Working for free

Money that comes from compensated labor is the highest taxed of all incomes. That is why I often jump when I meet bright young people in school who are excited about soon getting a high paying job. A young person with that mindset or that reality is a person who winds up working harder and harder for 50 percent moony. The reason hardworking employees get passed by financially later in life is because they worked hard for ornery income. They worked hard for pay raises and bonuses.

Earing more ordinary income than rich, rich eventually passed and surpassed poor earing potential. You will invest time regardless if you work for ordinary, portfolio or passive income.

People in the employee have the least control over their taxes and pay the most in taxes even after they retire. If your income today comes from the employee quadrants, the small business has a few more advantages over the employee quadrant, the man one being the ability to deduct some expenses from your gross income prior to being taxed.

If you are serious about retiring young and retiring rich, you may want to consider working for free. The moment you ask yourself the question, how can I become rich by working for free? You begin to push your mind into another reality. If nothing comes to your mind on how you can get rich by working for free, keep pushing your reality or begin investing some time and education into studying the lives of people who become rich in the business and investment.

Many of the very rich became rich in their spare time. So, if you have a job because you have financial responsibilities, keep your job but make better use of your spare time. When your friends play golf or go fishing or watch sports on TV, you can be starting your part time business. Hewlett- Packed was started in garage as was Ford Motor Company. Keep in mind that today you can go groom poor to rich faster than ever before. Michael Dell want from college kid to billionaire in three years. While his classmates were doing their homework or drinking beer at pries, he was building a billion dollar business in his dormitory room. Most of his classmates now in their thirties, are working hard for 50 percent money. Many are now going back to school in hopes of getting a promotion and raise and are still drinking beer and watching sports on TV.

If you want to retire, you will need passive and portfolio income, in most cases. The sooner you learn to acquire passive and portfolio income, the sooner you are on your way to retiring young and retiring rich. Not only will you be able to retire earlier but you may also feel more financially secure. You may also feel smarter since you will be earning 20 percent or even tax deferred income rather than 50 percent income which is the type of income most people are working so hard for.