Quote: (07-02-2015 02:06 PM)Trill Clinton Wrote:
How did you escape your dead end job? I’m just looking for advice, ideas, or even inspiration.
I feel like I’m trapped in my current gig, which I hate, and because of a bunch of things related to the job (long commute, stressful job, lack of opportunities to move up within my organization), the rest of my life has suffered. I’m a lot less happy and my health has suffered despite not being that old (24).
Two years ago when I started this job, it was just something to get some experience on my resume, and I was a lot more optimistic about the future. Now it feels like I’m gonna have to climb a steep hill to even get a respectable income (60k+/yr) and a somewhat respectable life. I feel like the job market for people like me is a crapshoot.
Current Situation:
-work a dead end call centre type job, that I hate 80% of the time, make around $40,000 a year (in Canada). 40,000 a year can’t get you shit in Toronto.
-do not develop any real marketable skills at work that could impress future employers
-have around $40,000 of fairly liquid assets (cash and blue chip stocks)
-have a little over $25,000 in student loans, but monthly payments are low
-have a bachelor’s degree in economics
-live at home with my parents at age 24 (how I managed to save good money while making 40k)
-commute to work is 1.5 hours both ways (total 3 hours a day)
trying to do evening classes at uni, struggling due to lack of time to study
Goals:
-have a job where I don’t sweat it out with mind numbing tasks. A hard job is fine, just hard in the right way. Challenging.
-improve my income so that I can earn 4000 post tax per month (or, 48000 post tax per year). This is so that I can move out and still save around 1000 a month.
-move out and get my own place
-get back into good shape. I’ve gained 25lbs in two years working at my current place, and LOST muscle so it’s MORE than 25lbs of fat gain. I had a good v-taper two years ago and would get looks when wearing a tight shirt. Now I’m a fat guy.
Any ideas, or stories of how you escaped?
Get a job where you have your own clientele. If you do this, your clients are your customers. You service them. You can set your own appointments and hours. If it's a sales job or other high end job with clients, you can make a lot of money.
Ideas:
Real Estate sales: Get a license and get on with a broker. Build a clientele and reputation. Maybe go out on your own.
Lawyer: Same idea. This costs more money as you have to go to law school but you can eventually 'be your own boss'
Insurance agent - get licensed. Build a clientele and sell insurance. you will make "renewals" on all policies which is akin to residual income.
Stockbroker/Financial Advisor: Interview with a firm that hires trainees. Get your appropriate licensing. Bust your ass for 5 + years prospecting/networking/ asking people to open accounts with you. Put all their money in accounts that are appropriate for their risk tolerance/expectations and will do go for them, obviously number one and number 2, will pay you a residual income ( in the business, known as a "trail") Get paid every year just by keeping their accounts with you and servicing them.
All investors pay investment fees, regardless of if they're doing no load funds or working with an advisor. The difference is that with an advisor a part of that fee goes to the advisor for being a steward of the money. This is the route I took. OPM-other people's money.
Of the jobs I've described above, you can pretty much be your boss and set your own hours and come and go as you please AFTER years of building your clientele where you are generating reliable monthly income for yourself and your firm. The good thing about any of these careers is you can always go independent later after you've accumulated clients and built a reputation for yourself.
Anything where you "have" to be somewhere, like 8 to 5 well, screw that. Don't get me wrong, you will have to have set hours and answer to a boss in any of my above examples for the first few years. But once you've established that clientele, your boss should let you do as you please, set your own hours, etc. The idea is to have a job with the potential to lead here. Everyone starts off as a pleb.
I recommend Ken Fisher's book "The 10 Roads to Riches"