Rich Dad, Poor Dad, Poor Grandma

Every time I speak with grandma, she would ask me how my cousin’s business is doing. I would say the business is doing superbly, there is more demand and she and her boyfriend/business partner could supply to and they are expanding the business and she earns WAY more now that she did in the bank last time.

The last part of the last sentence starting with WAY is of great significance because grandma belongs to the poor dad category. She would always think that I have it better because I have a secured job with a good firm and I earn a steady income.

My grouse is that if I should slog for a business it would make more sense that it should be my own business. Sure the risks are higher but so are the returns. In the end it is your loss or your gain. Working with a firm, neither is yours.

I do not profess to be Marxist. But Karl got it right and he will always be right on one count: You either own the means of production or you are the means of production. In the latter category, you are easily likened to a machine. You rarely benefit from incremental gains of your input beyond your fixed salary. Sometimes there are carrots like commission. But commission changes the equation because it is as if a form of ownership.

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