There used to be a day that making money over $100,000 was a great income. Yea sure, only 5% of people in North America make that kind of money individually, but I know a few "broke" people making over $100,000 per year (in most cases they do not realize how broke they are) as they are two months from the street without their income. Sound familiar? It is NOT enough if you want to sustain a lifestyle that gets better over time! Feel you can do better in the money making game? To live a lifestyle worth bragging about, you need to be earning at least $250,000 per year and in many cases much more than that. If you are reading this and making $30,000, $50,000, or $75,000, you probably think I am nuts, in your world, $100,000 is an awesome amount of money. Read this because what I am going to reveal applies to your too! You have just as much potential (if not more) to make in excess of $250,000 if you put your mind to it. Here it is, $100,000 is not enough to get financed to buy a house these days in my city, you will be lucky to get a townhouse or a condo. Want to drive a Merc, BMW or a Porsche, forget it, unless you do not have a house, any debt, or kids. How about a boat, a plane, a summer cabin, frequent travel... Nope! You may now be asking "So genius, what should I do?" Further to that you, are likely thinking; "I don't have enough education, or experience in my field to get that kind of income!" Then get out of your field and find something else! You can succeed if you decide to because whether you think you can, or think your can't, you're probably right! The fact is this... If you keep doing what you are doing you will keep getting what you have got! Things will not get better, they will only get worse because you will never likely be satisfied with your "lot in life". Here are some tips, things you need to understand, on how to get ahead of the $250,000 mark: - If you do not own your own business, you are giving up 2/3 of your income, yes that's right, the people that have hired you and paid you are making twice as much off of you as you are off of them. Do the math!
- If you do not own your own business, you are paying 15 - 20% more in taxes because you are not benefiting from the rules made for those that make business happen - the owners of business make the rules because they have the money. Yes, the Golden Rule: "The ones with the Gold make the Rules."
- If you do not own your own business, the hours that you work are likely much more than that of the people you work for; you probably work at least 10 - 15 hours more per week than the business owners do. Ever stay late, or take your work home? What about the weekends and vacation time, do you work then too? Do you answer your email at night? Why do you think business owners have the Country Club memberships and Travel all the time? It is because YOU are doing all the work for them!
- If you do not own your own business, Medical, Dental and Extended healthcare is not a write-off, but a taxable expense. Sure it seems great to have "benefits" with your employer, but the fact is the insurance cost is not that bad and if you have your own business, you get to write this off against your companies profits and in the end you will pay less in taxes.
- If you do not own your own business, you are sacrificing your ability to make as much as you want. Being self employed carries with it the luxury to make as much as you want...your success and lifestyle is totally in your control!
Deciding to start your own business is a good first step; but what do you do? Assess your abilities, desires, work ethic, education, likes, dislikes and write all this stuff out. You have to now determine what you truly WANT to do, but PLEASE, take the time to figure out how much money you can make at whatever you are considering doing. It is great to think that you really like to own your own business doing whatever, just be sure to start one that will meet your financial desires. There are millions of ways to make $250,000 - $1,000,000+ in your own business, whatever you do, make sure there is a large component of FUN attached to it, or it will likely never work out; you have to love what you do. The only way to make money over $100,000 per year is to get out of your comfort zone; it is ok to leave your comfort zone for something better, especially if you want to dominate the money making game! Because YOU Deserve Money! Greg Nicholls 2006. Nicholls Enterprises - www.deservemoney.com |
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