Kyle Aaron
Active member
In principle, Hulk, you're right. If you earn $100/hr instead of $10/hr you can work one-tenth as much, or at worst one-half.
In practice, to get to a position where you can earn $100/hr requires many many years of unpaid overtime at work, unpaid networking at work parties, and so on. And once you get there, you find it's a 60-90hr a week job.
Passive income, if I am correct in assuming you mean interest, share dividends and so on, it's true that this can involve very little investment of time. However, the recent global financial fashlah has shown that some people did indeed need to invest more time in these things, to look more closely at them. Always some people get lucky, but more people are unlucky. The consistently successful ones are those who treat their investments as a full-time job, researching things thoroughly, buying and selling when appropriate, and so on.
Even in something as simple as renting out a spare house, unit or apartment, this takes time and effort, so much so that many homes remain empty because the landlord doesn't think it's worth the trouble.
Apart from a few who just get lucky, there's really no such thing as a free lunch. Earning money takes time and effort; earning a lot of money takes a lot of time and effort. There's nothing wrong with doing that, so long as you're aware that it'll take time and effort away from other things in your life.
Again, that does not mean that every wealthy person is miserable outside financial stuff, nor does it mean every poor or working class person is delighted with their non-financial life. But just as strength and size go together, so too do income and the time taken to earn that income.
I don't think people need a chart and numbers to know where their lives are lacking or doing well. If your work life is crap you know it, if your hobby life is great you know it, and so on. The problem there is not knowing you have some problems, it's figuring out how to solve them, how to balance things.
In practice, to get to a position where you can earn $100/hr requires many many years of unpaid overtime at work, unpaid networking at work parties, and so on. And once you get there, you find it's a 60-90hr a week job.
Passive income, if I am correct in assuming you mean interest, share dividends and so on, it's true that this can involve very little investment of time. However, the recent global financial fashlah has shown that some people did indeed need to invest more time in these things, to look more closely at them. Always some people get lucky, but more people are unlucky. The consistently successful ones are those who treat their investments as a full-time job, researching things thoroughly, buying and selling when appropriate, and so on.
Even in something as simple as renting out a spare house, unit or apartment, this takes time and effort, so much so that many homes remain empty because the landlord doesn't think it's worth the trouble.
Apart from a few who just get lucky, there's really no such thing as a free lunch. Earning money takes time and effort; earning a lot of money takes a lot of time and effort. There's nothing wrong with doing that, so long as you're aware that it'll take time and effort away from other things in your life.
Again, that does not mean that every wealthy person is miserable outside financial stuff, nor does it mean every poor or working class person is delighted with their non-financial life. But just as strength and size go together, so too do income and the time taken to earn that income.
I don't think people need a chart and numbers to know where their lives are lacking or doing well. If your work life is crap you know it, if your hobby life is great you know it, and so on. The problem there is not knowing you have some problems, it's figuring out how to solve them, how to balance things.