A Job You Love vs. A Job That Pays Well

[CrankFate]

I agree with @Koz & @Smallies

And in my opinion, you need to run your life like a business. Yes, making money matters. But, IMO, handling your expenses by keeping them as low as possible is more important than making more money. There is a reason that there are pro ball players and musicians and actors who make millions and still go broke. They just spend everything they make. That is even easier for everyone else when you’re not making millions and millions of dollars.

First and foremost, control your expenses. The best way to do that is to not borrow money. Because you can always reduce your spending if you have to. But you cannot do that if you have recurring monthly payments on credit accounts. 
 

Next, is schooling. Today, it is a waste of money for most people. You have to be realistic about what you spend on school vs how much you’ll truly make per year. The posted starting salaries on the internet are close to double what people make in reality. So dont fall for it. Many schools have been sued for fraud by claiming the grads make more than they really do. And they lost those lawsuits. The websites like pay scale aren’t as easy to sue.

 

I am a professional. I went to grad school. However, I  started college at a good private school with a scholarship. The school lost a lot of funding and eliminated several scholarships. I had the choice of borrowing tens of thousands of dollars a year to stay there. I didn’t. I knew I was going to grad school and I knew how much it cost and how much I’d make after graduating. Plus, real estate prices are ridiculous where I live, so I transferred to community college.
 

It cost $1,200 per year. I also worked full time most of the time in college. I worked full time going to grad school also. So in the end I graduated with much much less debt than most people I know. I know many people that graduated with $250,000 to $375,000 in debt and they are not likely to make $100,000 per year. That is horrible business judgment. Basically more than I ever owed in my life and I own a pretty expensive house. Not bragging about that, but it gets annoying when you get people who assume you’re dying trying to keep up with the payments, too.

The whole point is to do anything and everything you possibly can to avoid becoming a slave to monthly payments. Especially today, when job loss is to be expected and high paying jobs are scarce because everyone already has a degree. And because of better heath, most people who have high paying jobs are working into their mid 70’s, leaving fewer jobs for the next generations.
 

You need to start off with the power to immediately stop all of your expenses if a catastrophe occurs. Whether it is a severe injury, job loss or illness. Having seen many of these, including my wife having cancer, it wouldn’t have worked out so well if I was a slave to debt payments.

 

There is no magic. There is no secret. You just have to save a large portion of your income and not just spend everything you make. Or worse, borrow to get things you can’t afford. Including an education that is worth less than it cost.

 

If you start out by doing that, you will give yourself the freedom to get a job that you like that pays enough to live. If you can’t manage your own business affairs, no amount of money will ever be enough. 

[BBuck]

On 12/2/2021 at 1:50 PM, A-Jay said:

Job satisfaction Can Not be over stated.

One's "Pay" may or might not compensate for a lack of it.

So much of that happens on a personal level and can & does vary wildly from person to person.

Some folks get their identity from their employment.

Is it what you do or  is it who you are ?

Again, a personal deal.

As a young person with limited experience, it can be hard to 'select' a long term path for yourself.

My advice is to pick something and go for it.

But keep your eyes and your ears open to other opportunities.

If you fall in love with the first deal - great.

If not, CHANGE LANES - early.

IMO - "I hate my Job" is a supremely bad place to live your life.

Regardless of the pay. 

Good Luck

btw - the military is always looking for a few good men.

A-Jay

I strongly second A-Jay's suggestion about the military. It has been extremely great for me for the past 14 years and while it has ups and downs like any job or career, it gives you a chance to grow as a person and discover who you want to be when you eventually grow up. 

[Koz]

1 hour ago, CrankFate said:

Next, is schooling. Today, it is a waste of money for most people. You have to be realistic about what you spend on school vs how much you’ll truly make per year.

I agree. What we really need now is more people in the trades. If you're a good plumber or electrician you'll be rolling in money. Plumbers especially are making ridiculous money. Foundations like https://www.mikeroweworks.org/ are a great place to start.

 

JUCO and community colleges (as you mentioned) are also underrated. You can even go there for a year or two and transfer to a larger college.

[InfantryMP]

2 hours ago, BBuck said:

I strongly second A-Jay's suggestion about the military. It has been extremely great for me for the past 14 years and while it has ups and downs like any job or career, it gives you a chance to grow as a person and discover who you want to be when you eventually grow up. 

