Is It Just Who We Are
How much of making a lot of money is down to who you are and what you were born with? Well if we are talking how much money you are born with then maybe, a large inheritance and parents with connections and the means to send you to a private education would certainly help. But what about intelligence, do those with a higher IQ necessarily make more money? There is some interesting research that says high school behaviours rather than IQ are a more accurate indicator of future earnings which really is saying that a good attitude will put you in a better position, if you can work well with others, apply yourself and get things done then it will work well for you.
Be Employed Or Work For Yourself
Moving a bit further into your career and you might consider the question of whether working for yourself will bring more income than being an employee would? Firstly it may depend on your occupation as a self employed carpenter can easily make more money but then you couldn’t really be a self employed Firefighter! But I think the real dilemma is basically risk vs reward, as in theory your earnings are limitless when self-employed however that limit applies downwards as well as upwards as there is no minimum wage either and you could even lose money!
Having A Good Education
A good education cannot be denied, it will certainly open up more choices to you and this choice will effectively give you a greater chance of earning a higher wage. Not to say that you can’t be hugely successful with no formal education, you just need to look at someone like Richard Branson. But no doubt if you have the grades to get into a good college or university then it should stand you in good stead, if you had the choice between Oxford Vs Cambridge for example then you are sure to be on to a winner but even then take time to consider which suits your career aims the most.
Making Wise Investments
It’s not all to do with what career you end up following but also what you do with your money once you are earning. Making wise investments is always just as important to how you end up financially as how you make the money as you can make as much as you like but if it all goes out as fast as it comes in then you’re on a hiding to nothing. Consider how much choosing the correct pension plan or mortgage can save you over your working life and it’s easy to see how these decisions are so important.