They used to tell me the key to wealth was to work a “good job”, save your money and open up a 401k. I was told this by non-rich friends and family, guidance counselors, teachers, personal bankers etc. If these people actually knew how to get rich they wouldn’t be working the un-skilled jobs they work. They wouldn’t be working jobs at all. These are people working jobs that anyone with a college degree in any field can work. They make about 50k per year, about 30k after taxes and they have the nerve to tell other people how to achieve success. Here’s a tough pill to swallow, but you won’t get rich by saving your money. You can’t get rich by going without Starbuck’s coffees. The only way you will ever get rich is by creating a product, being a producer, and making massive sales and skyrocketing your income. The way you get rich is by increasing your earnings, not by saving from your capped and limited post-tax earnings from a job. They key to wealth is to make more money by owning income producing businesses and assets, not by saving a portion of a limited income from a limited paycheck. The money saver thinking he will retire rich is a dreamer. The money maker is the doer You don’t get rich by having a limited income and saving a portion of that limited income. Saving money is reactive. You don’t get rich by reaction, you get rich by proaction.
Posted on: Tue, 19 Aug 2014 08:39:40 +0000
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