I read that about every minute, someone, somewhere, becomes a millionaire.
I recommend when you get out of Chiro school, continue to live like a student for at least ten years so you can save an amount of money that will work for you. That is what I did and even though I’ve never had a high income, at 42, I have over 300 grand saved plus nice home equity.
To an extent I still live this way. My wife and I do have a nice home and she drives a nice car, but, we still sleep on mattresses on the floor and I drive a '92 Corolla.
Regarding your future Chiropractic career, my closest friend is a Chiro. He told me it never worked out for him when he worked for someone else. He said it didn’t get good for him until he started his own practice and did things his own way.
[quote]on edge wrote:
I recommend when you get out of Chiro school, continue to live like a student for at least ten years so you can save an amount of money that will work for you. That is what I did and even though I’ve never had a high income, at 42, I have over 300 grand saved plus nice home equity.
To an extent I still live this way. My wife and I do have a nice home and she drives a nice car, but, we still sleep on mattresses on the floor and I drive a '92 Corolla.
Regarding your future Chiropractic career, my closest friend is a Chiro. He told me it never worked out for him when he worked for someone else. He said it didn’t get good for him until he started his own practice and did things his own way.
[/quote]
Do you ever tell your friend “less yacking, more cracking”?
Money? the studies have been pretty conclusive while it can’t by 100% happiness it creates a less stressful environment for Americans. On average those with more money are happier, those that are not happier have other issues(Fuckin Retards).
Texas guy said it best, if you don’t have a passion follow the big money professions, they are pretty much time tested. Many immagrants come over with their plan of action get their money and have much better lives. Americans like to worry about if this is truly what I love and bullshit like that. If you love it you can make it a hobby. Once you get the money if you think you would be better off without it, you can always quit and piss away your money chilling.
Happy medium? lol Thats like saying I don’t want to get too big. Most people are not going to make that much money so stop not trying.
[quote]Airtruth wrote:
Happy medium? lol Thats like saying I don’t want to get too big. Most people are not going to make that much money so stop not trying.[/quote]
I don’t agree with this at all.
I’m not going to compromise my current life to double my salary when its not going to double my happiness and enjoyment of life. If I want to increase my happiness, I will look to things outside of work, things that truly make me happy. I already live comfortably, why should I be that concerned about increasing my income?
Haha it’s funny I was sitting around a lunch yesterday talking to the other financial analysts at my work about this topic!
Basically we boiled it down to 2 points. The first being that every wastes money on something they love. For my friends it was golf or chasing after that one big investment. For me I spend my extra money on cars because that has always been a passion of mine.
The second thing we came to was that we wont ever make the money we want to by sitting in a cubical. You want to make the big bucks, you need to work for yourself. There are only a handful of very wealthy CEO’s out there and chances are you wont move up the ranks to that level.
Basically my plan is to work for the next few years trying to move up the ranks since I am already in a program that when I get done with it I will be a manager. After that I fully plan on opening my own gym and trying to grow a business. That way incase it doesn’t work out, I’ll have a good resume to fall back on. We shall see how it goes though.
[quote]CrewPierce wrote:
The first being that every wastes money on something they love.
[/quote]
But is it really a waste if it’s something you love? I guess it could be if it’s excessive, but I don’t think that what you’re talking about.
I don’t know, maybe I’m just over-analyzing the wording in this thread.
I went to California two summers ago to be in this program (IBI, it’s bullshit) and there’s so many rich people there. We had to talk to a lot of them, and even the kids there were rich, and were inventing stuff, and having their own shoes, or stores.
It seemed to me like what it takes is
- money, it takes money to make money and at IBI they basically give you money
- self employment, you can’t make more than your manager
- Leadership qualities. Confidence, attitude, being a leader…
I hope my thinking is right, because I want to become wealthy.
[quote]rrjc5488 wrote:
texasguy1 wrote:
I agree a happy medium is best, but while money does not equate happiness, it makes happiness easier to achieve by eliminating virtually all major sources of stress.
So your work is your major cause of stress (given that you dont like your high paying job) but the extra money allows you to releive the stress. Lets say you work 5 days a week and “play” for the other two. I dont see how two days of “play” would “eliminate virtually all major sources of stress.”