Especially if you want to go to college! Yea, you will learn some life experiences etc, but I have a BS degree, and two MBA's all because I spent time in the military, and those three degrees cost me nothing, but time in the service.

 

I also agree with the previous comments about keeping expenses low. Warren Buffet and those rich folks stay rich because they do not spend excessive amounts of money unless investing it to make more money. 

 

BTW...I think there is a new article out about credit card debt has now exceeded student loan debt, or maybe its the other way around, but either way....a ton of debt is not good.

[CrankFate]

@Koz I agree. One of my sons says he wants to be a professional/civil engineer. I said do it. There is a shortage. PE’s are making more money than ever and the shortage is expected to get worse. He’s only 11 now, so who knows what happens, but it’s fine with me.

 

@InfantryMP I don’t know which one is a bigger problem now. But we are in a horrible student loan bubble. They are horrible because you don’t need credit. You do t need income. You don’t need anything, except registering for school. And bam $10,000, $25,000, $100,000 — it’s yours no questions asked.

At one point I worked is a pretty bad area and there was a building with dozens of people waiting outside day after day, rain, snow, freezing. Every single day. I finally asked what they were waiting there for. I learned it was a bogus school that just got approved for student loans. The people were registering, taking out thousands of dollars in student loans that they were never intending to pay back without ever attending a class. If you can do that. If it’s that easy, it’s subprime crisis 2.0, except there are no houses that are worth half the value of the debt. So it’s going to eventually be even worse. 

[schplurg]

Both please!

[VolFan]

I think the ‘schooling is a waste of time’ is a bit of a fallacy. Taking out tens of thousands in loans that saddle you with debt for years is the issue, as is credit debt for many adults. Going to a community college for two years and transferring those credits to a more appropriate school when you know a little better what you want to be is a very responsible route. So are trade schools. So is the military. If I were to do it all over I would probably join the Navy or Air Force to get an education and technical proficiency and see the world, but there’s a multitude of paths you can take. Definitely not Coast Guard rescue operations- those guys are nuts! ?

[CrankFate]

@VolFan Strange coincidence, I knew a guy in that field. Never could pay his bills. Had his wife and kids living off his mother. Still does AFAIK. Also, the only person I ever knew to get foreclosed. Wasn’t very good at fishing. Only man of the sea I ever knew who couldn’t even tie any knots. I always assumed he was also responsible for spreading rumors about me being broke, which have persisted on the internet for years, even though it was never true and is 100% made up. Type of person that can’t even post anything on the internet with a fake name and a mask on. Weird coincidence that you mention those guys here.

[VolFan]

Maybe it’s not weird at all…

 

 

 

(I was actually referencing @A-Jay who was in that lie of work for a long time)

[CrankFate]

6 hours ago, VolFan said:

Maybe it’s not weird at all…

 

 

 

(I was actually referencing @A-Jay who was in that lie of work for a long time)

Ooops! Forgot about that!!!

 

I guess they can’t all be men of @A-Jay’s caliber.

[TnRiver46]

I recently left a job I liked for a job that actually pays decent, I wouldn’t go back haha. Now I can buy food and stuff 

[Jigfishn10]

I'm looking towards retirement and if all goes well on the 23rd, I'll be taking a huge cut in pay for a job with waaaay less stress and nice retirement on the backend. I'm looking to be a Zoning & Code Enforcement Agent. 

 

Just got notified today, actually, that I'm being seriously considered for the position.

[gim]

I see this an older thread but still valid.  I think it would be very difficult to find a job you love to do more than not working, and pays the bills.  I'm sure they exist and some people have them.  I have a good job that has a steady paycheck, good health benefits/retirement, and flexible work hours but by no means would I rather be working than fishing or doing something else I enjoy.

[JackstrawIII]

I've had jobs where I make 3x what I make now... would NEVER go back to a job I didn't like. 

 

All these answers are just personal experiences, which is all we have to work from. And everyone is different. You'll find your own way. 

 

One last piece of advice, don't be afraid to change directions. Risk usually brings reward. 

[TOXIC]

That’s why they call it a work/life balance.  My fear is for the younger generation that gets the “life” but not the “work” side of the equation.  This live now and don’t worry about tomorrow is a recipe for disaster unless you plan on being supported by a nanny government at some point.