Yes, entrepreneurs work 80 hours per week so they don't have to work 40 hours per week.
Let that sink in a bit.
Perhaps that's why most most readers who read Rich Dad Poor Dad do their best to ignore the elephant in the room...
Rich Dad is a Business Owner.
SMOL,
ReplyDeletework 12 hours everyday, and some days more. no guaranteed of success and chance of financial ruin or deterioration very real.
That is why I have respect and no sour grape mentality when I see Entrepreneurs succeed
I am ok to work 60 hours
Sillyinvestor,
DeleteWhat?
I didn't know teaching can take 12 hours???
Wow!
That's not healthy...
You take care.
Then again, if this is what you like to do, then like entrepreneurs doing what they love, 80 hours work week is just play to them ;)
Now, if I can find some company to pay me for gaming all day...
I say I work 60 hours week, not teach 60 hours week.
DeleteTeaching like u say, is the fun part
Sillyinvestor,
DeleteI guess after so many changes in Education Ministers, the challenge of teachers overloaded with "non-teaching" work still has not been addressed...
In the medical field, I'm glad to see they've hired admin staff to take over most of the "admin" related duties from nurses.
Hmm... Then again, you are a data point of 1.
Next time got class reunion I must ask my classmates who are teachers like you. One is even a principal!
Trust but verify ;)
Lol. Sure.
DeleteI won't not want to speak for anyone except myself.
It is already so much better. Not complaining. I made a choice.
Impossible to he 80 percent related. 70 percent is already a blessing to me now.
Entrepreneurs enjoy the flexibility of doing what they want at their own pace. Own time own target. Price to pay for this freedom is longer working hours.
ReplyDeleteSalary workers usually enjoy shorter working hours but the price they pay is loss of freedom to do what they want during working hours.
I respect entrepreneurs but don't envy them. Respect them because our high standard of living are largely shaped by the past and present successful entrepreneurs.
Never read the book "Rich Dad Poor Dad" before.
hyom,
DeleteEntrepreneurs are working towards their OWN dreams.
Salaried workers are helping entrepreneurs/bosses achieve their dreams.
Its a simple book. But it has one great appeal in that it opens most readers' eyes when it comes to what is an "asset", what is a "liability".
Especially when it comes to property.
Property snake oils and MLM promoters love this book! It saves a lot of their time as bei kambing readers who are big fans of the book have already ownself psychoed ownself.
Those who grasped the essence of the book have become snake oils themselves - these are the "gurus" who are Business Owners teaching others how to get rich, make money online, achieve FIRE, etc.
Free you may want to read the book. Its like vaccinations. Then you'll know when snake oils try to push your buttons ;)
SMOL,
DeleteAbout the "gurus" who teach how to get rich, I was highly biased against them in the past. How not to be biased when one of your loved ones was a victim?
Today, I have changed my mind somewhat. I think the fault lies mainly with the students themselves. To learn effectivey, one has to ask the right questions. Instead of doing that, many of the students just want the answers. Just tell me what and when to buy.
Those "gurus" are running a business. Even if some of them started off with kind intentions, faced with these kind of sheep customers who are asking to be fleeced, entrepreneurs will adjust their business model accordingly. Don't even need to be a snake-oil to push the right buttons. The sheep customers ownself push ownself buttons.
Today, I view the more decent "gurus" as running an education business. For people who can't self-learn from cheaper books and internet, then pay for these more expensive courses.
hyom,
DeleteYes, it takes 2 hands to clap.
Willing seller; willing buyer.
Imagine if some universities start selling engineering courses as the path to FIRE or riches, or it just takes 2 or 3 workshop to be an engineer, those of you who are engineers would laugh.
Similarly, those without a finance background would be better off taking those finance for non-finance professional courses (got exam ones which HR recognise), if one wants to use fundamental analysis.
But its "hard", so most bei kambings prefer to take "fundamental analysis" at kindergaten level at exorbitant prices from non-recognised homemade "academies" instead...
And of course when it comes to voodoo technical analysis, its anything goes. I laugh so hard when I saw in Youtube an ad on trading with different Moon phases or astrology???
Well, if its faith-based, anything goes!
People don't stop to think. How does Warren Buffett or Peter Lynch get to be where they are? They took a Mastermind Class over the weekend?
"Gurus" are running a business and we are their source of revenue. I personally experienced and attended cheap educational course on Candlesticks Analysis from local millionaire author. Got screwed once and will not trust any "Gurus" anymore when there is REVENUE $$$$ involved!
DeleteRead? Get Rich Courses or Coaching? - II
One effective learning technique is summed up in the Chinese word for education -> 学问 (learn how to ask). Through asking, students are forced to think.
DeleteBad "guru" teachers will expose themselves when students ask the right questions.
When confronted with pointed questions, the more decent "gurus" will honestly admit their inadequacies.
