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Why the Rich Own Businesses and Everyone Else Works for Them

Own Your Own Corporation by Garrett Sutton, part of the Rich Dad’s Advisors series, is a powerful guide to understanding one of the most overlooked strategies of wealth creation: owning a business entity not just a job.

While most people trade time for money, the wealthy use legal and financial structures to protect their assets, reduce taxes, and build lasting wealth. Sutton, a corporate attorney and financial educator, explains how corporations, LLCs, and other business entities offer powerful legal advantages that employees simply don’t have. From liability protection to generational wealth transfer, this book breaks down complex legal concepts into real-world advice for anyone looking to take control of their financial future.

But this isn’t just about starting a business. It’s about building a foundation for freedom the freedom to grow your income, keep more of what you earn, and build a system that works for you instead of relying on one that works against you.

Whether you’re launching a startup, managing side income, or growing investments, Own Your Own Corporation offers a blueprint for thinking like the wealthy and structuring your life accordingly.

Top 10 Lessons from Own Your Own Corporation

1. Wealthy People Own Systems Not Just Jobs

The rich don’t trade hours for income they own corporations, LLCs, or assets that generate income independently. Ownership is the foundation of wealth.

2. A Corporation Is a Shield Use It

Corporations and LLCs protect your personal assets from business liabilities. Without legal protection, one lawsuit can destroy everything you’ve built.

3. Taxes Are Optional If You Understand the System

Business owners get access to strategic tax deductions, write-offs, and deferrals. Employees pay the highest effective tax rates because they have the fewest options.

4. Don’t Mix Personal and Business Assets

Piercing the corporate veil is a real threat. Keep business income, expenses, and records completely separate from your personal finances or lose your legal protection.

5. The Right Entity Can Multiply Your Wealth

Choosing the right structure (LLC, S-Corp, C-Corp, etc.) based on your income model, liability risk, and long-term goals can optimize everything from taxes to scalability.

6. Corporations Don’t Die People Do

A properly structured corporation can outlive its founder, making it a key tool for legacy building, estate planning, and generational wealth.

7. Pay Yourself Strategically

As a business owner, you control how and when you get paid through salary, dividends, retained earnings, or reinvestments allowing you to maximize tax efficiency.

8. Compliance Is Part of the Game

Owning a corporation comes with responsibilities: annual filings, minutes, recordkeeping, and adherence to legal standards. Ignoring the rules can cost you protection.

9. Financial Education Is the Real Asset

Most people avoid corporations out of fear or lack of understanding. Sutton proves that with the right guidance, anyone can learn to own, structure, and scale wisely.

10. Stop Working for Money Make Money Work for You

The ultimate shift is mindset. When you own your own corporation, you’re no longer just earning you’re building a vehicle for freedom, flexibility, and long-term success.

Disclosure: This post includes affiliate links that may earn me a commission at no cost to you if you make a purchase.

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