A monthly salary is the best start on the road to financial stability. They say that you cannot get rich, working “for someone else’s uncle.” But full of risk and adventurous life of an entrepreneur is the right way to millions. But what if it is more convenient and comfortable for you to work under the boss who will pay for health insurance?
According to research, if you go to do business, you will have to earn 35% more than your current salary. But for those who have a family, leaving the familiar place in the company is a risk, even if in the future such a step can justify itself. If you plan on becoming a millionaire without giving up quiet work for someone else, here are some suitable ways.
Become a partner
Partnerships are not only common in law firms. Take a closer look at a small business or startup where you can one day become a business partner. Although many entrepreneurs prefer to form a partnership or sole proprietorship from the very beginning, the founder of a small business can definitely change his views in the process of company growth.
Take stock options
The possibility of buying stocks is usually discussed at the interview. Find a company offering stock options, even if the salary is a little lower here. This is a very popular scheme in the startup world of Silicon Valley. Before signing a contract, talented candidates want to know how long it takes to become shareholders.
But it is also important to understand the harsh reality: stock options rarely turn into mountains of gold. Consider buying a company’s stock as an investment along with investing in the stock or real estate markets.
People with an entrepreneurial mindset are able to find business ideas and competently invest in their finances. They keep their ears open and monitor the performance of various stocks and industries — in the same way, football fans track the score and odds of their favorite team.
If you are completely unfamiliar with the stock market, you will have to spend time looking for a financial expert who can guide you and suggest an investment strategy. When you have additional income, you can try to invest in real estate or rental property — so you can raise your monthly income even higher.
The less you spend, the more funds will remain in your bank account. You will not be able to save money along with exorbitant expenses. The whole theory of “the millionaire next door “ is that many rich people spend far less than they earn.
Take over the business
In the end, the business owner will retire or switch to other projects. This may be your chance. If the owner of the company where you work is still young — do not despair, perhaps one day he will want to move away from this business for the sake of other undertakings. Express yourself at work, show your interest and work ethic — all these things are necessary for doing business in the absence of the current owner. If you are trusted, then you will probably have more and more responsibility over the years. And if you do not want to conduct business in the industry where you are currently working, maybe, you should think about changing the type of activity.