The biggest garbage in the world of career advice is to do what you love and the money will follow. What a crock, and people still say it. Instead, find something you enjoy that pays good money.
jason
· 4 months ago
Exactly. I have been telling people that forever and people always say "do what you love and the money will follow." I just cant wait to prove them wrong.
Rob Bennett
· 4 months ago
I think that the goal should be to integrate your work desires with your money desires. "Do what you love" is an extreme statement. But so is "there's nothing wrong with working for an employer." I have known people whose dreams were crushed because they recklessly did what they loved. And I have known people whose dreams were crushed because they counted on employers to be help them realize their potential.
We need to stand on our own and we are strongest when doing what we love. But we also need to live in communities and that means tailoring our desires enough so that people are willing to pay us for what we do. You cannot realistically expect to be able to get away with doing ONLY what you love. But if you compromise too much, you will eventually lose the fire that brings great success and great wealth.
Rob
Matt SF
· 4 months ago
Agreed! Do what you love and go broke still applies to 99.9% of the world.
The phrase starving artist was invented for a reason.
Wojciech Kulicki
· 4 months ago
@Flexo @The_Weakonomist - The best career advice in regards to "doing what you love" was from a college career counselor.
He made me realize that people have occupations (what we do to make a living) and avocations (things we love to do).
For those lucky enough, our avocations ARE our occupations, but more often than not - we USE our occupations to pay the bills, and "fund" our avocations.
That meeting opened my eyes and literaly transformed how I saw the world of work. Suddenly, I didn't have to be frustrated about my primary job not always being my passion. I could do what I had to in order to pay the bills, and do what I loved to feed the soul.
clare
· 4 months ago
I was lucky (although I didn't appreciate it at a time) to have an accountant for a father, who had grown up in a developing country and had spent a childhood with 8 siblings and little to no money.
As such the value of money was instilled in us from a young age. I will long remember my fathers mantras: 'if you you don't need it, you don't want it, if you can't afford it, you don't want it" 'why give money to the bank?" (talking about interest on credit cards), "Those blighters will rob you" (American banks) and "'what do poor people do?" (when as an adolescent I would want designer clothes)
Although I used to be upset that we only had 1 TV and that it was purchased in the seventies (it finally died 3 years ago and has since been replaced- with a free one my dad managed to get from a friend), that my parents still had all the furniture they bought when they were married, and that we never had the 'cool clothes" or 'cool toys" I was blown away when I reached college age and my dad dropped $300,000 on my education (from BA -PhD) so I wouldn't have any student loans (see comment above about giving money to the bank). He also paid for my wedding last year, and has money put aside for a down payment for when I want to buy a house. As I watch my peers and husband struggle with student loans, I now appreciate why I didn't have an easy bake oven, and squirrel away my money so that one day I can do the same thing for my kids.
Craig
· 4 months ago
Growing up my parents did teach me a few of these tips. Wish they would have taught me more about basic personal finances such as with credit cards and retirement. Savings and being frugal were good tips, but more long term strategy and the importance would have been very helpful.
Matt Jabs
· 4 months ago
One thing both us and our parents were completely unaware of...
International banking interests using debt to manipulate our government and gain control over our money supply ---> Federal Reserve.
What if our world were no longer run by governments... but by international banks? Sound ridiculous? Sound like a conspiracy theory? I challenge you to study it out...
Gordon
· 4 months ago
@ Matt Jabs You are 100% brother!
Support Ron Paul's "Audit the Fed" bills!!
gordon
· 4 months ago
Watch "The Obama Deception" on youtube.
mike
· 4 months ago
Read the article The Return of America’s Anathema, by Jerry Salcido, at campaignforliberty (dot) com
Chelsea
· 4 months ago
I have spent my 20s trying to undo #9, and facing the reality of #10! It's true, it is very difficult to undo the impulse spending behavior you might or might not have developed as a result of watching your parents buy whatever they wanted, then pay later.
Good post Flexo.
- Chelsea (with Quicken)
Matt Jabs
· 4 months ago
My favorite points are #'s 2, 3, & 9. Common sense approaches that seem to have been stripped from the common sense of the day!
jason
· 4 months ago
If everyone had been doing "save first, then spend" we probably wouldnt have been in the mess we currently are.
Bud
· 4 months ago
There is a great deal of wisdom in these ten things.
My parents taught me to pay my bills, and to not spend more than I made. They grew up poor and did not ever know much about money; but they knew how to work hard, so they were able to provide for their kids.
Much of what I have learned about money I have learned through experience, study, and resources such as this; a benefit my parents never had.
The best thing about all of the advice in these ten things is, it is truly never too late to learn. And for younger people, the sooner you learn, the better off you will be.
AJ
· 4 months ago
This is all so true.
Flexo
· 4 months ago
That's irrelevant for most people. Some simply have no desire to run their own business... and why should they? If everyone ran their own business, or attempted to do so, this country and the world would grind to a halt. Funny how the people who bring up Kiyosaki are those who have something to sell. There is absolutely nothing wrong with working for an employer.
We need to stand on our own and we are strongest when doing what we love. But we also need to live in communities and that means tailoring our desires enough so that people are willing to pay us for what we do. You cannot realistically expect to be able to get away with doing ONLY what you love. But if you compromise too much, you will eventually lose the fire that brings great success and great wealth.
Rob
The phrase starving artist was invented for a reason.
He made me realize that people have occupations (what we do to make a living) and avocations (things we love to do).
For those lucky enough, our avocations ARE our occupations, but more often than not - we USE our occupations to pay the bills, and "fund" our avocations.
That meeting opened my eyes and literaly transformed how I saw the world of work. Suddenly, I didn't have to be frustrated about my primary job not always being my passion. I could do what I had to in order to pay the bills, and do what I loved to feed the soul.
As such the value of money was instilled in us from a young age. I will long remember my fathers mantras: 'if you you don't need it, you don't want it, if you can't afford it, you don't want it" 'why give money to the bank?" (talking about interest on credit cards), "Those blighters will rob you" (American banks) and "'what do poor people do?" (when as an adolescent I would want designer clothes)
Although I used to be upset that we only had 1 TV and that it was purchased in the seventies (it finally died 3 years ago and has since been replaced- with a free one my dad managed to get from a friend), that my parents still had all the furniture they bought when they were married, and that we never had the 'cool clothes" or 'cool toys" I was blown away when I reached college age and my dad dropped $300,000 on my education (from BA -PhD) so I wouldn't have any student loans (see comment above about giving money to the bank). He also paid for my wedding last year, and has money put aside for a down payment for when I want to buy a house. As I watch my peers and husband struggle with student loans, I now appreciate why I didn't have an easy bake oven, and squirrel away my money so that one day I can do the same thing for my kids.
International banking interests using debt to manipulate our government and gain control over our money supply ---> Federal Reserve.
What if our world were no longer run by governments... but by international banks? Sound ridiculous? Sound like a conspiracy theory? I challenge you to study it out...
You are 100% brother!
Support Ron Paul's "Audit the Fed" bills!!
Good post Flexo.
- Chelsea (with Quicken)
My parents taught me to pay my bills, and to not spend more than I made. They grew up poor and did not ever know much about money; but they knew how to work hard, so they were able to provide for their kids.
Much of what I have learned about money I have learned through experience, study, and resources such as this; a benefit my parents never had.
The best thing about all of the advice in these ten things is, it is truly never too late to learn. And for younger people, the sooner you learn, the better off you will be.