Is it fitting for a man to work a job for the rest of his natural life? Or should he evolve to self employment at some point in his life?

It all depends on the man and what he intends to achieve for himself.
A greater percentage (about three-quarters) of successful rich men made it with self exployment while the other percentage made it working for someone else.

But really for how long would you be under someone else and keep saying 'sir'?

I think you can only be a millionaire if you are self employed. For instance, you can never be a millionaire working for someone. And even in 9ja, no millionaire is empolyed under somebody.

Justdman, there are lots of millionaires who work for people IN NIGERIA.

hmm, it's good to have your personall work, but being employed is also great

Flint:

Justdman, there are lots of millionaires who work for people IN NIGERIA.

Well, Flint it depends on what you call a millionaire. From my own view, a millionaire in naira and not in hard currency is no millionaire. Note: a million naira is just 4k pounds (black market rate) which average 9ja in Uk could make in 3months but where is it in UK land. On this note I'd say that forthe reason that you have 4million naira doesn't make you a millionaire cos you're way behind the margin. Call me a millionaire when I have a million pounds in me bank account, not just in assets.

OK now that u define ur millionaire, I'ld say the number thins out but even in UKPounds, ther are a number. I guess tho there is nothing like the flex. working hours you get from owning ur business.

It's good to be employed and also with your bussiness outfit.

I think we have a lot of millionaire's in indonesian ruppiah in this forum, 1.00 NGN
Nigeria Nairas = 72.7247 IDR Indonesia Rupiahs . Do your maths , A millionaire is a person whose wealth amounts to at least a million dollars, pounds, or the equivalent in other currency.

So you might be a millionaire in one country and a pauper somewhere else.

Well as many said, depends on individual vision in life. Self-Employment is not easy, besides when you get sick, who would do the work? and there is no income from that. Maybe a Business Man. Mind you its different from what i understand. A Self-Employed person is someone earning one's livelihood directly from one's own trade. He works for himself, and earns from his work.

While a businessman owns a business and does not necessarily have to "work in it", he might have sales-people, manages, workers that work on his behalf in the business.

I think being self-employed or even a business man does not justify you have pre-requisite tp becoming a millionaire.

So Work or JOb? Well we have different interest, some people love to work, and cant risk working for themselves or starting their own business. While others cant just work. So its left for the person to choose. We need all the three in the economy of any country.

well said Kazey. Since we are discussing Naija, then a millionaire in Naira is a millionaire pure and simple. In this wise, most bankers, telecomm workers earn upwards of minimum f N1.5m per annum.

That said, we need to accept the fact that not everybody is meant to be an entrepreneur and being one is not really easy. The most important thing as far as am concerned is to have a fulfilling working career. And even if you are an entrepreneur, you still say "sir" to the people who provide your capital. If it's your self provided capital, then you are saying "sir" to your family. Reason being, you need to ensure adequate returns in order to provide a satisfactory and comfortable existence for them.

Jogego you are right here.
Even an enterpreneur owns his customers "sirs" and "mas" if he wants to make a head way.

Are we talking of millionaire in annual salary or millionaire in the real sense of the word. Somebody earning N1.5M per annum is NOT a millionaire. I would count a millionaire(in Naija terms) as somebody who can produce N1million naira if I tap my fingers 1...2 without blinking.
As for the question, the best thing is to be your own boss. You are limited by working under somebody.

IAH:

Are we talking of millionaire in annual salary or millionaire in the real sense of the word. Somebody earning N1.5M per annum is NOT a millionaire. I would count a millionaire(in Nigeria terms) as somebody who can produce N1million naira if I tap my fingers 1...2 without blinking.
As for the question, the best thing is to be your own boss. You are limited by working under somebody.

If your wealth ammounts to 1 million naira ++ you are a millionaire in Nigeria. Doesnt denote that your monthly salary has to be 1 million monthly or daily, you can earn 200k naira per month and still be a millionaire. And yes a millionaire can produce or raise 1 million anytime.

Why is being your boss the best thing? Limitations are everywhere. If you are business man and you have investors, you cant just carry out your own decisions that would bring vital changes in the company without the consultation of the investors. Maybe if you were saying Self Employees. Well then i do agree. But being self-employed is just not the best. Reasons? i already stated before.

Personnaly, i think i will derive the best of fulfillment owning my own business and beign an employer.

I think its something everyone should dream of, i dream about it everyday.

I think there are two ways to approach this:

1. Raise some capital and break off, start your own thing, i beleive that if its something you have a passion for you will do very well in it! Seun for example.

