Hey folks - some great discussions going on here and wanted to branch off into another topic that was brought about by a prior conversation
—
When it comes to income classes (lower / middle / high) - many people have stated that the difference between middle class and high class is that middle class (even upper middle class) has to work for their money, and if the job stops, their life stops.
Whereas high class people may often live off investments / own companies that are often ran by a team day-to-day versus themselves being directly involved etc - effectively more passive income then direct time-for-labor income
—
With that in mind… if you DONT become an entrepreneur, or get lucky doing investments etc, are you forever doomed to be middle class ?
If the gateway to upper class is passive income or owning things, then it’s nearly impossible to get there WITHOUT doing that, right ?
I mean think of very high income earners, like heart surgeons, they may make 800,000 a year, but when they retire, so does the income. The only way to get residual passive income is to own things and put a team in place to operate the day to day for you
So ultimately if you wake up one day with a desire to break out of the middle class, it’s time to start looking into ownership opportunities and quitting your 9-5…. Are we all forever trapped in this bracket unless we do something drastic ?
—
When it comes to income classes (lower / middle / high) - many people have stated that the difference between middle class and high class is that middle class (even upper middle class) has to work for their money, and if the job stops, their life stops.
Whereas high class people may often live off investments / own companies that are often ran by a team day-to-day versus themselves being directly involved etc - effectively more passive income then direct time-for-labor income
—
With that in mind… if you DONT become an entrepreneur, or get lucky doing investments etc, are you forever doomed to be middle class ?
If the gateway to upper class is passive income or owning things, then it’s nearly impossible to get there WITHOUT doing that, right ?
I mean think of very high income earners, like heart surgeons, they may make 800,000 a year, but when they retire, so does the income. The only way to get residual passive income is to own things and put a team in place to operate the day to day for you
So ultimately if you wake up one day with a desire to break out of the middle class, it’s time to start looking into ownership opportunities and quitting your 9-5…. Are we all forever trapped in this bracket unless we do something drastic ?