Rule 34: Real Wealth Comes From Deals Not Fees

I’m not saying that it’s impossible to become wealthy working for someone else, because it certainly is possible (see Rule 35). In a large part, that really depends on how you define wealth. Maybe you have no desire to compete with Jeff Bezos or Elon Musk when it comes to wealth. Perhaps your version of wealth is a mortgage-free house, going on vacation a couple of times a year, and an emergency fund/nest egg to leave your children. If this is the case, selling your labor could make you wealthy if the service you provide is sought after.

This is true of certain professions. Lawyers and doctors have extremely comfortable lives that many of us would aspire to. But unless they’ve either inherited their money, none of them are ultra wealthy.

To make money you have to make deals. Buy and sell. We’ll talk more about deal-making in Rule 57…because that’s the only way to make millions. Look at the wealthiest people in the world, they’re all selling stuff.

Now hang on, don’t give up your day job just yet. I’m not saying you can’t work for someone else, at least for now. In fact, I became a millionaire working my regular job just like you. But recognize that if your ambition is to make a fortune, you’re going to have to leave the job eventually and strike out.