Motivation

The Best Job

The Best Job To Have

Money Maroon

There is a saying that the best job to have is one that you do not need. I did not believe this at first. For the most part, I viewed this saying as just a cliche. Similar to if you love what you do you will never work another day. But guess what, it is true. The truth is, if you do not need a job, it forces you to do something that you love. Therefore, once you do not need a job, what ever you do will be something that you love. To find and do the best job, you must have a job that you do not need.

Your Early Career

It is highly unlikely that you will love your job early in your career. The fact is, for many of us, the first job serves a very specific purpose. First, to pay the bills and second, to gain experience. For the most part, you do not want to stay in the same passion for 5, 10 or 15 years. To learn and gain experience, a lot of what you  will be doing is grunt work. For your first few jobs, it is likely that you will be doing the tedious and repetitive tasks that those above you do not want to do.

As you gain experience, you begin to do more of the fun things. This could generically be strategy, interacting with clients, or running deals. But with more experience comes more money and responsibilities.

You Can Have Your Best Job In 10 Years Or Less

If you play your cards right, it will take maybe 10 years to get to your best job. If you work hard, save, live below your means and diligently invest, there is a high likelihood that in 10 to 15 years you can be financially free or at least be a good way there. 

Financial freedom brings the best. While it is great to be fully financially independent,  you do not need to entirely have financial independence to get the best job of your life. Imagine the following scenario. You have expenditures of about $50K per year. Over the first 10-15 years of your working life you happen to amass let’s say $500,000. Based on the 4% rule, if you are able to live on $20K per year, you are financially independent. 

Not many folks can live on $20K. But if you have $50K expenditure per year, and have cover for $20K because of the $500K you have, you really need only a $30K per year salary to make your expenditures. Which then means that if you do not like your job, you can get another one that you truly love so long as it brings home at least $30K per year. This is the benefit of having financial independence.

This calculation works at all levels. The more you save and invest, the less you rely on the job you have. Therefore, you can actually do a job that you truly like and be the absolute best at it. Further, with financial independence you have no need to put up with BS from superiors or colleagues. You are able to true do what you love.

Financial Independence

Generally, financial independence is when you enough money to live the life you want without income from a job. If you do not need to rely on a job and you are working, you will only continue to do that job if you actually love it. This is why one of the side effects of financial independence is that then you are able to have the best job.

Think about it. If you did not need the money from your job, would you continue to do it. If the answer is yes, the reason is typically that you actually love your job. You love the people you are working with and the work that you are doing. Here, it is not about the money.

On the other hand, if your answer is no, once you have financial independence or your are close to it, why continue to do work you hate. Quit and find something that you love to do. Life is short, you owe it to your self to spend the limited lime you have on this rock doing something that impacts the world and that you love to do.

Conclusion

There is a saying that the best job to have is one that you do not need. I did not believe this at first. For the most part, I viewed this saying as just a cliche. Similar to if you love what you do you will never work another day. But guess what, it is true. The truth is, if you do not need a job, it forces you to do something that you love. Therefore, once you do not need a job, what ever you do will be something that you love. To find and do the best job, you must have a job that you do not need. Financial independence allows you to do what you love.

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Be Work optional

Be Work Optional And Have The Best Job

Money Maroon

The best job to have is one that you do not need. The reasons are easily apparent if you think about it.  The less reliant you are on your job, the more comfortable you can be in the workplace. When your job is optional, your boss and those above you cannot take advantage of you. If they try, you can simply quit. Essentially, with work optional, you can make ongoing decisions that are in your best interest. If you are an employee, it is important to remember, no matter how much they love you, you are replaceable.

If you do not believe me, consider the rapid layoffs that have occurred in 2022. Think of those twitter employees in 2022. From top to bottom, you are replaceable. Your employment is at the whim of someone else. If your livelihood does not depend on your job, you are free.  Aim to be work optional.

Being An Employee

In the United States, for many, employment is at will. Which means for any reason, the company can fire you. It is that easy. If someone does not like you, you can be replaced. Many companies, to avoid a law suit for discrimination or retaliation, will build a case for removing employees before actually firing them.

When building a case, companies and their agents, yes your manager, will become more vocal against you. All your missteps will be documented. If you are late for a meeting, no matter the reason, it will be noted. Someone does not like your tone, it will be documented. If you disagree with others, the company will view you as not being a team player. You will begin to hear criticisms. The aim here is to let you know that you are not doing a good job such that when you are let go you do not think to sue.

