System of Auto-Money-Making Machine | Burke Hedges | Books

 Parable of the Pipeline

by

Burke Hedges

Summary:-Long time ago Pablo and Bruno was two men who were very ambitious and relatives to each other. They both used to live in a small town of Italy. There was a river outside the village so they both were given jobs to bring water bucket-by-bucket from the river(outside)  to the inside of the town, for the people.

They were offered one penny for each bucket. Bruno was happy but Pablo wasn't after some weeks he got fed up from the job as bucket carrier and thought of another way of making bringing the water from outside of the village to inside. He started working half-a-day on drawing buckets and other half-of-day building the pipeline on his own.

Resulting the Bruno grew with severe physical pain from carrying heavy buckets and lost all his youthfulness along with the money he earned from bucket carrying because of the habit of showing off. On the other-side Pablo build what he was believing would work and it worked. He got financially secure and free from the labour of bucketing carrying, too.

Lessons this books teach:- 

1. Money and Time

Money and Time has no 'deal' kind-of-relation with each other.

Saving with respect of time or without respect of time is of no use.

Time and money has a relationship of uncertainty in them. Example:- A person earns 10 dollar her hour in working hour of 7. He earn 70 dollars for a day. But the same 7 hours is making 700 dollars to someone else, and the same 7 hours is making 70,000 dollar to other, and 700,000 dollars to someone lucky-hot-shot. 

2.Only Source is Risky

Having one source of income is like walking on a single rope. 

Being devoted to one god, is great; being devoted to one partner, is great; being devoted to one friend, is great; but what not so great is being devoted to only source of income.

And the worst is that your whole family depends upon one source.

It's never easy, it's never being easy. But that doesn't mean it can't be done.

According to many surveys, almost all the millionaire has at-least  7 source of income.

3.Give and Take

That's the universal law of market. You provide a service to someone and he pays you for your labour(in the form of currency).

If Giving(service) increases so does the Taking(pay; currency) increases. If Taking increases then Giving have to be increase.

Find a way for providing your service with or without your presence. 

Now when that happen, you can say to the world that money work for you.

3. Making 2x 

Formula:- 

=> Decide the interest rate on your income.

=> Divide the interest rate on your income by 72. [72/rate of interest] 

=> 72/rate of interest will the years, it will take to double your money.

Example

=> 100,000 dollars 

=> Rate of interest is 10%

=> 72 / 10  =  7.2

=> In 7.2 years; 100,000 dollar will become 200,000 dollars.

Divide you income for three sector.

a) Spending - For monthly expenses

b) Savings - For big expense / future expenses

c) Investing - For create new source of income.

4.Learn E-Compounding

That's it.

Peace.

Book:- Parable of the Pipeline