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Escape Wage Slavery Forever
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- čas přidán 15. 08. 2024
- It may seem like there's no way out, but you can escape wage slavery forever. In this video I share the six simple steps that will set you free. Too many people don't know how to escape wage slavery, but the pathway is simpler than you might expect and anyone can do it if they're motivated to get free.
#wageslave #realeconomy #wealthcreation
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Finally an actual guru, and not someone who's trying to sell you a "course"... Nice! 🔥
Wait until I flood you with CZcams commercials ... 😂😂. Thanks for the compliment!
Bro i dont want to be annoying or anything BUT if u buy my course for 69.69 u will learn how to make 10 million in a day, minimum effort too
Wrong
@@MikeGastin 60% of Americans do not have a college degree. The average American makes 1,500 at highest. Most Americans are poor not middle class or rich.
@@ChrisHillASMR ???
great video in short
1. Tracking your spending
2. Lower your spending
3. Save enough for 6 months to a year
4. Learn new some skills for jobs or living
5. Have some investments
6. Start passive income streams
7. Learn basic economics
👊🏼
You forgot to list permanent birth control.. Nothing will ruin your finances like having to raise kids that you didn't have to have in the first place.
Just quit my job because my wife and I were able to eliminate debt, and the job I was "stuck" in was ruining our relationship and my life. The timing of this video seems serendipitous.
Wow! Congratulations, Thomas! How wonderful you were able to eliminate your debt. So many people are enslaved by it and don't realize that it's devoured their future and their options. I wish you the best as you figure out what's next. Let me know if I can help in any way! I should add, I respect you for prioritizing your relationship with your wife. You won't regret that. Ever. Cheers!
He's right. I'm big into Minimalism and I'm extremely frugal. Apart from bills and food and business supplies, I buy nothing. Recently I needed a bag but instead of buying one I upcycled some old jeans and made a new bag from them.
I have been able to thrive in both a crappy part time job in the past and now as a full time sole trader. I'm my own boss, work when I want and do whatever I like.
Glad I tokd every shit manager I had in the past to fuck off. Be a beast, be your own man or woman and utiluse your skills or gain new ones
Congrats on your freedom and your success!
Good job being frugal.
I know some people who have kids and they said they are frugal....having kids is the opposite of being frugal. Getting a vasectomy is frugal.
My man you are living like a hobo and you have nothing to be proud of
My husband and I broke free almost a decade ago. Never thought it was possible and we actually accidentally broke free. Back then I was so judged that I had to lie and tell people I got laid off versus me quitting.
Wow! Congratulations. I'm intrigued, though. How did you do it by accident?
@@MikeGastin Thank you. What I meant by accident was that we never planned or thought our current lifestyle was possible. We just like to save and then branches out to different kinds of investments and nontraditional income streams. Next thing we knew we had a lot of free time.
@@tippytoe1250 That's fantastic. Congratulations!
Jim Rohn said "wages earn you a living, profits earn you a fortune."
@@tippytoe1250hi, I'm intrigued, can you explain more please? What streams of income. I'd appreciate a hint, I've been like a slave at work all life and expected to do more and more. I would love to break free. Any idea would be welcome.
20 million people about to be evicted and 8 million fell into poverty
MIKE- Most of us have enough money to live on
80% live paycheck to paycheck. Most of them need 3 shitjobs and has no healthcare and still live in poverty.
Yeah I don’t know what Mike is talking about either.
As of August, 60% of adults said they are living paycheck to paycheck.
You can’t mindset shift out of long covid either which also affects millions of Americans.
@@kineticmeow9242 Depends on how you define paycheck-to-paycheck. Some people with high incomes live that way out of irresponsibility. However, most people do think of it as low-income and trapped.
There are limits to what you can cut back on. There is a baseline of food, shelter, utilities, clothing that you have to spend every month. You want to have 6 mo to 1 year of expenses saved. The focus should be asking yourself what will save you time and focus on activities that make you the most monthly income, (business, job, side hustle). Don't follow others by buying the newest car or biggest home latest fashion. Another trap is the golden handcuffs. You're paid so comfortably that you don't want to take a risk pursuing a dream.
I agree. You can't cut your way to health. It's a good place to start because often a lack of discipline is at the root of the problem. But, once expenses are addressed you have to find ways to generate more income.
Golden Handcuffs best comment in this thread .
Before the civil war, almost everybody worked for themselves - that's why they had slaves, many people viewed working for someone as a form of prostitution.
I'm in student debt which, with my current job, will take 2 years to pay off... freedom is definitely worth seeking
Seek freedom King!
@@homeacres9454 I already paid it off!
I thank you from the bottom of my heart. In this world full of mean coaches that are trying to sell some nonsense course, you are one of the few who are actually helping the lost souls. I pray to God that genuine people like you should get all the power and success!
Ah! Thank you, that's very kind. I really appreciated getting this note today, as I needed a little shot in the arm. Bless you, too!
you know that feeling when you come across something that's just right? that is me finding this channel!
Thanks, Tom. 🙏🏼 I'm glad you found me!
Just quit my soul sucking job where I had to constantly work over time, deal with toxic management and colleagues, even being called in on vacation after already having had to shift my vacation time two times. Our management had gotten a new client on board increasing our revenue by millions, even though we had already been struggling with the workload the entire time. Instead of fixing problems by hiring more competent people, they decided to increase the workload even more.
There was a time when I was working part time while living my passion by working as a freelance video creator and artist. I'm gonna implement your tips and get there again. No more wage slavery 🌞
Good for you! Many people will just keep suffering in the hopes that the management will change its ways. It never does. I am glad you got out and wish you the best as you build your business. 👊🏼
@@MikeGastin 👊🏽
Thanks for the great advice Mike! I'm a recent college graduate and have just started my first job. I want to avoid financial pitfalls, so it's probably best that I start good habits early
First, congrats on getting your degree! Second, it is ALWAYS easier to stay free than to have to fight your way out of bondage. I wish you all the best as you begin your journey. 👊🏼
By far the biggest pitfall is not getting permanent birth control.
Having kids is a permanent cost that can't be paid off quickly and it is also the most expensive cost..
I'm binge watching/listening to your videos and these are awesome! I'm learning a TON!
Thanks, man! I need to get settled back into a routine so I can start making more vids!
Really odd not once did you mention the cost of kids... You mentioned the classics cost cutting like credit cards, expensive car payment... But most expensive thing the average American will have is the cost of creating and raising kids.
Kids is also a more extreme cost because they are set for at at least two decades each.... Unlike credit credit cards, loans etc... One can pay those off quicker or much quicker in a bankruptcy... And kids also cost you time, you become a wage slave to them... Ironically, most kids also grow up to be wage slaves anyways.
I'm really shocked most financial advisers don't mention the biggest cost of all, having kids.
Sure, if money and wealth is your ultimate goal. But most advisors don’t mention kids, and why I didn’t, is in the hierarchy of values, having children is way way above money. Having children is hard and costly, but also sublime. It is part of being human. Whereas, using a credit card is not a fundamental aspect of being human. I’m kinda surprised that you’re even questioning this. I mean, don’t have ANY relationships … you’ll save a TON of money. And, you’ll be a miserable human being.
@@MikeGastin - I completely disagree.
A relationship with an adult, you can actually have a double income and that is the most ideal financially if you can pull it off....and a relationship like that can be healthy so you're not alone. Plus if you feel you wan to be a parent, you can get pets, they are much cheaper, less risk, less overhead, less legal and criminal risk if things go wrong etc etc.
I also disagree with 'part of being human'. It is a half truth. All species breed and have offspring so having kids isn't unique to human.
Second, plenty of people choose to be child free and plenty others simply can't have kids, and they are not any less human.
