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Nowadays, the idea of becoming wealthy is tied to entrepreneurship.
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In order to make a lot of green papers, you should start something on your own, be your
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own boss, kick-off that brilliant idea that would eventually make you a 7 figure earner.
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It's true that being your own boss will give you more control over your career or earnings,
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you won't be tied to a specific job that would force you to live under certain circumstances.
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And its also true that the world's wealthiest people today became who they are by starting
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their own independent ventures.
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That's definitely one way to attain wealth, but if you look at the facts, we live in the
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best of times where you can achieve an enormous amount of wealth by being just an employee
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with a regular job.
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Of course, this path isn't easy and filled with obstacles and challenges as well; however,
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despite the odds, millions of people have taken this path and made it.
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So theoretically, you can, too, assuming that you are going to put the required amount of
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effort and time into this.
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With the rise of globalization, the world has never been so competitive.
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Companies from every angle of the world are waging financial wars against each other to
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gain market share and maximize profits.
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Still, to do that, they need the best of minds, that's why if you are just an employee, theoretically,
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you have all the chances to earn 7 figures.
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Cybersecurity
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Especially when it comes to tech companies.
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Technology has never been growing as fast as it has been recently.
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10 years ago you probably had a phone with buttons, now its all screen and you can't
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live without it because it became a crucial part of your daily life.
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Almost everything you search, watch, and do is one way or another related to it, and that's
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what makes it risky as well.
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You are always vulnerable to hackers, which worries the tech giants who are providing
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these services.
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No one wants to gamble with its reputation, so the amount of money that's spent on cybersecurity
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is significant.
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According to IBM, a single data breach can cost a company up to 3.3 million dollars,
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and that's a 12 percent increase since 2014, which means that companies such as Facebook,
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Apple, Netflix, or banks, in general, would spend more and more on cybersecurity.
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This means Jobs in this field begin to pay enormous amounts.
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Cybersecurity engineers, for example, earn around 200 thousand dollars.
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But they are not alone, information security managers, cybersecurity analysts, all make
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something approximately 200 thousand dollars or slightly lower on average.
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The best part of it is that you don't need a degree or any kind of formal education,
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although it could really help.
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What matters is only your knowledge and experience in understanding technology and these systems.
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A tech conglomerate like Apple pays up to 1.5 million dollars to those who can hack
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an iPhone or mac.
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You can make over a million-dollar just by hacking your friend's iPhone.
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ANd apple isn't the only company that's ready to compensate you if you hack them.
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Facebook, Amazon, and other tech giant have a similar policy.
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So, in this age of technological revolution, hackers are very well rewarded.
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2.
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Traditional Jobs, Doctors, Lowers and Engineers
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It's not a surprise that doctors are paid enormously.
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Regardless of where you are in the world, doctors are always paid well enough, and in
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the United States, they are almost always millionaires.
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Take an example of Anesthesiologists.
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According to National Occupational Employment and Wage Estimates at the end of March 2019.
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Anesthesiologists, on average, earn around 267,020 dollars, which puts them on the top
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of the list of highest-earning professions in the US or even in the world.
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That's the average image of how much the top professionals are making.
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But they aren't alone in that category, surgeons, physicians, Gynecologists all earn more than
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200K dollars per year.
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It's not easy to become a doctor.
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Medical school is challenging and often requires full dedication.
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And even when you graduate, you still have years to practice before you become a fully
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capable doctor.
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Regardless of its complexity, there is a clear path to becoming one.
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You don't have to invent anything or to be super creative.
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The way is made clear before you, all you have to do is to follow it strictly.
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In comparison, as an entrepreneur, there isn't a clear path; everything looks blur, you have
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to figure everything on the way, and even if you come up with a perfect plan, there
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are still plenty of things that could easily ruin everything.
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Even if you work as hard as a medical student, chances that you will fail are way higher
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than a medical student.
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So, from the perspective of risk, taking the first path is much more secure and safe.
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And the same applies to Lowers and engineers.
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Of course, as a beginner, you will be filled with lots of paperwork and a salary that would
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hardly pay the bills, but as you grow in ranks, that paycheck keeps getting bigger.
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An average lawyer earns around 10 thousand dollars per month or a 120K dollar a year.
