Digging Somebody Else’s Ditch

Do you have a job? Is it well paid? Do you think it will make you rich?

Most people are never going to get rich, and there’s a good reason, which can be summed up as:
“You’ll Never Get Rich Digging Somebody Else’s Ditch”
So what does that mean?

Basically it means that if you work for somebody else, you will not get rich. Think about it. How much do you earn per hour, week, month or year? If you can give an answer to any of those, you’ll never get rich.
Let’s say that you earn $10 per hour. There are only 24 hours in a day, and you need to eat, sleep and have a life. Even if you managed to work 12 hours a day every day for a year (without any holiday), the maximum you could earn would be $10 x 12 x 365, which comes to a grand total of $43,800 in a year (before taxation). Not exactly an income that is going to make you rich. Also, working 12 hours a day with no holiday would have you run ragged.

You see the limiting factors are a fixed hourly rate and a fixed number of hours in a day. That’s why you will never become rich working for somebody else.
If your hourly rate was $20, you’d earn twice as much, but do you know what is likely to happen if that was the case? You’d own a bigger house (with a bigger mortgage), a bigger car, and a better lifestyle. Basically you will spend more money as your income increases, to improve your lifestyle, but you still won’t be rich.

There are two ways out of this trap. The first is to establish some kind of income that does not depend upon the number of hours that you work. The second is to increase the number of hours in a day. Of course that’s impossible, but you can increase the number of “man hours” in a day by paying other people to do the work. You become the employer, and THEY start digging YOUR ditch.

I don’t want to be stuck in a 9 to 5 job the rest of my life, without improving my situation. Now I know what I need to do to change my life, and I’m going to do something about it.

July 12, 2011 · Phil Rogers · No Comments
Tags: ,  · Posted in: Lifestyle

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