If anything, child free people, all things being equal, have more disposable time and money to help people who already exist instead of creating more humans with more problems to solve.
The fastest way out of poverty statistically is Dual Income No Kids (DINK). But the benefits are not just monetary. Being child free for life, again, all things being equal, one gets more sleep, can invest in self improvement and growth, education, health, relationships, business, hobbies...thus becoming a better person and more equipped to help others.
Of course there are ethical concerns too, like passing on hereditary diseases to your kids....knowing this world has thousands of diseases, natural disasters, unlimited greed, trauma, guaranteed death, wage slavery, salary slavery etc....And still bring a child in to such a world? USA supposedly a well developed country and yet 400,000 foster children. 200,000 people serving LIFE in USA prisons. 40% Americans will experience cancer. 15,000 children die every day worldwide....and the reward for working hard and having a long track record of smart decisions in life is painful old age followed by death.
Please be honest with people, tell them kids are actually the most financially costing thing most people will experience. And also costly for health too.
In USA, the average to raise to 18 years old is now $300k per child. That is the cost of a mortgage per child.
This can't be ignored considering millions of young people are struggling to take care of themselves.
I don't say to depress but to help people be informed. I know first hand, I have two teen kids and been married 18 years. But mainly I look at statistics because individual experiences are only anecdotal.
You're amassing statistics to legitimize your point. Okay, fine. Don't have kids. Have pets. It's exactly the same. 🙄
I would agree with you pointing out the biggest cost is going to be if people want CHILDREN.
With that said, your second reply in this thread seems borderline unrealistic: Why? The reason is that as you pointed out: Humans are like animals in this respect and are IN FACT animals > mammals > apes > homo sapiens.
Like all animals, humans are designed by biology to experience a LIFE CYCLE:
0. Birth
1. Grow
2. Learn
3. Work
4. Courtship
5. Nest/Home Building
6. Family Rearing
7. Supporting Family as they mature
8. Death
So you're 100% right for MOST people children is the biggest financial outlay and that limits their options to escape the wage slavery and as you rightly say, end up passing that wage slavery onto their own kids.
However, it's not a serious option for many people to defy the biological logic above: It's a natural part of being human to go successfully through life experiencing these stages again for the majority of people. To equate children to pets is to my mind a kind of laboratory science description and lacking in the human experience of raising children: A poor substitute. Yes a substitute and yes a cheaper one in financial terms but a poorer one in terms of the richness of being a human.
I do think if one does not have children then the chances of escaping "wage slavery" become much higher possibility and agree on that distinction.
As to escaping wage slavery, it's about escaping Work = Mechanical Drudgery paradigm. To find meaning and control and autonomy in work and then to earn sufficient incoming and reduce outgoings for family life, imho is where a balanced life should be designed for people in a society: Namely Capitalism in the West is extremely primitive system to put people into: Imho that's the root problem and where wage slavery becomes a serious and real problem that needs solving as this video attempts to point out... with varying degree of success.
A big big problem with modern society is the economic "grid" sets a harsh low bar of outgoings with costs and taxes and regulations on the basics of living... at least in developed nations.
@@commentarytalk1446
People tell me that they do see unfairness and greed, they create children and raise them "better" to make the world a better place.
I have a different tactic.
In last 200 years, human population went from 1 billion to 8 billion people. Oversupply of humans makes humans cheap and replaceable so it feeds in to greed and allows to treat humans poorly. If people push back and create a child free revolution worldwide that will sink populations - Then economic systems previously based on pyramids of population growth will be forced to realign toward population sustainable models.
I had planned on quitting my job , but now that the decision time is close im getting cold feet , i know they are about to offer me a new position with a nice raise , But i just hate being there
What were you planning to do after you quit?
@@MikeGastin I want to take a couple months off snd go into a different career in finance , currently im an engineer
@@hiphophead8053 Everyone has a different tolerance for risk and different abilities when it comes to making big changes. I'm not going to advise you either way, as you need to feel right about it. I will say, however, life is too short to be stuck doing work you A. hate and B. don't have to do. Make the change for sure. Maybe just rethink your plan of attack. All the best!
I was the same I was about to quit for 2 years until I finally did,at the beginning of covid. At a moment of maximun uncertainty. I just could not do it anymore I used to make over a 100k. It did not matter everything was off it was the same over and over again pointless tasks,useless meetings people you don't want to deal with. Just quit, something else will turn out.Covid actually made me realize that life is short and you don't have any idea how long you are going to live.
@@luistor4510 Good advice and good for you for stepping out.
I think the value creation works both ways: ideally everyone wants and needs a job where that job itself makes your life better, maybe a workplace where you learn new skills as you also mentioned or maybe a place close to where you live so you can be with your family more, etc.
I agree. And there's no shame at all working for a company. I think you want to find one that respects you and wants you to thrive, assuming you can create value. Owning a business isn't for everyone, but staying as free as possible should be everyone's goal.
Unfortunately it’s not just about a job
we’re slaves to bills,over purchasing,commitments,which the world society has forged on us
an individual may very well have a job,that they love,and still be in captivity, hence you have no freedom
for instance,monitored bathroom breaks
if you take too much bathroom breaks,that a problem
scheduled lunch breaks,you dare not go over your lunch break time
scheduled vacation,once again,you better,show up for work,at the appointed
time,and not get carried away,by vacation time.
still enslaved.
I'm getting into the trades specifically hvac career
The employers will need to ease up a bit. I can work hard but I also need recovery. They keep asking me to relocate and I'll probably just do something else local cuz it's too much of a hassle
In the Czech Republic, where I immigrated four years ago, I neither need nor want a car. I travel everywhere by good, extensive and inexpensive pubic transportation or by foot. My healthcare costs are quite low, and I am completely covered without deductibles or copays. One will find so many advantages to living in many EU countries, or other nations outside the US, that one should consider making such a move even if it requires a bit of sacrifice. We gave away more than 90 percent of our possessions, and we mostly miss none of them. Consider such a change. Oh, I teach physics, math and English, so I can see the value I add to my students' lives and experience. I like that.
I retired at the age of 54 14 years ago. It should be the goal of all employed workers to free themselves from the burden of labour! Some great tips. Not so easy if you are a low paid worker. Do not spend what you do not have! Debt slavery and wage slavery can ruin your life!
Congrats. So, what have you done with your time these last 14 years?
@@MikeGastin I do what I when I like! I have travelled a lot. I tend my large garden and I spend quality time with my family and friends. My health is good so no worries!
I agree but don't think when your young that Lamar is a bad thing but I think most people should try to retire at 50...not worth investing all that time into working for somebody.
Dont get too caught up with value equation it is probably least directly impactful. Figure how to create value for yourself first. Then scale later.
Would agree. 👍🏼
A big problem with cash is it's real value deceases by 10% or more every year due to inflation.
Especially lately. What do you recommend in stead of cash?
This video deserves a million views🙌
Very kind-thank you! 🙏🏼
"...I don't think colleges provide the value for what they charge these days..." * Immediately CZcams shows a university ad.
I found these advices very clear and common sensical, in a convincing and well paced way. This is becoming one of my favorite CZcams channels, and far better than others on the same category. I hope it keeps going like this.
Leave it CZcams to run an ad for Uni. I guess that tells us all we need to know about this platform. José, thank you for your kind words and for spending time with my content. What kinds of things do you want to learn or get more info on?
@@MikeGastin Thank you! for making such well thought content. There's good need for that here, where too much trivial or superficial ideas are presented as deep.
And it is curious that you ask because I've actually been thinking about it (as you asked in your last video). I liked your video about _How To Take Smart Notes_ because some of your thoughts about it were similar to mine (I'm making my own physical Zettelkasten too), and I also enjoyed the practical advice on this video.
