Those of us in the corporate world know it is an extremely complex place, oscillating between being exasperating, infuriating, boring, political, and (for the rare few of us who “understand the game”) even fulfilling. However, there is a reason we corporate folk grind out the long, thankless hours: Pay, benefits, and stability tend to be higher when working for large companies than for small companies (although this has been eroding lately).
The purpose of this section is simple: I know you work very hard for your money. As such, you need to know what to do with it so that you can achieve your financial goals, whatever they may be. Some people (like myself) dream of an early retirement. Others can’t imagine not working, so they have other goals: paying their kids college tuition, traveling the world, supporting charities, or funding hobbies and interests.
However, I will never cease to be amazed by the number of people I have worked with over the years who put in grinding hours in demanding jobs and making substantial personal sacrifices only to see their hard earned money disappear through bad investments, frivolous and wasteful spending, or just plain bad financial planning (or worse yet, the lack of a plan). Shockingly, these mistakes are made by all levels of people in the corporate world from Administrative Assistants all they way up to Senior Executives and C-Suite corporate officials.
I want to make very clear: I am NOT a financial adviser and I have no “get rich quick” schemes to share. There are two, very powerful attributes I do have: discipline and a plan based on a good amount of research and trial and error. Why should you listen to me? Because I am 37 years old and am on track to be able to retire at 40. I didn’t get to this point because I work at some high flying company whose stock has exploded, I am only average at picking stocks/investments, and I have not inherited any money. However, ANYONE can reach financial independence quickly (within 10 years) by following a few simple rules (again: discipline).
More importantly, research consistently shows that financial issues are a major cause of stress in people’s lives. Chances are that if you work in the corporate world, you are already stressed out. The purpose of this section is not to help you make as much money as possible (the tips will help you do that) but rather to train you how to manage your money in a way that will remove this stress from your life so you can spend your time on what is truly important: friends, family, and living an interesting, fulfilling life.
Topics in this section will include:
- The Buffett Rule: There are only three ways to get rich…
- The only 3 books (and one blog) you need to read on investing to reach financial independence.
- I don’t really care about money/investing/retirement… why would I want to be financially independent?
- How much should I save? What should I do with my savings?
- Stealthy ways in which your wealth is eroded (or, the impact of taxes, commuting and other black holes…)
- The strange financial psychology of the corporate world (or, why does it seem like everyone I work with has more money than I do?)
- How to splurge without breaking the bank.
- And many more…
As this site gains traction I hope to foster discussion in the comments section and answer questions as they arise.