3 ms·
I guess we define success differently. For me it means not needing to worry about money for the rest of my life, while relying on just passive low-risk investme
by nopinsight 8y ago
I guess we define success differently. For me it means not needing to worry about money for the rest of my life, while relying on just passive low-risk investment income, until any age I happen to live to. This includes having sufficient funds to obtain world-class treatments of the highest quality and little wait time for any possible health issues of family members.
Services for the wealthy might be a path for that but it requires at least 2 major skills: specialized knowledge in a profession and how to make strong connections and provide those services properly to the rich.
Successful small businesses also require both 1) specialized knowledge in an industry and 2) entrepreneurial skills (which I alluded to in my comment above). In addition, not a high percentage of small businesses is sustainable for decades, so one needs to judiciously invest the profits in a diversified portfolio to secure a good retirement.
IT job examples you cited might be great for single individuals or youngish families who can still work and catch up with new technologies. They do not necessarily cover secure and comfortable retirements and great treatments for health conditions in old age, unless one saves and invests a significant portion of the income. It is also unclear that the supply will continue to be lower than the demand for a long time into the future.
The same applies to other examples mentioned.
- movedx 8y agoInvesting applies to everyone, in all walks of life, is is the sole reason the 1% exists - the wealth is built up through investments and passed down through the family tree. No one is saying don't invest.