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In this day and age, it is becoming increasingly difficult to find and keep a decent paying job. And for most of us, without this steady income stream, gaining financial freedom would become further from our reach.
It is not surprising that the top 1 percent did not become wealthy by directly trading their time for money. Some of them may have done it at an early point in their lives, but they certainly did not continue that approach to get to where they are today.
One of the keys to financial freedom is to create and maintain multiple income streams. However, most income streams usually require you to invest some money upfront. It then takes time to build those income streams and even more time for them to grow and mature before one can truly reap the benefits.
The challenge that most people have is they only have so much available funds from their paychecks, so they can only do so much with what they have available. They might be able to save enough money to invest in several high dividend stocks or perhaps even a rental property. However, since they will not be able to get a full return on those investments immediately, they need to save up even more money before they can look to invest or create another income stream.
So Then What?
Entrepreneurship might just be the answer.
Rather than putting your blood, sweat, and tears into making someone else richer, you can put that effort towards yourself and building your own wealth.
Starting your own business would likely require you to invest some money upfront and it will definitely take time for your business to build and mature before you would be able to reap the benefits. However, your earning potential would be significantly higher than what you would be able to make from a job.
Being an entrepreneur also means you get to decide the direction you want your business to go in. It can lead to more contacts, which can lead to more opportunities, which can then lead to additional income streams.
All it takes is an idea, some money, tons of hard work, lots of dedication, and maybe a little luck.
Is entrepreneurship the route that you are looking to go on? I know it is for me.