But some companies build cases in a more blatant way. You may have received great reviews previously, and all of a sudden a bad review. That should be a warning signal to prepare yourself. Sometimes, you may have absolutely no contact with your manger or supervisor and they drop a bad review on you. In some of these cases, the managers will actually blame employees for the lack of contact. 

The Elon Musk Situation

You may encounter an Elon Musk situation. You may be in the unfortunate situation where another company buys your employer. Your role may be redundant. In these cases, all your good will and hard work goes out the door. The new owner will view you as a cost center. The point is, if your company wants to get rid of you, they will. 

Protecting Yourself

As life is unpredictable, plan ahead and protect yourself. At least from the financial stand point, the best way to do this is by becoming  work optional. This way, no matter what your boss or your bosses boss decides, you will be ok. 

If you lose your job today, how would your life change? If you have a family, this is a question that you should be thinking about often. Do you have enough in an emergency fund? How far are you away from financial independence? Instead of rushing back into a job that you may not like, can you take your time and find something that you like to do? Another question is, was your job optional.

Work Optional

Work optional is another way of noting that you are financially independent. By being financially independent, you can work if you choose to, or not. You are work optional. If you have a job, the job is optional. If you happen to be fired, you can pick up your things and graciously exit your job and sit at home if you need to. Strive to be work optional.

Conclusion

The best job to have is one that you do not need. The reasons are easily apparent if you think about it.  The less reliant you are on your job, the more comfortable you can be in the workplace. When your job is optional, your boss and those above you cannot take advantage of you. If they try, you can simply quit. Essentially, with work optional, you can make ongoing decisions that are in your best interest. If you are an employee, it is important to remember, no matter how much they love you, you are replaceable.

If you do not believe me, consider the rapid layoffs that have occurred in 2022. Think of those twitter employees in 2022. From top to bottom, you are replaceable. Your employment is at the whim of someone else. If your livelihood does not depend on your job, you are free.  Aim to be work optional.

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praying for student loan forgiveness

Is Student Loan Forgiveness Fair?

Money Maroon

It does not matter how much is forgiven and it really does not matter the reason. Forgiving student loans is a divisive issue. There is one main group that will directly benefit from student loan forgiveness. This group includes those for whom student loans are forgiven. On the other hand, there will aways be a number of groups that will be aggrieved. This group of the aggrieved includes at least those who have paid off their student loans, those who never took out student loans and those who did not have the opportunity to take out student loans because they did not attend college.

Student Loan Forgiveness

There is a student loan problem. Some students were victims of predatory lending from opportunist institutions. In some cases, students were given loans and then obtained worthless degrees. In some cases, the institutions were not up to par academically. For some, the college was closed down and students were stuck with student loans but no degree. For others, student loan terms were not clearly explained and students now owe more than they borrowed. In all cases, for those affected, it is likely that they are stuck with a mountain of student loans and no true path to ever pay off the borrowed amount plus the accruing interest.

On balance, should these students have done their due diligence? Should these students have read the fine print and better understood what they were signing up for? Also, should there have been more government oversight to prevent institutions from selling these subprime student loans to vulnerable students? Something to think about.

Students Who Paid Back Their Student Loans

There are some students and adults who have now paid back their student loans. Essentially, they made it a priority to not take out more than they needed during their school years. Many of these individuals did not attend their dream school because of the cost. Instead, they settled for a less expensive option. They may have also worked extra jobs. Some did not take fancy spring break trips while in college. Others have forgone buying nicer homes or cars. Instead of spending, these students were cost conscious. They buckled down and payed back their student loans.

How would you feel if you were one of these students when you hear of others getting student loan forgiveness? You will likely feel robbed. You have made the sacrifices and paid back what you owed. Now, you are being penalized for your diligence, being proactive and responsible. Would you view this a being fair?

Students Who Did Not Take Out Student Loans

Let’s face it, we live in an unequal society. There are a group of students who attended college and did not have the need to take out student loans. This could have been a result of their parents saving over time and allocating funds specifically for college. For others, their parents were in the position to pay their tuition as they went through college. Still, there are many who simply worked during college and were able to make enough to pay their costs or obtained scholarships.

For those who prepaid for college, those who worked multiple jobs to pay their tuition, and those who studied and obtained scholarships, how is student loan forgiveness viewed? Will they view student loan forgiveness as a penalty? Why work hard during college and forgo all the parties, why prepay for college, why work hard and obtain scholarships when the student loans will be forgiven anyway? 

