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No Job is Safe Unless You’re the Boss

November 15th, 2005 · 5 Comments

Alexander over at The Wealth Junkie has a very good post on why your job is not safe. 75% of all millionaires according to The Millionaire Next Door are self employed. Read Alexander’s post here.

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5 responses so far ↓

  • 1 Alexander Barbara // Nov 15, 2005 at 11:03 am

    Thanks for noticing! I appreciate the link! :)

  • 2 Russell // Nov 15, 2005 at 6:25 pm

    Only 75%? I would have figured it would have been a lot higher percentage! Great read!

  • 3 Ray // Nov 15, 2005 at 9:04 pm

    Russell,

    I apologize my number were incorrect. Here is the correct quote.

    “In the 1996 book The Millionaire Next Door: The Surprising Secrets of America’s Wealthy, the authors state that two-thirds of the millionaires are self-employed, with 75 percent of them entrepreneurs, and the remainder professionals such as doctors and accountants.”

    That means about 66 out of 100 millionaires are self-employed. Still a good percentage.

    Thanks

  • 4 Alexander Kintis // Nov 15, 2005 at 9:37 pm

    Whatever the case is, who doesn’t like being in charge?

    It is a risk to start your own business and/or be self-employed but — in my opinion — working for someone else is a dead-end.

    I am ready to go on my own however I’m afraid that I’ll lose focus. Working from home, it is so easy to lose focus and just do other things because your always at home. I guess it is a matter of discipline.

    For me, it is very easy to lose track because I like to be on the computer — for example, to check out your blog and see if its been updated — and snoop around on the internet. I guess it’s like that for now because after a 42.5 hour work week, not including traffic and school, I need some “me” time. Hopefully, if/when I make the leap, it can discipline myself, make certain rules or suggestions, and try to follow them within reason.

    Long story short, it is very important to stay focused.

  • 5 Ray // Nov 15, 2005 at 10:31 pm

    Alexander,

    I have been working from a home office or hotel room for the last 3-4 years. It is hard to stay focused. You have to motivate yourself everyday to perform at your peak. It will get easier as go along. My motivation to perform, interestingly enough, has not been about money. It has been ” performance excellence”. In other words, can I do what I do better today than I did yesterday. This type of motivation keep you reaching futher everyday.

    Regards

  • 6 Retirement Planning Self Employed // Feb 24, 2008 at 1:40 pm

    Are You Self-Employed: Now Special Loan for You…

    Gone are the days when lenders used to offer loans only to people who had fixed monthly income through a full-time job. But now owing to heightened competition, there is a race among lenders to tap new clients-and-here comes the self-employed category …

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