Snake-oil "gurus" will brush off the questions with non-answers like "you lack the millionaire mind-set". Clever snake-oil answer. Chase away the non-profitable doubting students and at the same time, stroke ego of students who remain behind as people with millionaire mind-set. Those who remain will stop asking uncomfortable questions because they don't want to be seen as people who lack the millionaire mind-set.
CW,
DeleteThe disciples of this Taiwanese Buddhist sect I interacted many years ago so "innocent". They wanted to raise funds, so they tell me that's why they are giving "FREE" meditation courses to the public.
They too coy. Hope the public will tithe after the "FREE" courses. Like that until when???
I felt like "coaching" them to "steal with pride" from Prosperity Churches - that's how you rake in the $$$!
The MLM business model came from religion ;)
That's why most fake guru investment/trading courses do the "pumping" like religion - its just empty calories. Once the sugar high is over, we are back to square one...
I suspect some go to these investment/trading courses like we go to religious gatherings:
We are lonely...
We have lots of holes-in-the heart...
Just want to hear we are "accepted". We are a "community". We belong... (Hence the group sharing and gathering after the course trick)
Day job not working well... Relationship problems... Hey! If I had money, all my problems will go away! Reaching for straws...
Its all taking advantage of people's emotions when they are most vulnerable.
Kaching!
hyom,
DeleteThat's why I "throw brick to attract jade" at this watering hole.
And why I gently "nudge" those "yalor, yalor" and "I'm your no.1 fan" commenters out...
I need to grow too!
How to grow when everyone agrees with me???
I know I'll become stronger when I can spar with those smarter, wiser, stronger, faster, and richer than me ;)
That's the power of the "poke".
LOL!
ESBI
ReplyDeleteMost of us cannot be Business owner. No problem! We can stay in ES and slowly progress in I to FI or FIRE! Come and join FI and FIRE movement in ESBI.
CW,
DeleteThe funny thing is most people automatically rule out they can be Business Owners.
But 100% believe anyone and everyone can be successful as Investor???
Then again, from the increased number of people voluntarily contributing to CPF in recent years, I guess more CPF members have found out - if the more they invest, the more they lose - maybe SAVE MORE is the way to go!
They have crossed out the B and I quadrants.
Of course cannot FIRE at age 35, but hey!
Being a millionaire at age 65 is not so bad too ;)
Smol,
ReplyDeleteNo surprise that most rule out biz ownership.
1% chance to get $10m by 35 = 0.01 X 10,000,000 = 100,000.
As compared to employee ... 50% chance to accumulate $1m by 60 = 0.5 X 1,000,000 = 500,000.
And for today's cohort, it's probably much greater than 50% odds. ;)
Millennials & Gen Z have channelled their remaining entrepreneurial risk taking into cryptos. 🤣
It's an asymmetrical bet to moon 8 digits and more ... hopefully. Lol.
Spur,
DeleteIts a tale of 2 cities.
There will be youths that are able to achieve fat FIRE at age 35.
Glad they have SOLD into the crypto bubble before it burst like Nasdaq 2000.
Then they will be youths who will give themselves a pat in the back for not joining the gravy train.
Their money is "safe" inside CPF through voluntary contributions, while they see their peers getting wiped out...
Its all good provided we discover who we are early, and match the poison accordingly.
The "ugly" goose may want to stop following the ducks. You not them; they not you.
Penguins maybe can give dreaming about flying in the air a rest. No amount of goal setting and "If I think I can, I can" will help...
Smol,
ReplyDeleteLet me give me 2 cents worth about asking and learning by Hyom, and religious fund raising.
I guess there is always a point of overkill
I remembered going to 2 very well known temples, one ask for donations to get "protection" and another to get "holy water"
True to be told, it really left a bad taste in my mouth. Sigh... It just feel different, it is ok to be asked to give donations in exchange of blessing, but going to the extend of ... ... Nevermind, I shall stop here. I do understand we need finds to 传教，不过传教传到这样还有什么意义，不是装神弄鬼吗。
Next about asking. It's better to know where is the right place to learn.
Sometimes, the workplace is not a right place to learn. U know it when u ask why? And explain your concerns, and u realised that u made a mistake.
Workplace is not a place to learn thro asking, but learning thro surviving.
U can change the workplace, thou. But u have to be confident of finding another well paid place.
Sillyinvestor,
Delete1. Its no fun when we can see the Emperor is not wearing any clothes...
Perhaps that's why the more I study about religions, the more I became atheist? LOL!
2. Definitely agree with you when it comes to "learning" in the workplace!
Workplace is where we PERFORM. Its the battlefield. The stage. The arena.
Its trading/investing LIVE in the markets!!!
No. If we are hired and paid a craftsman wage, we should already perform at the craftsman level.
Only when we are paid an apprentice wage can we say we are "learning" on the job.