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URL:  https://boards.fool.com/golfwaymore-writes-i-dont-know-of-a-speedier-way-17669561.aspx

Subject:  Re: OT: KISS Date:  8/11/2002  2:14 AM
Author:  intercst Number:  73451 of 882490

golfwaymore writes,

I dont know of a speedier way to create personal wealth than to own/operate a succesful business, successful being the operative word here. <grin>

I've known millionares who worked for "the man" and there are alot of them here. But I've never known anyone with enormous wealth who wasnt self enterprising. That's not to say that one has to be "enormously wealthy" to RE. However, I think reasonable people would agree that such a person will accumulate the greatest amount of wealth in the shortest period of time.

Following such a path has it's high risks, however. My father waited until age 50 to start his business which is now failing, and has pretty much sucked his retirement dry.


Great insights as usual, golfwaymore.

What percentage of the population is "self-enterprising"? (FWIW, I know I'm not.) And of this group of hardy "self-enterprisers", how many achieve a level of success in business that allows retirement by age 40 or 50? Surely we're down to 1% to 2% of the population at large if we apply this criteria.

I imagine your own extraordinary success of starting a business, and retiring from it, all before your 31st birthday makes you one in a million, or maybe ten million.

intercst

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