Those Who Did Not Attend College

Of the groups that will likely view student loan forgiveness in a bad light, those who did not attend college will likely be the most upset. They are the most likely to be upset because as tax payers, they may view student loan forgiveness as paying for something they did not have the opportunity to part take in. These individuals are essentially paying for someone else’s college education or mistake. They may also see student loan forgiveness being applied to college educated citizens as causing a further divide between the have and the have nots. Some who will be helped by student loan forgiveness, where they attended reputable colleges, may end up earning more than those who did not attend college. So in effect, as a tax payer, those who did not attend college would be further subsidizing these individual’s lifestyle. For many, this will be viewed as being unfair. 

The Greater Good

No matter your stance on student loan forgiveness, one thing to consider in this student loan forgiveness debate is the greater good. Will forgiving a portion of student loans help the overall society in general terms. If citizens are not buried by student loan payments, will this translate into increase economic activity as more funds will be available to spend. If this works perfectly, all of society will benefit. However, will this affect personal responsibility and the motivation to live within ones means if there is a possibility that your debt will be forgiven?

Whatever the decision with regard to student loan forgiveness, one thing is for sure, the debate will continue.

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Video Summary

I quit, quit your job

Quit Your Job And Get Another One

Money Maroon

As the great resignation has shown, it is ok to quit your job. Unsurprisingly, while some has stayed out of the labor market, many are quitting their jobs to get a new one. Some are moving laterally in the same position while others are getting higher positions. Some are getting better benefits or a better working culture. The move to another job is not really all that surprising because guess what,  people have bills to pay. If you are planning on quitting your job, do ensure that you are looking ahead and planning out what the future holds. For example, how will you support yourself?

Quit Your Job

In the United States, it is very easy to quit your job. Simply, say that you quit and do not return. That it is. It is customary to give a few weeks notice when you are quitting. But legally, you are really not requited to do so. This curtesy is such that you can wrap up your work or transfer your work to another colleague. Giving notice also provides your employer with some time to replace you. This is critical if you are an important member of the team. The curtesy also for the most part allows you to maintain certain relationships with work colleagues. Remember, do not burn bridges as you do not know where you will be in the future.

This works the other way as well. Most employment agreements in the United States are at will. As such, your employer can fire you anytime and the employee can quit anytime.

In other places such as Europe, quitting your job is really a few months in the working.  With strong worker protection laws, it may take a company 6 months or more to fire you, and maybe just as long for you to quit. 

When quitting your job, even if you have the most horrible boss, try your best not to completely nuke your bridges. Meaning, you may not like your boss, but there may be others at the company that you may want to maintain relationships with. Act accordingly.

Before You Quit

It may sound like a great idea to quit your job. Yes, you will finally stick it to your boss and leave. With a replacement not being able to fill your role, your hope is that they will recognize how under appreciated you were. But before you make that final decision, ensure that you have thought about what the future holds. It would be great if we could all quit our jobs and not work another day in our lives (financial independence). However, this is not usually possible. Typically, once you quit your job, you will need to find another one. The high of finally saying I quit can be easily overtaken by the fear and trauma of not being able to pay your bills and support your current standard of living.

It is advisable to find a job before you quit your job. It is much easier to find a job when you have a job. Further, because you do not need a job you can effectively ask for exactly what you want. Because you are not completely dependent on getting that new job. Essentially, you have options. So begin your job hunt early and ask for the salary and benefits that you want. The worst that a prospective employer can say is no.

Once you have lined up that new job, go ahead and quit, if this still is the correct decision. Of course, it is important to ensure that the new job is better that the old job. It is very difficult to make this assessment as you will likely be in the dark with regard to certain information about the new job. Is your new manager better than your old/current manager? Is the company’s culture better? What is your progression and development opportunities? There are a lot of unknowns and you must do as much research as possible. Information is the key here.

The Grass Is Not Always Greener

In your job hunt, if you happen to obtain an interview or is reached by a head hunter, do understand some very simple facts. It is in the head hunter’s best interest to get the role filled. As such, not all, but some head hunters will misrepresent the job. This is because once you begin to invest the time in the interview process and begin to picture yourself leaving your current role, it is a lot easier for you to move on.

Therefore, no matter what the situation, do not be afraid to ask the hard questions with regard to salary, benefits, environment, culture, promotion and what the future of the company is. Do your due diligence on the company. Do your due diligence on the role. If you are applying for a role that have high turnover, you may want to ask about this. Try to find who the last person that had the role and ask why did they leave. They will give you answers. Check and see if you know people who work at the company and ask them about the company. They typically do not lie. Get information and make an informed decision.

