Depending only on a paycheck is nothing but a kiss of death. "If all your earned income is as someone else's employee, you are among the walking dead.
Basically, he is positing that you can never be truely financially independent if all you live on is a paycheck from some employer, you will only be paid just enough to make you return back to work again and again, so set yourself free, start your own business and get librated. You should not put all your eggs in one single basket else you will live a miserable life, you do not have to wait untill some right time, the time will never come untill you get off your butt and act on your dreams. "Do not wait for a safety net as none will arrive, leap first and build your net en route". That does ot mean being fearless, everyone is afraid, it is how you push past those fears that counts.