledge to to maximize 95% of one's POTENTIAL Wealth
They Pay attention to Informal Education
Yes, that is right most people spend millions and upwards of 75,000 hours on formal education; educating themselves in subjects such as Physics, Chemistry, Math, Engineering, Medicine, Accounting etc and putting in upwards of 100,000 hours at work accounting for 95% of their engagement time not realizing that it will build them only 5% of their POTENTIAL wealth.
Smart people on the other hand pay attention to 'business smarts' or ability to make their money and investments work for them, Over a life time they realize 95% of their potential wealth.
So its important for people to pay attention to that 5% effort to be put into informal education. Reading the books, blogs and watching videos on this website will benefit you immensely. It is not just earning and active income that is important, it is your ability to make the make your investments work for you. Spend a few hours reading the books to equip yourself to make better investing decisions
"Formal education will make you a living; self-education will make you a fortune" --Jim Rohn