On the radio today, I heard, "If the minimum wage rose as much as the average CEO salary over the last few years, it would be valued at $22.00 an hour". That isn't going to happen soon.
Money always has a way of attracting more money. A CEO can invest in equities when the stock market is going up and hedge funds when it's falling.
The very rich engage in "mergermania" by using their company's profits to buy other companies. You might think of this as a "hobby" for billionaires.
The average Joe has to work overtime or at another job to supplement his income. Some of his investments would be in mutual funds, but not too much, because he could lose much of his savings on a market downturn. It would be nice to invest $100,000 in a hedge fund, but most of us are paying off mortgages and other debts with hard earn dollars.
If one had the time, one could learn how to play blackjack and poker successfully.
It would be nice to make money off of hobbies like painting, woodworking, and writing, but those activities are labors of love first and anything else second.
If I had a windfall from a lottery and/or a book/screenplay sell, I would pay off our mortgage and some personal debts. I'd also do some renovations plus buy some decent speakers for my home theatre system and get a large high definition TV. After that, Irene and I would take a Newfoundland vacation. The price tag for all of this would be less than $90,000.
There are many children, Canadians and artists worse off than ourselves. After helping needy members in our families, we'd assist underdogs elsewhere.
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