6 answers

Will I regret not making money?

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I am choosing the education field, which is where my passion lies. However, will I regret making next to no money? Now I think not, there are more important things. But still I wonder. #education #money-management

6 answers

Ashley’s Answer

Updated

Follow your passion! You will be so much happier. I love what I do and I enjoy going to work. It makes such a difference doing what you love. Here is a great video of Simon Sinek on this very topic. Skip the ad and fasts forward to 50 seconds into the video. Good luck! https://www.youtube.com/watch?v=cNiKmZ__yZY

I love Simon Sinek! Great video to share Ashley! Jordan Rivera COACH

Kimberly’s Answer

Updated

Best advice my father ever game me. He was a police officer who made decent money but it was more about doing what he loved. He lived a lifestyle 20% less than what he made and put away that 20% into investments at a very early age. He retired at 48 with over a million in the bank. This is due to the compounding effect of money in your investments. So you may not make a lot now but if you save now and sacrifice, you win in the long run. Do what you love. Just be smart about how you live and invest. Start saving NOW. Google the compounding nature of $100 invested today and what it is worth in 30 or 40 years.

Kimberly recommends the following next steps:

  • Google the compounding nature of $100 invested today and what it is worth in 30 or 40 years.

Hunter’s Answer

Updated

Research from "Nature Human Behavior" shows that for individuals in the US, an income of ~$105K is about optimal for life satisfaction. Naturally, that level depends on where you are, the cost of living , and even your perceived income of the people around you. In fact, beyond that, happiness tends to deteriorate. A stable income of that level is very possible, but it does require an education, or entrepreneurship.

At that income, you will find that you stop worrying as much about money and much more on what you are doing in your day to day life to drive personal satisfaction, often through your job, but also through your personal endeavors or family. Ambition beyond that, is usually more about maximizing your impact on the world and less about the material things you can acquire with additional income


Richard’s Answer

Updated

My recommendation is to join or sign up for Glassdoor.com . It's free and you get insight into what careers pay down to company and location. Wealth differs from person to person based on your lifestyle and other factors. You can be wealthy and make under 100k/year if you have little debt and are financially responsible, even for a small family. On the flip side you could be making 2x or 3x that amount but if you live a lavish lifestyle and overextend yourself between possessions and expenses you may not be "wealthy". Decide what lifestyle you want and take advise from past generations, so you don't make the same mistakes.


For example, I would have started and finished my 2 year college degree at a local community college rather than waste 40k at a university trying to figure out my aspirations only to transfer to said community college and finish out my degree. I pay $300/month and will continue to do so for about 10 more years. If you're committing yourself, make sure you have passion behind your degree or shadow someone who is in the field to get real insight.


You'll be alright 😉

Allison’s Answer

Updated

I have been on both sides of this coin, making no money doing work I love and making a lot of money doing a job I could tolerate. if you have true passion for what you do I don't think the $ comes into play! As long as you can survive on what you do it's worth it to make less money and love your job than to make more money and dread going to work everyday! The saying is "if you love what you do you never work a day in your life" for a reason! Especially with how much time we spend at our jobs. Follow your passions and try to fill yourself with the satisfaction of what you do instead of the $

Len’s Answer

Updated

You want to embark on a career you will enjoy because you will be doing it for a long time. You can still make good money as your career progresses. Enjoy life!