There are Many Ways Of Gaining Wealth, It's how you want to live matters! -- Akhilesh Bhagwat

There are 3 ways of making money or wealth, first is job second is self employed third is business!

For job you will be working for your life as your output (earning money) depends on your input (you working). Also you will be competing with many people & it's not necessary that you will find a job you love. Yet if you are someone who works on a job he/she is passionate about then it's a good choice the only thing is you would need to create other assets for passive income or else wealth will be miles away.

Second is self employed here you are the boss you don't work under anybody yet the problem is here too your output (earning money) depends on your input (you working)

Take a example of carpenters or plumbers they work alone at their own time yet they only earn when they work which is not good in long term. It's similar to job the only difference is here you are your own boss rest remains same. Anyway if you are self-employed then use tools for leverage. For eg- A mechanic can use machines to do the tasks instead of him doing it. It helps in getting work done quickly, have competitive advantage. Yet remember here too you will be working for your life & cannot earn when you are on vacation, sick. So here too you need to create assets for passive income

Third way is business or in modern term entrepreneurship. "A business is something which works without you while a job is something which cannot work without you". So here your output (earning money) doesn't depends on your input (you working)

Remember if the above thing is not happening then you are doing same as what happens in job, self employed. Here you get leverage, equity which helps you earn even when on vacation, you fall sick. In older days it was labor leverage you would need other sapiens or humans to work with you yet in modern world you have robot leverage you don't need to pay most of them also they don't strike and can work 24/7. eg- Sales before it was each person going door to door to sell things now it's just Google ads, FB ads or organically social media, blogs help with it with you sitting at one place. And you can do this things alone and let the robots do the rest. Also due most organic mediums being free you now don't need to invest a penny in marketing or scaling your business. Business can be small or big it depends on you and your own needs, goals. Here too it's better to create more other assets

There are many ways of gaining wealth it's how you want to live matters. If you want to be financially independent then asset are important. Remember we are talking about wealth not money

  --Akhilesh Bhagwat

Choose whatever path you are comfortable with & are passionate about!

Thank You For Reading! I believe you learned something new today!

 

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