It seems that everyone in America has one dream, and that’s to live the “good life”. Average Joes step outside their door each day and are disgusted by their ugly landscape, their cracked driveway, and the paint that’s flaking off their house. “Where did I go wrong?” they ask themselves. “Why am I so poor and someone else out here has millions?”
Believe it or not, the answer is most often not intelligence. Those that are wealthy typically have an average IQ and don’t appear to be extraordinary in any way. The only real difference is their understanding of money accumulation.
How Does the Average Joe Earn a Living?
The average Joes in this world all seem to have the same views of wealth accumulation. They figured that the way to wealth was a good education, a solid steady job, and excellent benefits. You may have heard this same story as well. I know I heard it from my parents. But, quite frankly, this advice is wrong!
Almost everyone I know has taken this route and you know what? Nearly all of them are living mediocre lives and are dependent on next week’s paycheck to survive.
How Does the Average Joe Try to Get Rich?
Occasionally, an Average Joe makes up his mind that he’s going to be rich. They normally take one of the two avenues below:
1) Work Extra Hours – they either take on an extra job or put in a bunch of overtime at their current place of employment. This does yield extra income, but it’s going to make you dead tired and will only earn you an extra $1,000 or so each month. Plus, what if you want to earn another $1,000 a month beyond that? There’s just not enough time in the day.
2) Jump Into an Expensive Business – Average Joes sometimes assume that true wealth is found by owning a business on that busy street corner. They’ve never worked for themselves before, but without regard, they take out a $250,000 loan to run their own store. Soon, they find that the hours are long and the income is negative. Oops… This is not the avenue of the wealthy.
What About the Stinkin’ Rich People?
I know one man that’s stinkin rich (he makes over $1 million a year), and he has no college education whatsoever. He doesn’t have a steady job with a pension plan either. And, his initial investment in his business was $265. That’s right, $265. It’s not a typo.
Stinkin’ rich people understand that a large initial investment is often not necessary to develop a large profitable business. The key is this: rich people begin businesses that can be profitable without them.
A wealthy man may have made his riches by building an online business that earns $1,000 a month. Of course, this yields only $12,000 a year, but since his business runs smoothly without him, he can simply repeat the process. After the first year, this man built a very similar business that also earned $1,000 a month (now he’s at $24,000 a year). He knows what he’s doing now and is able to start 3 similar businesses within the next year. Each of them is earning (yep, you guessed it) $1,000 a year, which puts his earnings at $60,000 per year. After a few more years of this, this gentleman could easily earn $250,000+ per year.
It’s actually very simple. The Average Joe believes they are special and cannot be replaced. They take great pride in their work and can’t imagine anyone doing the job better than them. This is all well and good, but here’s the problem: in order to get wealthy, you must take yourself out of the equation. If you can figure out how to make a business run smoothly without you physically being there, then you are about to get wealthy my friend.
Are you on the road to wealth? Or, will you be an Average Joe forever?