Know Why You Are Quitting

As the grass is not always greener, know why you are leaving your current job. Know what you and your family need to be happy. If it is culture, ensure that your new job has a better culture. If it is all about the money, ask for a higher salary. But ensure that you know why you are leaving and what your ultimate goals are.

Conclusion

As the great resignation has shown, it is ok to quit your job. While some has stayed out of the labor market, many are quitting their jobs to get a new one. The move to another job is not really all that surprising because guess what,  people have bills to pay. If you are planning on quitting your job, do ensure that you are looking ahead and planning out what the future holds. For example, how will you support yourself?

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Not getting The promotion

You Did Not Get The Promotion, Now What

Money Maroon

At some point in our lives, if you are an employee, a worker for pay, you will miss out on a promotion in view of someone else. This other person may be a current coworker or someone from outside the company. In either case, it will leave you wondering, why. Especially if you believe that the person receiving the promotion is less experienced and/or less qualified.

Be Graceful

Once a promotion has been given to another, congratulate that person. Rise above your feelings of disappointment and be professional. No matter how you may be feeling, your reputation matters. Do not come off as unprofessional or as someone who do not know how to deal with disappointment. By not being graceful or lashing out because you were passed over for a promotion, you may be confirming that you are not mature enough for the role. Be graceful, even if it is difficult.

Evaluate Why You Did Not Get The Promotion

If you missed out on a promotion, you will be hurt. This feeling is normal. It does not matter whether or not you really wanted the position or not. Just being rejected will have an effect. While you may be hurt, you must try to be objective. Was the chosen person better for the role? Where you misled about what is required for the role? Do you think that you were treated unfairly in any way?

If in the end you were objectively not the best person for the position, if you really want this position, it is time for you to add to your skillset. Work toward a direction that will get you where you need to be.

On the other hand, if you were truly the better person, find out why you did not get the role. Is there a bit of favoritism or some other isms at play? Did you have the credentials, but others did not believe that you were qualified or ready? If this is the situation, it may be time to begin advocating for yourself. Begin to show who you really are and what you know. At times, the most qualified person may not get the position. The role typically goes to those who promote themselves. Lots of idiots have been promoted because they know how to play the game.

Ask For Feedback

Ask for feedback. If you did not get a role that you believe that you are qualified for, ask for feedback. Note that most managers are terrible at giving feedback, so try to read between the lines. At times, when you ask for feedback, your manager may justify the case for the other person being promoted, without actually giving you the feedback you asked for. So read between the lines. 

Some managers will provide adequate feedback and provide a roadmap to being promoted.  This rarely occurs, but it does. When you have such a manager, you are very lucky. You are more so lucky if the roadmap provided actually leads to a promotion.

Some managers will flat out tell you that you did not get the promotion because you are needed in your current role. If this happens to you, it may be time to leave. It essentially means that you are too good at your job. The company is not incline to promote you and train two people to do your work, when they can simply keep you at that position.

Some managers may even say that you will be up next or there was a business need for a specific skillset or there will be more opportunities in the near future. It will really be up to you to believe if this is truly the case or not. Many employees have been strung along in the past with the promise of a position opening up or an opportunity that is just on the horizon. Be careful in how you approach these promises. Many times, these promises are only lip service for you to calm down and to move beyond your disappointment.

Review The Landscape

In your evaluation of why you did not receive the promotion, review the landscape. Were you best placed for the role? For example, were you told not to apply, encourage not to apply or told that there are certain requirements but then the chosen individual did not fit the announced requirements? There could be more at play here.

Take a step back and look at the individuals in the role that you did not receive. The requirements posted about the role may just be a preference but not really a requirement. The most important characteristics may not actually be posted. By looking at who previously occupied the role, or who currently occupies that role, you can gain a lot of information. 

Some corporations have a certain type that is elevated to certain positions. That may be education level, select schooling, sex, race or demeanor. When you look at the role you missed out on, do you fit? This is a real question and you must be honest with yourself? If you do not fit the role, it may be time to leave as it is unlikely that you will ever be elevated to that position.

Improve Yourself

If you received a road map that will lead to a promotion, if you believe that the recommended action would lead to a promotion, follow that path. Also, seek to improve yourself for the job you want with your current company but also for another company. Work to improve yourself not only for a promotion but also to better yourself. Take additional classes in an area. Volunteer for new assignments. Work across departments. Make your resume the best it can be for your future role or new job that you may be interviewing for in the near future.

Didn’t Get The Promotion, Leave!

