Due to the education background, i’m aware that it is essential to building a security income for the future. Therefore i started working part time since young and save money for the rainy days. Of course i also like to go for travelling and enjoy good food with my family once in awhile. Currently i’m planning to maximize my existing reserve to passive income or higher returns. It will be awesome if you could provide me with some good advise :)
Capitalist class (1%) Top-level executives, high-rung politicians, heirs. Ivy League education common. Upper class (1%) Top-level executives, celebrities, heirs; income of $500,000+ common. Ivy league education common. The super-rich (0.9%) Multi-millionaires whose incomes commonly exceed $350,000; includes celebrities and powerful executives/politicians. Ivy League education common.
I’m not a teacher. So what? While you may think side hustling is a no brainer, I’m not sure that’s the first course of action I would take if I were following another career path. Many careers not only reward performance with raises and bonuses, they also let you negotiate your salary. While I know not every negotiation is a success, I also know that none of them are if they don’t happen. If you find yourself feeling stuck at work, though, then it might be time to pursue a passion project that allows you to capitalize on a talent or an interest while still paying you a reasonable amount for your time. Basically, don’t give your time away for nothing or next to nothing.
Someone does not have to lose for someone to win. That is called gambling. An example; let’s say you go to a bank to borrow money to start a bakery. You bake a lot of cakes for a lot of weddings. Your customer wins because you baked an awesome cake for there wedding, you win because you got there money, and the bank wins because they got there money back with interest. Also, the bakery bought flower for the cake so there supplier wins, the supplier bought it from the distribution center who wins, the distribution center bought from the manufacturer who wins, the manufacturer bought from the farmer who wins. Everyone wins. Even the government who collected taxes on every step above won.
I, too, work in an industry with salaries that are tied to budgets and salary cohorts. But I have found that side hustles, both in and out of my field, help to increase my income. It is sad that we have to give up even more of our time to get there, but I guess the sacrifice makes the reward even more satisfying??? In any case- thank you for sharing your journey, your goals and your insights. It is comforting to me to realize that there are others in my circumstances.
That is a good point. Unfortunately some people don’t “know how to be rich”. A financially literate person(Warren Buffet, Carl Icahn, Bill Gates, etc.) can turn $1 million into $1 billion by living within their means and only spending substantial amounts on productive assets, whereas others will blow it on anything they see and end up more in debt than they started(think MC Hammer.)
I also worked my ass off during high school, went to a public university with enough AP credit to graduate in three years with an English degree (gasp!) then received a Master’s in journalism (double gasp!) that costed next to nothing, because I moved back home with my parents and didn’t have to divulge their income on the FAFSA for a graduate degree. I went into tech marketing and was making six figures by the time I was 25.
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I saw that and sort of snorted at the similarity between that and working in the arts and then laughed out loud when you wrote “we’re not artists, for Pete’s sake.” I have no idea why people think that noble or creative jobs are a reward in themselves. We all still have the same base expenses in life. If you’re working 40 hours a week in a job that provides any sort of value, you should be able to cover them.
This literally changed my life… I moved out of my parent’s house (sigh) into a nice studio in downtown Denver, bought my first car (a Mercedes c300), adopted 2 kitties, and my credit raised 45 points. I also donated $3,000 to Red Cross at Hurricane Harvey. I’m a humble dude but in affiliate marketing, the numbers do the talking. So… I want to show you how I did it :)
I searched on Google to find a way to make money as an affiliate marketer. This website is well-constructed and you spoke very clearly. You laid the foundation down for most people to understand, if they have basic reading skills. I never knew how to create a landing page until I came on this site. A whole lot is what I’m learning from this website of yours. Great Job!
Well, things got expensive. Starting with taxes, we lose about 30 percent of our paychecks to state and federal dudes like FICA and Social Security. Before you go asking “Who’s FICA and why is he getting all my money?” remember that taxes go to good things like roads and bridges (or at least they’re supposed to) and also to paying for incomes when we get old and can’t work. But still, that bite off the top stings a bit.
p.s the mechanics of this particularly industry is old hat for me, and historically I’ve built multiple 7 figure net profit businesses using old tech like ‘telesales. I’m interested in SEO because I just think that cold calling and interrupting people is just inefficient and SEO sounds/feels like a really good way of giving people the information that they are searching for without bugging the s&1t out of them.
I sometimes question choosing a career that was safe and paid well over chasing my passions. In a way, it comes down to passions now or passions later. If you earn big and save you can FIRE and the start your passion work then. Or you can be working on your (presumably lower paying) passions all along and wait until a more traditional age to retire.
For policing in the media, it’s something I’ve been covering often in my blog. Some situations talk about themselves with body cameras. Officers make mistakes. Other times there is no mistake, but it “looks” bad even if fully justifiable. Other times it’s fully justified to those with a legal grounding, but the public is shocked. Hopefully without offering platitudes everything officers do are on the table for observation. Regardless of the current issue, if someone calls, we will show up.
I could talk about unions forever, Alice! I didn’t in this post because I didn’t want to get too lost in the weeds for people who aren’t part of the profession. My parents are both retired union workers, and I will be part of a union for as long as I can be. Sadly, the right-to-work nonsense is rubbing off, and we just got a letter from our union saying that it is now optional to be part of a union. I have to be honest and say that teachers’ unions (at least in our area) aren’t what they used to be. But as long as I can, I will fight for mine. So glad you spoke up, Alice! Your building is lucky to have you!