skc
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That sounds like a great investment. Where do I get more information??
He now has a 22 tonne Hitachi excavator---its floated to work by a contractor.
Neil his employee drives it a $26.50/Hr. He sets it to work at $150/ hr and $250/ hr with a Rock breaker. He is now (After 12 mths) permanently booked.
He plays golf enjoys life still cant operate the machine and spends a few days a week visiting site and pushing Palm---coffee's and lunch with clients.
He pulls around $3500/week taxable profit.
Now he only has 1--
I have 5
A good example of this is me and my mum.
She looks at her energy bill and works so hard to see how much she can save on it, but i tell her the only problem with saving is that its capped (i mean your not gonna get it for free always).
Me on the otherhand i think about making not saving.....
A mentor said this to me a while back
Saving is limited
Making is unlimited
If you learn how to make money then there is no limit to anything. Unfortunately 95% of the population falls in the saving category.
I disagree.
I have a saying....
It's not how much you earn, it's how much you save that determines how successful you'll be
You get people earing 100k a year, yet they're living pay check to pay check?!?
A mentor said this to me a while back
Saving is limited
Making is unlimited
If you learn how to make money then there is no limit to anything. Unfortunately 95% of the population falls in the saving category.
Agreed in principle but I still see no reason to be paying $1000+ quarterly power bills just for the sake of it when with a bit of thought that can easily be halved (or more).A good example of this is me and my mum.
She looks at her energy bill and works so hard to see how much she can save on it, but i tell her the only problem with saving is that its capped (i mean your not gonna get it for free always).
Me on the otherhand i think about making not saving...
"Its not how much you earn but WHAT YOU DO WITH IT that will determine your wealth."
My "Earnings" give me the ability to borrow (when required large sums) due to serviceability--- this in turn maximizes return on $ invested and I like making $$s from large sums of other peoples money--Property--Steel bought on Indent---Leases on income producing equipment.
Saving it ISN'T PUTTING IT TO WORK!
Your wasting your biggest asset--- crippled by fear of loss---your not thinking entrepreneurial.
Your thinking like a squirrel.
Think ENTREPRENEURIAL
For those who are not entrepeneurial then saving is far better than doing nothing. Obviously it pays to keep your eyes/ears open for opportunities, but some people do not have the know-how or experience to start a business.
By the sounds of most of the things you mentioned, they are all within a similar industry as that is the one you have experience with. For someone not in the industry it would be a lot harder to know what is actually needed
I would argue that very few that do not have a degree behind them could create real wealth without self employment.
Whatever you do, do it well...I would say if you are in the top X (5, 10?) percent of what you do then you will be paid well above average, and if you are the best at what you do you can pretty much set your price even if you are working for someone else.
Who has ever created great wealth through employment lol, or is this thread about becoming middle class lol
you have to create/invest for yourself or inherit... working for somebody else is not going to get you there, this is the problem with the education system teaching us to work for somebody else.
You can definitely create great wealth through employment...
C-level executives, board members, investment bankers, private equity, institutional traders, partners at law firms, accounting firms, management consultancies, specialist doctors, entertainers, sports star... And even stock brokers, real estate agents and insurnace brokers. They are all employees capable of earning earn multi-million $$ year after year....some of them don't even need a uni degree. You just need to be on top of your game.
http://news.hereisthecity.com/2007/01/22/the_highest_paid_inv/
To me employment is as easy a path as they come when it comes to acquiring wealth. Not everyone can do it well... but that's why not everyone is wealthy.
I guess it depends on your definition of wealthy is as well, i would argue that sure some board members are wealthy but so is the CEO of ANZ but thats not a job most people will get.
I would also argue that lawyers, accountants ect are just middle class. There are ways to make good money in parts of finance but you are always constrained by your employer.. if you have the skills go out on your own and you will prosper much more.
Your job won't make you rich it's what you do outside your job that makes you rich. Anyone that disagrees would be in the 5% of people that have 250k a year jobs. Even still they may not be free in a financial way.
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