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Finance

The Most Widely Held Intention

If you keep intentions without actually studying them in detail, you will be disappointed with the outcome.

Lets look at such an example, one that’s commonly held such as “All I want for my Timmy is a good education that will land him a high-profile job in a lucrative career with which he can live happily ever after.”

Lets analyse the keywords highlighted above.

Good Education

I have a Baa.Tech from Indian Institute of Technology.

“Good” sounds awfully vague. Are there schools that offer bad education? Oh wait!

All of them.

Say we hypothetically find Timmy a good education, where he learns about the sciences, philosophy, history, finance and literature, would he really need to go to college?  If you’re educated, it means you have the knowledge and skill to start something on your own and live off its income.

He could monetize his understanding of literature by starting online courses and teach it, or he could start writing and publish his own books. If a seven-year-old girl named Ariana Jalia, published three books; first of which was at age three, string together a series of poem and start her own online store, then why not Timmy?

This seven year old girl has achieved more than you or I ever will.

High Profile Job

I’m a chartered accountant, here to Baa-lance your budgets.

Not everyone is born with a silver spoon in their mouth, or heir to the royal family that swims, bathes and goes scuba diving in oceans of petroleum. We get jobs to make ends meet, and splurge whatever’s leftover on expensive toys, trips, accessories and alcohol to distract ourselves from our misery, while the rich are busy getting richer as they race across the horizon on their yachts with a couple of bikini models on board.

We don’t want jobs; we want the yacht full of bikini models. We’d prefer spending our days counting all the millions we could have potentially amassed; were we bold enough to venture out into the open and develop our passions to such an extent we could monetize them.

For most people, getting rich translates to working for major enterprises that offer to them what seems like F-you money. They search for the biggest waterhole and take up residence there, hoping it never dries out. Maybe it won’t but when you open up a water theme park, you’ll require gallons of water to keep it functioning. When you earn a certain amount, your lifestyle will reflect it. To keep that waterpark of yours flooded, you’ll rely on that one waterhole to constantly fill it up.

You are entirely depended on that one waterhole for your livelihood.

Bah! Its not like we needed all that water. We can always build ourselves a sand castle and rule over the barren land.

Also, the higher paying jobs are “higher paying” because of the responsibilities those positions hold. People aren’t going to fork out large sums of cash for a janitor to stay because they are easy to replace, and hold no significant value that could immediately impact the organization. That is not to say that the janitor is useless, he keeps the place spick and clean. It just that it requires no specialized knowledge to clean windows and mop floors. Anyone can do it.

Making important decisions such as stockbroking requires shrewdness and experience. No one will consult a janitor over those matters.

“Gee I dunno, maybe instead of buying those stocks over, why don’t we give it to the staff and increase their salaries? Couldn’t we give some of those millions to charity I mean come on! What do we need all that cash lying around for! A little bit of altruism goes a long way ya know. Welp, back to mopping.”

And those types of job aren’t 9-5 with weekends off. Most of them are a full-time, hands on job with no breaks, running into the 70-80 hours per week working hours. Some are capable of handling them, but most don’t want that. What most notice are the salary and benefits that come with high profile jobs. The don’t see the workload hiding beneath all those benefits.

Lucrative Career

Welcome to the rich side, lamb.

A career is the field you’ve decided to occupy. Lucrative is F-you money that everyone craves for. Here’s where the illusion shatters, revealing the depressed janitor who could have made it as a stockbroker, were he smart enough to say “Buy them stocks baby”. Anthony Robbins who is a famous motivational speaker and a self-made millionaire, worked as a janitor in his early days. He made maybe around 40 dollars per week, and used whatever time he had after working to study the work of successful men. That’s what allowed him to leave his job behind and become an entrepreneur.

He clearly mopped the floor with his motivational stuff.

People think if you join one field, then there is no turning back. Janitors never get promoted to CEOs, except Sidney James Weidberg, because he was special.

Its not necessary to remain in one career throughout your life, because although staying in it guarantees experience, it doesn’t necessitate more money. It improves earning potential, but not earning.

You disagree. Here, let me guide you through that mental shift.

Does the person earn more based on his experience?

Yes he does.

What does experience imply?

Expertise in a given field, with an ability to make the right decisions and handle situations appropriately.

Next question, if a person works in a particular field for a number of years, does it guarantee that he has what it takes to take over a superior’s position? Think about that for a while.

If you’ve been working then you know that the learning curve goes up for the first couple of months and then slowly stagnates. You learn the essentials, and get stuck with only knowing the essentials. Most are content with it and go about their daily business. Say you work in the IT field, you’ll learn a couple of programming languages at first and once you’re fairly comfortable with them, do you go on to learn the others? Would you invest that time to improve your knowledge on computers, hardwares and latest advancements, or will you stay with what you’ve got? Most remain with what they’ve got.

Can you become a software developer with the knowledge you’ve gained in the initial years? What separates developers from programmers? Yes, its experience, but what kind of experience?

The kind you work on during your free time to attain.

Just like how Tony Robbins sharpened his intellect by keeping himself occupied, reading books written by successful entrepreneur; programmers get to the next level by putting in the effort to learn new softwares, instead of maintaining the baseline effort that keeps them from getting fired.

The experience you have as a result of sticking with a certain career for 5-6 years, implies competence, not an arsenal of extraordinary skill. The career isn’t lucrative by default, you make it lucrative by developing the skills necessary to get ahead. A career has the opportunity to draw in lucrative income, its your job to search, develop and adopt the tools required to unearth those hidden opportunities. Those tools are the books, people and places others refuse to work with that, you have to use.

In Closing

In other words, don’t be the guy with a bucket over his head.

You either spend the rest of your life performing the exact same job, or put in the extra effort to learn something new and draw incentive from it.

Make your choice.

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