On Wealth
I am working on my vision of my personal utopia within current society. More specifically, I am wondering about wealth. In that context, I am exploring various ideas, and I would like to chat. I am not using your services as a search engine, so please do not provide me links to any material. Those links distract me and make me lose my focus. Are you ready?
Basic Questions
What are all the possible ways by which a person can acquire adequate wealth that will support the accomplishment of that person's personal utopia.
How much money is required to live a comfortable life in my country on a per year basis?
What is the average wealth of an individual in my country?
What is the average work-based income of an individual in my country?
What is the average investment-based income of an individual in my country?
Entrepreneurship
What is entrepreneurship?
What is a small business owner?
What is an employee?
Compare and contrast an entrepreneur, a small business owner, and an employee.
If I ask a randomly chosen person whether they would want to be an entrepreneur or a small business owner or an employee, what would this person likely say?
Why do people want to be an entrepreneur?
Success Probabilities
Suppose a randomly chosen person wants to be an entrepreneur and wants to earn his or her living from their entrepreneurial business. Further suppose that the annual income that they desire from this business is equivalent to the annual minimum wage income. Based on the profitability information about businesses that you may have, can you tell me how much capital would be required to start this business? How much annual sales does this business have to accomplish in order to earn the desired profit?
What is the probability that a randomly chosen person will be a successful entrepreneur and earn the equivalent of annual minimum wages every year for 30 to 40 years?
What is the probability that a randomly chosen person, working as an employee, will be able to earn the equivalent of annual minimum wages every year for 30 to 40 years?
For a randomly chosen person, how many times is it more likely that this person will succeed in earning a living for their entire lifetime by being an employee of some organization versus by being an entrepreneur and owning and operating a business?
Imagine a randomly chosen person that is 20 years old wants to be an entrepreneur. So this person starts their entrepreneurial business. Given all the information that you may have, how many years will it take for this person to grow this business to be a large business? Further, what is the probability of that happening?
Employment
What are the top five employment categories which have the largest proportion of people?
What proportion of people are lawyers, judges, police officers, fire fighters, doctors, civil engineers, mechanical engineers, software engineers, IT technicians, scientists, and teachers?
What proportion of the population earns an income that is at least twice the minimum wage?
Which professions earn an income that is at least twice the minimum wage?
For each of these professions, how many years of specialized education is required?
For each of these professions, What is the number of years required to recover the entire cost of the required specialized education?
Suppose instead of undertaking specialized education, the person takes up a minimum wage job. Now consider the amount of money that this person would have earned while doing the minimum wage job. This money can be considered as lost income because of undertaking the specialized education. Considering this "sacrificed" income, for each of these professions, what is the number of years required to recover the entire cost of the specialized education?
Imagine a person who owns their own business, and from the operations of that business, this person earns an annual profit that is equivalent to the minimum wage. How would such business ownership compare with a job that pays the minimum wage?
Summary
Can you summarize the key points from our discussion?