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Money Guy Show

Entrepreneurship vs. Employment: Which Path Leads to Financial Success?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.62.8K Ratings

🗓️ 2 February 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

You can be financially successful and wealthy whether you are an entrepreneur or traditionalemployee. But whichpath should you take? Does one path have a higher success rate than theother? Here’s what to think about if you are considering an entrepreneurial path and how todetermine what is best for you.

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Transcript

Click on a timestamp to play from that location

0:00.0

Entrepreneurship versus employment.

0:02.8

Which path leads to success?

0:05.6

I am excited about this show because we have seen both of these pla. I mean I think all

0:17.3

of us have seen these play out. We've heard this story of the incredible entrepreneur

0:22.1

that starts at the very bottom and builds a business

0:25.1

from scratch and it turns out to be incredible and they get to live life on their

0:30.3

terms and the way they want to and we've also heard the story of the person

0:34.4

who starts in the mailroom at the major corporation.

0:37.4

They work all their way up to the boardroom

0:40.4

and they save over an entire career

0:42.3

and they buy the house and they

0:45.0

save over an entire career and they buy the house and they build the white picket fence and they have

0:46.0

watch 2.6 kids and they get the pension and the gold watch and it worked out perfectly

0:50.0

and both of those stories sound amazing but is that a given is that what both

0:56.3

of those routes always turn into or is there perhaps more to the story I think we're

1:00.8

the perfect people to share this because I know there's out there

1:03.2

there's this whole culture of pushing people to be entrepreneurs. We've had the

1:08.2

front row seat to see what creates success, work with successful people, even do some entrepreneurial type stuff ourselves.

1:15.4

So we plan on being the tour guy that kind of lays it out there in a very balanced approach

1:20.5

because we're actually pro both and we just want people to know how does this work for your

1:26.8

specific situation so you can really risk analysis in the appropriate way.

1:32.3

And Brian we were talking about, we were like, okay,

...

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