It Doesn’t Need to Have Money to Make Money
We know that many successful people dropped out of school without getting a degree or never went to college. General Electric founder Thomas Edison, Ford Motor Co Founder Henry Ford, Microsoft founder Bill Gates, CNN founder Ted Turner, Dell computer founder Michael Dell, Apple Computer Company founder Steve Jobs, Polo’s founder Ralph Lauren did so. Higher education is important in traditional professions, but for these men it wasn’t important in accessing great wealth since they started their own business.
So, What Do You Need?
If money isn’t needed to make money and schools don’t teach how to achieve financial freedom, then what is needed?
It is necessary to dream, to be determined, the desire to learn quickly, the ability to use God’s blessings, and to know how to earn income.
Which Way Do You Make Your Income?
An employee earns money by getting a job, working for someone else or working for a company. A self-employed person earns money by working for himself. An employer has set up a business that generates income. An investor earns money from the various investments she makes.
There are different ways to generate income. It requires different mindset, different technical skills, different learning path and different people. Different people find themselves closer to different areas.
Although money is the same everywhere, the way it is earned can be very different. Think of the different qualities required in all four ways and ask yourself which way you get the most of your income.
Each one is very different. Earning income from different segments requires different skills and different personalities, even if the person in each segment is the same. Switching from one method to another is like playing golf or tennis in the morning and going dancing at night.
You Can Earn Income in These Four Ways
Most of us have the potential to generate income in all four ways. Which one we choose has nothing to do with what we are taught at school. It is more related to our values, strength, weaknesses and interests. What kind of person we are determines how we will earn our income.
Whatever we do professionally, it is possible to earn income in these four ways. For example, suppose a doctor chooses to earn income as an employee. He can work in a hospital or a public institution. He can even become a military doctor or become a permanent doctor of one of the insurance companies.
The same man can also open a clinic and work as a self-employed. He can also choose to be an employer. He hires other doctors. He doesn’t have to work in his own polyclinic, then he can employ a administrator. If this doctor does not necessarily want to have a job in the field of health, he can also establish a company operating in a completely different sector.
He can also invest in other people’s business or other investment instruments such as stocks, bonds and real estate.
Different Methods of Generating a Source of Income
The way we earn income depends on our character. Some prefer to work for someone else, some hate it. Some people like to own a company but also like to run that company. While some people like to invest, others avoid it by citing the risk of losing money. Most of these attitudes can be found in us.
You Can Become Rich or Poor in All Four Ways
There is no clear relationship between these methods and wealth or poverty. Earning millions or being broke is up to the person himself. Choosing one way or another is not a guarantee of financial success, and no one can give you any advice.
These Methods Are Not Equal
Knowing the different features of each method is useful in understanding which one or which ones are more suitable for us.
Let’s say I choose to earn my income primarily as an employer and investor. Because I would like to take advantage of tax benefits. Legal tax privileges for groups at the top of the table are limited. On the other hand, there are plenty of loopholes regarding tax that can be used by those below in the table. If I get my income as an employer and investor, I can earn much more money in a shorter time and I will not pay high tax.
Money Supports Life
I believe it is absurd to spend a lifetime working to earn money and pretending that money is not important. Life is worth more than money. On the other hand, money is also important in terms of supporting life. We must learn to make money without working long hours. That’s when we get plenty of time to do other things.
If you take a closer look at this simple table, you will see that it contains not only different views of the world, but also very different worlds.
Neither is better than the other. Each of them has strengths and weaknesses.
Some of us can walk more than one path, maybe even all of the paths. We are all different individuals, remember, one method is not better or more important than the other. In every village, town and city of the world, all kinds of professionals are needed in order to balance the financial stability of the society.
On the one hand, our interests change as we grow older and our experience increases. For example, many young people who have just graduated from school are elated when they find a job. However, after a year or two, few find that they are not interested in rising up the corporate hierarchy or are not interested in their business. These changes that come with age and experience cause one to seek new ways to grow, challenge, achieve financial reward and achieve personal happiness…
Are you interested? Check out these posts too:
- MAKE YOUR INVESTMENTS TO EARN
- WORK IN THE SAME FIELD BUT EARN MORE
- A MOTIVATION POST FOR THOSE WHO WANT TO GET RICH
- THE TWO MOST IMPORTANT SKILLS TO INCREASE YOUR INCOME
- THE DIFFERENCE BETWEEN YOUR WORK AND YOUR BUSINESS
I urge you to read my DON’T WORK TOO HARD -WORK FOR YOURSELF post.
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