4 answers
Merceah
Student
Hartsville, Tennessee
1
Question
Asked
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How can I make a lot of money, not have a lot of schooling, have fun at the same time, and enjoy my job all in one while being able to retire eventually. How can I make a lot of money while enjoying my job?
I want to be able to make a lot of money and still enjoy my job. I want to be able to retire and have extra money to take my family in trips and other things etc.
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4 answers
George Katsinis Jr. - AFC®
Personal Financial Counselor
37
Answers
Salem, Oregon
Updated
George’s Answer
When your earnings reach a "sufficient" level, the actual amount doesn't significantly affect your wealth. The key to increasing wealth lies in how much of your income you manage to save and invest in various avenues, not just the amount you earn.
Invest your time in developing solid personal finance and money management skills.
Start here.... Book: Richest Man in Babylon
Invest your time in developing solid personal finance and money management skills.
George recommends the following next steps:
Kim Igleheart
Career Counselor | Police Officer
1666
Answers
San Antonio, Texas
Updated
Kim’s Answer
Merceah,
Having a lot of money is not just about how much you earn - there are other factors at work.
1. where do you live? The cost of living in San Francisco is much higher than Del Rio, Texas, for example. Groceries cost more, rent/housing is more expensive, etc. If you choose to live someplace more affordable, that frees up money for other things. If you have a work from home job, that's great, otherwise, the question is, are there decent jobs available where you choose to work? Some people commute an hour or more, twice a day, to get to work. That cuts into free time! Some have an apartment in the city, and a house out of town, and come home on weekends. But that also cuts into family time. So, you will want to keep this in mind as you start out on your career path.
2. How do you live? If you buy things that are designed to last, without worrying about impressing others, life is less expensive. Large houses cost a lot to maintain - electricity is more expensive, as are repairs, and other projects. Modesty gets you further. You don't have to be frugal - you can live comfortably without being extravagant.
3. money management skills - If you keep your money someplace "safe" earning 2% interest, and inflation is 6%, you lose 4% a year. Investment of some sort is essential.
Fun and Enjoyable jobs? Fire department, electric lineman (line person), police department, chef, skilled trades (welder, diesel mechanic), military - every job imaginable! (and lots of free training) , working in the oil and gas industry, underwater welder.
Jobs with the government still offer pensions (sometimes - check to be sure), so that is good. While working, also contribute to a 401/roth/ or other savings program.
There is a movement called "FIRE" which I think stands for "Financial Independence - Retire Early" that might be of interest to you as well.
best of luck!
Kim
Having a lot of money is not just about how much you earn - there are other factors at work.
1. where do you live? The cost of living in San Francisco is much higher than Del Rio, Texas, for example. Groceries cost more, rent/housing is more expensive, etc. If you choose to live someplace more affordable, that frees up money for other things. If you have a work from home job, that's great, otherwise, the question is, are there decent jobs available where you choose to work? Some people commute an hour or more, twice a day, to get to work. That cuts into free time! Some have an apartment in the city, and a house out of town, and come home on weekends. But that also cuts into family time. So, you will want to keep this in mind as you start out on your career path.
2. How do you live? If you buy things that are designed to last, without worrying about impressing others, life is less expensive. Large houses cost a lot to maintain - electricity is more expensive, as are repairs, and other projects. Modesty gets you further. You don't have to be frugal - you can live comfortably without being extravagant.
3. money management skills - If you keep your money someplace "safe" earning 2% interest, and inflation is 6%, you lose 4% a year. Investment of some sort is essential.
Fun and Enjoyable jobs? Fire department, electric lineman (line person), police department, chef, skilled trades (welder, diesel mechanic), military - every job imaginable! (and lots of free training) , working in the oil and gas industry, underwater welder.
Jobs with the government still offer pensions (sometimes - check to be sure), so that is good. While working, also contribute to a 401/roth/ or other savings program.
There is a movement called "FIRE" which I think stands for "Financial Independence - Retire Early" that might be of interest to you as well.
best of luck!
Kim
Niha D
Physical Therapist
60
Answers
Detroit, Michigan
Updated
Niha’s Answer
I would begin by looking into high level technical jobs. These jobs usually have dedicated technical schooling that is 2 years out of high school, plus additional on the job training. On average, people are moving away from these jobs towards the tech sector and social sector, so they are constantly on the search for interested people! These jobs often are more manual labor oriented, and can have dangerous aspects (ie, working with live wires, working with heights, etc), but do have high pay and good holiday/vacation hours.
Outside of technical jobs, I would look into business jobs, which require a 4 year bachelor's degree. However, you can save money by getting through elective and introduction courses at community colleges, then transferring to a larger university for more business oriented classes. Looking for internships is difficult as the field is competitive, but the field itself has good hours, good pay, and is constantly finding new opportunities to shine.
Outside of technical jobs, I would look into business jobs, which require a 4 year bachelor's degree. However, you can save money by getting through elective and introduction courses at community colleges, then transferring to a larger university for more business oriented classes. Looking for internships is difficult as the field is competitive, but the field itself has good hours, good pay, and is constantly finding new opportunities to shine.
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity.
3914
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Hello Merceah,
Answer:
To make a lot of money, enjoy your job, have fun, and eventually retire comfortably without extensive schooling, there are several paths you can consider. Here are some strategies that may help you achieve your goals:
1. Entrepreneurship: Starting your own business can be a lucrative way to make money while enjoying what you do. Identify a niche or industry that interests you and has the growth potential. While entrepreneurship doesn’t necessarily require formal education, it does demand dedication, hard work, and a willingness to take risks. However, the rewards can be significant if your venture succeeds.
