Rich Dad Poor Dad changed my life and ruined my life at the same time. After reading RDPD I lost any respect for the day job. I knew I had to become an entrepreneur. This caused me to be a terrible employee because I just didn’t see the use when I knew in my head I as going to be a mogul!
As I have grown older, read more books, launched more ventures, listened to podcasts and interacted with successful business owners I have realized that a job does have its place in the life of an entrepreneur. A job sustains you while you build then a job allows you to go all in on your investments once its built.
Jobs are not for suckers
I know that we have all seen that meme that talks about how we sell off our dreams for $15 an hour and then the response meme that calls that meme out and says that a job does have its place. We have also heard the infamous Dame Dash interview where he talks about how calling another man boss is like calling another man daddy. All of those things would indicate that having a job is something you should never do. Well, all advice isn’t advice that is tailored to your particular situation.
For most of us, we aren’t sitting on million dollar loans from our father. For most of us, we can’t live in our parents rental property or other property rent free while we build our business. Most of us have to do both.
The key though is that each of these things have their place. I believe that a job is meant to keep you alive and your business creates your wealth. If you think that a job is going to create wealth for you then you are out of your mind. You have to completely remove this thinking. If you adopt the mentality that it is your 5-9 and weekend money that builds your wealth I think you can have better expectations of that job and also have a better expectation of what you are supposed to do with your spare time money.
What I have done is I work my day job and I work it well. But I hustle in the off hours to build my legacy. Living this way helps you keep business income for business purposes not for your lifestyle. Living this way lets me take all business revenue and invest it back into the business, back into stocks or into real estate. Living this way actually lets me invest MORE than I would invest if I was trying to scrap money from my job to invest. My business often times generates MORE than my job but all of it goes into my asset column.
Business income comes in flows and if you use it wisely on expanding your empire and your wealth it can rapidly do so. Much faster than if you just did your little 4% from your job up to the employer match. That’s some slow lane millionaire stuff. Business income is the start up and investment capital that you think you need a VC to drop on you.
Don’t quit your day job
One of the worst things you can do is take passive income and go on vacation. For those of us chasing financial freedom (when your passive income exceeds your living expenses) this can push people to then retire and not work. This is silly.
You only have so many hours in your life to be young and work as hard as we can work now. It is insane to spend that time on a beach chilling, wasting away your youth. Even if you are financially free this isn’t an excuse to chill.
I recommend that you keep your day job. If you don’t keep your day job you have to build a business and occupy your time. This should be the goal with financial freedom, to do the work you love not the work you just have to do to pay your bills. HOWEVER, if you aren’t building a business, then you do need to keep that job even if its just for the benefits, perks and stability.
I propose that you keep the job that pays your bills, work in the nights and weekends for your wealth. Use your spare time to become wealthy. This is the hack. This is the solution. We have to work harder, sacrifice more and then not use that excess money for the play play. When you truly look at all the hours in the week and all the avenues there are to make money in Donald Trumps America you realize that poverty, debt, and living paycheck to paycheck is a choice.
You can never have too much money
I believe that you have to fight the battle on two fronts. You can’t quit your day job and say yolo just because you want to start a business. You also can’t work your job and not build a business. Its ok to do both. You MUST do both. Its imperative that you build and sustain at the same time. You must work your day job, honor your day job, but realize that day job is not going to get you wealthy. Your spare time is what is going to make you wealthy.
Then once you get that wealth, keep working, keep building, keep stacking. Stack it until you have no where to put it. In the good times is when you stack so that in the bad times there is no lack. Please please please don’t take this advice and then go engage in the Instagram Olympics. Do yourself a favor and unfollow anyone who engages in that game too. That’s what I did. We are chasing wealth and legacy not likes and shiny things. Don’t quit your day job.
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Be great and invest well!