I had a recurring thought today that I was going to find a big bag full of cash. Millions.
I was out for an early walk at the beach before starting my workday. I imagined I had come across this cash. With no-one around and after I tried to turn it in there was no-one to claim it.
My thoughts went through how I would use the money to help others and then if there would be enough left over to stop working.
Or, should I keep working and earn more even though now I will not need it. I thought.
Fun idea. And, a similar idea to the what-ifs people share when they discuss what they would do if they won the lottery.
Bags of Money – Millions
In my case, I have won the lottery. I have found several ‘bags of money’ in my life. Additionally, where you would least expect it.
At work.
The Record
I went through my records to see how much I have earned working for others. My employment income.
If I were to put all my employment income into a bag, my bag would have over $2,700,000 in it so far.
I was able to save on average 18.5% of this employment income annually which has accumulated compound interest. Subsequently, this now represents savings of 84% of my total lifetime earnings to date which will support me in retirement.
Life Does Not Follow Your Plan
If all had gone to plan and I started using the 4% rule for retirement spending I could retire and live comfortably off this nest egg. However, life does not always go as planned.
So, I am left with a few important items to clear up before I dedicate 100% of my time to the beach and travel.
You may be thinking that I must have had some very high paying jobs. Or, I am probably the boss’ brother.
Poverty Level Income
Definitely not. Quite a few of these jobs were minimum wage jobs. It is true, some paid much less than poverty level income.
One year my income was almost zero.
Careers Are Like Investments
You invest and learn. Additionally, you watch for key opportunities and you act. Above all, you build on skills and abilities and develop relationships.
Earnings increase with your ability to have a positive impact. Consequently, if you make good decisions along the way you generate wealth as you grow.
Hard Work Pays Millions
If anyone has ever complained to you that hard work does not pay off. I am here to tell you they are wrong.
It took me some time to develop a good relationship with money. I now have the ability to earn more than I was able to earn when I first started working. Additionally, I now have a stronger foundation on which to make sound financial decisions in managing that money.
I have also learned lessons from a number of the great destroyers of wealth. Lessons that I choose not to repeat.
Money Is A Tool
It gives me the ability to support my family. Additionally, it has allowed me to give to charities and support others. Thankfully, it gives me the ability to travel to where I need to be for work and for experiences.
Life is finally starting to give me the ability to dedicate my time to my purpose without the focus on money. Financial independence is within reach and with that comes more freedom.
Seek Freedom
Looking back, I can say that I started small and every step along the way helped me learn what I needed to move forward to a better place.
We all start somewhere and many of these steps can be difficult.
For me, the important metric in measuring your financial performance is not how much you earn but how much of your earnings are yours. Above all, what you did with the money that passed through your hands.
Did you make choices that created options for your future? Did you help others? Do you have any wealth in your life to show for the money that came to you?
It is never too late to start. And, working for someone else can make you wealthy.
My Point Is This
When you are establishing your vision and goals for financial independence; how you earn the money that brings you there is not as critical as meeting the first requirement of Personal Finance Mastery.
The first requirement: you have created a steady flow of income.
Do not exclude the option of working for someone else. Make choices that create options. And, keep your eye on your goals.
How To Make Millions Working For Someone Else
- Start early, do not be picky
- Build knowledge and relationships
- Learn from your mistakes, choose not to repeat them
- When things go wrong, get up and try again
Additionally, all of our posts in the Personal Finance Series can be found here.
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