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Profits are better than wages | Jim Rohn

My mentor, when I was 25 years old, dropped a phrase on me that changed my life forever when he said;

“Profits are better than wages.  Wages will make you a living, profits can make you a fortune.”

You know it is a bit difficult to get rich on wages, but anybody can get rich on profitsJim Rohn

Profits change your whole attitude, even if you start part-time.

Whether it’s part time on your entrepreneurial business, network marketing company or service business.

It can be a landscape business in the winter or hanging Christmas lights in the summer.

It can be training, consulting or tutoring.

It can be your hobby such as painting, writing, crafts, woodworking, computers or cooking.

But once you start investing even part time effort into your own business, you will find how much more exciting it is to get up in the morning and go to work on your fortune, even if you’re only spending a few hours a week doing it.

How empowering it is to be able to go to work on your fortune every day rather than going to work to pay the rent. Concept of money growing from coins

Now – it is noble to go to work to pay the rent, but if you could also parcel out part of your time – go to work to make your fortune.

Your whole attitude changes; your spirit changes.

It is in your voice.

It is in your face.

It is in your gestures.

And then you can say, “I am now working full-time on my job and part-time on my fortune because I found a way to make profits.”

Wow!

And I will know what you mean.



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Jim Rohn

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The late Jim Rohn was America's Foremost Business Philosopher. Subscribe to the free Jim Rohn Weekly E-zine. Also review the complete Jim Rohn archive of articles, vitamins for the mind and Q and A. Copyright © 1999 Jim Rohn International. All rights reserved worldwide.


'Profits are better than wages | Jim Rohn' have 3 comments

  1. July 10, 2016 @ 11:30 am Greg

    Same applies to property. That’s why negative gearing is a losers game. Positively geared properties generate cashflow on which you can live and reinvest to purchase more property.

    Reply

    • December 5, 2016 @ 12:54 pm Paul

      Hi Greg,
      It’s been my experience that positively geared properties tend to be properties that are located in regional areas or on the outskirts of cities and therefore those properties tend to have lower capital growth (there may be exceptions to that, but that’s what I have found). For that reason I have not invested in them. On the other hand, I have invested in negatively geared, well located investment property (within 8km of a major city centre) that had the advantage of much higher capital growth over the medium to long term. (e.g. purchased for 90k sold for 420k in 20 year time span = 8.01% annual growth).

      Reply

      • December 6, 2016 @ 1:45 am Rod

        Hi Paul,
        Not many can invest nowadays near Sydney CBD. Even in outskirt suburb of Riverstone NSW, block of land now starts from $450,000. In the last 2 or 3 years, house & land prices have gone up by at least $75,000 to about $120,000 (not sure of the exact price but a very big increase!). A new 4-bedroom house or even an old one now costs from $600,000 to $750,000 in this area. Houses in Riverstone, Schofields & Quakers Hill are cheaper compared to Kellyville, Bella Vista and Castle Hill. There is quite a very good capital growth of real estate properties even in outskirts suburbs of Sydney but it’s getting harder to invest. Would that mean buying house (negatively geared & if someone can service the loan) in Sydney outskirts suburbs a wise investment?

        Reply


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