TL:DR Be the guy that owns the shovels and rents them out, instead of a guy that shovels.
@sf64 – I have been able in my life to accumulate a great deal of financial resources. That accumulation of resources was the result of serious risk taking in the form of entrepreneurship. And it was the result of conscious decision making and a willingness to accept the risk to actively manage it.
I have said it previously and I will say it again. Entrepreneurship is one of the keys to leading a truly Alpha life.
There is a virtuous / self-reinforcing cycle that is present in world right now. Financial freedom enables Alpha behavior which fuels greater risk taking which fuels greater rewards which enables Alpha behavior…..
I am not advocating blind risk taking. I am not advocating just quitting your job and starting your own business. That isn’t taking a risk. That is being foolish. But I do think that finding a way to stop “making another dollar for the man” and become the man that others are making money for… should be considered as part of everyone’s long-term MAP.
Athol – This is something I really agree with. Most of my personal MAP to date had been aimed at getting out of a nursing job into making MMSL a going concern and source of consistent income. I’m by no means rolling around in money laughing my ass off, but it’s coming closer to getting into true profitability. It’s been a lot of work getting to here and some rather extreme risks as well. I’ve got some good stories to tell for “life story TV interview” should the big time ever truly arrive.
Something Jennifer and I have talked about is just how badly we screwed ourselves over the long term by both working in the non-profit sector. Lots of wonderful social service done, fairly simple lives of giving… but after seven years of no pay raises while inflation has eaten our paychecks like a Pac-Man after a Power Pill… well… we’ve screwed ourselves a fair bit.
So we’ve taken some risks. If they all fall to shit, we’ll have nothing but each other… which is the exact same outcome we’d have if we play it safe. The way the economy looks to be shaping up for the next 20-30 years, playing it safe is simply going to get you an utterly horrible retirement for a very large number of people. The truth is being a wage slave is the most horribly risky thing in the world to do. Your strategy boils down to simply hoping that there’s going to be a welfare net for you in 20-30 years.
I’d say “LOL”, but it’s about the least funny thing I can imagine.
Explaining the way the money really works…
George Carlin…. “The Owners”
The ugly truth is that not everyone gets to be a guy that rents shovels, most people are going to be a shoveller. Personally I’d rather work like crazy to get to be a shovel renter.
That being said, if you want the metaphor extended properly, MMSL is the shovel I sell. It’s low-cost, durable and does it’s job as advertised.
So yeah, the game is indeed rigged, but it isn’t impossible. It’s like I’m giving you the advice the Red Queen gave Alice…
“Well, in our country,” said Alice, still panting a little, “you’d generally get to somewhere else — if you run very fast for a long time, as we’ve been doing.” “A slow sort of country!” said the Queen. “Now, here, you see, it takes all the running you can do, to keep in the same place. If you want to get somewhere else, you must run at least twice as fast as that!”