Rich vs Wealthy | What Will Your Career Get You To?
Rich vs wealthy, is there a difference between the two? And how can you get to them? In this video, Matt reviews a video clip going over their thoughts on how ownership is the only way to get wealthy, not by your career. Matt has some thoughts on the topic as well and it might surprise you.
There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this series watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!
Video Transcript:
Business Advice Video:
You can get rich through a career, but nobody gets wealthy through a job or through a career. You get wealthy by three things, investing in real estate, investing in businesses, or investing in your own business, or investing in stocks. You need ownership for wealth. You need ownership. Career? Nah. That might set you up. You know, you might get rich so that you can then take the step to buy.
Matt’s Review:
Okay, I think I mostly agree with this. I think owning things is what gives you long-term wealth. You can certainly have a job where you then make enough money that you can invest in owning things as a sideline, and there are lots of things that you might be better off doing as a job and be happier at doing as a job than trying to recreate as a business. So, for example, if you’re a surgeon, trying to start your own surgery business probably wouldn’t let you have a lot of time to do surgery, and you’d need a whole hospital and team and setup and everything else and you wouldn’t be able to do it nearly as well. So if what you really love is being able to help people through your surgical skills, great, don’t quit that job to go start, try and start a business. Hopefully, you make enough money that you can then invest in some of those other things that’ll also build wealth. So it’s not that you can’t get wealthy by having a job, but it’s probably not the job that will make you wealthy, which I think is. The point she was getting to. I also don’t think you have to invest in real estate or have to invest in stocks, but those just happen to be two of the best vehicles for building wealth. So that would be a smart place to look. So I agree that building wealth overall is easier done when you own things, but you don’t have to be the owner or start your own thing in order to own stuff. You just have to have enough discretionary income to be able to buy stuff, which oftentimes comes with having started your own thing, if you love what you do in your career, don’t think that you have to quit in order to be wealthy. It’s not an either-or. It can be both. You just have to plan for it.
