While the jobs picture will still remain a bit tough for those looking for jobs, companies will continue their steady hiring in 2014. By leveraging social media and your “intrepreneur” skills to showcase your work to your bosses you can get ahead. Read more >>
It may not seem so romantic becoming a millionaire while working a regular job.
But it is the best option available to most people. You don’t need to start your own business to earn a high income, and you don’t really need a high income if your saving, spending and investing habits are sound. Asking for a raise, upgrading your skills or taking a second job will add that much more to your savings and investments and subtract that same amount from the countdown to your first million. If you are entrepreneurial at heart, starting a business on the side can actually decrease your overall tax bill, rather than putting you in a higher income tax bracket.
Look for ways you can increase your disposable income.
Getting a salary increase or job promotion
There is no shortage of books and articles that give advice about getting more money out of your employer. They provide counsel on everything from dressing well to taking a pay cut in exchange for performance bonuses. One of the most highly touted techniques is to go for further training or education. This can cost you money now, but it will hopefully translate into higher wages and a more secure position in the company regardless of how you go about it, getting a raise is the most obvious way to increase your income.
Begin your own business
Starting a business paves the way to wealth for many people. A salary can be viewed as guaranteeing a specific annual income. But if you work for yourself your rewards become more directly linked to your efforts and abilities–which is ideal if you’re ambitious and talented.
Self-employed people make up less than 20 percent of the workers in America but account for two-thirds of the millionaires. Also, three out of four [millionaires] who are self-employed consider [themselves] to be entrepreneurs. Most of the others are self-employed professionals, such as doctors and accountants
Starting a business, even a small one, is a legitimate way to bolster your income. Much like a pay increase or promotion, running a business will put more demands on your time and require more effort. The difference is that you will see more of the income from your labor because taxation for business owners is a small pinch when compared to the slap that the IRS gives to employees. Some of your business write-offs can even be claimed against other income sources.)
Develop good high quality relationships in your social and personal life.
Having friends with similar interests will compliment your lifestyle, motivate your further and provide for interesting new ideas to achieve your goals sooner.
A strong, healthy relationship can be one of the best supports in your life. Good relationships improve all aspects of your life, strengthening your health, your mind and your connections with others.
Make a plan and identify your goal
Stop wasteful spending
Acquire a good education
Find quality employment
Savings and investments
Buy your first home
Buy adequate insurance
How to get a new job in 2014
While the jobs picture will still remain a bit tough for those looking for jobs, companies will continue their steady hiring in 2014. By leveraging social media and your “intrepreneur” skills to showcase your work to your bosses you can get ahead.
How to Earn an Extra $1 Million Over Your Career
Don’t be afraid to ask for a raise. In fact, for the sake of your career and your health, you should be asking for one at least once every three years. MarketWatch’s Jim Jelter explains. (Photo: Getty)
Creating Skilled Workers
By Mac William Bishop November 30th, 2013
Manufacturers say there is a critical shortage of trained workers in the United States. In South Carolina, a German company is training students in skilled labor through apprenticeships.
How to get a new job in 2014