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What is Work-Life Balance?
Work-Life Balance Working normal 9-5 hours allows you to spend time with family and friends. It's about being able to take regular vacations and have weekends and holidays to spend with those you love.
For most people, Work Life Balance is non-negotiable. So, does that mean getting rich is impossible for those who desire Work Life Balance?
The good news is that you can be rich and have a life.
The secret to building wealth and having a Work Life Balance is the path to wealth you decide to follow.
There are 4 Ways to Build Wealth:
- How to Save-Investor
- Big Company Climber Path
- The Virtuoso Path
- The Dream-Entrepreneurial Route
The three paths to wealth that interfere with Work Life Balance are the Big Company Climber Path, the Virtuoso Path and the Drepreneur Path.
Big Company Climbers are people who focus on climbing the ranks of the company, with the goal of one day becoming the CEO of their company. Those who follow this route will have to travel between 30% – 70% of the time, which takes Climbers away from family and friends, while traveling. This Wealth Path will also interfere with holidays, weekends and holidays – projects, emergencies and commitments will eat into your family/friend time. A Big Company Climber works an average of 51 hours a week during and after their climb.
The Virtuoso Path to Wealth features people at the top of their field. They are industry experts or experts in their field. Because they are among the best at what they do, their time is needed and that interferes with family and friend time. Virtuosos work an average of 50 hours or more per week during their career.
Those who pursue wealth on the Dreamer-Entrepreneur Path are unlikely to have time for family and friends, especially during the early years of running their businesses. Entrepreneurs work an average of 61 hours a week, for many years. Once the business matures and is able to generate steady income, which takes an average of 12 years, Entrepreneurs can hire individuals to manage day-to-day operations. This frees up valuable time, allowing them to make up for lost time with their family and friends.
The most suitable way to build wealth for those who desire Work Life Balance is the Saver-Investor Path. This method does not require large working hours, like the other three methods. The only requirements are a moderate income and standard of living that allows you to save and invest 20% or more of your net income. However, this method takes a very long time. It took 32 years for the Saver-Investors in my Rich Habits Study to become rich.
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