- THE NINE-TO-FIVER: This is the person who puts in a hard weeks work every week. Takes his allotted two, three, four, five weeks vacation time every year and then gets back to work. This person looks forward to turning 60 so they can start getting their CPP. They’ll bank as much of it as possible while they work until the magical age of 65. Then if they are still alive, they will either retire or continue working until they die or can longer work anymore.
Some of these folks love this life. They’re built to be a Nine-To-Fiver, they love coming to work and socializing with friends and clients this is the life they’ve dreamed of. A five day weekend to them is a nightmare, they wouldn’t know what to do with their time. These are the people who are eager to get back to work after a one week holiday.
Others are miserable. This brood of people tend to complain all the time. They never make enough money, they hate coming to work, they don’t get enough time off. I knew a few who… get this… complained about their bonuses. Yes, twice a year they would get a bonus of a few thousand dollars and they’d come in and complain that either it wasn’t enough, the government had taken too much tax or that they’d been there longer than so and so and their bonus was the same amount. These people are very hard to work with, especially for those who love being a Nine-To-Fiver.
- THE BOOTSTRAPPER: This is the solo business owner who hires a few helpers when necessary. These folks are like a coin. The heads rarely think about their future selves, they figure they’ll work until the day the die. They work hard at not paying taxes and constantly try to find ways to hide their money (to their own detriment). They live in the present making sure they have all the toys and trips they need to keep them motivated to work until they’re on deaths door. They don’t plan for injuries, setbacks or a life free from work. It’s literally DO or DIE.
On the flip side you’ve got tails, these entrepreneurs work as hard and fast as the tails side do; where they deviate is on knowing the difference between “wants & needs”. And that makes all the difference in the world. The tails improve their situation by paying taxes, thus increasing their future Canadian Pension Plan payout. They reduce their taxes by investing in RRSPs and loading up their Tax Free Saving Account. They enjoy the present moment while planning for a wonderful future.
- THE LANDOWNER: These good folks who tend to make a lot of money. They come from all walks of life. Some start off rich, (thanks to mom and dad) and others start with nothing and work their asses off until they make it. Some of the Landowners I know work extremely hard and have long hours, but they love the work. So it’s not really work for them. They love what they’re doing and their life is mostly filled with joy. These people could work seven days a week, 365 days a year and if you asked them they’d deny they worked a day. That’s how much they love it.
Other Landowners I know are filled with misery. They became Landowners to make money and they care very little about themselves or others. Sure they live a good life (in the money sense) but they’re not very happy people to be around. It’s all about how people are lucky to rent from them and how they are constantly taken advantage of.
Which of these are you or are you striving to be?