If you believe that you were wronged, or you see your non promotion as a pattern of activities, begin your task of leaving. Many times when we work for a company, we may hear stories and rumblings of who is being promoted. It may not bother you at first because it was not affecting you, but once it affects you directly, you may see things a bit differently. If you are in this situation, know that this is how your company works, and they will likely not change. As such, it may be time for you to leave.

This does not mean announcing that you will leave or making an ultimatum. Simply prepare your resume and improve yourself. Over the next few months, keep an eye on job openings and apply. When the time is appropriate give your two weeks notice and move on. There is no reason for you to stay in a toxic environment. Especially if your non promotion begins to impact your mental health.

At times, once you give your two weeks notice, you may be offered a higher salary, you may even be offered a new role. Whether or not you stay at your current company or leave is up to you. But note and keep in mind what it took for the company to come up on your salary or offer you the new role. You had to threaten to leave. Will this be required going forward? This also does not bode well for you when times are hard and the company performs a reorganization to cut headcount, it is highly likely that you will be cut.

Conclusion

At some point in our lives, if you are an employee, a worker for pay, you will miss out on a promotion in view of someone else. This other person may be a current coworker or someone from outside the company. In either case, it will leave you wondering, why. Especially if you believe that the person receiving the promotion is less experienced and/or less qualified. In these situations, be graceful, evaluate why you did not receive the promotion, ask for feedback, improve yourself and if necessary, leave.

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Video Summary

Nerds run the world

Why Nerds Run The World

Money Maroon

Look around, think about who is making all the calls, then look behind that person. Typically, it is a nerd. For starters, look at the richest persons in the world. Look at the most powerful countries in the world, advances are made by nerds. Politically, whether you agree with one party or another, they are funded by nerds on both sides. The fact is, while there may be debates on the value of going to college, there is no doubt that nerds are running the world. Further, as we are in the computer age, nerds will continue to do so. Crypto and the metaverse are only recent examples of the power of being a nerd.

The Cool Kids

There is a saying, “he who laughs last laughs best.” For those who are intellectually gifted, this is certainly true. Cool kids have fun early in life, but it is the nerds who excel as adults. Whether your are the sports star or the cool kid that connects well with others, your early social years will be great, primarily in high school. However, for many cool kids, this will be the height of their influence. For nerds, high school is typically the last years of hell. Once high school is over, the world opens up, because intellect is valued.

Nerds

Let us look at the richest people in the world. Warren Buffet, Bill Gates, Jeff Bezos, Elon musk, they are all nerds. The fact is, they are at the cutting edge. They are coming up with new ideas and inventions that revolutionize the world and have in turn made them very wealthy. As is often true, money is power. With their monetary power and position, nerds are able to influence every part of life.

It is this wealth that is being used to run the world. When you have billions of dollars at your disposal, your pet projects are very impactful. Whether this is to go to space or to create a foundation to pursue a specific purpose. With funding, what is important to you become important to others. Your dreams shape the world that not only you live in, but that we all live in.

Crypto is one of the newest examples. Let us think of bitcoin that only a few years ago was worthless. Today, there are many different crypto currencies and this invention has made many millionaires. For the most part, crypto was invented by nerds and has become mainstream, making many ridiculously wealthy. We also now have NFTs, which are being sold for millions and let us not forget about the newly created metaverse. As the computer information age pushes on, nerds will continue to dominate.

Political Reach

Nerds are not only successful in the business world, but also the political world. A lot of those in political power today were not well adjusted in their earlier life. Yes, they were and still are nerds. But even if some of today’s political figures were well adjusted, look at who these politicians take their direction from. They take their direction not from the masses, but from the wealthy who are likely to be nerds. To run political campaigns, you need money. As noted above, who have the money? Nerds through their business successes have plenty of discretionary income to donate and shape the agenda of every political campaign. Even when you look to todays sport stars, look at who are employing them. Nerds are the owner of sport teams, sport arenas and are the bosses of the jocks you watch in amazement.

Why are they so successful?

Nerds flex their brains

Reasons

Not being in the in crowd have a lot of advantages. You read that correctly. Not being popular can be an advantage in life. It teaches you important lessons in survival and how to be self reliant.

The fact that many nerds are not in the in crowd allow them to spend more time working on their dreams. Nerds have more time to be themselves and know themselves because they do not have to succumb to social norms. They are essentially able to figure out who they are and what they are good at and just do it. Nerds have the freedom to become experts in the difficult, the new and the cutting edge.

