When I was young my father gave me an advice, and told to remember it always, ” Son, earn people over money, with people you can earn, but concentrating on money will never earn you money”.

Today when I think over the statement I find it to be true and false at times. Lets say for example, to consolidate money, you go for an extreme frugal living, as is suggested by many blog writers, but in this scenario you stop socializing with people, you ask your pennies back from your friends, even from your best of friends, and many more and you concentrate on finding ways to earn more money, by working hard/smart, working over internet and host of other channels.

But in the other scenario, in which you concentrate on building relationships, investing time in creating teams, you are investing into asset creation and reap its benefits over the period of time.

The above concept may be flawed, in the sense that you may socialize etc. but still investing in team building or earning people may come handy. Hewlett started with Packard, Steve Jobs started with a team to form Apple, even lee Iacocca in his biography mentions acquiring his team to save Chrysler.

The point here is whether to invest time in wealth creation or for team building or a mix of both. I would say that; chuck the idea of extreme frugal living (for wealth creation) and to go for some people assets so that you can limit your risk on the way to become rich.