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But that number can quickly explode if you take advantage of the opportunities in the
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market.
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Companies might claim that they are all working for the common good, but in reality, behind
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closed doors, there battles in the quarts over patents, trademarks.
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And a lot of other things where the most talented and hard-working lawyers are paid millions
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to win cases before the judge.
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A million-dollar is nothing because the company can end up paying hundreds of millions if
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not billions if it loses a case.
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3. sales
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But doctors aren't the only ones who are paid enormously.
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The next profession can make you a millionaire even faster.
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Even if you don't have a college degree or any experience.
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In the world of capitalism, this profession is the mother of all other occupations.
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Sales!
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Of course, it will highly depend on what exactly you will be selling.
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Working at your local grocery store might not earn you a lot, but selling luxury cars,
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for example, might very well give an opportunity to make a considerable back.
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If you have watched the wolf of wall street, you know what I am talking about.
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Jordan Belford, who was the main character, built an entire company selling penny stocks,
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stocks of companies that often don't even exist.
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You can even call them trash stocks.
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Just a disclaimer, I am not saying you should be scumming people and selling crap.
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That's not the point.
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But often as a salesman, you are offered a commission on the top of your salary.
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So, you can earn as much as you want.
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You don't even need any kind of qualification.
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It all depends on your ability to sell.
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Some people are naturally good at dealing with people.
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They quickly build trust with strangers, which makes the entire process of selling a lot
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easier.
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Of course, most people aren't born with such talents, but if you still insist on taking
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this path, their lots of great books that can teach every skill you need.
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Humans are predictable; once you understand human psychology, it gets much more comfortable
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to convince them to buy something, even if that's something they don't need.
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Take a look at all the things you have, how many of those things you really need, not
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many, your closet is filled with clothes you never wear.
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And Sales commissions could go as high as 50 percent.
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So, even if you can't afford a college degree, you have all the chances by taking this path.
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4.
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Marketing
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With the rise of the internet, the advertising industry became ever more sophisticated; the
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entire internet grew by relying on ads.
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This powerful platform depends on ads to survive and thrive.
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Because everyone heavily relies on the internet for basic day to day needs, companies spend
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billions to track our habits to be able to create more accurate ads.
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In 2019, more than 100 billion dollars were spent on social media ads.
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And this number will only increase year after year.
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A lot of companies getting into social media but don't really understand how to use it
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wisely, that's why lots of companies emerged out of nowhere just to help these companies
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to spend their money wisely on social media.
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And the greatest part about it is that you don't need any degree or what so ever.
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Its something you can learn on your own and build your way up from there.
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5. real estate
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Real estate is probably the best traditional investment in the world.
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This industry will always be relevant; at the end of the day, people need a roof over
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their heads, regardless of whether the economy is down or up.
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This industry is worth trillions of dollars, and as the world population keeps growing,
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and more and more people are moving to cities, the trend for this industry seems only to
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be upwards.
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And if you are an extrovert who knows how to convince people, you can make a fortune.
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Real estate agents mostly make money from commissions.
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There is no limit to how much you can earn, the more you can sell, the more goes into
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your pocket.
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5 percent might not seem much when you sell a house for 300 hundred thousand dollars;
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5 percent does make sense = 18K USD.
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Of course, you aren't going to take all that money home because you have to split it with
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your broker and buyers broker, but you will still end up with a few thousand dollars.
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It might be super difficult to get your first deal; however, once you build up your reputation
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and create lots of connections, You no longer have to hustle day and night.
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Opportunities will just be coming to you.
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Conclusion
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These professionals pay a lot of money, but keep in mind that as you keep earning more
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and more, your tax percentage keeps increasing.
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At the end of the day, 86 percent of government budgets come from individual income and payroll
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taxes.
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For instance, every penny you earn above 40,125 dollars is taxed at 22 percent.
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While your first 9875 dollars aren't taxed at all.
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As your income grows, the portion you have to share with Uncle Sam grows as well, and
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At some point, it stops making sense when almost half of your income gets taxed.
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Your incentive to earn more drops as well.
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Currently, the tax rate peaks at 37 percent on everything you make above 518,401 dollars.
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That's why the wealthiest people on earth take a different path to wealth, where tax
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rates much lower.
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But risks are higher.