From a young age, we are programmed to follow a certain path in life. For many of us, that means go to college, get a degree, and go to work for a large organization that will provide security and stability. Most of us – myself included – fall in line with this path because it seems to make sense. Security and stability can be very appealing.
But that desire for security and stability often spills out into other areas of our life and before we know it, we are supporting large companies as well as working for them.
We are handing over our hard-earned money; our investments, our retirement – our future! And assuming they care about it as much as we do.
They are after all, considered safe to do business with. Not to mention all the lovely conveniences they bring along with them.
Let’s dissect this a little bit:
According to economist Alex Tabarrok, 51 percent of U.S. workers work for a firm or corporation employing at least 500 people. However, while about half of people work for a large corporation, the majority of corporations are not large. In fact, according to the Census Bureau, 99.7 percent of firms have fewer than 500 employees. Looking at the data even further, 98.2 percent of firms have less than 100 workers!
So how is it that the majority of companies are small, yet the majority of people work for (and do business with) companies that are large?
In the beginning of your adult life, you don’t typically have a choice. The large companies are usually the only ones with the funds and capacity for risk to hire, train, and compensate you. That’s how it starts. And from then on, you are sucked into the world of big business. You work, shop, and eat at big businesses.
But guess what? One of the greatest things about being an adult is this crazy concept called free will.
You no longer have mom and dad telling you what to do. Sure, societal norms and family pressures may still exist, but ultimately you get to choose how to live your own life.
Do you want to know what separates the top one percent of earners from the rest of the population? The choices they make. They don’t chase security or get tempted by the supposedly safer choice. They are not fooled by mainstream thought processes that are often blindly accepted as logic. The decisions they make regarding their money and where it goes are intentional. They pay attention to who they are supporting in the long run.
The top earners in this country take the risks that scare the rest of us and do the things most would consider illogical. They continuously invest in themselves, not just trusting – but knowing – it will pay dividends in the future. They don’t buy into the fear-based, scarcity mentality that holds back so many from elevating themselves.
One of the biggest mistakes people make is basing decisions off how much something costs. Makes sense, as it falls perfectly in line with the “logic” that is forced upon us at an early age. The logic that says saving money now is the key to having more in the future.
So, we constantly seek out the best deal and fall for everything that is presented to us as “free.” But free now usually comes with a hefty price tag later. This is not how the top one percent thinks. Where the average person says, “I can’t afford that,” they say, “I’m worth it,” or, “This business is worth it.” And not just because they can afford to now; it’s that mentality that got them to where they are today.
The point is this – if you truly want to grow your wealth, you need to think outside the box of mainstream logic, see the value in investing in the future, and be willing to pay a little extra to have your dollars align with your values.
It’s about flipping the script on what you were told growing up and realizing your future wealth is dependent on how much you spend now, not save. It’s understanding that the cost of investing in yourself and the future you want is nothing compared to the price you will pay down the road if you don’t.
Happy Slacking,
Josh Krafchick
