For the most part, the owner class does have a job. They have to buy and sell the things they own. They have to maintain relationships so they can get a better deal. And they gave to use thier influence to increase the value of what they own. It’s all fake work of course. It doesn’t increase the productive output overall. But it is a job. And pretty much full time at that.
The real answer is to be the kid of one of these people. Then you can make your money the old fashion way, inherit it.
andrewta@lemmy.world 3 weeks ago
Technically, I’m sorry, but that’s incorrect. Even if you own a company, you are still doing work. You may not be doing the physical manual labor, but you’re still doing work.
whaleross@lemmy.world 3 weeks ago
Not if you are rich enough you don’t. Most people still do because everybody needs something worthwhile. But you don’t strictly need to work when you have reached some arbitrary level of wealth and ownership.
Bustedknuckles@lemmy.world 3 weeks ago
If you parked a million dollars in QYLD, you’d get about $120k per year (pretax) in exchange for your contribution to society of “having a spare million dollars”
andrewta@lemmy.world 3 weeks ago
And how did you get that million?
scarabic@lemmy.world 3 weeks ago
Inheritance. Your move.
Xtallll@piefed.blahaj.zone 3 weeks ago
Usually, rich parents.
borth@sh.itjust.works 2 weeks ago
You think they got it by “working” ??😂😂😂
howl2@lemmy.zip 2 weeks ago
I will of course do my own reading on the subject, but how consistent is this? Does it have to be a million, or can it be a couple hundred? I am selling everything and seeking asylum overseas and may not have much ability to work for a while. Please tell me more.
Bustedknuckles@lemmy.world 2 weeks ago
It’s an ETF, you can buy as much or as little as you want. My understanding is that they take their money and sell options (covered calls) with at-the-money strike prices on NASDAQ. Each month, they pay out dividends, something like 1% per month (bit over 12% on a yearly basis). So if you park 100$, you get like a free dollar per month, or 12 per year.
It’s not hugely popular because you pay short term gains taxes on the dividends, a lot of tech does better than 12%, the shares can decrease in value if NASDAQ goes down, and if you wanted to (and had the startup cash), you could do the exact same thing without paying the ETF fees - buy 100 shares of QQQ for 62k, then sell a covered call for a month out, rinse repeat
scarabic@lemmy.world 3 weeks ago
“be part of the owner class” they said - not “be a business owner”
It’s completely possible to own a piece of this and a piece of that and just sit and watch the checks come in. You just need to enter the picture with enough liquid cash.