On the subject of financial freedom, I have hard-won insights and experience — lessons accumulated through repeated failures, confusion, and learning. I have also closely observed those who have achieved true wealth. They realized early on that a salary alone can never make you rich. The shift must happen: from trading time for money, to letting assets generate money.
Let me first define what it means to be wealthy. In my view, wealth means that when you don’t want to work, you don’t have to — and even when you’re not working, your income still exceeds your desires.
Take this example: your annual expenses are around 100,000 yuan and you live quite contentedly. You’ve published a book that steadily earns you 200,000 yuan a year. In that situation, you are genuinely wealthy.
On the other hand, suppose you earn ten million yuan a year — but your expenses are enormous, or your ambition is to reach a hundred million, so you must grind relentlessly, sacrificing time with family and friends, sacrificing your health. The moment you stop, your income stops. That is not wealth — that is poverty. Don’t you think a life like that has no color to it whatsoever?
So how does one become truly wealthy? You need to own assets that compound and grow over time — not rely entirely on selling your own hours. Work that trades time for money can only grow linearly. If you want to earn more, you can only sell more time.
To become wealthy, you must own assets. These assets can be your own business, equity in a company, intellectual property, or anything else that generates ongoing income for you. Learn to identify your circle of competence, build your core competitive edge within it, and always leverage your strengths against others’ weaknesses.