I think there's some need here on CZcams about how to be careful with the total consumption of content on the Internet, and the way we do it. I see a lot of people accepting everything they watch or "learn" as truth just because it is presented in a persuasive or entertaining way, and yet at the same time thinking that absolutely everything is only an opinion.
There's a generalized disregard for objectivity, both by some content creators and by their audiences: if it will make you "engaged" then that's all that matters. Maybe some of the reason for that are CZcams and its algorithm's incentives and rewards, but there's also a cultural element that has to do with the way many have been taught or educated, I think. I believe there's some urgency to break free from all that.
_I'm sorry for being to broad and not more specific. It's a hard thing to think about, for sure! I hope I could convey some of my concerns and I'll be waiting for your next video._
Great insights, José. Thanks for taking the time to share them. I do agree on the education bit and wonder too about how many people feel like they "know" something just because they watched a video, but at the same time never put what they've learned into practice. They get the head knowledge but never build true competency.
BTW, isn't the Zettel awesome?
@@MikeGastin exactly. It's easy to watch a video about everything we might want to know (or that we think we want to know), but it is also easy to stop there and never practice what we have 'learned'.
And yes, the Zettel is amazing! It's really hard at the start tbh, but it is also very useful; even that difficult start is useful because it makes you think very seriously about your thinking, and how you really materialize that thinking.
This is my dream. My brothers are slave workers and they won't wake up from their slumber till I make it! It's frustrating to see them while I try to rise up slowly every year. I just hope they realize it in time.
Keep working on it-you'll pick up speed as you go.
You wont believe it but a friend sent me this video after i basically said to him the same things you say in your video, and i've been telling him these for the past two years. Personally, i'm on the path to fulfil all mentioned. That means im in the right direction. Thank u
Great minds ... 👊🏼 Glad you're already on it and it seems your friend is ready to start the journey, too. Wishing you great success and fulfillment!
@@MikeGastin On top of that, it is by a chance that I am a web developer, and I believe we can partner together for specific project(s). Couldn't hurt. Let me know if you're intrested.
@@kookia213 Always open to opportunities. That said, I do not get involved in web dev projects as much as I used to.
Great Vid…clear speech, right to the point and im diggin’ the hip hop beat segment dividers..and of course great consciousness awareness content🤙🤙
Haha! Thanks, Vic. 👊🏼
I am getting paid a lot and saved a lot yet... but freedom through working for a company is nearly impossible unless you work until 5-10 years before your retirement anyway... the goal has to be to get enough off-time for family and friends.
Have you ever thought of going into business?
@@MikeGastin Yes of course, often, but until now, I had not the opportunity or the guts to do it. But I am trying out some things...
Love it, brother!! It’s all behavioral habits people must master.
Thanks!
Yes
LOL ... I saved the company I worked for around 4mil EUR with just one advice ... never even heard "Thank you!" It seems some people were even angry at me ... guess some "bonuses" haven't been paid cause we haven't spend these 4mil ...
I bet the felt it when you left. BTW, if you're good at finding ways to save millions, you should go into consulting!
@@MikeGastin I'm actually consultant, but being from 2nd world country I'm upsold 3 times. First one local company sells my services to global outsourcing company. Which then sells myself to their other part in UK. UK sells myself to end customer (but as a kind of a package with other services).
I just realised they pay my around 1/10th they charge the customer ... LOL.
And it's still the same company I worked back then. I'm trying to find better deal, but even though they pay me 1/10th their rate is not that bad, and current market in my country (and worldwide) sucks a bit.
Maybe if customer knew I've save them 4m pounds, which is actually almost 5m EUR they will be grateful, but they will probably never know ... :D
Imagine what all the consultancy partners earned. Sorry that it went down that way but I'm glad you're seeing the situation and that at the same time you remain grateful. The future will offer new opportunities for you.
Companies are trying to bypass free market. For example, the confidentiality of the wage. I want to get hired, so I sell my services (my day's worktime actually..which is something completely different from selling services), but how do I know what the price of the market is to know how much to ask? That's like If I see a old person having a apple trees and I make him sell his apples ONLY to me, with a FIXED price, and forbid him to go to the market and inform himself what the price is..
And hiring itself is an act of skipping free market.
Normally lets say you make chairs and buy screws (at the price of free market). Well you can buy yourself the factory and the people who make screws, so they work for you for a (fixed) wage.. Maybe then they'll play pretend like an "internal free market" were you get a tiny bonus for performance (or worse, a pad on the head).
Who is forbidding people to "go to the market" to see what other employers will pay?
Besides, you can easily fix the issue you're concerned about by becoming a freelancer. Have multiple clients all willing to pay you for your work, take more control over your "wages", etc.
My sense is you're looking for a perfect execution of free market theory in real life. It doesn't work that way. Lot's of imperfections, variables, exceptions, and unmeasured behaviors. But, in the end, the concept holds up as a way to think about and understand the market. If you want perfection you have to live in your mind, and even that's not perfect because no one and no thing on this earth is perfect.
I'm an advocate for owning your own business. However, if you are an employee you can find out how much you're "worth" on the free market by applying to work for other employers and seeing what, if anything, they are willing to pay you. Do a little research online and you can also see what various jobs pay. Understand how much value you create for an employer and you can take that a step further. Put all these things together and a normal person would have a very good idea of what the "free market" will pay for your services.
@@MikeGastin As Einstein put it in his "Why Socialism" article (from 1949), your price as an employee is only dependent on other employees prices.
It doesn't matter how much profit you make for an employer. If you have competition (other people willing to get hired, like you but) with a much lower price, then the employer has to be crazy to not hire them (with they low salary demand, and accept you who set a salary price by calculating how much profit you bring to the company).
I'm quoting from Einstein: "Insofar as the labor contract is “free,” what the worker receives is determined not by the real value of the goods he produces, but by his minimum needs and by the capitalists’ requirements for labor power in relation to the number of workers competing for jobs. It is important to understand that even in theory the payment of the worker is not determined by the value of his product."
Anyways, my point is that companies want to forbid free market, not only by hiring people with fixed salaries, but also by interdicting any employee to disclose his salary.
When you go to the market to sell your apples you sit around other apple sellers, see their price, see/taste their quality so you know the value of your apples (what you sell), in that particular market/area/city (in that company). Your point is to ask more companies to see what price they accept. Well.. that's a different thing you're finding out. In other areas/cities/countries (companies) there will be different prices.. That doesn't show you what the fair price is in one particular city (company). You're just doing research on different areas where you could move.. That's a different thing. You can earn a lot more in a rich city but get paid bad compared to your co-workers, than working in a poor city with lower pay, but much better than your co-workers.
Relating to what you said about imperfections.. yeah.. I'll give you an actual example from my life: I was a beekeeper and one year was bad - bad weather - low production.
I though "Its not that bad.. we'll ask for a higher price". In fact, they offered us even lower prices for our honey.. (arguing Ukraine sells honey now at a lower price).
I laughed saying that's absurd, and refused their price. But my co-workers said "you're young you don't have kids.. but i have debs and I need the money right now, even if it will get me broke and have to quit beekeeping.." We couldn't find out if the Ukraine excuse was real.. it was very hard for us to find out, but my co-workers couldn't afford to test their bluff.. And I ended up not selling it..
