Comments on: You Can’t Get Rich on a Salary!

By: Newton

Newton — Thu, 01 Oct 2009 18:09:26 +0000

There are enough hard working poor MBA’s with “decent salaries” (myself included) while there are persons without even a high school education who operate their own business and live a good life to prove the point.

By: Robert Teshaky

Robert Teshaky — Thu, 01 Oct 2009 18:07:25 +0000

The concept of this should be this way.
Salary is for worker, the boss who pay salary should have more money to do so, so logic say the boss have more salary than worker.

This is a micro and macro concept here, example, worker in company get monthly income less than what company own/earn. And there is another people who buy others company or merge them, that is tycoon type of rich, rare, but on top of all this small circle of worker salary and small company.

Bear in mind that many company lost money and all worker add up may earn more than the boss have.
In that way the strategist suggest use other people money to invest, if success, yours bonus, if not , the other guy lost.

Same as listed company circumtances.

so there is people work their time for company, company get investor money, top tier people give and take and control that investor money.

I think the best way is ” get every sure % of profit from the every $ of salary you pay” this is the only sure rich way.
The more salary you pay, the more you sure earn.
Every investment main concern is “sure/ guarantee yield.”

This happen in many thing, CD business, Michale jackson cd, Amazon e book, credit card business.Government income tax,
hary potter book,…..and you see the wealth come from well risk management , example, Harry potter book, if the cost and sell price is 5 time, than every 1 book sold, 4 book if free of cost, make thing free of cost is a solid foundation of wealth castle.

By: Robert Teshaky

Robert Teshaky — Thu, 01 Oct 2009 17:52:04 +0000

Getting rich by salary is related to how much the salary is, there are people who earn 100 k per per year on salary alone and some one earn 15 k per year.
that is 10 time different,also, salary make a secure start up and less risky platform to implement strategies that work or lose on employer account.
relatively, people with 10 time of salary seem faster 10 time in saving and have more capital to invest side line and also other value increase over time investment on some financial tools.

It is advisible to get “enough capital” by high salary at begining but not for the whole life when have other more higher bottom line income, then invest right investment at much younger time of life that enjoy component interest that surely cause million at 25 years later say the growth rate is 27% per year, that make capital 2 fold in 4-5 years.

By: J

Thu, 01 Oct 2009 03:40:41 +0000

how many people do you know who pay $600/month for all those expenses you listed below…really?

By: Yusri

Yusri — Thu, 01 Oct 2009 00:08:23 +0000

I do agree that we will never be rich solely from our salary unless we are at the top of the organization hierarchy earning at least five figure salary per month and not many people can achieve that. Then again being rich is subjective. For me, being rich does not only encompass on materials things but more importantly our attitude and the feelings we have inside. No satisfaction if I have much money and at the same time being arrogant, ignorant, proud and all those bad habits inside me. Is this not so? Being rich is good if you know how to handle it (just like anything else in our daily lives!). To wrap up, its up to the individual to choose whether he/she wants to become rich or not. The choice is ours!

By: Time to get back to reality

Time to get back to reality — Tue, 15 Sep 2009 15:03:43 +0000

How many people do you know that own their own island or have a private Jet???

GET REAL.. This article was written by someone who is a DREAMER.

You would not WANT to own a private island. The cost of maintaining this property would be a massive waste of resources.

Being rich simply means you earn about 50% MORE than your expenses.

If you pay $600 a month for rent + Food + car, etc. and you earn $1200 a month then congratulations YOU ARE RICH.

Being POOR means you spend almost every dime you earn on just basic living expenses.

STOP DREAMING and WAKE UP America.

By: Dan

Dan — Sat, 01 Aug 2009 16:45:36 +0000

I have a hard time agreeing with this article because being rich to me is all in the eye of the beholder.

You don’t have to have a lot of money to feel and be rich to yourself…if what you want in life is achieved and you are living a happy and fulfilling life then I believe you have become rich and prosperous.

Cutting the “rich” concept down to the amount in your bank account and “owning islands and jets” is a sad twist that America has put on the term.

By: M.Wanzer

M.Wanzer — Thu, 30 Jul 2009 21:51:45 +0000

I think that the term “rich” is extremely subjective, you hinted at that with your example about the broke person and the 1000 dollars. I do think one can become “rich” by working for someone else because of that very fact. One person may consider being rich something as small as having a huge house and a Mercedes, if that is ones definition of rich, that can be obtained by working in a field that will allow you to do that, you don’t even have to be an entrepreneur.
Another person my consider being rich to mean having enough money to pay their bills, and maintain a lifestyle they deem comfortable, if their comfort level is not too high this too can be obtained by being an employee.

I tend to think financial independence is a completely different thing from being rich. I think that entrepreneurship is the only way to be truly financially independent. I do not mean one has to completely work on their own, but I do think in order to be financially independent one must have multiple streams of income, not just limited to those that are gained through being an employee. Yes it is true, you can save and invest, but if your employer up and decides to fire you or lay you off, savings only last but so long before they run out; this is where I feel like other streams of income are vital.

As long as one is solely an employee with no other means of gaining income they are at the mercy of their employer or the next employer; no matter how much they make I do not think that constitutes financial independence.

Sorry for the long comment

By: Live for Improvement

Live for Improvement — Tue, 28 Jul 2009 22:16:19 +0000

I think you bring up a very good point. Sadly most people are barely able to stay on top of their finances. Society is setting a sub standard bar for achievement to those who are able to pay their bills ontime. Working hard at a regular job to achieve financial security should be a only starting point, not a goal. But we must crawl before we can walk.

-Dan Malone-