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It's a two step process. 1) Make lots of money 2) Don't spend it all You need to succeed at both steps to be wealthy. However doing well at either step will
by sliverstorm 9y ago
It's a two step process.
1) Make lots of money
2) Don't spend it all
You need to succeed at both steps to be wealthy. However doing well at either step will still improve your circumstances.
- ForRealsies 9y agoYes! You need an incredible flow of income to become wealthy (selling your company, book you wrote becomes a hit, etc). You cannot accomplish step 1 through a job. Rich people telling you to invest in mutual funds and treasuries to become wealthy are frauds. That's what you do to MAINTAIN wealth, not to generate wealth.
- jacquesm 9y ago> You cannot accomplish step 1 through a job. Well, as the linked article and the various blog posts show, that isn't exactly true, especially not for people in IT. In IT you can accomplish step 1 through a job.
- ForRealsies 9y agoYou cannot scale yourself. You cannot demand a 200% raise from your boss. You can control your $COST_OF_LIVING, you can job hop to increase your income, but it is bounded. Just as a doctor can increase his number of patients but cannot work more than 60 hours a week.