How to Grow Your Cashflow
Improve Yourself and Earn a Top Job In America
Photo by Silas Baisch on Unsplash
To grow your cash flow, you can do three things:
Make more, spend the same.
Make the same, and spend less.
Make more, and spend the same or less.
To make more, you need to improve yourself. Improving yourself means gaining knowledge, skills, and relevant experience. After that, you must promote yourself and communicate your value to employers.
To improve yourself, you need to be willing to invest time, energy, focus, and money. If you won’t invest in yourself, who will?
Let’s look at commitment.
Commitment
Improving yourself begins with a commitment to learn, grow, and improve. Once you’re committed to improving yourself and growing your cash flow, knowing who you are and what kind of work will be engaging, fulfilling, and sustainable is essential.
How committed are you to growing, learning, investing, and changing? Making lots of money doesn’t matter when you hate your job. Making enough money and living within your means is a great way to live.
If you’re unsure what kind of knowledge, skills, or experience you need to grow your cash flow, search within yourself, and explore new types of work that could feel more meaningful and be financially rewarding. If you’re not attached to selling your soul to the highest bidder and employer, you will surely learn more about your gifts, unique abilities, and what kinds of work best suit you.
Beyond knowing yourself, know the market. Americans' most prominent source of income is what we do for work, career, or profession. To study the market, study the professionals that earn the most.
Notice the amount of time, money, and education these professions demand. High-paying jobs typically require specialized skills, education, and experience and are often in high-demand fields.
Top-Earning Professions
Here’s a list of several of the top-earning professions.
Physicians and Surgeons.
Physicians and surgeons are among the highest-paid professionals in the United States, with median annual wages of $208,000, according to the Bureau of Labor Statistics (BLS). These healthcare professionals diagnose and treat illnesses and injuries and may specialize in cardiology, neurology, or surgery. Physicians and surgeons typically require extensive education and training, including a medical degree, residency, and licensure. To look even closer, consider the difference in compensation is lower for generalists than specialists.
Dentists.
According to the BLS, dentists are another group of high earners in the healthcare field, with a median annual wage of $159,200. Dentists diagnose and treat dental issues, including cavities, gum disease, and other oral health problems. They may also perform cosmetic procedures, such as teeth whitening or veneers. Dentists require specialized education and training like physicians and surgeons, including a dental degree, residency, and licensure.
Orthodontists and Prosthodontists.
Orthodontists and prosthodontists are dental specialists who focus on aligning and reconstructing teeth and jaws. According to the BLS, these professionals earn some of the highest salaries in the healthcare field, with a median annual wage of $228,780 and $142,830. Orthodontists typically work with patients who need braces or other corrective devices, while prosthodontists may specialize in dental implants, dentures, or other dental restorations.
Software Developers and Computer and Information Systems Managers.
The technology field is another area with high-paying jobs in America. According to the BLS, software developers who create and maintain computer programs earn a median annual wage of $107,510. According to the BLS, computer and information systems managers, who oversee technology projects and systems for businesses and organizations, earn a median annual wage of $151,150. These professions typically require a bachelor's degree in computer science or a related field and specialized skills in programming, software development, and project management.
Chief Executives.
Chief executives are the highest-ranking officers in businesses and organizations, responsible for setting strategies and leading teams to achieve goals. According to the BLS, the median annual wage for chief executives was $186,360 as of May 2020. Top executives typically require extensive business experience, leadership skills, and a bachelor's or master's degree in business or a related field.
Executives.
The average executive salary in America can vary widely depending on the industry sector, company size, and geographic location. However, according to recent data from the Bureau of Labor Statistics (BLS), the average annual wage for chief executives in the United States was $193,850 as of May 2020.
According to a 2021 report by the Economic Policy Institute (EPI), CEO pay has risen dramatically in recent decades, far outpacing the growth in average worker pay. The report found that the average CEO of a top 350 U.S. company earned 320 times as much as the average worker in 2019, up from a ratio of 61-to-1 in 1989. The report also notes that this trend toward rising executive pay has contributed to growing income inequality in the United States.
Lawyers.
Lawyers are legal professionals who advise and represent clients in legal matters. According to the BLS, they earn a median annual wage of $126,930. Lawyers may work in various fields, such as corporate law, criminal law, or intellectual property law. They typically require a law degree and licensure to practice.
Psychiatrists.
Psychiatrists are medical doctors who specialize in diagnosing and treating mental health issues. According to the BLS, they earn a median annual wage of $220,380. Psychiatrists may work with patients with depression, anxiety, bipolar disorder, or other mental health conditions. Like other medical professionals, psychiatrists require extensive education and training.
Small business owners.
According to recent data from the Small Business Administration (SBA), the average small business owner's salary in the United States is $71,813 annually.
Improve Yourself, Grow Your Cash Flow
In conclusion, the most common approach for growing cash flow is making a better living. Investing in and improving yourself is essential to make a better living. Even if you’re not among the privileged, millions of people improve themselves by beginning with the internet, reading books, finding mentors, and getting on-the-job training.
Sure, it’s okay if you’re not motivated to borrow hundreds of thousands of dollars, go to medical or legal school, and find a job simply because it pays well. Millions of us discover that living in the rat race is vastly overrated. At that stage, our quality of life isn’t about how much we make; it’s about the significance and meaning we experience being who we are.
You'll gain new education, relationships, value, and opportunities when you know yourself, what you want, and what you’re willing to commit to and do. Even though many top-paying jobs in America are typically found in the healthcare, technology, finance, and legal fields, you can still make a great living by owning a small business or working as an executive or manager. It’s a blessing to have a job you love.