I came across an interesting book the other day titled Why We’re Getting Poorer: A Realist’s Guide to the Economy and How We Can Fix It by Cahal Moran. It’s an insightful read, but like many books of its kind, it explains things we already know—about finance, globalisation, the impact of technology, and the flaws in our financial system.
When it comes to solutions, however, it falls short. Books like this enhance the reputation of a London School of Economics economist, but they offer little practical advice for the ordinary person looking to increase their prosperity.
Here in South Africa, we don’t need another reminder that things are getting worse. For 30 years, we’ve heard talk of economic plans, but none have come to fruition. Meanwhile, there has been a socialist plan, but it hasn’t been implemented either. Instead, we’ve witnessed widespread corruption, with hundreds of politicians eating away at the government and the national economy.
Enough of this. The reality is that, for the ordinary person, survival and prosperity are personal responsibilities. We have to make money to live, to survive, to thrive.
But how?
If you aren’t living off a special grant, a widow’s pension, an inheritance, or a wealthy spouse, then your options for financial success come down to a few key paths.
1. Skilled Professions & High-Income Jobs
Despite corporate job restrictions and declining opportunities, certain skilled professions still offer a pathway to financial security. Fields like software development, engineering, finance, and medicine remain in high demand. However, these require education, training, and experience, which aren’t always accessible to everyone. Still, those who can acquire specialized skills will find themselves with higher earning potential.
2. Entrepreneurship & Small Business
Small business remains one of the most viable paths to prosperity. Yes, the failure rate is high, but many businesses survive because they provide essential services or unique value. The key is to find the right industry:
• Local manufacturing – Small-scale food production, beauty products, or craft goods.
• Scalable service businesses – Security, cleaning, digital marketing, logistics.
• Franchises – Expensive to start but proven models for success.
Entrepreneurship isn’t easy, but for those who succeed, it can be a powerful wealth-building tool.
3. Smart Investing
Investing requires capital and knowledge, but those who master it can build long-term wealth. Some young South Africans are buying Bitcoin, investing directly in shares, and exploring alternative assets. While risky, smart investing can provide financial security, especially for those willing to learn and take calculated risks.
4. Creating Value in New Ways
Some people break out of traditional financial paths by leveraging technology, social media, or new business models. Online businesses, content creation, e-commerce, and digital services offer opportunities that didn’t exist a decade ago. The internet has lowered the barrier to entry for those willing to experiment and innovate.
The Bottom Line
The path to prosperity isn’t easy, especially in an economy plagued by inefficiency and corruption. But waiting for government-led solutions isn’t an option. The people who succeed will be those who take control of their financial future, whether through skilled work, business ownership, investing, or innovation.
What do you think? How can the average South African build a sustainable living and secure their financial future despite economic and political challenges? Let’s start the conversation.
