My first job out of college paid me a starting salary of $56,000. They say accounting is a great career path if you want to get rich.
They just mumbled the second part of that sentence — how long it takes to make the big bucks and how brutal the journey can be.
But I took a chance on myself. I left the corporate world for a small company I was passionate about, where I saw room for growth.
Now, nearly seven years later, I make more in bonuses each year than I did in my first full-time salary…
Not trying to puff my chest out, I’m still no where near where I want to be income wise (hope you are reading this Greg 😉)
I just want people to think bigger. That’s why this short clip from an interview between Lewis Howes and Alex Hormozi resonated with me:
Here is link and full episode here.
The real way many people get rich? High income.
Many people stay stuck financially not because they lack talent or motivation, but because they remain in low-paying jobs.
I sympathize with those in this position and I know increasing your income isn’t as easy as snapping your fingers.
But what I see is a lot of people spending their time looking for get-rich-quick schemes. They’ll buy meme coins, scratch tickets, or find individual stocks that they obsess over and end up checking their phones 50+ times a day to check how they are doing.
Give me a break…
Sure, saving money and cutting back on expenses is important, but both have a cap based on your income and or living situation.
But raising your income? Now that has unlimited potential. Yet most people don’t even take the time to consider it.
You need to learn how to sell yourself.
Read Never Split the Difference by Chris Voss and learn how to negotiate.
If you’re making $100,000 a year, make a list of reasons why you’re worth $150,000 and ask for it.
Afraid of rejection? Cool. So is everyone else. But those who never ask, never get rewarded.
Instead of looking for shortcuts, focus on building your skills, and becoming invaluable to your company. Learn how to market yourself. Ask for raises. Explore additional income streams.
I don’t have a formal side hustle, but I know plenty of people who do, and I respect the hell out of them for it. Find ways to monetize your skills. Do the shit no one else wants to do. Go the extra mile. Show up early, stay late when you can.
Build a clear case for why you should be paid more. If your company doesn’t see your value, find one that will.
I hate the idea of constantly cutting expenses, endless budgets, or saying no to cool experiences strictly for financial reasons.
Again, there is only so much waste or costs you can cut out of your everyday life.
Yes, don’t be an asshole with your spending and make sure you are spending less than you make.
But I ask you — what’s the point of working hard if you never enjoy the rewards?
Nick Maggiulli puts it perfectly: "The most consistent way to get rich is to grow your income and invest in income-producing assets."
Remember though, making more money isn’t enough. You need the right money habits. It’s about discipline.
If you don’t develop solid financial habits when you’re earning less, you won’t suddenly become responsible when you’re earning more.
As your income rises, increase your savings into your 401(k), cash reserves, and investment accounts. And whatever you do, don’t rack up credit card debt.
Focus on your savings rate. Automate your finances so you don’t even have to think about it. Many 401(k) plans allow you to set an automatic 1% contribution increase each year—take advantage of that.
The real challenge isn’t just saving 15% of your income this year; it’s maintaining that for 10+ years. Consistency is the key and not many can sustain this for long periods of time.
Wealth isn’t built overnight. It’s built through sustained effort, continuous growth, and smart financial decisions.
Work hard, enjoy life, and stop looking for shortcuts.
The real path to financial success? Increase your income, invest wisely, and stay the course.
Disclosure: This material is for general information only and is not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results.
All indices are unmanaged and may not be invested into directly.
All investing includes risks, including fluctuating prices and loss of principal.