Nowadays, the idea of becoming wealthy is tied to entrepreneurship.
In order to make a lot of green papers, you should start something on your own, be your
own boss, kick-off that brilliant idea that would eventually make you a 7 figure earner.
It's true that being your own boss will give you more control over your career or earnings,
you won't be tied to a specific job that would force you to live under certain circumstances.
And its also true that the world's wealthiest people today became who they are by starting
their own independent ventures.
That's definitely one way to attain wealth, but if you look at the facts, we live in the
best of times where you can achieve an enormous amount of wealth by being just an employee
with a regular job.
Of course, this path isn't easy and filled with obstacles and challenges as well; however,
despite the odds, millions of people have taken this path and made it.
So theoretically, you can, too, assuming that you are going to put the required amount of
effort and time into this.
With the rise of globalization, the world has never been so competitive.
Companies from every angle of the world are waging financial wars against each other to
gain market share and maximize profits.
Still, to do that, they need the best of minds, that's why if you are just an employee, theoretically,
you have all the chances to earn 7 figures.
Cybersecurity
Especially when it comes to tech companies.
Technology has never been growing as fast as it has been recently.
10 years ago you probably had a phone with buttons, now its all screen and you can't
live without it because it became a crucial part of your daily life.
Almost everything you search, watch, and do is one way or another related to it, and that's
what makes it risky as well.
You are always vulnerable to hackers, which worries the tech giants who are providing
these services.
No one wants to gamble with its reputation, so the amount of money that's spent on cybersecurity
is significant.
According to IBM, a single data breach can cost a company up to 3.3 million dollars,
and that's a 12 percent increase since 2014, which means that companies such as Facebook,
Apple, Netflix, or banks, in general, would spend more and more on cybersecurity.
This means Jobs in this field begin to pay enormous amounts.
Cybersecurity engineers, for example, earn around 200 thousand dollars.
But they are not alone, information security managers, cybersecurity analysts, all make
something approximately 200 thousand dollars or slightly lower on average.
The best part of it is that you don't need a degree or any kind of formal education,
although it could really help.
What matters is only your knowledge and experience in understanding technology and these systems.
A tech conglomerate like Apple pays up to 1.5 million dollars to those who can hack
an iPhone or mac.
You can make over a million-dollar just by hacking your friend's iPhone.
ANd apple isn't the only company that's ready to compensate you if you hack them.
Facebook, Amazon, and other tech giant have a similar policy.
So, in this age of technological revolution, hackers are very well rewarded.
2.
Traditional Jobs, Doctors, Lowers and Engineers
It's not a surprise that doctors are paid enormously.
Regardless of where you are in the world, doctors are always paid well enough, and in
the United States, they are almost always millionaires.
Take an example of Anesthesiologists.
According to National Occupational Employment and Wage Estimates at the end of March 2019.
Anesthesiologists, on average, earn around 267,020 dollars, which puts them on the top
of the list of highest-earning professions in the US or even in the world.
That's the average image of how much the top professionals are making.
But they aren't alone in that category, surgeons, physicians, Gynecologists all earn more than
200K dollars per year.
It's not easy to become a doctor.
Medical school is challenging and often requires full dedication.
And even when you graduate, you still have years to practice before you become a fully
capable doctor.
Regardless of its complexity, there is a clear path to becoming one.
You don't have to invent anything or to be super creative.
The way is made clear before you, all you have to do is to follow it strictly.
In comparison, as an entrepreneur, there isn't a clear path; everything looks blur, you have
to figure everything on the way, and even if you come up with a perfect plan, there
are still plenty of things that could easily ruin everything.
Even if you work as hard as a medical student, chances that you will fail are way higher
than a medical student.
So, from the perspective of risk, taking the first path is much more secure and safe.
And the same applies to Lowers and engineers.
Of course, as a beginner, you will be filled with lots of paperwork and a salary that would
hardly pay the bills, but as you grow in ranks, that paycheck keeps getting bigger.
An average lawyer earns around 10 thousand dollars per month or a 120K dollar a year.
