Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship pdfdrive com

THE PAYCHECK POT
The final pot is most important to 
UNSCRIPTED
, and it’s based on the
capital-principle referenced in Chapter 25. Whenever someone mentions a
“money system,” it’s the paycheck pot they are referencing. The paycheck pot is
the lead horse while the others are auxiliary. For the 
UNSCRIPTED
entrepreneur, the paycheck pot is the end game—a passive-income system of
financial instruments that pay your bills, fund your lifestyle, and throw off
regular cash you can count on. Such financial instruments can be bonds, ETFs,
options, stocks, bank deposits, investment trusts—anything that delivers a
published, predictable yield. It could even be a low-cost mutual fund, and yeah, I
just recommended mutual funds. My contradiction is absolved in our ends:
purposed for income, not for growth. Once a 5 percent return on your paycheck
pot is a large enough income to make you comfortably (or luxuriously) happy,
you fund the other pots as you wish.
THE PAYCHECK POT (AKA: THE MONEY SYSTEM)
Contrary to what most believe, you don’t need a king’s ransom to start a
business. I started my company with less than $1,000. Publishing my book, only
a few thousand. Many hustlers on my forum resell Craigslist discards into new
cash flow. Others spend countless hours in “learned” human capital, build great
things, and go on to make thousands monthly. “It takes money to make money”
is one of the biggest lies in the business of business. Unfortunately, in the
business of money, it’s true.
The transition from a busy entrepreneur to a semi-retired entrepreneur
living off investment income via the capital principal is a fundamental
operational switch—but still a business. Instead of managing the business of
business, you manage 
a business of money
. A money system is, in fact, a capital
rental system. Like a real-estate investor who collects rents on his properties or
an inventor who collects royalties on his licenses, the business of money rents
capital. Instead of ceding control of a physical asset like a single-family home or a
parking space in Manhattan, control is ceded to your money. In return, you
expect more money as payment. For our paycheck pot, there are six primary
instruments we deploy to effectively rent our money. They are: 1.