In fact, an entire nation (Moldova) had a protest because they were selling grains and the price was low because of a presumed seller which had a low price. That seller was the UK, and it was a bluff (just to get the prices down.. but farmers couldn't afford to test their bluff)
Thanks for expanding. I do see your point. I don't support socialism, as I think it has worse problems. However, I will add to you complaint about companies: They are also for open borders because cheap immigrant labor pushed down the rates that national and local people can get for their work. The illegal immigrant is willing to work for way less. This is why the elite/capitalists/financial people want to keep the world's population flooding the mature markets. In my opinion, our problems are not down to markets. Markets are part of a larger, more complex issue. However, I do appreciate your comments and your perspective.
Love how you talk! So well and so clear! Just subscribed🎉
Thanks!
Thank you for This
It's a pleasure. :) I hope it helps and that you find great success.
I'm in Toronto Ontario I'm 31 .
I work in a supermarket make 45k a year.took forever to get there I had to work 7 years when I started it was at 28 k a year but now 45k a year ,maybe if lucky work another 30 years I can make 60,000 before I retire, hoping to buy a condo or at least a trailer one day, for now live ony dad's couch I get 700$ a week after deductions taxes union dues etc and rent for one bedroom is 1800$ so I'm stuck my dad's place don't know what to do, just buying time, smoking to much weed ,and trying to invest 50 to 100$ in Tech penny stocks like aitx but right now I have about 1500 invested and that's all I own that's my total assets 1500$ in stocks at age 31.
And at this point my lifestyle jail is my retirement plan, when I get too old and tired and don't want to work anymore just got to break the laws so the government can reward me by giving me a free place to sleep free food all paid by taxpayers dollars, and before you say jail food is s*** I'm sure there are millions of starving Ethiopians in Africa that would give anything for this Canadian jail food,be grateful I say
Congrats on getting increases. Have you been trying to get a better paying job or is working for the supermarket the best you can do?
@@MikeGastin my dad's been working there for 30 years he has five left he wants me to work there till I'm 65 I have been applying for manager positions but I keep failing it cuz I don't know any of the stuff how to do temperature check how to do inventory how to do shrink they don't teach me that I expect you to know, I mean after 7 years working there they trained me to stock shelves pick groceries and be nice to customers but that's all I know, I need to be taught to be a manager but how do you get manager experience my point is I've given up trying to improve it on I have all my hope I'm putting 200 bucks a week into aitx stock hoping that if not I have no plan just break the law so I can go to jail and get taxpayers to pay for my food and shelter
So glad I got like 4 years of living expenses ahead. But I dunno what to do to escape fully
Nice job! Not many people can save that much. Have you considered owning a business? You don't have to start one, btw. Just try to find one for sale. A lot of baby boomers want to sell their companies so they can retire. Of course, there's nothing wrong with starting a business, instead!
@@MikeGastin Hey, that's a good idea! What kind of businesses do you think I could buy and perhaps get some people to help me run it? I have around 300k usd from investments in crypto. And I guess maybe use time to develop mastery in something I truly enjoy
@@PepeDaily I would meet with your local accountants and attorneys, especially those that work with high-net-worth people. These guys know when companies are for sale or will be going up for sale, because their clients are the ones who sell. Explain that you're on the hunt for a company, etc. Also, assuming you have your own accountant, ask them what is reasonable for you to be looking for based on your resources, meaning get an idea of what size company and what kind of deal your CPA thinks you can put together. This way, when you start meeting with other CPAs you can give them an idea of what you're looking for. LinkedIn is a god place to start if you want to find and connect with CPAs and attorneys. Does this help?
@@MikeGastin Wow that sounds good. Thank you a lot! And I do appreciate fast response, I will subscribe to you aswell! I'm going to read more about this and we will see!
@@PepeDaily Glad I could help! I've got a newsletter, too, if you're interested. Just hit my homepage for the signup: mikegastin dot com
Very thoughtful. Very elaborate. Thank you Mike.
Thanks for watching. I hope you're enjoying freedom!
@@MikeGastin i have listened to his specific videos for probably more than a hundred time. This is gold. I wish you would do more videos on what wealth means. Thank you Mike. I super appreciate this content.
@@PartTimeBallroomDancing I appreciate your kind words and your feedback. I will absolutely do more videos on this topic.
My wage slavery has been, working like a dog, paying the monthly bills, paying the credit card debt, and saving for Federal taxes, and having only enough for food and fuel for my truck.
I am jumping off the rat wheel in two days. Let the chips fall. I'm out.
Abiud, I'm sorry to hear how hard it's been. Can I ask, what do you mean you're jumping off the rat wheel? Are you dropping out of society? Quitting your job to start a business?
@@MikeGastin Thanks for asking. I will be retiring, tomorrow is my last day. I can honestly say I was a slave. A real one. I used to work high tech. I had to turn in a schedule before beginning the project. My supervisor would cut my schedule in half. I guess this was his SOP. This would force me to work from home on my own time after work, and on weekends for no pay. That's what I call a slave. I'm not angry about it anymore, it's just a fact. I'm sure I'm not the only one that has gone through this corporate bs. Best wishes to you.
That’s great news! Congrats on your retirement! And, shame on your employer for treating you like that. What are your plans?
@@MikeGastinThanks for your reply. This is my first day of retirement. Well does Saturday count? My plans are to do a little stock trading, pay off my debt as I can, take care of my house, which has been neglected because I'm always working. (was always working) and hit the Gym.
My high tech career was a lot more aggravating than I let on. I went from a high tech career to driving a truck, almost over night. I haven't come to terms yet with my new unemployed status.
I guess when I wake up in the morning and it's storming outside, I won't have to go out in it anymore. : )
Best wishes.
Love it. Really. All the best and hope to see you in the comments again soon … especially since you’ve got all this newfound free time!
Valuable insight,and information
😊😊😊😊
the educational system(s) is truly orchestrated to make us,and keep us Intellectually/intelligently/stupid.
Whom ever came up with this revolutionary wage slave scheme
was and still are currently,absolute master-minded brilliant geniuses
because what better way,than to normalize something,which ultimately becomes fully acceptable,and unquestionable universal law.Just brilliant
we’re always buying,what they’re selling
both literally and figuratively.
😂😁
I've never favorited a video so fast
Thank you, Qdude-I hope it's helpful and that you find yourself free. 👍🏼
Workers MUST own and control the means of production.
I really dont think the value that one brings to the company in itself can dictatee if one feels fulfilled, appreciated, paid effectively..... we speak of the company as a whole but its made of individuals with personalities and attitudes. there are still situations where the numbers dont lie in terms of their performance however, when you have a supervisor and manager that can stand infront of your work then how does one navigate.
I agree with you. In a video like mine, you have to make some statements that generally true but not always the case in specific situations. If I had managers in the way, etc and I felt like I was not realizing enough of the value I was creating, I would look for a better job/opportunity. It's hard finding a new opportunity but the rewards can make it all worth it.
I’m enjoying stripping down to a happier minimalist lifestyle, I dont do materiel buys to ‘fill a space’ or waste money in things I don’t need
Don’t be a developer, unless ur ready to be a wage slave of a company. The dream of making your own program that your able to get rich of is dead.
What about working as a freelance dev?
@@MikeGastin Isn't freelance dev also just working for a company as one of a hundred other devs, but just you get payed more because the company doesn't provide you with any benefits?
Great video, Mr. Gastin. Thanks to videos like yours and Dave Ramsey, I am on my way. All the best.
So glad to hear that, Dave! I wish you all the best. I think things are going to get a little crazy in our economy soon but people like you will find a way through. I pray that God blesses you!
@@MikeGastin Thank you very much and I hope the same for you. I am not from the USA, but here is happening the same or even worse when it comes to the economy than in the USA. Take care.
um... question though after doing the savings stuff ... ok.. now you have a footing (1-2-3)
now its skills building and trying to leverage with you wage master.. but by definition you are still a wage slave, you are not an equal. (4-5)
then BECOME the boss? "income generating assets" ... (6)
um... how do you do this without being a snake oil salesman, Tchotchke huckster , landlord, wage master , profiteer though?
i need an ethical #6 ... i can't find it. any thoughts on that?
