Here are the two paths that many people's lives follow:
1) working for a company
2) working for themselves
It is interesting to evaluate the pros and cons of each option.
When we work for a company, we can usually rely on a steady salary and benefits. We may have a set schedule -- something some people enjoy and others do not. But if our position is terminated, our entire income, benefits, etc. can vanish overnight. We are relying on something that may seem stable, and while organizations, unions, policies, etc. can contribute to higher levels of job security, if that job disappears, so do our salary and benefits. And if we have relied on that job as our sole source of income, we may be in trouble.
Instead of focusing on just one role, if we take the entrepreneurial route, we can have many. We can think of, create, and roll out many programs to create multiple streams of income. And some of it may be accomplished without us having to put in additional time to earn it once it's been setup -- passive income. If one stream of income gets diminished or eliminated entirely, there are likely still others bringing money in. Setting our own schedule usually comes along with this path. If we choose the entrepreneurial route, we do take on a good deal of risk. Success isn't guaranteed and there is a lot to learn. This route does NOT come with a stable salary and benefits.
Our personality, lifestyle, goals, and more will influence which path we choose. Maybe some folks will choose both! Which path seems like a better fit for you?
Thank you Robert Kiyosaki -- your book, Rich Dad Poor Dad, has allowed me to think about these ideas in more depth, process them, and share this post with the world!
1) working for a company
2) working for themselves
It is interesting to evaluate the pros and cons of each option.
When we work for a company, we can usually rely on a steady salary and benefits. We may have a set schedule -- something some people enjoy and others do not. But if our position is terminated, our entire income, benefits, etc. can vanish overnight. We are relying on something that may seem stable, and while organizations, unions, policies, etc. can contribute to higher levels of job security, if that job disappears, so do our salary and benefits. And if we have relied on that job as our sole source of income, we may be in trouble.
Instead of focusing on just one role, if we take the entrepreneurial route, we can have many. We can think of, create, and roll out many programs to create multiple streams of income. And some of it may be accomplished without us having to put in additional time to earn it once it's been setup -- passive income. If one stream of income gets diminished or eliminated entirely, there are likely still others bringing money in. Setting our own schedule usually comes along with this path. If we choose the entrepreneurial route, we do take on a good deal of risk. Success isn't guaranteed and there is a lot to learn. This route does NOT come with a stable salary and benefits.
Our personality, lifestyle, goals, and more will influence which path we choose. Maybe some folks will choose both! Which path seems like a better fit for you?
Thank you Robert Kiyosaki -- your book, Rich Dad Poor Dad, has allowed me to think about these ideas in more depth, process them, and share this post with the world!
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