You must own equity to gain your financial freedom

Why is owning equity in a business important to becoming rich? It’s ownership versus wage work. If you are paid for renting out your time, even lawyers and doctors, you can make some money, but you’re not going to make the money that gives you financial freedom. You’re not going to have passive income where a business is earning for you while you are on vacation. [10] This is probably one of the most important points. People seem to think you can create wealth — make money through work. It’s probably not going to work. There are many reasons for that. Without ownership, your inputs are very closely tied to your outputs. In almost any salaried job, even one paying a lot per hour like a lawyer or a doctor, you’re still putting in the hours, and every hour you get paid. Without ownership, when you’re sleeping, you’re not earning. When you’re retired, you’re not earning. When you’re on vacation, you’re not earning. And you can’t earn nonlinearly. If you look at even doctors who get rich (like really rich), it’s because they open a business. They open a private practice. The private practice builds a brand, and the brand attracts people. Or they build some kind of a medical device, a procedure, or a process with an intellectual property. Essentially, you’re working for somebody else, and that person is taking on the risk and has the accountability, the intellectual property, and the brand. They’re not going to pay you enough. They’re going to pay you the bare minimum they have to, to get you to do their job. That can be a high bare minimum, but it’s still not going to be true wealth where you’re retired but still earning. [78] Owning equity in a company basically means you own the upside. When you own debt, you own guaranteed revenue streams and you own the downside. You want to own equity. If you don’t own equity in a business, your odds of making money are very slim. You have to work up to the point where you can own equity in a business. You could own equity as a smal

you want to build wealth and create financial freedom, you can’t just sell real estate; you need to invest in it personally.

To obtain financial freedom, one must be either a business owner, an investor, or both, generating passive income, particularly on a monthly basis.

Anyone who prefers owning a part of your company to being paid in cash reveals a preference for the long term and a commitment to increasing your company’s value in the future. Equity can’t create perfect incentives, but it’s the best way for a founder to keep everyone in the company broadly aligned.

Renting out your time means you’re essentially replaceable

Real wealth is created by starting your own companies or even by investing in an investment firm, they’re buying equity.

These are the routes to wealth. It doesn’t come through the hours.

If you don't own a piece of a business, you don't have a path towards financial freedom.

Everybody who really makes money at some point owns a piece of a product, a business, or some IP. That can be through stock options if you work at a tech company. That’s a fine way to start. But usually, the real wealth is created by starting your own companies or even by investing. In an investment firm, they’re buying equity. These are the routes to wealth. It doesn’t come through the hours.

Real wealth is created by starting your own companies or even by investing. In an investment firm, they’re buying equity.

These are the routes to wealth. It doesn’t come through the hours.

Nothing will make you more productive than owning your time.

Nothing will make you less productive than selling it.

It's not hard to own something. Or everything. You just have to know that it's yours, and then be willing to let it go.

He who seeks equity must do equity.

Believe that you are worthy of financial freedom. Do something you love and then all you ever have to do is be yourself to succeed. If you sell something you love, then you just sell love, not a specific product or service, and that will show.