Further, most nerds find comfort in knowledge. So not being invited to all the parties or social activities give nerds more time to hone their skills, in this case knowledge of a subject. They become masters of a subject area. Once they are masters of a subject area and confident in their skills they are motivated to show the world.

Because many nerds have been ostracized or physically intimidated, they operate with a chip on their shoulder and have a competitive drive to prove and show how good they are. All this leads to people who are very confident at what they do once they find that thing. Often times, these nerds are some of the most ruthless individuals that you will come across. They strive to be the best and often times, do not accept failure. Think of Elon Musk, Steve Jobs and Bill Gates.

These are some of the reasons why so many nerds have achieved the highest of business success, amass billions and strongly influence our every day life. 

Conclusion

Look around, think about who is making all the calls, then look behind that person. Typically, it is a nerd. For starters, look at the richest persons in the world. Look at the most powerful countries in the world, advances are made by nerds. Politically, whether you agree with one party or another, they are funded by nerds on both sides. The fact is, while there may be debates on the value of going to college, there is no doubt that nerds are running the world. Further, as we are in the computer age, nerds will continue to do so. Crypto and the metaverse are only recent examples of the power of being a nerd.

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Video Summary

Friends

Friends Influence Your Success And Wealth

Money Maroon

Show me your five closest friends and I can provide a very accurate description of you. The fact of the matter is that the friends we have not only tells us who we are generally. Our friends influence who we are and who we will become. Yes, those closest to you will impact who you will become. Peer pressure  in proximity is strong, so is the influence of mentors and leaders. Choose your friends wisely because they will influence not only your career success but also the wealth you will attain in the future.

Friends

We may deny it, but those around us have the power to influence us. We are constantly picking up on cues from those around us. These cues subconsciously inform and shape our behavior. These behaviors over time become habits, and our habits determine who we become. The influences of our friends are not only behavioral. Who we have around us affect our world view, the way we think and the way we feel about ourselves. As such, our success and in a sense our wealth in life will come down to the people we choose to spend our time with.

Think for a second about the company kept by your financial heroes. Now, contrast this with the financially illiterate and those living on the edge. The friends kept by these two groups are diametrically oppose.

At this moment, consider who are your closest friends. Think of their attributes and how these friends have affected your life. What habits do these friends have that you want? Also identify attributes that you do not wish to adapt? Mostly, do you need new friends? 

Success

To be successful, be around successful people. If you want to be in shape, hang out with those who are healthy. If you want to be happy, surround yourself with happy people. We become those who are around us.

If you want to build wealth and become financially independent, do not have a circle of people around you who are struggling and lack financial discipline. Instead, associate yourself with positive, focused people. Be friends with those who are committed to constant improvement and the pursuit of the best in life. Have friends who will facilitate your journey to wealth and financial independence.

Choose Your Friends Wisely

Remember, while you may not be able to choose your family, you do choose your friends. To be friends with another person, you must agree to have this individual in your life. And while the decision to cut people out of your life may be difficult, tough decisions must be made for you to achieve your goals. 

Be the CEO of your life and demote or fire your friends as needed to achieve your goals. If not, do not be surprise when your ambitions, goals and position in life are at the same level as those around you.

Choose your friends wisely

Conclusion

Show me your five closest friends and I can provide a very accurate description of you. The fact of the matter is that the friends we have not only tells us who we are generally. Our friends influence who we are and who we will become. Yes, those closest to you will impact who you will become. Peer pressure  in proximity is strong, so is the influence of mentors and leaders. Choose your friends wisely because they will influence not only your career success but also the wealth you will attain in the future.

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Retirement plan

Do not Become Someone Else’s Retirement Plan

Money Maroon

No matter how hard you work or how much money you earn, you are only a few bad choices from finding yourself in the poor house. Sometimes, the decisions that we make are in view of perceived obligations. For example, many financial decisions are made in view of obligations to family and friends. On your path to financial independence and early retirement, do not become someone’s retirement plan.

Focus On Your Retirement Plan

As the statement goes, put on our oxygen masks first before the person next to  you, including family. This also applies to your plans for retirement. You may be able to make head way in saving toward your retirement by living below your means, saving, and investing. However, it is also easy for a family member or two to constantly ask, manipulate or steal what you have saved. The stories are easily available if you perform a simply search, and should serve as a warning.

