Can you get rich working 9 5?

Yes, you can get rich working a 9–5 job. It just won't happen quickly, which is perfectly fine, especially if you like your job. You don't need to start a business to build wealth if you set up a simple saving system and stick to it for the long run.

themakingofamillionaire.com - Can You Get Rich Working a 9–5 job? | by Ben Le Fort

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Can You Get Rich Working a 9–5 job?

Reviewing the two types of assets you can use to build wealth

Yes, you can get rich working a 9–5 job.

It just won’t happen quickly, which is perfectly fine, especially if you like your job. You don’t need to start a business to build wealth if you set up a simple saving system and stick to it for the long run. First, we need to start with a common definition of what it means to be “rich.” It doesn’t matter how much money you have saved, what matters is how much money you have saved relative to your lifestyle. $1 million could be enough to sustain someone who spends $40,000 a year for a lifetime, but it wouldn’t last long for someone who spends $400,000 per year. For our purposes, I’ll define getting rich as having a lot of money relative to the cost of your desired lifestyle.

There are two types of assets you can use to build wealth.

Human capital: Your ability to earn income from working. Financial capital: Stocks, bonds, real estate, and other investments. Unless you’re receiving an inheritance, there is only one way to acquire financial capital and build wealth: Rent out your human capital and use the surplus cash flow to buy financial capital. Remember that working a 9–5 job means you are renting your human capital; your employer rents your time; they don’t own it. The “rent” you receive from your financial capital is your paycheck, and the surplus cash flow is what is leftover at the end of the month after all of your expenses are paid for. How much money you have to invest each month boils down to a simple equation.

Monthly income — expenses = investible money.

As I’ve written in the past, if you want to get rich while working a 9–5 job, you need to get your spending in order before worrying about investing. Doing so will help you in two ways: Keeping your spending under control drastically reduces how much money you would need to save to get “rich” using the definition we just agreed upon. It will allow you to immediately start saving more money each month which helps you reach your (now smaller) savings goal faster. If you’re serious about cutting your expenses, here are two articles that can help:

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