In order to get rich, one of the most important things is believing you deserve to be rich. There are trillions of dollars out there for the taking. Why shouldn’t you enjoy some of the world’s prosperity as an honest, diligent, and talented individual as well?
I began developing my money mindset after reading countless stories of CEOs earning millions of dollars while driving their companies into the ground. They would get massive multi-million dollar severance packages for crap work that even a baboon could do. As soon as I started believing in my worth, my confidence shot up and the money started coming in.
IBM’s CEO got a $100,000 base pay raise to $1.6 million in 2015 along with a $3.6 million bonus in 2014, and a $13.3 million stock incentive reward payable in 2018. Meanwhile, IBM is down ~20% over the past two years while the S&P 500 is up 40%, a 60% underperformance! For half the compensation, you and I could do just as good a job as the IBM CEO. I’m picking on IBM here because I bought the stock in my active portfolio. One day this dog will bark!
On a more common level, I’ve seen people who are utterly unqualified get hired for jobs making multiple six figures with multiple six figures in stock options. Every time I see such an event I’m thinking to myself a couple things. The first is, What the hell were they thinking?!
The second question is the subject of this post.