What Is Yours Is Theirs

There are so many stories of an individual or a nuclear family making progress by living below their means, saving and investing over time. As this family rises and increases their wealth, it is only natural for families and friends to notice, and notice they will. We can try all we want to hide success, but others will notice how you live your life. While you may try to be the millionaire next door, your close family knows better. While you may drive the standard car and live in a standard house, your family will be well aware of your job and will likely have researched your salary. It is only a matter of time before assumptions are made with regard to your wealth. With assumptions, it is common for others to begin to think that what is yours is also theirs.

As knowledge of your life is shared by family and close friends, you will be seen in a different light. When financial hiccups occurs, you become their bank. If they are having issues with housing, they will show up at your door. If you do not take steps to stop the initial requests or actions, you will pay for it later.

Of course, the proximity to family and friends will matter. The closer you are to those with a specific personality type, the faster the devolution into others thinking that what is yours is theirs. The further away you are, the less interaction and the less issues you may have.

Blocking retirement plan
Do not allow others to block your financial flow

Reason Does Not Matter

It really does not matter if you and others all had the same opportunities. It does not really matter if you choose to live below your means while others live it up. You may sacrifice all you want to maintain your life and that of your family, but it is simply human nature for those around you to think and believe that what is yours is also theirs. Especially when others believe that you have more than you need or that you do not deserve what you have.

What To Do

The fact is, you must learn to say no. You cannot become someone else’s retirement plan. You must stand up for yourself and your family. Others may claim that you are mean, but you must put your oxygen mask on before others. You cannot find yourself bank rolling other peoples lives, especially if these individuals do not understand how hard you have worked for what you have. 

It is all around us. Others have nice cars, vacations and homes that dwarfs the size and costs of yours. However, these are the first to reach out for aid and have a deep seated belief that what is yours is theirs. When times are hard, why do you have so much and they have so little, even though when times were good they had more than you and in effect wasted it.

We are not saying that you should be selfish and not help others. Help others and give. Success is not achieved alone and in isolation. What we are saying is, know what you are doing. Know the consequences of your actions. Know what saying yes today will mean for tomorrow. Do not become another person’s retirement plan. Know when to say no.

Conclusion

No matter how hard you work or how much money you earn, you are only a few bad choices from finding yourself in the poor house. Sometimes, the decisions that we make are in view of perceived obligations. For example, many financial decisions are made in view of obligations to family and friends. On your path to financial independence and early retirement, do not become someone’s retirement plan.

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Back to school

Back To School And On The Money

Money Maroon

It is that amazing time of the year again. Each year, we all enter this phase of transition from summer to fall. As the leaves change, so does our routine. Here comes the back to school rush. Throughout the country, the months of August and September play a seminal role in getting the school year started. With this transition comes the expenses of new school gear and traditional school supplies. Do not forget about the disruption to your typical schedule and the added traffic of school buses and frantic parents trying to get their children to school. Yes, back to school here we come. But do not allow the new school year to affect your financial goals.

Back to school
Keep your eyes on your financial goals

The Relief And Stress Of Back To School

For parents, it is that time of the year where life becomes less stressful in some respects, and more stressful in others. In one aspect, the kids are out of the house (covid permitting) and you know where they are. They are being housed in a school for at least about 7hrs. The kids are also being kept on the education treadmill of learning and developing new social skills. 

On the stressful side of back to school are the expenses of extracurricular activities and the friends that that your child will make and who will have influence over time on their lives while you are not there. For their friends, you as a parent has to establish your home, what is expected of your children and that should guide them. On the expense side, it is also your choice.

The expense associated with your child’s activities is a choice that you are making. You are the parent, it is not your child’s choice, it is yours. If you sign your child up for an expensive sport, do not complain, it is your choice. If you have to leave work early to attend an event, again, it is your choice. When you are making a decision to live within your means, save, invest and grow financially, your kids are apart of your house and how you allocate funds on their behave will significantly influence if you will achieve your financial goals.

Just Starting Out

From kindergarten to 12th grade, you as the parent are generally financially responsible. After that point, the guide rails are gradually taken off. For those with kids going into kindergarten, on a financial level it may be your first introduction to the early school supplies which at this point may include clothes, shoes, and electronics. But for many on the financial front, this is a blessing. Gone are the days of paying for private pre K which can cost more than $20,000 per year. Now you may have public schools to contend with that are free if you are not continuing with private education.

This is not the time to find a place to spend the funds that you had previously used for pre-k. Now is the time to find new investment opportunities, save and build wealth. This can be in the form of investing in the stock market, saving to fully fund your emergency fund or continuing to use the money for your child by having a 529 plan or something similar. Now is the time to save, because if your child pursue higher education, you will pay one way or the other.