Thanks for the comment/question.
First, I think you have a flaw in your thinking. You're conflating slavery with working for someone. A true slave is someone who is considered property of another and is forced to work for that person. When we use the term wage slave (which was lifted from Marxists) we're really talking about people who are trapped in their jobs with no options. So, once you have some footing (no debt, savings, etc.) you are at the most basic level free. You can quit if you like to pursue different/better employment or to start your own business. The slave analogy is just that, an analogy and it's not meant as an absolute definition.
Second, you are also seeming top equate slavery with any kind of hierarchy, meaning until you're equal with you boss you're somehow a slave. Hierarchy and seeming inequalities are not intrinsically bad or evil. I'm relatively intelligent, but I am absolutely unequal to a master physicist working on the trickiest challenges of quantum physics. I just don't have the mind for that and I'm okay with it. I am not somehow oppressed by the fact that the physicist is more intelligent than me, just like you're not necessarily oppressed (the nature of slavery) by having a boss. You can of course have a terrible boss and that often happens. But again, if you've got some financial foundation you can dump that boss because he doesn't own you. You have agency, something a slave does not have.
Okay, with that out of the way, you ask if there is such a thing as a non-sleazy business. That's going to be impossible for me, or anyone, to help you with as your language betrays your prejudice. Sure, there are all kinds of sleazy and unethical businesses out there. Avoid those. However, you can have a business and employee people ethically and honorably. You are not automatically a "wage master" just because you employ people. Most people don't want to own a business and actually WANT to work for someone. The trick is to be a fair and humane boss/manager; to be caring and to be invested in the well being of your people and the people they are responsible for. I know many such business owners. Also, not all landlords are evil. Lots are great. You could be, too. I think the issue is not that you can't think of a decent business but rather that you're looking at any wealth creating activities through the lens of Marx. If that's the case, you'll never be happy until the state controls everything. And, if that day comes I can guarantee your life will be much worse than it is today because you'll be a slave of an impersonal, ideological, bureaucratic state.
@@MikeGastin
i appreciate the response.
it looks like we have different definitions on a bunch of stuff.
i understand your position, its a pretty common justification of capitalism.
reading anarchist theory would help bridge your response with my question; I'm not here to educate though, but instead to find answers.
i do find it interesting that we " can have a business and employee people ethically and honorably" but the state "controls everything ... impersonal, ideological, bureaucratic state."
i would hope if we believe we can run businesses ethically, we could believe we could run the state ethically......
but i appreciate the response: [paraphrased ]
the responsibility of running a business ethically is on the collective work of all the workers
guess the journey continues to find a product or service that doesn't exploit anyone or anything along the resource, production, transport, warehouse, retail, consumer and post-consumer chain. i have yet to find an untainted chain.
thank you again for your time and thoughtful response.
Fair enough. We're not going to change each other's positions. I would clarify a few things.
1. I am not a typical capitalist, as I'm against publicly traded companies as a protected class of "person". In fact, a lot of what we struggle with currently is due to the power and reach of public companies. The irony is that I'm typing out this message on a machine made by a public company and posting it to a platform owned by a public company. However, even though I am a free-market person I don't think the market solves all problems and nor do I think unfettered corporations are remotely a good thing.
2. I can damn the state while praising ethical and honorable business because the businesses that I see operating in a way that is good are those rooted in their communities, i.e., private businesses. These are manufacturing companies with hundreds of employees or large service businesses that cover a region, for example. These businesses have owners who know their people, grew up in their operating local; they're invested not just financially, but culturally, morally, and sometimes even spiritually. The state (collective and total), on the other hand, can never be those things and can never deliver a similar quality of life. It cannot help but be impersonal and ultimately dehumanizing.
3. The responsibility for ethical running of a business on the collective is silly unless you're defining ethics as majority rule. The collective decides and that makes it ethical. Of course, you're assuming the collective always makes the right choice, which is quite a leap of faith. You're also assuming that ethics are not rooted in objective truth but rather the "truth" of the collective. I realize we're at philosophical odds here and so are using different values systems to talk, but I cannot agree with the argument that there can be no objective truth or that something is good regardless of what the mob decides; the mob being the collective.
4. You'll never find a way to create wealth that meets your criteria because your criteria exclude wealth creation. You can keep searching, but your quest will be fruitless. At some point you're either going to have to give up or compromise (likely while making justifications). Of course, you could end up rejecting your current worldview. Crazier things have happened. If you were to do that, I would not suggest you dump Marx and anarchy for capitalism, as that's imperfect too. Rather than try to create heaven on earth, Utopia, (which is what Marx, anarchists, technologists, capitalists, and progressives are all trying to do) look to the transcendent.
I'll let you have the last word, if you like. Thanks again! I'm grateful for your thoughts and the chance to engage them. :)
P.S. I realize some of my positions are unworkable. E.g., public companies are not going away. I share these ideas for context, knowing my ideals are just as unlikely as yours. ;)
@@MikeGastin
thank you again for a fair and thought out response.
i will take some time to digest your words here.
If you are making $15 an hour in a retail job with not enough guaranteed hours, you can cover everything except housing/rent by living very fugally. So how are you supposed to live with no place to live? Go back and live with mom? Beg friends and family to let you live with them? Get a stranger roommate that you don't know how reliable they are to always come up with half the rent? Yes, leave that job and find your way to a better job, but that takes schooling or training which means debt with no way guaranteed to pay it back. And you are in your mid-fifties with no college degree. What should that person do?
Virginia, it's hard-no question. I'm not sure how this person (you?) got stuck doing $15/hr work in their mid 50's, but clearly there's a story with lots of details and factors that led to the situation. Everyone's situation is unique, but at the same time there's always a way forward for each of us. It's tough for me to say what you should do because I have no idea of your specifics. My best advice if you're in your 50s making $15/hr in retail is to try to talk to a career counselor. Maybe see if you can take some aptitude tests that might help you see opportunities in the workplace that don't require more education. (College is overrated and a fat waste of time and money for most folks, in my opinion.) Ask your current employer about a pathway to taking on more responsibility (manager?) which will equal more pay. Maybe you won't make a million bucks but I bet with someone giving you good guidance that you can find yourself climbing out of the situation you're in by the middle of the year. I know I didn't solve your problem, but even so I hope this helps.
@@MikeGastin Thanks and yes there is a story of depression, divorce, expectations, and hopelessness, but it's not me. I can't help my friend if they won't help themselves. However, it makes me, comfortably retired, realize what young people are facing today and it's quite difficult. Your advice to them is very useful.
I'm sorry to hear it. I suspected the situation had some past hardships and misfortune attached to it. Thanks for taking the time to comment and I hope your friend can find a way forward. They are blessed to have people like you that care.
One day I was surprised to see my wife's car at home when I got off from work. I went inside and she was making dinner and turned to smile at and said I quit my job. I was not surprised her job and her boss were too much to handle and she simply walked away. What made it possible was we have no consumer expenses. She took a year and we lived fine. We had to make very minor adjustments but did fine.
Wow! Love your story-thanks for sharing it. And, kudos for having the discipline to avoid consumer debt. So many people are trapped because they are too deep in debt. All the best to you and your wife. BTW, do you mind if I share your story sometime with my email list? I think it would be a nice inspiration.
@@MikeGastin definitely
Share as much as you like
Thank you. 👊🏼
How can one eliminate debt when one extended credit to even be in debt?
Is one not familiar with the constitution?
