Earning A Paycheck vs Owning Your Own Business

A Quick Look At The Possible Pathways to Wealth and Happiness

And now, let's talk about the wealthy. There are 140,000 people in America who have annual salaries of $1.5 Million a year or more. Who are they and how do you become just like them? The key? They are owners, not workers. They're three times more likely to get their wealth from owning a business instead of earning a paycheck.

And by the way, they own pretty boring businesses. They don't engage in fads that don't last long. They're not offering retail stores engaged in fashion or culture. Those businesses tend to only last a short time. Instead, successful wealthy Americans, they own the auto repair shop downtown. They operate a gas station or a business equipment contract or business that lasts decades. But here's the big thing you need to understand, even if you have a huge amount of income like these folks do, money is not a reliable path to happiness.

The studies tell us that beyond earning $75,000 a year, money has actually no impact on happiness. The activities that make people happiest, three of them: sex, exercise and gardening. A big happiness boost comes from being with a romantic partner or friends, not from colleagues, children or mere acquaintances. Mood gets boosted also when it's 75 degrees and sunny outside, and people are consistently happier when they're out in nature, particularly near water. By the way, on the path to happiness of 27 leisure activities, guess what ranks dead last? Social media. So if you're looking for happiness now you know how to get it. Own a business, engage in sex, exercise and gardening, preferably all at the same time.