2. Start something now! Yes you can actually start something by the side of your paid employment, its a lovely feeling that you dont have to rely on your take

home to take you home! because sometimes it just wont take you anywhere.

I am tired of 30 days = 1 pay, multiple steams of income is the best way, you can be working and have businesses by the side and when the business grows

with some good management , then you can break out on your own.

Imagine you have extra money every month to take care of atleast fuelling your car, or paying your DSTV bills or an extra income that buys all the stuff your

family needs for the month without touching your salary, i donth think anything could be sweeter.

Lol good point, Exit strategies and passive incomes is very good, if someone can plan and develop one.

But how many people can setup a business, not to even talk about running one whilst still maintaining their normal jobs? It doesnt just go that easy besides there is capital involved. How many people can risk their entire savings into a business they can hardly maintain and concentrate on?

Its really a very difficult task, shuttling from a normal day job, to keeping a watch at your other sources of income. The stress is enourmous. We are different and i think its great just the way it is. The business people, the workers, the self-employed, and not forgetting the investors is a nice and perfect quadrant dont you think

There is no stress in investing your money in a business and watching it grow, your investment doesnt have to be to the tune of hunfdreds of thousands.
Its all a matter of choice, like you said people are different, and i respect your view.
As for me little drops of water make an ocean.

Well, kazey, looks like we both have different definitions of who a millionaire is.
Having your own business ROCKS! We don't want to know whether it is stressful or not, it is simply better than the other option. I don't think it is less stressful working under somebody.

IAH:

Having your own business ROCKS! We don't want to know whether it is stressful or not, it is simply better than the other option. I don't think it is less stressful working under somebody.

Yes nobody says it is less stressful, what i was trying to explain, was people live in different paradigms, and we should appreciate that. Personally I am a 100% business inclined person, so I am really not in support of getting a Job etc. But we have to be real about things on the ground.

I wouldnt mind if you explain what your definition of a millionaire is.

buddy:

There is no stress in investing your money in a business and watching it grow, your investment doesnt have to be to the tune of hunfdreds of thousands.
Its all a matter of choice, like you said people are different, and i respect your view.
As for me little drops of water make an ocean.

what is the guarantee that the investment will grow? Is there a law cast in iron that investments cannot be lost

If you have that mindset, then your business will not go far. There is always an element of risk in all we do, doing business anywhere in the world is no different.
If you are well informed, and you manage it well.....you will have good success.

buddy:

If you have that mindset, then your business will not go far.

Thats the kind of mindset that helps a lot of businesses surprisingly. For example personally, I look up to failures like "Donald Trump" (in the realestate department) as role models.

I see that lot's of men responded to this one. I'm impressed with this. I think that it's real to say that everyone can not be an employer because then who will work for you? all of the women and children? The other side of it is that many people are very inclined to be business owners, I'm one myself. I choose this topic because where I live here in America many African American men complain about working for someone else. I do understand and I thought the answer for most of them would be self employment.  Most of the brothers that come from Africa that I come across have very good work ethic and are self employed. I was just wondering what you all thought about men being self employed. It seems to me that it would fit better with your natures, your ability to grow more and hopefully be very ssuccessfulin building true capitalfor your selves, families and community.

I was talking about business ownership yesterday and one thing we discovered was that the customers are the one's who truly run the business because they keep it alive. Without customers any business will die. opp's I think it was mentioned already .
there are some very interesting points about self employment that will be usefull to anyone seeking to enter self employment. I surly Will consider what has been said.

Strategies to exit employment to enter self employment are defiantly key.  Thanks for putting that out there.

It does depend on the person and what their goals are because our perceptions and realities are very different. I guess I don't truly see how a man will truly ever grow beyond his everyday living by working a job. Sure there's benefit's like health care and retirement plans but what about creating real wealth for your family and building your communities capital with quality businesses that the community will benefit from years down the line?  One good aspect about working a job is that you can count on a consistant amount of money each month if there's no lay offs.

Self employment is the best but MONEY make MONEY

You need a good capital b4 you can say you are not ready to work for anybody again and you get rich

what a very nice topic, but the truth, like most pple have mentioned is that if a bunch of the capital comes 4rm someone else ur not all that much better dan someone workin for a job, cos u owe a lot of allegiance to that person,

also it depends on ur industry,

its easier for lawyers or ITpple to be self employed than doctors. or Aerospace engineers , so ur industry determines a lot too,

It depends on your personal goals in life.Lets face it,not everyone can and will be self employed;some pple are just not wired to do so no matter how hard they try.