Intro Page

Written by Phil Covington
Founder, ABCIncome.com
(c) copyright 2005 GRPMAX, L.L.C. & Phil Covington
Original URL:   http://www.abcincome.com/money-machine.html

EVERYONE Is A Money Machine!

Have you ever stopped to think about the fact that, aside from the unlikely event that you were to be unemployed indefinitely, you are absolutely a money machine?

No matter how little or how much you make, you ARE making money, working at something, somehow.

According to the most recent figures from the U.S. Census Bureau even someone with no education will earn about three quarters of a million dollars over his or her lifetime if they work until age 65. The more education and experience a person has, the more, on average, they will earn, ranging from an average lifetime earnings of $1.2 million for someone with some college, to $4 million for holders of professional degrees, such as doctors, attorneys, engineers, etc.

Maybe you’ve heard this before? If so, it probably doesn’t hurt to hear it again, because it is all too easy for most people to forget, or never realize to begin with, just how much money they earn, especially if calculated over your entire lifetime.

Really, though, the main reason that I wrote this article is to try to get people thinking about all of the money that they are giving, and will probably continue to give, to someone else!

There are two main ways that people give away their earnings to others, often without realizing it. One is in what we choose to do with our time. Are you spending a reasonable amount of your time engaging in productive and profitable activities?

For instance, even the poorest homes in America are seldom without cable or satellite TV. Interesting, because a person in such a household is more likely to complain about not having enough money to get by adequately. So, even in that poorest of situations, there has to be at least some money coming from somewhere. Money is being earned or realized somehow. Yet, because it is well documented that there is a direct correlation between the amount of TV a person watches, and the amount of money he or she makes (statistics show that people who watch more TV make less money) it would seem that the last thing that a person without much money would want to do would be to spend “too much” of their time watching TV?

This simply goes back to a recommendation mentioned often on ABCIncome.com: Try to spend an adequate amount of your time engaged in activities that will make you money, as opposed to those activities that do little or nothing to help you get ahead.

The other way that most people commonly give away the money they earn is by failing to be in business for themselves.

Ok. Maybe you’ve heard that before, too? However, I’m really trying to get at something else here. Yes, it’s absolutely true that people who own their own business can usually earn more than if they were an employee working for someone else. However, have you ever stopped to think of just how much money you earn for your employer?

Some jobs may really not “earn” an employer much at all. However, with many kinds of jobs you as an employee are directly contributing to the revenue that will be generated by your employer. In other words, you may be making your employer’s bank account look better, but are you doing the same for yourself!

Over the years I’ve watched people make millions, tens of millions, and even hundreds of millions of dollars for their employers, even though they were being paid less than $100,000 per year themselves! In some cases they were being paid only half that amount or less! Imagine generating many millions of dollars of income for your employer, while being paid less than $50,000 a year to do so… That’s fine if owning your own business is not for you. There are many people who prefer a regular job environment. But, if you have the aptitude to successfully own a business of your own, then you are probably selling yourself short by not earning those dollars for yourself.

Again also, not all jobs add to a company’s bottom line in such a significant way. However, if you are working in a capacity where you enable your company to earn the above kinds of returns on your efforts, shouldn’t you at least be getting compensated?

Of course, the reality is that many people, probably most, are not handsomely compensated for their efforts. The exceptions are usually those people who hold executive, marketing, or commission and/or bonus related positions in which they receive a percentage of the business they generate. Still, if you are generating big bucks for your employer, and only being paid a tiny fraction in return, it’s certainly something to think about.

The reality also is that many people, again probably most, do not effectively have much say in how they are compensated. True, you can negotiate your salary and benefits, but only to a degree, especially if you are not in one of the aforementioned positions typically associated with high income earners.

This brings us back to the point that you’ll often hear mentioned on ABCIncome.com, and that is the advantage of owning your own business, which lets you be the boss, and lets you determine your own earnings level.

So, how much do YOU think you’re worth?

Programs offered on ABCIncome.com have proven to be able to enable someone with little or no past experience with high earnings to be able to, within a matter of months, generate part-time income at an average hourly rate that works out to be in excess of $100 an hour. How does that compare with what you are currently earning?

The main point of this article is to make people aware of the fact that no matter how little they may think they earn, not only are they likely to earn a substantial amount over a lifetime, but you are also likely to make your employer’s bank account grow by substantially more.

By owning your own business you can increase not only the amount that you earn, but the amount that goes into YOUR bank account, as opposed to someone else’s.

Below I’ve provided a calculator that you can play with in order to see for yourself just how much you are really worth over your lifetime.

Try plugging in the numbers that represent your current earnings. You will probably be surprised to see how much you will earn over your entire lifetime!

Next, however, determine the amount of money that you think you are really worth, or that you would like to earn, or that you realistically feel that you could earn if you owned your own business. Then plug that earnings amount into the calculator and compare how much you will earn over a lifetime at your current wage, versus how much you could earn if you were earning what you think you are really worth.

Have fun playing with the numbers!

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To Your Success!

Phil Covington
Founder of ABCIncome.com

Copyright © 1998-2004 Phil Covington. All Rights Reserved. Marks used are the trademarks and/or registered trademarks of their respective owners.

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Last modified: June 24, 2005