Some people believe they are born into debt as well as having to pay another man to live. 3:39
Banks can only do business with other banks. Are you a bank?
I'm not sure I understand your statements or questions.
After 17 years being an employee I quit my slave job bought a pressure washing machine from home depot $250 put an ads on Facebook and social media start making $350-900 a day
Congratulations! I am wishing you great success. And, good thinking to run ads.
@Mike Gastin thank you Mike, Covid pandemic was horrible to our society but it was a wake up call to start your own journey and you don’t need huge capital to start a business.
Yes and amen!
Thanks for the information. My customers found it interesting also. 👍
Glad to hear it. Am curious, though. Who are your customers and why are they interested in a video on wage slavery? 🧐
@@MikeGastin I work at Dollar General. I got the sense that my customers were listening in on the video. Very factual information. I hope to break out of the binds of wage slavery some day.
That's awesome! Thanks for spreading the word and yes, I hope you do, too. In fact, I know you will because you're aware of the problem and you want out. Most people don't even realize that they are slaves or that they don't have to be. 👊🏼
Guy is just a cunning Lawyer for 9-5 slavery.
Okay. How about this? "Buy Bitcoin!!! Make passive income!!! Buy my $2,000 course and I'll teach you how to be a billionaire while you live in your mother's basement!!!!" Is that better? 😂😂😂
Thank you!
It’s a pleasure. ;)
Good video and a lot of great points. However, I disagree with part of the value equation. In the hypothetical scenario you make 50k and produce 240k in revenue. Typically it costs the employer about 18-26% of your base pay/salary to retain you because of location, benefits, taxes etc. Ok, so let's average it at 22%. At that rate it actually costs the employer $61,000 to retain you (salary + cost of retention). This leaves 179K in profit from your work. Now this begs the question of what profit share would be "fair" for the employee. 25, 30, 40 , 50%? It's subjective. In my opinion, if 240k is about the average revenue the employee is grossing for the company I think it's fair that the employee is paid 100K instead of 50K, so about 41% of the revenue. Why? Well this is where im gonna get into some rhetoric. Corporations (the bigger multimillion/billion dollar entities NOT small businesses) make money, expand and grow by paying employees as little as they can while pressuring them to produce as much profit as possible.
If the company pays you 100K they are still profiting 140K from YOUR labor. They can choose to spend that money however they wish of course. They can be greedy and expand, hire more people, try to pay less to cover costs. Or they can use that money to maintain and polish the business. Maybe pay employees more which is likely to increase happiness and productivity. The biggest thing is that it is completely subjective. You have to think about WVTC; Work, Value, Time, and Compensation. How much work are you doing? How much value are you producing for the company? How long does it take you to do your job? How much are you being compensated. To end my long winded rant I feel like BIG corporations allocate more profit to the executives and shareholders, stiffing the average employee, while simultaneously crying about "overhead costs" and "expansion", when in reality they can CHOOSE to pay more to their employees and be perfectly fine but just choose not to because of, you know... greed.
Ignore any technicalities in my verbiage. You get the idea.
Anyways sorry Mike. Great video, im obviously passionate about this lol.
No worries! I am not a big fan of publicly traded companies. They are great for certain things, but mostly, they get in bed with the government and promote whatever the state desires, over what is good for their people and the communities they operate in. I am all for privately owned businesses, though. As to your math, sure. No argument. I will say, if you know you're generating a lot of wealth for your company and they are not being equitable with you, leave. You clearly have the skills and someone else will be happy to pay you more, assuming you're that good. Or, my favorite, start your own company. Thanks for the comment!
The only way is massive passive income in this world. The ways to get this in a fast enough flow are limited. I got one.
Don't agree. "Massive passive income" is the stuff of gurus and snakeoil salesmen. Sure, there are a few folks making that happen, but it's unrealistic for most. Passive income as a stream? All in. Massive passive? Good luck.
"Hey boss, I know I'm generating a quarter mil of revenue so I'd like a raise."
Boss cuts employee's head off, puts the brain into a nutrient vat connected to a computer. "I just need you to work. Think your best thoughts, and I'll let you enjoy a recreational sim now and then."
Haha. Funny … not funny. 🫠
The less you want, the more you have really is true. When I realised that time was the most valuable thing I own I started looking for ways to need less money because working a 9 to 5 was just not a sane option to me.....
*Very good video, but I personally wouldn't call this a "how to get out of wage slavery" video. To me it's more like a "Improve your financial literacy" video.*
Okay. How do you think one can escape wage slavery?
@@MikeGastin _Firstly, I think that wage slavery is a type of slavery that makes subjects dependent to a system and turns them into renters of privileges. I don't think there's a real way to escape wage slavery as I'm framing it, without completely changing the system altogether. Although, I believe you can lessen its grip on your life in two ways._
1.) By offsetting labor to others. That is labor that generates income, not paying someone to mow your yard but paying someone to mow yards that people are paying you to mow. Time and money is freedom but especially time. It's wiser to value a $2,000 profit from barely any time spent working than a $10,000 profit with barely any free time left. (note that a term like "free time" suggests you're otherwise not free)
2.) The other way is by making yourself more independent, and the best way to set up the foundation for that is by becoming a farmer. The time spent laboring in farming is flexible and just like 1.)... you're working for yourself. But you still need to pay land taxes (reduced for farmers in most places).
_There are other ways but none are stable, legal and/or family minded. Taxes becomes an insult on top of everything else. For US citizens, no matter where you are on the planet, if you're making money there then you owe taxes to the US... though, if you have the money to be anywhere else on the planet then this likely wouldn't be that big of an issue since you'd have the privilege and freedom to change your citizenship to another country. The rent for such a privilege is high, but the fact is we must at least work to eat so in this sense we are renting the privilege to exist_
Great response. Thank you. And, yes, I know the term "wage slave" was coined, or at least popularized, by Marxists. It seems to me that history shows revolution just trades one form of "slavery" for another. Is it better to work for a corporation or a small business or is it better to work for the State? I'll take a small business owner any day, but that's me. Offset labor to others and you become the wage master and they your slaves, according to Marxist doctrine. Farming is great. Hard, but great. Of course, it's very hard to make farming work these days unless you're a giant corporate, industrialized farm. In my opinion, the state (government) is out of control. I appreciate your thoughts.
My band is the U.S. Wage Slaves! 🤣
Oh! I'll have to check you guys out. 👍🏼
Hey everyone, see that picture of the Marina at the 11 min mark? Bet that creates a nice Bank roll every month.....k
Yeah, I bought that years ago. I make so much from the marina that I don’t need to work … or make CZcams videos. I just do those things to kill time. (Please tell me you’ve heard of stock video footage.) 😂😂
Get rid of your motorcycle? That's crazy talk!
Mike, thanks for the vid son.
You got it, pops. 👊🏼
9:35 -- Now you're having a discussion of equals between you and YOUR OWNER
Is that irony, a Freudian slip.. I don't know 😆
WOW!!!! How did I miss that. Yikes. Yeah, maybe Freudian. Best advice is get to a point where you’ve got your own business. To be fair, not everyone is wired for that. If not, try to find a company that recognizes the value of your contribution. They do exist, but it takes time to find them. Thanks for the great comment.
I had bad luck and lost probably 1000 bucks on dumb shit when I was younger. Always makes me mad. Probably 1600 or so if you count the black dudes that stole a phone I was trying to sell
I'm so glad that I meet the three first conditions, happy that I am not a wage slave 😄
Awesome!
Solid advice man
👊🏼
i escaped wage slavery by living off the government and i live one thousand times better then millions of working poor i love the new 1400 dollar apt the govenment pays for i thank god every day i am not the working poor by the way the working poor are treated there are millions of underpaid working poor
Nothing like good old government cheese.
