The Sole Predictor of Your
Financial Future
Kevin Hogan
Page 3
If you work for yourself, you are (or soon will be) worth, on average, 6 TIMES what someone who
works for someone else is worth. WOW! 1.4 million dollars....
Self employed net worth on average, 1.4 MILLION dollars.
Work for someone else net worth... 268,000.
Self employed... but it sounds so "iffy" on an application.
There's nothing iffy about it.
Self employed ==> Wealth
It is the SINGLE BIGGEST FACTOR by far. NOTHING comes close.
Every person who works for someone else should seriously consider
having a small business on the side. Internet, brick and mortar,
something where you determine your own income.
There is nothing wrong with having a "job." It's fine. BUT there is a LOT WRONG
with believing that the average person can live 15 years on 268,000 dollars when
these numbers are DECREASING. Even if they weren't decreasing....I guess,
268K saved is about 10 years living in a tiny apartment, 5 years in a modest home with some degree of comfort.
Looking at the big picture, the median net worth of a
family in America is a skimpy $93,000. Half the families in the USA
are worth less than $93,000.
One bad thing goes wrong and the family is done, usually for life.
It's very scary.
The median net worth of the top 10% in the USA raised to $924,100.
(assets minus debt). BUT the bottom 20% in net worth in the USA
dropped by more than 10% to $7,500. The poorest people are not saving
anything. They are building no equity and accumulating junk debt
(toys) instead of quality debt (things that can go up in value like real
estate, education, career related expenses, or a small at home business).
The Illusion of Balance
The ongoing problem is simple:
People are self-sabotaging their lives.
Someone once told me and hundreds have told me that they wanted to be "successful" and live a "balanced life."
I asked what a balanced life was. (I hate the "balanced life" metaphor for precisely what it means, does, forebodes and installs into human thinking and behavior.)
It came down to having time each day for their job, time for
entertainment, time for friends, family, leisure, and relaxation.
I asked if they liked their current job.
They did not...at all.
It's the kind of a life...that is obviously, not what you want.
The core problem is that there are very few "jobs" that provide
enough income to offset future financial hardship in someone's life.
In other words, when someone in the family gets disabled, divorced,
sick, dies, gets fired (downsized, sorry) everything exponentially
gets worse. All of these things devastate families and remove
"achievement" from any picture. Survival becomes the issue. Credit
becomes stretched and becomes extinguished.
Because someone had a leisurely non-work life, they didn't have
further education to prepare them for their next career; education
which is necessary in the 21st century.
They didn't start that coffee-table business.
One single event can cause a mess....Remember how much the divorce cost you, not only for the attorneys,
but what happened afterward when you had to live by yourself?!
(Hospital bills, rebuilding the house that burned down, etc.)
So in the present, the person/family lives a life of hating their
job then going home and vegging out. They go putter in the garden or go golfing or go to the club...
Then they have to leave their job or are forced out when the rainy
day hits. They can't get a new job that pays what the old one did.
The entire family suffers, and usually for years.
What was a seemingly OK trade-off (the job you hate for the leisure
time), the "balance" is actually a short term illusion. When the
disaster hits, no one is going to be home long with the child that
needs help because both parents (if there are both parents) will now
be working two jobs to replace the one better paying job they had.
The parents essentially can replace their income if they are still
together, but they will rarely see their children or watch a TV show
again.
It's the illusion of "balance."
How many people does this happen to?
And is it happening to YOU? 
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Kevin Hogan
Network 3000 Publishing
3432 Denmark #108
Eagan, MN 55123
(612) 616-0732
