The Key to Financial Success – Business Ownership |
Every
year the Internal Revenue Service issues a report that shares data on
the top 400 taxpayers. This report focuses on those returns with the
largest Adjusted Gross Income. In 2014, you needed $126.8 million to
make it on their list. Here’s how the top 400 made their money:
Most
of the capital gains were the result of selling all or part of some
business interest owned by the taxpayers. When you combine the last
three categories, this equals 92.29%. This 92.29% is income derived from
business ownership. Owning an interest in a business, either as a
stockholder, partner or sole proprietor, was the key to accumulating
most of their wealth.
The
odds of getting rich are stacked against those who derive their income
from wages, since only 4.47% of the wealth of those in the report,
became rich from their wages.
If
you want to get rich, you must do what wealthy people do. They invest
in businesses or create their own business. Since 80% or more of the
wealthy come from poverty or the middle-class, this means you must
either save enough money to invest in some business or you must create
something on the side, some side business.
If
you’re a great saver and want to become rich, you must take a risk with
your savings by investing it in some business that will generate
dividends, profits or capital gains upon the sale of your investment.
If
you’re not a great saver, this means you must take a risk and invest
your time and whatever money you do have in some business that will
generate dividends, profits or capital gains upon it’s sale.
Either way, you must take risk in order to become rich and that risk typically involves some business investment.
By Tom Corley
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