Why You Can't Get Rich Working a Job?

[Spencer]

If you've read a financial book or are conversant with the financial world, the phrase isn't new to you, but have you ever asked why, why can't you get rich with a job, the reason is simple because when you have a job, you are selling your time, if you don't go to work, you won't get paid.

Your pay is directly proportional to your time, and you can't grow your income at all with a job, but in business everything is based on your competence which is your ability to grow and make more great decisions, and in business your income can grow exponentially.

 

[Highs]

It has been proven that one can not become rich just by working because your income is fixed. Many kinds of employment have regular wages and there is always a set time within which you can make the wages. Taxes also deduct so much from your paycheck, expenses too, leaving you with minimal amount to save and invest. Real wealth is made from possessing items recognized to appreciate, such as real estates, equities, or a business. These produce “residual income”, that is, you get paid irrespective of whether you are working at that specific time or not. Although employment means security, it doesn’t offer one the same level of affluence will other sources of income or business ventures.

 

[Spencer]

Yes, getting rich is different from being secure, a job is a perfect example of security, where you don't have to do anything, you just do your job and at the end of the month you get paid and the cycle continues, until you get tired and leave or you get another job that pays around the same, but it's mostly the same thing.

Owning a business in my opinion is the best way to get rich, because you can control your business and you can scale it depending on your skill in running the business and it can run completely without your input.