We judge others by the way they make their money.
How did they make their money? It’s a fair question to ask.
Money I don’t respect
I once interviewed a woman millionaire, she became a millionaire from stock options in Microsoft. She worked in human resources, she didn’t have a particularly special talent, nor took any out of the ordinary risk, yet she became a millionaire because she was one of the earliest employees of Microsoft and she was given stock options. Now she is telling rich people how they should spend their money.
Yes, but the way you earned your money doesn’t qualify you to tell other people how to spend their money because you really didn’t earn it. You made your money by chance, you got a job at one of the most successful software companies, and management just gave you stock options on nothing else buy seniority. I am happy for you, but I don’t feel inspired.
How you earn your money is important to me
We tend to value people, no only by the money they have but also by the way they earned it.
In my mind, the people who deserve the least amount of respect for how they earned their money are lottery winners. The second-lowest is money earned through crime. No matter how much wealth they display, they seldom are respected or admired by society.
I tend not to admire people who inherited their money or housewife who are still housewives long after their kids have left the nest. I am happy for their good fortune, but I will save my admiration for those who earned it.
The people who I admire the most, are entrepreneurs who didn’t have any special talent, nor education, but through determination and unwillingness to let their circumstances dictate their lives, managed to rise above their circumstances, put a life together, and thrive.
My favorite example, although there are many, is JeVon McCormick, who was the son of a pimp and drug dealer, and was raised mostly by prostitutes and heroin addicts. He decided at a young age that he wanted to make something out of himself and he became the successful CEO of two different companies. I respect his drive and his money.
How does a company make its money
As I think about how different individuals make their money, I can’t help but think about how companies make their money.
- I have no respect for companies like Philip Morris International, which make its money by selling cancer to their customers.
- I have no respect for companies who produce weapons, ultimately, their products are designed to murder another human being.
- I have no respect for diamond miners who destroy the environment and mistreat workers just so that a woman can wear a diamond ring on her hand.
Which business do I respect?
I do have great respect for the hundreds of small businesses that make our society function. The coffee shops, the convenience stores, the manufacturer or this or the other thing, the service provider who keep our society running smoothly.
How did I make my money?
How did I make my money? I made most of my money by owning and managing a dance school. Owning and managing short-term rental properties and renting them to tourists, and through investing in the stock market. I had many sides hustles to help me pay the bills, but I am proud of how I made my money.
I came as an immigrant 22 years ago, I worked as a janitor while going to school, and twenty years later, I am the owner of my life. I stay home recording podcasts, writing articles, and keeping a close eye on the stock market.
How did you make your money?
Please share your thoughts in the comments section.
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