That said, most of the very wealthy people I know work 6 days a week, with most of them working longer hours than 9-5.[/quote]
Or you could get paid ten dollars an hour, not be able to afford a house, pay rent all your life, miss electric bills, have your cell phone turned off and have no way out of it.
You will feel stress in your life regardless of what your job is. Certain people feel it for different reasons.
In the examples above, one leads to desperation while one is relieved by a massage and a round of golf. (The round of golf often being paid for by an expense account.)
[quote]CrewPierce wrote:
The second thing we came to was that we wont ever make the money we want to by sitting in a cubical. You want to make the big bucks, you need to work for yourself. There are only a handful of very wealthy CEO’s out there and chances are you wont move up the ranks to that level.
[/quote]
It’s not always so black and white. Allow me to wallow in the gray area for a bit. It is possible to be employed by a company, but work for oneself. I work on a team that works for a bank. Our compensation comes from a pool funded from profits we generate for the bank. Individual compensation is also based partially on individual successes. If we don’t make money in a given year, we earn only our base salary and run the risk of losing our jobs (this is one bit of information that the media conveniently leaves out when discussing investment banking pay). If we make a lot of money for the bank, we make a lot of money for ourselves. This is an industry where there are a lot of millionaires that have always worked for someone else (banks, investment banks, equity funds, etc). The people with the most money in this business are typically partners at I-banks or equity funds, but there is so much money overall that there are plenty of mid-level millionaires. It is also not unusual to find people putting in 12-15 hour days, 6 days a week and checking in for a few hours on Sundays and vacations. For the record, I don’t often put in these hours, maybe a couple of weeks each year.
In the end, life is a series of trade-offs. And your priorities have to be on a sliding scale in order to keep things in balance. Sometimes you have to devote more time to family, sometimes more time to work, sometimes more time for yourself. You can’t eliminate stress, only manage it. Sometimes money helps to manage stress and other times it creates more. No one is 100% happy, life is too hard for that.
In my experience, it is much better to have very little early in life and gain it gradually as you go. By being accustomed to having very little and finding happiness in life’s little things, you are more likely to stay grounded and not need to live lavishly to be happy. If you’re always chasing the next toy, you never play with the toys you already have and you lose perspective on real value. There is a certain comfort and satisfaction in living a middle class lifestyle and letting your savings and investments grow.
I think there is a happy medium and there is such a thing as “too big”. Gasp, I said that on a bodybuilding site, but I believe it.
If you want true happiness, devote your younger years discovering your true talent and developing it. Chances are, it will lead you to a level of wealth where you can be comfortable with your circumstances, and more importantly, be comfortable with yourself. Develop a core value system and stay within those values as much as possible. A lot of life’s stress comes from compromising those values.
In the end, life is one big gray area. If monetary wealth is your only goal, you will never find true happiness.
DB
[quote]Chewie wrote:
on edge wrote:
I recommend when you get out of Chiro school, continue to live like a student for at least ten years so you can save an amount of money that will work for you. That is what I did and even though I’ve never had a high income, at 42, I have over 300 grand saved plus nice home equity.
To an extent I still live this way. My wife and I do have a nice home and she drives a nice car, but, we still sleep on mattresses on the floor and I drive a '92 Corolla.
Regarding your future Chiropractic career, my closest friend is a Chiro. He told me it never worked out for him when he worked for someone else. He said it didn’t get good for him until he started his own practice and did things his own way.
Do you ever tell your friend “less yacking, more cracking”? [/quote]
Even funnier since he is one of the most long winded I have ever met.
[quote]dollarbill44 wrote:
I think there is a happy medium and there is such a thing as “too big”. Gasp, I said that on a bodybuilding site, but I believe it.
If you want true happiness, devote your younger years discovering your true talent and developing it. Chances are, it will lead you to a level of wealth where you can be comfortable with your circumstances, and more importantly, be comfortable with yourself. Develop a core value system and stay within those values as much as possible. A lot of life’s stress comes from compromising those values.
In the end, life is one big gray area. If monetary wealth is your only goal, you will never find true happiness.
DB [/quote]
I felt compelled to comment that this is a great post. Balance is the key. Having a good salary allows you to pay the bills and enjoy some of the nicer material things life has to offer. The bottom line is whether rich or poor true happiness comes from within and not by chasing illusions. I also see where Texasguy is coming from as well.
D