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- Why You Don’t Want to (Just) Make a Lot of Money
Original post date: September 04, The difference between high-paid employees and entrepreneurs America has a love affair with celebrity. Most people spend lots of time and energy keeping up on the lives of their favorite movie stars, and many idolize them.
The psychology of making money.
But the reality is that movie stars, for all their glitz and glamour, are just very high paid employees, though admittedly with a lot of clout.
Just like a CEO, a lawyer, or any other high paid employee.
As a consequence, they work insane hours and rarely have free time. Not exactly as glitzy as it sounds on the surface.
The smartest actor in the bunch
So how did he pull that off? Turns out Clooney is an entrepreneur too. To earn that, he had to do three films and a TV show. This is an interesting contrast, however. Clooney made almost twice as much as Johnson, while probably working a lot less hours.
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And it serves as a great example of why being an entrepreneur is always preferable to being a high-paid employee. Say hi—or bye—to the tax man. Your choice.
Beyond having more time on his hands, Clooney most likely paid a lot less in taxes than Johnson did for his money. So not only did Clooney make more money doing less, but he also kept more of it than Johnson did thanks to the tax codes that favor business owners.
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Cash flow is king In addition to his business sale, Clooney also enjoyed passive income from both endorsements and his older movies. Most likely Johnson did too. The same goes for my business.
That is the secret that all wealthy people know: cash flow is king. The only thing that makes you wealthy is if you can stop working and still pay all your expenses.
That is the true test of financial freedom. The beauty of being an entrepreneur is that you can make money work for you, not the other way around. I could retire today, not work another hour, and never have to worry about money.
- 5 signs you're going to make (a lot) more money in the future
- Twitter Peggy James is a CPA with 8 years of experience in corporate accounting and finance who currently works at a private university, and prior to her accounting career, she spent 18 years in newspaper advertising.
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- Но если и после предупреждения.
That is what I call wealth. Start dreaming differently I know a lot of people who dream about having a high-paying job.
I also know a lot of people who wish they were a famous actor. You have to work a lot when you get to don t make a lot of money level.