I want to own nothing, but control everything. —John D. Rockefeller
What does Rockefeller mean when he says to “own nothing”? Rockefeller was one of the richest human beings to ever live on the planet. How can a wealthy person own nothing? Can success be found in owning nothing? I think so… and I am about to tell you how.
Disclaimer: The information in this posting is for entertainment purposes only.
Take what you think you know about owning things and throw it all away. Corporations own everything and they are controlled by people. The people that control the corporation have the power and wealth but no personal liability. So what Rockefeller was really saying was all of his wealth was in his corporations and he controlled the corporations.
Many people enter into contracts with banks, leases, credit agreement, where their personal liability is at stake. Why should you do that when you can have your corporation enter into those agreements. What difference does your personal credit matter when your corporation has credit. A corporation can save you from all kinds of financial trouble. For example, you get a bank account and a deadbeat employer writes you a check that bounces. In that situation, without a corporation, you could be personally liable for thousands of dollars from no real fault of your own. If the bank account is in the name of your corporation, there’s still the issues but it doesn’t affect your personal credit. How do you think a bank feels about a corporation receiving a bounced check from another corporation. It happens all the time and they just reprocess it until it clears. But when a regular guy does it, they put you in Chex Systems. Having a corporation can spare you all kinds of frustrations that the average person deals with on a day to day basis.
Have you every tied to complain to a company? Did it really seem like they cared? Some companies have gone a step further and have written terms of service that requires you to come and sue them in the city they do business.
Have you ever dealt with a company and though to yourself I need to get in on this scam! Well maybe you should. It recently occurred to me that many companies try to leverage your personal liability. Have you every tied to complain to a company, did it really seem there was anybody actually listening?
Get a corporation, sell a website or intellectual property or something to the corporation for 300k then take draws from the Corporation so that you don’t get a pay check. You can deduct many more expenses from your taxes by having the corporation paying for your phone, rent, automobile, health insurance and the miracle is at the end of the year, the accounting shows that you didn’t actually earn anything. Do you think corporations pay their share of income taxes? The jokes on us but one thing is for sure, if you can’t beat ’em, join ’em. I’m sure Rockefeller would concur.