Increasing Your Income — The First Step to True Wealth
How To Use Earned Income As The Front Door To Wealth Creation
This episode reframes income as an entry point, not the finish line. The host argues that you don’t need a new degree, a new job, or even a new product to start creating wealth. Instead, you start with a commitment, a clear income target, and a plan to fortify and expand the income you already have.
How To Increase Income From Your Current Job Without Quitting
Rather than adding time with side hustles or chasing another full-time role, the show emphasizes increasing the value of your current position. Listeners learn to identify opportunities within the company, pitch performance-based deals, request upside or partnership percentages, and pursue promotions or new responsibilities that expand the size of the front door to money.
Mindset And Target Setting For Income Growth
Big-thinking and consistent targets are central. The host challenges listeners to ask, "What would it take to 10X my income from the same position?" and to counter limiting beliefs that keep people small. Commitment breeds creativity: once a target is locked in, new opportunities, relationships, and solutions become visible.
The 40-40-20 Rule: How To Store Income And Force Wealth
The episode introduces a simple allocation rule: treat 40% like taxes, set 40% aside for future investment, and live on the remaining 20%. By forcing yourself to live on a smaller percentage of gross earnings and storing the difference, you create capital to invest and scale long-term wealth without inflating lifestyle expenses with every raise.
Practical Steps To Implement Today
- Commit to a specific income target and write it down.
- Fortify your earned income by becoming indispensable in your role.
- Increase revenue from your current position through value-driven proposals.
- Store the extra income using the 40-40-20 approach to fund investments and future growth.
Listeners who adopt these approaches move from passive hope to deliberate income engineering: identifying "who's got my money," pitching measurable value, and creating a repeatable path to build streams of income while protecting the one they already have.
Key points
- Commit to a clear income target and record the exact dollar amount you want.
- Fortify your current job by becoming indispensable and expanding the value you deliver.
- Increase income from the same position by pitching performance-based revenue opportunities.
- Ask for upside or partnership percentages instead of a traditional salary increase.
- Follow the 40-40-20 rule: store 40%, allocate 40%, and live on the leftover 20%.
- Practice your proposal with role-play so you can confidently present value to decision-makers.
- Prioritize promotions or opportunity-based deals over small percentage raises to multiply income.
FAQ
Do I need new skills or a new job to start increasing my income?
No. Begin by committing to a target and finding ways to increase income from your current position before changing jobs.
What is the 40-40-20 rule and how does it work?
The 40-40-20 rule suggests setting aside 40% for taxes, 40% into a future or investment account, and living on the remaining 20% to force savings and investment.
How can I ask for more money without demanding a raise?
Pitch performance-based proposals, request a percentage of upside or partnership in projects, and demonstrate specific targets you will achieve to earn more.
Is it better to seek a promotion or a raise?
A promotion often multiplies future income and responsibility more than a small raise, so pursue opportunities that change your role and revenue potential.
What practical step should I rehearse before requesting increased income?
Role-play your proposal, prepare measurable results and social proof, and set a meeting when the decision-maker can give full attention.
