Life

Can You Work Your Way to Wealth?

Reading Time: 2 Minutes

What’s up boys and girls!

OK, so I found out something very interesting this week.

If you earnt $5,000 a day, Monday to Friday from the time the First Fleet set foot in Australia until now… you wouldn’t be a billionaire.

Nope.

Although, you would have a paltry $288 million.

That’s A LOT of Dough.

Yeah, though that’s after 230 years, 250 working days each year at $5,000 a day…

Image result for seven dwarfs
Heigh Ho, Heigh Ho!

BUT

If you had the foresight to leave it in a bank account etching out a 2% return p.a. then your $288 million would return…

Over $6.2 BILLION.

That would be a 22x increase. 

And that’s just at 2% returns p.a.

Point being is that working the 9 to 5 is NOT the way to wealth.

Mind you, it’s a good first start.

After all, we all need income to come in to take care of our expenses.

But it’s what you do with that income that matters. Cos that’s where the magic happens.

I’ve Heard It All Before…

So what are you doing about it?

I mean, most people are still living as if working is the way to wealth, and their wealth plans hinge on somehow “making” it at their place of employment. 

Image result for climbing corporate ladder gif
Climbing the corporate ladder…

Seriously.

Think about how many hours you put into your day jobs.

Think about all the commuting and on-costs.

Think about all the extra curricular training and courses you do to increase your earning power.

Now think about how much attention you give to investing.

Does it end up in the too-hard basket?

Come ON!

You pour all your energy and attention into your work, but you give such minimal attention to investing.

When realistically, the key to wealth, and financial security and TIME is to make your money work for you.

Ain’t it time then, to focus on education, research and up-skilling yourself to be a better investor?

If you don’t know where to start, hint: www.thefrugalsamurai.com 

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