@@MikeGastin i get a whole lot more then government cheese i am more then satisfied i thank god im not the working poor and i love the new 1400 dollar apt in the new building i live in my government pays for i feel like i won lottery i thank god no boss can not rob me by under paying me and live off my back millions of working poor could never afford an apt for the past many years adn many live in horrible severe health hazard apts i know very well how good i have it many working poor became homeless for the past many years from being under paid
You should make videos with all the free time you must have on your hands in your 1400 dollar government apt.
@@MikeGastin i have a youtube video of me eating a steak then i lick the plate for one hour
😂😂😂
🔥💪🏽💯 been saving all my money damn near all year from my current job started last December have about 4 months pay now after buying this cash car!! I’m not gonna wage slave to much longer man what about the desires and passions I have in life!!No cat notes no credit cards ima figure this out
Awesome! All the best on your journey to freedom. 👊🏼
I am the laziest man in my family to take money from my wallet let alone going to bank to take it
Have only low end debit Card , 0% fee but no e banking or that kind of luxury
I love this video and your message. I'm trying to look at your podcast but it looks like your website is down?
Thanks, Jotham! I had no idea my site was down. It looks like the whole server it's hosted on is gone. I've started the process of getting that sorted. I'm glad you said something, as being Sunday I may not have visited my site. 🙏🏼
This would be 100% better without that random background music.
Fair enough. I think I just used it for the chapter breaks. You no like?
@@MikeGastin It's just a bit jarring, breaks immersion.
Yeah, I can see that. Thanks for the feedback. It helps to know how my work is perceived and gives me ways I can make my vids better. 👊🏼
Don't say months and months because it sounds better than years and years
I have no idea what you're talking about.
This all sounds like pie in the sky....
I hardly believe *all* of it sounds like pie in the sky. Even so, you illustrate a really good point. Specifically, at the root of all of this is your mindset. You have to have a great attitude, courage, and perseverance to escape. It's not easy, but I can assure you, none of this is pie in the sky.
Any suggestions for how one can better understand the value equation? Books or resources you have used? I'd imagine this is harder in a private business. It seems to me that a firm understanding of a companies business model can only go so far if you don't have access to their expenses, profits, contracts, etc.
Hi Stephen. My web dev example is pretty simplistic. The fact is, not every employee is a revenue generator. I like to think in terms of transactional vs transformational work. Transactional workers do things like file paperwork or load a truck. If one is in transactional work, it's critical to get into a role that's more transformational. I think of transformational work as the things a company does to create wealth: R&D, engineering/design, sales/marketing, etc. As to your question, I do not have any books I can suggest. Each business is unique, etc. I don't think an employee has to come to the boss with a specific revenue number that they have generated. Start with figuring out how your work contributes to transformation/wealth creation. Do your best to quantify it in meaningful (if imprecise) terms, and approach the conversation with management from that starting point. It can even be couched in trying to better ascertain your contribution, meaning asking your management to identify/articulate how you contribute. Having them thinking in those terms should be enough to get things framed and productive. Hope that helps. Feel free to get in touch if you have a specific situation you're trying to figure out. Happy to help.
@@MikeGastin this makes a lot of sense. Definitely something I need to do a better job of articulating in discussions. Thanks for sharing the wisdom Mr Gastin!
@@StephenCerbone Brother, you're too old to call me Mr. 😉 Mike is fine. 👊🏼
Mike, I'm curious about the value equation. I am usually a part of complex projects with high impact. Up to 1/10 of the overall revenue, but there are other 30-50 contributors who are responsible for widely different things within that. How do you suggest teasing out my individual contribution from a 'muddy' data set... I guess is what I'm asking?
Thanks! Great video
Yes, good question. My example was rather tidy and easy to calculate, but is likely an exception for most people. I don't think there is a perfect answer, but this is how I would approach it. First, I'd look at the team and determine which roles are transactional (support staff, admin, etc.) and which roles are transformative, meaning which roles truly creating, solving problems, and creating value for your clients. Then, I'd try to weight the various transformational roles (informally, of course) on which ones are contributing the most to the transformative work, as that's the wealth creation. Also, I'd keep in mind that not all value has to be communicated monetarily. I'd also consider the difficulty or replacing a given role within your team and processes, paying close attention to your role. A discussion with management might start with what your team generates in revenue, and then move to your contribution to its success. I would always try to talk in terms of the value or transformation I create. It will be imprecise, but contextualizing your worth within the greater picture and within how you contribute and create value, rather than "People doing what I do are worth $XX and I need a raise," should result in a more productive and aligned conversation. I hope this helps!
Good video but the advice to ask for a raise is misguided. You dont need to justify the value that you bring when asking for a raise, your boss ALREADY knows this, they either recognize it and offer you something else, or they will play dumb.
Okay, then ignore my suggestion and just hope you get a raise. The fact is, in the world we live in you often don't get unless you ask ... and if you can learn to ask in ways that reframes the situation you often come out better off. But, you do you, bro.
thats not what a wage slave is. Your just describing people who can't save. A wage slave is some one who can't earn a living without being employed by some one else.
Historically, its some one who's not allowed to quit ther job, like an indentured servant, or when the native Americans were required to be employed by their old masters, after the emancipation proclamation.
I understand why you might think that, but You're not 100% correct. So ... the original concept of "wage slave" was coined by Marxists to criticize all the people that had to work for a living under capitalism. It was used as an attack on capitalism. Over time, the term has come to mean people stuck in their jobs. I think the examples you've shared already have terms: indentured servant is a god example, or slave, or bonded labor, etc. The things you bring up are (or have been) real and they are a problem. But, for most folks, the term wage slave has more to do with being in debt and forced to work for their living. If you watch to the end of my vid, I do talk about how to get free of having to work a job for someone else; the need for multiple income streams.
Ask yourself how much you actually own outright. People are just fine spending 30+% of their income on a CAR! I laugh when I see someone in their 20s making 50 grand pull up in a BMW. Fools!
☝🏼
your job pays the bills,your buisness pays the lifestyle
Nice.
Thanks Mike.. it was a helpful advice.
Glad you found it helpful! 👍🏼
Good luck, I have tried to help friends but you cannot stop them from being terrible with money.
Look around you, poverty is everywhere even if you are working with the minimum wage going up £3 in 27 years .
Minimum wage will definitely keep you enslaved.
step one control your cost, well i do not have any money
Really? Why not?
i hate work
i was made to be born rich
and wasnt
now i feel incomplete
I feel your pain, brother. 😂
Hoping for a new video soon.
I hear ya! I am in the midst of an interstate move-all my gear is packed up and we're busy trying to pull everything together. I should be back to it in a couple weeks! 🚚
@@MikeGastin Great. Have a good time while on the move.
@@vladimirpetkov1959 Thanks. It's kinda like climbing a mounting; a lot of work but the view is great once you get to the top. Just a few more days to go.
@@MikeGastin haha, glad to know you enjoy the climb also, not only the end result.
10k views for something as important testifies of the level of our society.
Let’s blame it on the algo. 😉
Use the internet. Passive income while you sleep. Debt doesn’t matter without an estate. Do like this guy. You drive the car. Owners don’t care about your money. Rule 1. Talk about it and ask this guy what he makes on his platform. His income
I'm not really certain what you're saying/asking. If you want to know what I make on this channel, it's essentially beer money. I make my living as a business consultant. I've owned a few small business throughout my career, but have not always been self employed. Passive income is fine as a concept, but I've found it's the rare person who is actually living off of it. Most people are working on some level, whether for someone else or for themselves.
