I have a good friend who won’t become wealthy. He says he’d like more money in his life, but here is how our conversations go:
Me: “You know that if you invested in real estate you would have paid off properties in ten or twenty years. Then you could quit that job you hate and go fishing.”
Friend: “No way do I want to own a rental house or a couple of apartments. I don’t want to deal with tenants, repairs or collecting rent. That’s not for me.”
Me: “Did you ever think about getting a part-time job ? You could invest the extra income in some mutual funds and let them accumulate. After awhile your stocks could give you enough dividends so you wouldn’t need to commute to that job every morning.”
Friend: “No way could I work a part-time job. I need time to relax and enjoy that new big screen television I bought for the kids. Plus, I’m so burned out at the end of the day from my regular job that I can barely make it to my recliner.”
“And part-time jobs don’t pay as much as my full-time job. Why should I work for less? And the stock market might go down and I’d lose money. Pus I can’t wait years to retire. I want to retire right now.”
Me: “Did you ever think of going to night school? You could get the training to get a big advancement and pay raise in your regular job. Then you’d have extra money to invest to start creating your wealth nest egg.”
Friend: “Night school? Are you kidding? Once I finished high school I told myself I’d never have to study or learn again. I can’t stand classrooms.”
Me: “Why not start a small part-time business? You could gradually grow the business to become a full-time profession or at least you could take the part-time earnings and invest them for your retirement. Ever think about that?”
Friend: “No. That’s too risky. What if I couldn’t get any customers or someone didn’t pay me? Then I’d have to work for nothing just to get it started. I want to be paid for every hour I work. I deserve it. Plus, I don’t want to be tied down to a lease or employee problems. That’s all too much stress and bother.”
And so the conversation goes.
No matter what is suggested, my friend has a reason why it won’t work for him. Nothing will work for this kind of person — not even a business where all you have to do is watch cable television all day. This type of person would say that all that television watching would be too hard on the eyes.
This type of excuse-driven person will never be wealthy. Sure, he might say he wants to be wealthy, but only if becoming wealthy was a worry-free, guaranteed proposition that required no work, no effort, no risk, no input or no investment on his part.
Good luck finding that kind of deal in today’s world.
This post is not for my friend, or people like my friend.
This post is for doers — people who want to become wealthy and are willing to do something about it.