Copper Cotton
I recently had a conversation with an aspiring entrepreneur. We discussed money, investing and our goals. Then he went on to tell me that jobs are for losers. WTF?! When did having a job and being a loser become synonymous?
I was at a loss for words, thinking to myself that I must be a loser twice over to him, since I have 2.5 jobs and I’m working to secure a third job going into the new year. I didn’t bother to challenge his belief because I didn’t totally disagree with him.
His thinking is not unfamiliar to me. In fact, it’s classic Robert Kiyosaki. I’ve read all of Kiyosaki’s books and I think his ideas around money can be life changing. His most famous book, Rich Dad Poor Dad is a classic and a must-read, in my opinion.
But for a quick hack into the teachings of Kiyosaki you can check out…wait for it…Getting a Job is For Losers. The point that Kiyosaki really drives home in his book is the importance of earning your money from the sources that are taxed the least, which are business ownership and investment income.
Nothing for me to argue about here, those are facts. The tax benefits for business owners and investment income are amazing and are getting better every day that No. 45 remains in office.
However, here is where I believe Kiyosaki’s teachings and a lot of the other money gurus fall short when they say getting or having a job is for losers. The whole truth is that if you do anything without a plan and a focused purpose you will probably not win.
If all the poor in the United States are given $1 million, this is enough to invest in stocks, bonds and real estate and never have to get a normal “job” again. Unfortunately, there would be no happy ending for 95% of these people because they lack a plan, purpose and the discipline required to make that money last for the rest their lives.
A job will never make you a loser but not having a plan for your life and money along with the discipline to implement your plan, will ultimately make you a loser. A job is foundational and usually helps make your dreams come true.
Unfortunately, people work 40 years and end up with nothing because they didn’t have a plan, purpose or discipline. Here is a scary stat: 48% of individuals that are 5-10 years from retirement have less than $10,000 saved after working 40-plus years.
But I believe it ain’t over til it’s over and if you are getting a late start on saving for retirement or other financial goals check out David Bach’s Start Late, Finish Rich. It’ll give you all the tools you need to get on track and not look back.
As for me, I will continue to use my current full-time job to build additional streams of income through saving and investing in various assets (stocks, bonds and eventually more real estate). I will continue to grow the income I receive as an independent contractor to help me reach my financial goals as quickly as possible. And finally, I will remain disciplined on the journey.
Let me know what you think! (comment below).