Thanks Mike
My pleasure, Oluwafemi. 🙏🏼 I hope it was helpful and that you're doing well!
Yes it was. In between a decision and your video helped.
Thanks as always.
It's a good thing I used the notification bell on your channel
@@OluwafemiAkinyomi That's great to know-both that the video was timely and that the notification bell works!
I love you brother!!
Thanks, man! Love you, too! I miss the old livestream crew ... need to get back to that sometime. How are you doing?
@@MikeGastin Yeaaah you should man! I’m doing great, I hope you as well.
I'm doing really well, thanks. Lots of change taking place-all good. I'll do an update at some point when the dust settles.
Who df goes into debt willingly? Are people really that stupid to spend more than they make?
According to some studies, about 77% of Americans are in debt of one type or another. The system is designed to entrap.
@@MikeGastin Disclaimer: I'm from Germany. And sure we are hit from inflation too, highest increase being 200-300% for heating because most of the gas was sourced from Russia.
But seeing some comments from US americans claiming that they go into hundreds of dollars just for shopping groceries or that a couple hundred grams of meat/cheese cost over 10$ in San Diego shocks me and leaves me wondering: What does the system gain from entrapping someone? Just a poor guy desperate for taking any job he can get?
In the end you have a wage slave doing the wagie shuffle in Walmart or even worse, you go broke, live in your car at your workplace's parking lot or become addicted to opiods etc.
It just doesn't add up how such a system is tolerated and can sustain itself any longer (I'm talking only about the debt - I'm still all for striving for merit and prosperity)
@@Ed0Carnby I've wondered about the same thing, meaning what good is it to have everyone enslaved? The best I can come up with, and I'm not convinced it's correct, is that the elites are at a point that they can do just fine in the midst of a collapsed system. If you think back to Europe's history, the aristocracy was in a wonderful position and the majority of people toiled in the dirt to just survive. And, it worked for more than a thousand years. And, look at what most Americans seem to want: debased culture, non-stop consumption, etc. It's not like people are striving to reach their potential anymore. Most are looking down into the gutter and trying to find a way to wallow in the mud. Even so, there are people that want better and it is those people who will make the difference.
@@MikeGastin Consumerism seems to be the beginning of it all, being addicted to the anxiety/excitement of buying some new kicks and when they arrive you are rewared with a few seconds of dopamine just to subtract another 100+$ from your finite potential income.
But in the end, videos like yours and many other ways can help to realize that we all have a conciousness, skills and dreams and that you are not 100% determined to live on in the gutter.
you are such a pretty capitalist
Are you trying to flirt with me, Haidar? I’m not a capitalist, btw.
That's not what wage slavery is.
It's not how the term got initially coined, but it IS how people use it today.
@@MikeGastin Or how capitalists have retrofitted it to obfuscate the fact that the issue is capitalism itself, not one's participation in it.
I would agree with you to a point. The capitalist system does encourage participants to view themselves as consumers and encourages them to become enslaved to a consumptive lifestyle through debt. Even so, to argue that Marxism/Communism is the answer is laughable. I mention Marxism and Communism as it was the Marxists that coined the term “wage slave” as an indictment against Capitalism. Anyone who is awake knows that Consumer Capitalism and Communism are two sides of the same coin. Both are a form of progressivism and both lead to enslavement and dehumanization of the individual.
@@MikeGastin So you acknowledge you know nothing of Marxism or Communism. Dually noted.
Ah! And you, my friend, are an expert. I assume you must be living in a Communist country to be so well versed in Communism. I mean, you would not just believe in it because you read about it on the internet ... 😂😂😂
Nerd
🤓
This advice is so stupid. Same advice. Cut your expenses and live a crappy life. Instead of, start a business and make more money.
Uh ... clearly you didn't watch the whole vid. I exactly talk about starting a biz and making more money/creating wealth. The fact is, not everyone is ready to jump into a business right away. Better to learn how to control costs and get yourself to level up in steps if that's the case. What's more stupid? Solid advice that works for people where they're at in life or trashing some content that you didn't even watch? 😂
Control your expenses yes but always seek to increase income through your own businesses not a job and not by retraining in job
Yep, even I did it. I was lost, pissed, broke with all of the chips against me. Then I started a tech repair business. The biggest work area that I had was my bed, and I didn't have all of the correct tools. But I did it. I faked it until I made it. I worked 15 hr days. Sometimes I worked for free. All the time I learned and gained tools and built my own thing. Everything that you need is free to start your own thing. Google business. Facebook. Twitter. All free. Venmo is free. Paypal is free to sign up. Zelle is free. You can use Microsoft office for free with Office online. You have no excuse. Just get started. Do it.
Now I own a tech company and I design, build, repair, PCs and tech. Eventually I learned soldering, hotair rework, diagnosing. I wake up everyday and I can't wait to get started. I have money and give to charity. I hold seminars for seniors at my local library. I am not special. Anyone can do it and so can you. Find your passion and start there. Just....Fricken...Get....Started. Baby steps. You'll get it done.
Congratulations! Love your story and am grateful you took the time to post it. Thank you. I'd like to include it in my email newsletter, if that's okay with you. I won't share your name, etc. But, people need to hear about wins like yours. BTW, there should be a link to sign up in the description of this vid if you want to check it out. (It's free.) Thanks again and all the best for your continued success. 👊🏼
I’m sorry for swearing, but I’m just trying to emphasize the urgency to get started. And the urgency to get started even if you are going to take baby steps.
@@MikeGastin Absolutely Mike! I can edit that and take out the swearwords. Let me know if you want me to do that, and if you have anymore questions or need proof. I saw a video short here on YT last night about wage slavery, and it actually hit me deep. I went through that.
@@jameysummers1577 That's great! And, no worries on the swears. ;) I'll kinda bleep them out in the newsletter. Your "testimony" made me get choked up. People don't realize how freedom is within their grasp but how hard you have to work to make it happen. I give you serious props.
@@MikeGastin Thank you Mike! This is really nice to hear. Thank you for the kind words. There are a lot of things that I left out, but I hate to see people spin their wheels when they can achieve their dreams. I said in my comment that I'm not anything special and I meant that. If I can come out of dead end jobs, poverty, and going nowhere fast, really anyone can do it. And, thank you for what you do!
Wage slave is a system. As long as people work for money, so will wage slavery. You are subject to that system. Kvetch all you want but a real solution would be not to cooperate.
Not cooperate with whom?
Blabla guru nr 105.019.012 ? On how to create a new assets by sucking another empty, skills are only useful if they are paid for and you can get (and pay) the time and apprenticeship.
Or as a hobby or skill, craft to save money
???
I dont have no debt and im kind of hesitant to by a home just cause i dont want to be in debt even though a house is an appreciating asset, i just hate being a slave to the lender.
Do you currently rent? If so, does that cost more monthly than a mortgage? I get not wanting to have debt; respect it. So, I’m not advising you take a mortgage. However, if you buy smart, can’t you just sell the house at any time, meaning you’re not really a slave to the bank? Again, not saying anyone should take on a mortgage, but am making the point that it’s not so black and white. For instance, aren’t you a slave to your landlord? And, you’re not building any equity. Of course, none of these questions matter if you’re living rent free with your parents, etc. Would love to hear more about your thinking.
@@MikeGastin a mortgage would cost more unless you put like 30 -40 k down on a 150k house..
@@DeportillegalAliensGot it. What do you do with the difference? Do you save it? Invest it? Spend it?
@@MikeGastin I've been investing 9% pre tax and 9% Roth 401k and 2%company stock....I just drop my 401k to 4 % last WK though to grow my savings currently I have to in savings...cost of living in Cincinnati is probably middle of the pack nation wide I'm guessing....