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You're not going to get rich doing either of these, because your income is capped by the hours you can work. This is true for a while, but if you're smart abou
by a3voices 13y ago
You're not going to get rich doing either of these, because your income is capped by the hours you can work.
This is true for a while, but if you're smart about it you could expand your business and hire others in the same profession, and eventually become rich.
- Fomite 13y agoThis of course also varies on your definition of rich - you can certainly manage "rich" in the traditional sense, but not to the scale that you'd talk about for finance. I can't reply to your comment, but pretty much yes, I'm sure. Doctors and lawyers are actually the canonical example of lucrative but labor limited professions. And being able to build a practice exponentially is vanishingly uncommon, enough so that no one should bank on it, whereas compounding is a fundamental trait of finance.
- a3voices 13y agoAre you sure? For example I could imagine see a dentist eventually hiring other dentists, and then more and more, exponentially expanding their business everywhere and growing a brand. It's not easy, obviously, but feasible.
- thecage411 13y agoWhat I've seen happen, at least with doctors, is a bunch of them get together and from a group/partnership and then the group negotiates with hospitals. This has the advantage of increased leverage as a group and thus much better conditions than just an individual working for a hospital, but you aren't getting high-finance rich with that arrangement.