2. Real Estate Investing: Real estate can be a profitable investment avenue that doesn’t always require a formal education. You can start by learning about the market, property management, and financing options. With careful research and smart investments, real estate can provide passive income streams that may lead to financial independence over time.
3. Digital Marketing or Freelancing: In today’s digital age, skills like digital marketing, graphic design, content writing, and programming are in high demand. You can learn these skills through online courses or self-study and offer your services as a freelancer or consultant. This flexible work arrangement allows you to choose projects that interest you while potentially earning a substantial income.
4. Trades and Skilled Labor: Pursuing a career in trades such as plumbing, electrical work, carpentry, or HVAC installation can lead to well-paying jobs without requiring a traditional four-year degree. These professions often offer apprenticeship programs where you can learn on the job while earning a salary.
5. Sales or Commission-Based Roles: Sales positions with commission-based structures offer the opportunity to earn significant income based on performance rather than formal education levels. If you enjoy interacting with people and have strong communication skills, sales roles in industries like real estate, insurance, or technology could be rewarding.
To ensure long-term financial security and eventual retirement:
Save and Invest Wisely: Regardless of the path you choose, it’s essential to save a portion of your earnings and invest prudently for the future. Consider setting up retirement accounts like IRAs or 401(k)s to grow your wealth over time.
Continuous Learning: While extensive schooling may not be necessary for some careers mentioned above, continuous learning is crucial for staying relevant in today’s rapidly evolving job market. Stay updated on industry trends, acquire new skills, and adapt to changing technologies to remain competitive.
Seek Financial Advice: Consulting with financial advisors or planners can help you create a personalized financial plan tailored to your goals. They can provide guidance on saving strategies, investment opportunities, and retirement planning to secure your financial future.
By combining passion with practicality and making informed decisions about your career path and finances, you can strive towards making a lot of money while enjoying your job and working towards a comfortable retirement.
Top 3 Authoritative Sources Used:
Forbes: Forbes is a reputable source for business news, insights on entrepreneurship, investing tips, and career advice.
Investopedia: Investopedia provides comprehensive resources on personal finance topics such as investing strategies, retirement planning guides.
Harvard Business Review: Harvard Business Review offers valuable insights into leadership practices, business trends affecting various industries that could inform decision-making related to career choices and financial planning strategies.
GOD BLESS YOU!
JC.
Answer:
To make a lot of money, enjoy your job, have fun, and eventually retire comfortably without extensive schooling, there are several paths you can consider. Here are some strategies that may help you achieve your goals:
1. Entrepreneurship: Starting your own business can be a lucrative way to make money while enjoying what you do. Identify a niche or industry that interests you and has the growth potential. While entrepreneurship doesn’t necessarily require formal education, it does demand dedication, hard work, and a willingness to take risks. However, the rewards can be significant if your venture succeeds.
2. Real Estate Investing: Real estate can be a profitable investment avenue that doesn’t always require a formal education. You can start by learning about the market, property management, and financing options. With careful research and smart investments, real estate can provide passive income streams that may lead to financial independence over time.
3. Digital Marketing or Freelancing: In today’s digital age, skills like digital marketing, graphic design, content writing, and programming are in high demand. You can learn these skills through online courses or self-study and offer your services as a freelancer or consultant. This flexible work arrangement allows you to choose projects that interest you while potentially earning a substantial income.
4. Trades and Skilled Labor: Pursuing a career in trades such as plumbing, electrical work, carpentry, or HVAC installation can lead to well-paying jobs without requiring a traditional four-year degree. These professions often offer apprenticeship programs where you can learn on the job while earning a salary.
5. Sales or Commission-Based Roles: Sales positions with commission-based structures offer the opportunity to earn significant income based on performance rather than formal education levels. If you enjoy interacting with people and have strong communication skills, sales roles in industries like real estate, insurance, or technology could be rewarding.
To ensure long-term financial security and eventual retirement:
Save and Invest Wisely: Regardless of the path you choose, it’s essential to save a portion of your earnings and invest prudently for the future. Consider setting up retirement accounts like IRAs or 401(k)s to grow your wealth over time.
Continuous Learning: While extensive schooling may not be necessary for some careers mentioned above, continuous learning is crucial for staying relevant in today’s rapidly evolving job market. Stay updated on industry trends, acquire new skills, and adapt to changing technologies to remain competitive.
Seek Financial Advice: Consulting with financial advisors or planners can help you create a personalized financial plan tailored to your goals. They can provide guidance on saving strategies, investment opportunities, and retirement planning to secure your financial future.
By combining passion with practicality and making informed decisions about your career path and finances, you can strive towards making a lot of money while enjoying your job and working towards a comfortable retirement.
Top 3 Authoritative Sources Used:
Forbes: Forbes is a reputable source for business news, insights on entrepreneurship, investing tips, and career advice.
Investopedia: Investopedia provides comprehensive resources on personal finance topics such as investing strategies, retirement planning guides.
Harvard Business Review: Harvard Business Review offers valuable insights into leadership practices, business trends affecting various industries that could inform decision-making related to career choices and financial planning strategies.
GOD BLESS YOU!
JC.