You know if I created a buisness myself and had no shareholders demanding quarterly profit increases, that would be okay.
If it made 1 million in profit after 10 years and then needed to be shuttered that’s fine by me.
I imagine this would make an individual quite wealthy for their lifetime. We just think it’s unviable because we’ve been tricked into believing that a buisness must grow forever to be successful
Unless I’m misunderstanding what you’re saying, a million over 10 years equates to about 80,000 a year over those 10 years which is the median household income in the US. Far from wealthy and would still require you to work after that 10 years.
Is that the median? Most people I know are poor as hell I guess.
That would be just my income. Adding in my spouses would make it above median. I suppose wether or not you think that qualifies as wealthy is up to you, I know to me with my lifestyle I could really turn that into a strong foundation.
Seriously my income going up to 80k and my spouse’s being the same would be amazing. We could pay off student loans, replace my clunker of a car, get the larger house we’ve wanted (mortgage of course but so much easier to save the down payment), finally get the solar panel setup I want, pad out the retirement account, that’s just a lot of extra income over the time. Keeping my lifestyle the same all doable with that kind of increase in income.
Also never said I’d never have to work again. You could hand me 1 million today, and I think we both know that is not enough to live the rest of our lives on. Still a life altering amount of money.
And I guess this all comes down to.what we mean by “profit”. That’s after all buisness expenses, but I suppose I didn’t think in this hypothetical company if I’d be paying myself a wage or not.
You know if I created a buisness myself and had no shareholders demanding quarterly profit increases, that would be okay.
If it made 1 million in profit after 10 years and then needed to be shuttered that’s fine by me.
I imagine this would make an individual quite wealthy for their lifetime. We just think it’s unviable because we’ve been tricked into believing that a buisness must grow forever to be successful
I definitely agree, it just makes it a more precarious position to be in.
Unless I’m misunderstanding what you’re saying, a million over 10 years equates to about 80,000 a year over those 10 years which is the median household income in the US. Far from wealthy and would still require you to work after that 10 years.
Is that the median? Most people I know are poor as hell I guess.
That would be just my income. Adding in my spouses would make it above median. I suppose wether or not you think that qualifies as wealthy is up to you, I know to me with my lifestyle I could really turn that into a strong foundation.
Seriously my income going up to 80k and my spouse’s being the same would be amazing. We could pay off student loans, replace my clunker of a car, get the larger house we’ve wanted (mortgage of course but so much easier to save the down payment), finally get the solar panel setup I want, pad out the retirement account, that’s just a lot of extra income over the time. Keeping my lifestyle the same all doable with that kind of increase in income.
Also never said I’d never have to work again. You could hand me 1 million today, and I think we both know that is not enough to live the rest of our lives on. Still a life altering amount of money.
And I guess this all comes down to.what we mean by “profit”. That’s after all buisness expenses, but I suppose I didn’t think in this hypothetical company if I’d be paying myself a wage or not.