Employment in USA is meant to make a living, at least a decent one, but if you find yourself working under someone, chances of becoming rich are minimal.
Take for instance, you are employed, where your hourly pay is $25.In a single day you will make around $300, translating to $9000 per month. After tax and expenses, you remain with $3, 000, which you are required to save and spend for luxuries.
Assuming you save $2,000 per month, it means in a year you will save approximately $24, 000, which is not enough to call you a wealthy individual.
Now, from the savings analysis above, you will notice that in 5 years you would have saved a total $120,000.
For you to be a millionaire in America, if your salary is $ 25 per hour, with excellent financial management discipline and great saving power, you need at least 40 years of strict saving. This 40 years means that you have not suffered from any chronic disease which would demand that you spend more cash to heal yourself, this 40 years means you don’t have any other obligations like building your home or paying your college fees.
Take for instance an individual who earns $200,000 per year. This is one of the highest paid professionals in America, and they are found in few disciplines, like Medicine, Actuarial Science, Finance, Law and Engineering. This person needs at least 10 years of saving consistently for him to achieve a millionaire status.
These examples indeed proves that it’s almost impossible to be a millionaire in USA if you depend on your salary. Which demands for an alternative.
The best thing to do is to think outside the box, and this means you become an entrepreneur.
When we talk about entrepreneurship, we simply means a business that will supplement your income. In the modern world, the best and most ideal business to start in USA is online business. Of course I know giant companies like Amazon and Bluehost, Google, Facebook and many others will not allow you to beat them but you employ entrepreneur metal spirit, you will make it.
