Comments on: #1 Rule for Becoming Rich if You Are Young http://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/ Providing Financial Liberty through Financial Literacy Sun, 20 Jul 2008 12:49:56 +0000 http://wordpress.org/?v=MU By: Wil http://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-16518 Wil Thu, 21 Feb 2008 15:53:53 +0000 https://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-16518 Will Thanks for reading and for the comments. I congratulate you on your apparent success, but I couldn't disagree with you more about not being able to become "rich" as an employee, but only as an entrepreneur. As you say, it worked for you, but for many trying to go it alone, especially too early or without the proper background, spells certain failure. Young people, for the most part have none of the experience or training to overcome many of the obstacles that are present with owning a business. Is this bad? I certainly don't think so. Some of the "richest" people I know have made their money as employees who have diligently worked their way up the ladder. Along the way, they picked up several skills that have accelerated their growth and wealth building. Some of the "rich" entrepreneurs I know have a lot of money, but have made sacrifices in other areas of their lives, that I'm not sure they would have made if they knew the outcome. "Rich" is so much more than just having money. Again, thank you for reading, and for the comments! Will

Thanks for reading and for the comments. I congratulate you on your apparent success, but I couldn’t disagree with you more about not being able to become “rich” as an employee, but only as an entrepreneur. As you say, it worked for you, but for many trying to go it alone, especially too early or without the proper background, spells certain failure.

Young people, for the most part have none of the experience or training to overcome many of the obstacles that are present with owning a business. Is this bad? I certainly don’t think so.

Some of the “richest” people I know have made their money as employees who have diligently worked their way up the ladder. Along the way, they picked up several skills that have accelerated their growth and wealth building. Some of the “rich” entrepreneurs I know have a lot of money, but have made sacrifices in other areas of their lives, that I’m not sure they would have made if they knew the outcome. “Rich” is so much more than just having money.

Again, thank you for reading, and for the comments!

]]> By: Will Kriski http://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-16517 Will Kriski Wed, 20 Feb 2008 18:49:57 +0000 https://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-16517 We were sold a bill of goods that is no longer true. "Get a degree, and you will find a good job for life".Too many people are just trying to 'pay bills' and get by, focusing more on security than success. They don't think big and so they struggle all their lives. My advice for becoming rich is that you generally can't do it as an employee. Start your own business as soon as possible either as an independent consultant/contractor (as I do) or start a larger business selling products or services. Getting paid directly for your time is pretty limited. You need leverage. If you need to be an employee for a period of time, do it to get the experience and move on. If you analyze all the rich people, how many of them are employees? Realize that no employer is looking out for your best interests. You have to go after it yourself. I know that might sound a bit harsh but it's worked for me. Good luck to you all. We were sold a bill of goods that is no longer true. “Get a degree, and you will find a good job for life”.Too many people are just trying to ‘pay bills’ and get by, focusing more on security than success. They don’t think big and so they struggle all their lives.

My advice for becoming rich is that you generally can’t do it as an employee. Start your own business as soon as possible either as an independent consultant/contractor (as I do) or start a larger business selling products or services. Getting paid directly for your time is pretty limited. You need leverage. If you need to be an employee for a period of time, do it to get the experience and move on. If you analyze all the rich people, how many of them are employees? Realize that no employer is looking out for your best interests. You have to go after it yourself. I know that might sound a bit harsh but it’s worked for me. Good luck to you all.

]]> By: Wil http://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-14958 Wil Fri, 02 Nov 2007 14:46:47 +0000 https://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-14958 Thank You! I've always thought it funny that when we are raising our kids, we forget the great advice many of us were taught when we were young. Thank You!

I’ve always thought it funny that when we are raising our kids, we forget the great advice many of us were taught when we were young.

]]> By: BeingParents http://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-14910 BeingParents Tue, 30 Oct 2007 19:17:14 +0000 https://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-14910 Human beings tend to miss the simplest things. GREAT POST. Thanks for the reminder. Human beings tend to miss the simplest things.
GREAT POST. Thanks for the reminder.

]]> By: Wil http://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-11715 Wil Fri, 20 Jul 2007 14:23:04 +0000 https://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-11715 Thanks for the compliment! Thanks for the compliment!

]]> By: kidfinance http://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-11692 kidfinance Fri, 20 Jul 2007 12:47:01 +0000 https://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-11692 Short and straight to the point great blog post. Holding a job is always the first step Kidfinance- www.kidfinance.wordpress.com Short and straight to the point great blog post. Holding a job is always the first step

Kidfinance- http://www.kidfinance.wordpress.com

]]> By: Wil http://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-9495 Wil Tue, 03 Jul 2007 21:09:52 +0000 https://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-9495 I think none of us do as well as we would like. My point here is that too often, kids think about being rich without having a plan for being solvent. Thanks for the comment! I think none of us do as well as we would like. My point here is that too often, kids think about being rich without having a plan for being solvent.

Thanks for the comment!

]]> By: Phoenix Arizona car insurance, auto insurance, life, home owner quotes http://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-9491 Phoenix Arizona car insurance, auto insurance, life, home owner quotes Tue, 03 Jul 2007 19:46:12 +0000 https://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-9491 A generation or two ago they had a world war and their perspective was quite a bit different. I completely agree that before a person thinks about retirement they need a plan for their day to day living, learn to live within a budget and make setting some money aside every month a priority. Unless they get in the habit of saving it may never happen. I think people of a generation or two ago had a much better work ethic but I am probably guilty of not measuring up either in that regard. A generation or two ago they had a world war and their perspective was quite a bit different. I completely agree that before a person thinks about retirement they need a plan for their day to day living, learn to live within a budget and make setting some money aside every month a priority. Unless they get in the habit of saving it may never happen. I think people of a generation or two ago had a much better work ethic but I am probably guilty of not measuring up either in that regard.

]]> By: Wil http://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-708 Wil Thu, 22 Feb 2007 15:12:12 +0000 https://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-708 Easy- Thanks! I wasn't sold on the music anyway. I think I'll nix it for now. Easy-

Thanks! I wasn’t sold on the music anyway. I think I’ll nix it for now.

]]> By: EasyChange http://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-706 EasyChange Thu, 22 Feb 2007 02:13:01 +0000 https://finance4youth.wordpress.com/2006/08/30/1-rule-for-becoming-rich-if-you-are-young/#comment-706 I like your blog; seems like there is a lot of good advice. The one suggestion I would make is to leave the music off by default. I browse these sites at work and the music might get people in trouble. Keep it up; great advice. I like your blog; seems like there is a lot of good advice.

The one suggestion I would make is to leave the music off by default. I browse these sites at work and the music might get people in trouble.

Keep it up; great advice.

]]>