If you are continuing with private education, then you will be spending more as you move from pre K to kindergarten. It is not uncommon for such cost to come close to or above $30,000 per year. If you have made the decision to enter private school, it is a choice that while expensive it is one that can be beneficial to your child based on where you are located. However, be mindful of the expense as it accumulates over years.

Returning To School

If you have a child who is returning to school, they will likely be thrilled. Thrilled because they are heading back to school after spending the summer with you. Now they get to jump back into the routine and to see their friends. By going back to school, they are essentially returning back to their lives. For children in this category, back to school is something that they have been looking forward to all summer.

But even for you, it is important to keep an eye on the expenses. Again, if your child is returning to private school, ensure that the expense fits within your plan. If your child is returning to public school, be mindful of the environment and opportunities that they are returning to. Whether public or private, pay particular attention to the extracurricular activities that your child will be involved with and the related cost. You want a developed adult at the end of the journey, but not a situation that will put you in financial difficulties for the future.

What ever the situation that you find yourself in this year, do not allow this transition back to school to take you off your financial path. If financial independence is your goal, maintain this goal and live below your means, save, invest and repeat.

Conclusion

It is that amazing time of the year again. Each year, we all enter this phase of transition from summer to fall. As the leaves change, so does our routine. Here comes the back to school rush. Throughout the country, the months of August and September play a seminal role in getting the school year started. With this transition comes the expenses of new school gear and traditional school supplies. Do not forget about the disruption to your typical schedule and the added traffic of school buses and frantic parents trying to get their children to school. Yes, back to school here we come. But do not allow the new school year to affect your financial goals.

Follow me on Twitter @JoToFI_com

Follow me on Instagram @JoToFI_com

Stay positive

Stay Positive And Being Positive

Money Maroon

It is amazing how much better our days are when we stay positive. It is simple, when you give off good vibes/energy, it is likely to return to you. Just think of how a smile will almost always be responded to with a smile. On the other hand, with a frown, you will likely get a reciprocal emotion in return. Achieve your goals and impact those around you by staying positive.

Staying Positive Is Not About Ignoring Reality

When you are being positive, it is really not about ignoring reality. The fact of the matter is, life is happening around us. While there are a lot of bad things on going, there is also the good. Here, we are not saying that there is always a bright side and that the worst of an event should be ignored. What we are saying is, stay positive, while acknowledging the not so pleasant part of life. 

It is important to understand the things that we can change and then take action to change these things to favor what it is that you are trying to achieve. Be present for what is taking place around you but stay positive and maintain perspective.

Stay positive, be positive

Staying Positive Is A Choice

No matter what is happening in life, it is your choice whether or not you will stay positive. Take as an example being cut off by someone on the road. Yes, the first reaction is to get angry, be upset and as it is common for many of us to pull up next to the person that cut us off to show our displeasure. Others may take it much further and that is where we see episodes of road rage. The above was all a choice. The decisions that we make have a direct impact on our lives and the lives of those around us.

Let us approach the above situation differently. Following being cut off, you could choose to stay positive, be thankful that you did not get into an accident and continue on your way. Note that being cut off is only a few second of your day. You have so many more thousands of seconds in this day. Do not allow an action by another to ruin the rest of your day or your life. It is really your choice. 

Stay Positive  And Create Opportunity

Have you realized how difficult it is to be creative when your mood is in the gutter. If you accept that there is no way out of a situation or dwell on the worst of a situation, you will never be able to lift your head up to see all the opportunities. It is only when you stay positive and keep perspective, that you are able to fully appreciate the entirety of a situation and be able to formulate a plan to take advantage of what is available.

In some instance, instead of focusing on what you do not have, focus on how lucky you are to have what you do. Then go and make use of what you have to exploit the opportunities present. Further, do not focus on your failures, learn from them. Stay positive and learn where things went wrong and adjust your strategy and approach accordingly. Stay positive and see a learning opportunity in everything that occurs in life, good or bad.

Your mind is a powerful tool. If you stay positive, you not only affect those around you, but also those around those who are around you. One person does make a difference, choose to be that difference. Start by having a positive attitude.

Conclusion

It is amazing how much better our days are when we stay positive. It is simple, when you give off good vibes/energy, it is likely to return to you. Just think of how a smile will almost always be responded to with a smile. On the other hand, with a frown, you will likely get a reciprocal emotion in return. Achieve your goals and impact those around you by staying positive.

Follow me on Twitter @JoToFI_com

Follow me on Instagram @JoToFI_com