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Working For Others Does Not Make You Wealthy »
Posted by: JaneMay 2 years, 6 months agoEveryone knows that you won't ever become wealthy by working for someone else. In fact, what you are doing is making someone else wealthy. This is why successful business owners continue to pay you more and more: they want to keep you happy, because you are probably earning them ten times what they are paying you.
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Comments: 41
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ameliog
June 13, 2007, 5:34 p.m."Working For Others Does Not Make You Wealthy". I can attest to that.
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Obaku
June 13, 2007, 9:47 p.m.Gee, that's true, unless you are a CEO, in which case it DOES make you very, very, wealthy.
Or if you work for Goldman Sachs, and your annual bonus rtun into 7 figures...
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evelyna
June 13, 2007, 10:32 p.m.My girlfriend's son works as an engineer for peco. He has a condo at the beach and a house with land. She said he makes 6 figures. That would make me wealthy.
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canadianrancher57
June 14, 2007, 8:20 a.m.One piece of advice I received from a succsessfull business person many years ago was to hire people with abilities to do things that you could not do well yourself, he said you may have to pay them but the return was always worth it. He said that he did not exploit people, but thought he sould be well paid because it was him that took the chance and started the business and it would be him that took the loss if he was wrong.
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droid3913
June 14, 2007, 8:41 a.m.The only company I know in the world that has created the most millionaires is Microsoft. I guess we need to give Bill Gates some credit?
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dan-and-jennifer
June 14, 2007, 9:08 a.m.I agree with soulja90. It all depends on how you define 'wealthy'. Wealthy in spirit, wealthy in love, wealthy in wisdom...
But I definitely agree with Jane when it comes to money! Working for others will never make you wealthy.
I once worked for one of the big accounting/consulting firms. They billed me out at $350 per hour and I got about 1/5 of that.
Selling your time by the hour is one of the worst possible ways to make a living... Sure it's the easiest thing to do because of the perceived security and the fact that someone else worries about making the business run.
The thing that most people don't realize is that if you work for yourself (even by the hour), you can bill less per hour and still make more money than goin to a job.
I did the math back when I had a job and kids in day care. It was costing me, yes, I said costing me almost $20,000 per year just to go to work - factoring in day care, gas, lunch, office attire, dry cleaning, wear and tear on my car, etc. etc...
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mulembo
June 14, 2007, 10:16 a.m.Just do what makes you happy. If working for someone makes you happy then do that, if not, work for yourself. It's what makes you happy that matters in the end, not how much money you make or who you work for. Life is all about love and happiness.
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jumpmaster
June 14, 2007, 10:39 a.m.Anyone who complains that the business owner or the CEO gets paid too much should start their own business.
Oops. What is the old saying? If it was easy, everyone would be doing it.
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hoylelisa
June 14, 2007, 12:07 p.m.OK so there's nothing easy about it-I struggled the whole way..sometimes still struggle and always worry about the struggle coming up but I would not go back to work for my old boss for all the money in the world. I do well now but I'm over 10 years in-the first 5 was hell the next two more like being stuck in Alaska w/out a coat but one the 8th year things started looking up and am happy to say been pretty good for the last few years...Its worth it guy's--If your strong enough to make it through 5 years hell and 2 in Alaska you've got it made...I'm officially on my second month of vacation and thinking of extending it another month(think my old boss would be down with that?? I think not) it was worth the wait guys just to never have to make THAT call again-you know the"I'm nearly dead from 6 types of flu and 2 strains of mad cow disease and wont be in for a week. Take the chance while imagining never asking anyone else permission for anything again.
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mark-stevens
June 14, 2007, 12:57 p.m.My nephew works for Micro Soft... paid cash for an $80,000 turbo Porche. He has a $3,000,0000 home, a 2005 Volvo wagon as a family car, a spare Volvo wagon in case the first breaks down, three kids, the trophy wife.
My nephew works under a guy that my nephew's wages would be considered a bar bill.
Micro Soft has 3,000 jobs they can't fill.
If you're good enough to fill those spots, you have what it takes to start your own company and make serious money.
What is wealthy??
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mark-stevens
June 14, 2007, 1:05 p.m.I know a guy that planned his life at 15. He retired at 40 with a $100,000 a year income off of investments. The guy is painfull to talk to. All he talks about is "look at what I did, look at what you haven't done". Money sucks if it gets in the wrong hands. Oh yeah, the bass player for The Blues Travalers home is up for sale, down the street from me. $1,000,000 includes a recording studio bigger than most houses... he is dead, drug over dose.
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Charlson
June 14, 2007, 1:13 p.m.If I worked for myself, I'd have to have a product or service that people would want. And even then, that does not ensure success and wealth. Talent alone will not ensure success and neither will luck. Those who have all three usually do succeed. That is why they're such a small percentage of the population.
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GlamourGirl
June 14, 2007, 2:15 p.m.Unfortunately, in our Western society to be "wealthy" is the top priority, which makes people be competitive, greedy, hooked on "status" things and consumption, and alienates them further and further from natural lifestyle and eternal values...
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NelsonR
June 14, 2007, 3:02 p.m.I will add something, many of these so called business people make more money, not by paying more, but hiring an illegal alien. Employers in general are cheap and failing to see, a happy empoyee is a productive employee.
Enforce existing laws and the rich will stop getting richer on the backs of the middle class and poor. For now, its another fact of life in America.
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zootallures
June 14, 2007, 3:56 p.m.i've been running an NY music production studio with my business / creative partner for over 5 years, and all i can say is you better expect your start up company to be your life, not just your job. you can put in 100 hours a week for years and still fail. this is why 90% of people prefer to stay with a job they don't like and continue to complain about it. i certainly wouldn't judge those people. there's a lot to be said for job security and forgetting completely about work after 5 PM.
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saneman
June 14, 2007, 4:24 p.m.As long as suckers are born every second, people can start up their own businesses and make lots of money off those types of people. For example, there are lots of invention marketing companies which take people for all they have and give nothing in return. One company, which has the scrambled letters "PHINTVLENE" for its name, makes $30 million every year off these unsuspecting fools.
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PilotSmall
July 4, 2007, 3:56 p.m.If you want to get rich in both cash and good deeds....suggest you read "The Fortune at the Bottom of the Pyramid" by C.K. Prahalid, who the Nobel Prise for literature for this work. ISBN 0-13-187729-1, Wharton School Publishing. This ain't no drill!
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PilotSmall
July 4, 2007, 4:04 p.m.I would humbly suggest you get rich by solving other peoples problems, not your own! A year or so ago I got paid 100K just to stay home and think two days a week about solving a major universities problems.I would add the best investment you can ever make is in formal education in yourself first! That gets you in the door to a multitude other opportunities.....and also assist you in seeing them where others may not!
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