Rich people don’t get rich by getting a good job and asking for a promotion. Rich people get rich by creating or owning businesses and/or investing in the stock market.
In today’s economic world, money is a constant in our lives. It pays for our meals, our experiences, and the security of our loved ones. Yet, paradoxically, many people know very little about how money truly works.
Some dismiss money with statements like:
- “I’ll worry about money later.”
- “It’s better to be poor and happy than rich and miserable.”
- “Money is bad or evil.”
But ignoring how money works can have serious consequences. Without financial literacy, you may:
- Pay higher taxes than necessary.
- Fall into Debt Traps.
- Have inadequate Retirement Savings.
- Make poor Investment Decisions.
- Struggle to cover basic living expenses.
- Miss out on opportunities like family vacations or meaningful gifts.
- Be unable to afford quality healthcare for loved ones.
In our economic system, money talks. If you don’t learn the language of money, you’ll struggle to thrive.
Why Financial Education Is Key
The wealthiest individuals understand money at a deeper level. They don’t rely on climbing the corporate ladder or waiting for a raise to build wealth. Instead, they:
- Focus on owning income-generating assets, like stocks or businesses
- Play by the rules of the economic system to grow their wealth.
The truth is, working harder doesn’t necessarily lead to wealth. In fact, the wealthiest people focus on owning the corporate ladder, not climbing it.
The Two Biggest Wealth Generators
The most reliable paths to financial success are:
- Starting a Business – Entrepreneurs take control of their income by creating value and building companies.
- Investing in Stocks – Stocks represent ownership in wealth-generating machines, giving you a piece of the ladder without having to climb it.
Instead of just earning a paycheck, investing allows you to let your money work for you.
My Journey to Owning the Ladder
When I arrived in Canada, I started at the bottom, working as a janitor for $7 an hour. I could only invest $25 a month at the time, but I stayed consistent. Over time, those small investments grew, thanks to the power of compounding.
Today, as a stock investor, I own parts of about 1,000 companies—tiny but significant pieces of wealth-generating machines. My investments generate income, which means I don’t have to rely on a job to cover my basic needs. I work because it gives me purpose, not because it’s a financial necessity.
If I can do it, so can you. It starts with a commitment to learn how money works and to take action, no matter how small.
Own the Ladder, Change Your Life
To truly thrive, shift your focus from climbing the ladder to owning it. Start by:
- Educating yourself about personal finance and investments.
- Prioritizing the ownership of assets over the pursuit of higher salaries.
- Taking consistent steps, no matter how modest, toward building wealth.
In this economic system, understanding money is not just an advantage—it’s a necessity. The sooner you start owning the ladder, the closer you’ll get to financial freedom.
Take the First Step
Whether it’s starting a side hustle, investing in your first stock, or simply learning more about financial systems, every step counts. Remember, anyone can own the ladder. Start today!
Other personal finance blog posts
Leave a Reply