I was working with a student the other day and the subject of buying homes came up. He mentioned that he had a mortgage, and that was better than renting. I, felt confident why he would say this, but let him explain (he is practicing English, after all) that once you are finished paying the mortgage, you… have the house.
I agreed with him, and then reflected that it was like a business. You see, a few years ago when I was thinking about investing in the Smith franchise, a friend said, “hey, isn’t that like buying a job? ” I had my responses then but now I would add more. After you have finished a job (you quit, retire, etc), you have nothing, rather like renting. But with a business, after you feel ready to stop, you not only have had the benefits of the job (an income to sustain you) but you have the residual business which you may sell for some price. Can you sell a job?
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