But that number can quickly explode if you take advantage of the opportunities in the
market.
Companies might claim that they are all working for the common good, but in reality, behind
closed doors, there battles in the quarts over patents, trademarks.
And a lot of other things where the most talented and hard-working lawyers are paid millions
to win cases before the judge.
A million-dollar is nothing because the company can end up paying hundreds of millions if
not billions if it loses a case.
3. sales
But doctors aren't the only ones who are paid enormously.
The next profession can make you a millionaire even faster.
Even if you don't have a college degree or any experience.
In the world of capitalism, this profession is the mother of all other occupations.
Sales!
Of course, it will highly depend on what exactly you will be selling.
Working at your local grocery store might not earn you a lot, but selling luxury cars,
for example, might very well give an opportunity to make a considerable back.
If you have watched the wolf of wall street, you know what I am talking about.
Jordan Belford, who was the main character, built an entire company selling penny stocks,
stocks of companies that often don't even exist.
You can even call them trash stocks.
Just a disclaimer, I am not saying you should be scumming people and selling crap.
That's not the point.
But often as a salesman, you are offered a commission on the top of your salary.
So, you can earn as much as you want.
You don't even need any kind of qualification.
It all depends on your ability to sell.
Some people are naturally good at dealing with people.
They quickly build trust with strangers, which makes the entire process of selling a lot
easier.
Of course, most people aren't born with such talents, but if you still insist on taking
this path, their lots of great books that can teach every skill you need.
Humans are predictable; once you understand human psychology, it gets much more comfortable
to convince them to buy something, even if that's something they don't need.
Take a look at all the things you have, how many of those things you really need, not
many, your closet is filled with clothes you never wear.
And Sales commissions could go as high as 50 percent.
So, even if you can't afford a college degree, you have all the chances by taking this path.
4.
Marketing
With the rise of the internet, the advertising industry became ever more sophisticated; the
entire internet grew by relying on ads.
This powerful platform depends on ads to survive and thrive.
Because everyone heavily relies on the internet for basic day to day needs, companies spend
billions to track our habits to be able to create more accurate ads.
In 2019, more than 100 billion dollars were spent on social media ads.
And this number will only increase year after year.
A lot of companies getting into social media but don't really understand how to use it
wisely, that's why lots of companies emerged out of nowhere just to help these companies
to spend their money wisely on social media.
And the greatest part about it is that you don't need any degree or what so ever.
Its something you can learn on your own and build your way up from there.
5. real estate
Real estate is probably the best traditional investment in the world.
This industry will always be relevant; at the end of the day, people need a roof over
their heads, regardless of whether the economy is down or up.
This industry is worth trillions of dollars, and as the world population keeps growing,
and more and more people are moving to cities, the trend for this industry seems only to
be upwards.
And if you are an extrovert who knows how to convince people, you can make a fortune.
Real estate agents mostly make money from commissions.
There is no limit to how much you can earn, the more you can sell, the more goes into
your pocket.
5 percent might not seem much when you sell a house for 300 hundred thousand dollars;
5 percent does make sense = 18K USD.
Of course, you aren't going to take all that money home because you have to split it with
your broker and buyers broker, but you will still end up with a few thousand dollars.
It might be super difficult to get your first deal; however, once you build up your reputation
and create lots of connections, You no longer have to hustle day and night.
Opportunities will just be coming to you.
Conclusion
These professionals pay a lot of money, but keep in mind that as you keep earning more
and more, your tax percentage keeps increasing.
At the end of the day, 86 percent of government budgets come from individual income and payroll
taxes.
For instance, every penny you earn above 40,125 dollars is taxed at 22 percent.
While your first 9875 dollars aren't taxed at all.
As your income grows, the portion you have to share with Uncle Sam grows as well, and
At some point, it stops making sense when almost half of your income gets taxed.
Your incentive to earn more drops as well.
Currently, the tax rate peaks at 37 percent on everything you make above 518,401 dollars.
That's why the wealthiest people on earth take a different path to wealth, where tax
rates much lower.
But risks are higher.