how's it going today guys welcome back
to the channel hope you're having a
great day so far so what we're going to
be talking about today in this video is
basically one of these pivotal lessons
that I learned when I was about maybe 20
to 21 years old on how basically you
traditional path and getting a
nine-to-five job well basically it's a
complete scam and that's what I want to
show you guys in this video is exactly
why going out and getting a nine-to-five
or going and getting into massive
amounts of debt getting a college degree
in most cases ends up being a complete
scam for people and I'm basically going
to show you guys what this looks like by
drawing it out in terms of your net
worth based on your age and for those of
you who are not familiar with net worth
I'm not surprised because this is not
something you typically learn in school
your net worth is basically how much of
value you have in terms of your assets
so if you take your assets and you
subtract out your liabilities or your
debts that's going to give you an idea
of your net worth and we're going to
look at the net worth over time of
following basically three different
options option number one I call the
poorly paid indentured servant which is
basically going out there leaving high
school and getting any job you can maybe
you're doing fast-food maybe you're a
mail carrier I don't know what it is but
it's a job with no prior education and
following that path option number two is
going to school getting a college
education and then entering the
workforce as a slightly higher paid
servant who is in the massive amount of
debt and then option number three is one
that a lot of people just do not have
exposure to based on the environment
based on the fact that you know you
don't learn about these different ways
of making money in school but this is
option number three which is the path
that I followed that I really wasn't
exposed to until I was about like I said
20 to 21 years old alright so first of
all we're gonna start off with option
number 1 which is the poorly paid
indentured servant which is basically
leaving high school and getting a job
well what is that going to look like
here on this chart basically it's going
to be a very gradually increasing line
now the advantage to this here is that
you're not in debt hopefully unless you
have you know credit card debt you at
least don't have student loans that
you're you know trying to get paid off
and so hopefully you're going to have a
growing net worth from day one now the
disadvantage to this is that these are
often the most undesirable jobs may be
doing fast-food or retail you're not
going to be paid a lot of money and
you're also what we call a commodity
your easy to replace and your employer
knows this and as a result oftentimes
you are not treated as well as you maybe
should be and it's just not a great work
environment so most people don't want to
end up in this option and so what they
do and what the education system pushes
people to do is follow option number two
which is to go out there get some form
of college education to hopefully get a
slightly better nine-to-five so let's
draw that one out now and see exactly
what that would look like so option
number two of being a slightly higher
paid servant that's in a massive amount
of debt it's actually going to look like
something like this so you're going to
actually start off with a negative net
worth here as you go into debt in order
to actually get hopefully a slightly
better nine-to-five you know once you
graduate so you're starting out your
early 20s here or you know your late
teenage years you know with tens of
thousands of dollars of debt in most
cases when you're getting that two-year
four-year six-year degree or maybe
you're going off and you know going to
be a lawyer or a doctor you know with
eight plus years of school nonetheless
once you finish school you have put
yourself in most cases into a serious
amount of debt but then you get a
slightly better job so that line
increases maybe at a slightly faster
rate and then you maybe end up somewhere
over here now what's interesting to me
is that most people will talk about
going out and getting a college
education they talk about how good of a
decision it is and how basically you're
an idiot if you just go out there and
get a job but if you actually look at
this here in terms of the net worth here
assuming that you know you don't have
crazy expenses and you are able to grow
your net worth you know you actually
didn't really make a good decision until
you have all of your debts paid off and
that's at this line right here when your
net worth finally starts to grow a
little bit
Esther then somebody who just went out
there and got a job because despite the
fact that you might be making sixty
seventy eighty thousand dollars versus
somebody who's making thirty or forty
maybe a little bit less you still need
to pay off all of those debts before you
start making more in having your net
worth grow because basically paying off
all those debts is going to be a massive
burden on you until you get that paid
down so that is option number two now a
lot of people you know don't like this
option for a number of reasons first of
all the biggest one in my opinion is
that you have to start off you know
twenty thirty thousand dollars in debt
just to dig yourself out of debt just to
eventually have a higher net worse than
somebody who just went out there and got
the first job that they could get their
hands on the other option why people
don't like this is because again the
jobs you are getting here are often not
the best jobs it all depends on what
you're passionate about if you're
passionate about accounting or
administrative work or HR or anything
like that maybe this is the path for you
but it's certainly not the path for
everybody and the disappointing thing to
me is that going through the traditional
education system these were the only two
paths that I saw now personally this is
