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Subject:  Re: OT: KISS Date:  8/11/2002  9:58 AM
Author:  galeno Number:  73466 of 883085

GWM wrote:
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.

I agree wholeheartedly. I was able to retire after 13 years of accumulation because I owned and operated my own medical practice. This allowed me to make 5 times as much as opposed to have had worked as an employee in Costa Rica's socialized medical system.

Owning and operating one's own business is risky but can be very economically rewarding as GWM so aptly point out.
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