Get Rich Slick

The eighth most frequently excuse I’ve heard as to why they aren’t getting rich is that they weren’t born rich. There seems to be a great quantity of people who subscribe to various conspiracy theories that the world is conspiring against them from becoming rich and the only way to ever become rich is to have been born rich or marry into wealth. These people act like they are pawns in some sort of game.

This excuse is ludicrous when you consider that most millionaires today (about 80%) came from little or no wealth whatsoever. I must admit however, that growing up in one of the poorest part of the US, that I too had a chip on my shoulder about the disparity of wealth in the world. It wasn’t until I actually began my working career and started accumulating my own wealth that I realized few people really ever get a free ride.
I also realized that although it would have been easy for me to constantly complain and live with that chip on my shoulder, it really wouldn’t help me build wealth so I started a plan to build my own wealth and “conquer” the world my way (see below).

I occasionally run into old high school chums who continue to live with that chip on their shoulder and a week doesn’t go by when I don’t hear someone at the office carry that same chip on their shoulder. They see me sitting in the corner office looking out the window and wonder why I should be “entitled” to the money I earn and the lifestyle I have without ever considering what kind of history I had, how much I had to sacrifice or how hard it was to get there. For them, it is easier to assume that I was born rich and that’s how I got to that office and position than to consider that I actually climbed my way to the top.

As for how I’m conquering the world and building wealth, I’ve got a two-pronged approach. First prong of attack is to Get Rich Slow the regular way with cash savings, 401k contributions, Roth IRAs, CDs, and Real Estate. The second prong of attack is to Get Rich Quick with more aggressive strategies such as ETFCoveredCalls.Com, Currency & Option hedging, Credit Card Arbitrage, Real Estate flipping and commodity speculation. The net result is to Get Rich Slick.

I hope you’ll web-in next week for Excuse #7, “I didn’t have great parents” which neatly ties into this post.

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I’ve actually had many people tell me the reason they aren’t getting rich was because they didn’t have friends in high places to get the best paying positions.  Often, this thinking has been the result of executives or other senior managers hiring former colleagues to key positions.

While it certainly is true that executives tend to hire former colleagues, they primarily do so not because of friendships but because of being familiar and acquainted with a person’s ability, skills, knowledge and capabilities.   As an executive, I have had the option of hiring virtually anyone out there but my thinking process is usually the same and it boils down to a couple of choices:

1. I can take a chance on an unknown quantity (e.g. someone new that I don’t have a track record with)

2. Hire a known quantity.  The person I bring on board may not be perfect but at least I know what his/her key strengths, capabilities and weaknesses are for the job.  I mitigate my risk by compensating their weaknesses with my strengths.

Of course, over the past decade, I’ve had at least 30 positions that I’ve had to fill and I’ve only hired the same person twice for a key position.  Usually, when someone is good at their job, they can easily find a job and when someone is bad at their job, they are always asking for one.

At the end of the day however, ANYONE with determination, skills, knowledge and training can get to the position that they want if they really work toward that goal.  I wasn’t born an executive, I didn’t have key connections to getting higher paid positions; I simply worked my way up with hard work and determination.

Speaking of hard work & determination, it takes a great deal of time to post the best ETF Covered Call opportunities every week so I hope you’ll stop by and check them out at http://www.etfcoveredcalls.com.

Tune in next week for Excuse #8 of why you aren’t getting rich -  “I wasn’t born rich.“

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I’m starting a new 10 post series entitled, “Why You Aren’t Getting Rich” and it is a compilation of the top excuses I’ve heard from friends, family, co-workers, and people I’ve met over the years as to why they aren’t getting rich.

The #10 excuse I’ve heard over the past decade has been “I don’t have a college degree.”

While a college degree is important, it is not the primary requisite for becoming wealthy. I can name a few billionaires that didn’t graduate college such as Bill Gates (Microsoft), Michael Dell (Dell Computers), Larry Ellison (Oracle) off the top of my head.

These men did however have a high level of education in their areas of expertise. Bill Gates had a passion for software and computers so he learned everything he could about computers and programming to ultimately found Microsoft.

Michael Dell had a passion for hardware and started Dell Computer out of his garage building PCs for friends and businesses. He became highly self educated in the hardware design and development business.

It is clearly possible to achieve phenomenal wealth and success without a college degree so when I’ve counseled people over the years I’ve always encouraged them to pursue their passions first and acquire the skills, training, knowledge and education in that field as they pursue those passions.

I have many passions that have made me fairly successful in life and one of my passions right now is investing via Exchange Traded Funds & Covered Calls. To learn more about my passion that is making me Get Rich Slick, click on over to http://www.etfcoveredcall.com.

Tune in next week for Excuse #9 – You don’t have well connected friends to get a high paying job.

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