what I did I was fortunate enough to
have some money from my grandfather to
go to a community college so I did not
spend a lot of money I spent about ten
thousand dollars in my entire college
education he reimbursed me for that and
so as a result I was able to start off
you know at least with a flat net worth
or slightly positive because I had some
savings so essentially I was a slightly
higher paid servant who didn't have any
debt so just a little bit better than
people here in option number two but I
learned very quickly that this was
actually not a path I wanted to go down
and it seemed like kind of a scam
because I wasn't able to have any time
freedom I didn't get pretty much any
vacation and even though I was making a
little bit more money than the average
person I found that because I was paying
higher taxes it was almost kind of
balancing itself out so that is what I
learned about option number three now
option number three it's not a set path
for everybody for a lot of people it's
what you call entrepreneurship but I
actually don't even really like that
label because of how much this has
change
in the recent years because of the
internet but the way I define this it's
taking risks of some kind learning from
your mistakes and eventually creating
something on your own now whether that's
a physical business or if it's some kind
of internet-based business that's all
based on what you decide but personally
I would always recommend some kind of
internet-based business because of the
nature of these businesses being you
know low expenses and something else I'd
like to think about too is think about
fifteen or twenty years ago if you
wanted to go out there and start a
business it would look something like
option number two here because you would
have to go out and put together a
business plan you'd have to go to the
bank and you'd have to get a loan and
then you'd have to lose money for the
first two years and then eventually
hopefully start to make money and end up
somewhere over here and that's just not
what entrepreneurship looks like anymore
today because of these internet-based
businesses that you can create so option
number three let's go ahead and draw
that out and see what that might look
like and this right here is why most
people don't follow option number three
they either don't know it exists at all
because they're only shown you know
option one and option two in school or
the other reason is because you don't
really make any money the first couple
of years in most cases so it starts out
flat like this and then it usually picks
up and goes up like that
if you're successful now are you going
to be successful with your first venture
probably not I've had a lot of failures
in the past you know dabbling around in
entrepreneurship or just creating
something myself but this is why people
often don't follow this path is because
it'll take you anywhere from I don't
know one to five maybe even longer years
to actually see some results
now with these internet-based businesses
it can be a lot quicker
my first ventures with making money
online you know I started making money
in a relatively short amount of time but
this is the only option that I see where
you can have this kind of exponential
growth of your net worth because
following option number one you're gonna
top out at a certain pay rate after a
period of time maybe you're going to get
incremental raises but odds are you know
once you account for inflation you're
basically being paid the same amount of
money and you have this linear growth of
your net worth option number two in
terms of your net worth you're still
just seeing that linear growth because
even though you are slightly higher paid
you are still probably gonna top out at
a certain pay rate for me with the job
that I had it was a pay rate of about
$100,000 per year which may sound like a
lot to you guys but it's actually not a
lot of money once you factor in your
taxes and any other expenses so for me
option number three was the only option
that made sense to me it's to create
something yourself and it's the only way
I've ever discovered out there that
could have that kind of exponential
growth curve when it comes to your net
worth and so what this was for me this
was going out there and creating a
YouTube channel in creating these
different online assets and ultimately
leveraging you know affiliate marketing
I know if you guys want to learn more
about my business I do have a completely
free ebook I put together it's basically
a blueprint I put together on how to
build an audience or build the following
online which is essentially what I've
done to have this kind of exponential
growth with my business so I'll go ahead
include that as the top link in the
description below if you guys are
interested and it kind of goes into more
detail here of you know what has this
been for me
that has grown my net worth
substantially that wasn't you know
following these other two options that
were laid out in front of me but anyways
guys that's gonna wrap up this video I
hope you enjoyed it let me know what you
think in the comments section below
about these three different options and
whether or not you've ever really heard
of you know anything like option number
three here which involves you know
taking some risk but eventually
hopefully having some kind of you know
exponential growth with your income or
your net worth but thank you guys so
much for watching this video I hope you
enjoyed it and I will see you in the
next one
#Best Education Page #Online Earning
online earning,make money online, earn money online, online earning, online earning sites,
make money online free, online money income, earn money online free, money online, best way to earn money online, online income site, money earning websites, best online earning sites, easiest way to earn money online, earn money payment bkash, online money income site
Posts
No comments:
Post a Comment