So ambitious w/ money but so risk-averse

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workingovertime
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So ambitious w/ money but so risk-averse

Post by workingovertime » Thu Jan 04, 2018 5:58 pm

I don't want to say I'm "greedy" but I'm extremely ambitious about wanting more money ALL the time. I don't necessarily dream about huge houses and fast cars (though I do at times but maybe only to the extend where it's normal to), but I'm obsessed with the idea of financial freedom and I'm not happy with how slow my calculation tells me I'd have to go. I have low income (household is around $67000, but my wife makes $40000 and I make about $27000). I would be okay with this if we weren't planning a family one day where she would ideally stay home. We're both 28 years old. For reference, I have a BA in a useless non-technical degree (foolish decision).

With all of the above said, I'm also extremely risk-adverse. I constantly think about (I mean, CONSTANTLY) about starting my own business and obsess about different ideas. I also constantly think about going back to school. And I constantly think about any other ways to get to the next level. Several years ago, I've finally broke out and started a business and registered it with the county (or state? can't remember) but changed my mind before I really did anything else. Thankfully, I was not much committed and barely lost any money. I've registered back to school for a 2nd Bachelor's (this time in a more lucrative technical degree) at least 2-3 times but changed my mind each time. The first time, I did take a few classes then stopped but not for the lack of motivation to work/study hard. Each time, I went to trouble of applying (and paying to apply) for the school, sending in multiple transcript (and paying for them), attending orientation (also paying AND switching my work schedule around), only to change my mind later on. I get a sense that either I won't enjoy the field, that I won't find a well-paying job, or that I will not find the "out-of-pocket" tuition not worth it. It probably doesn't help that our income is not too high so every $ means more to us than those making 6 figures+. Also, I hate slowing down our retirement funds for the sake of taking chances for something that might not be worth it. I really don't see myself enjoying any type of field and "figuring out what I want to do" was something that I have never figured out since I was a teenager. We currently save approximately 30% of our income. I remind myself that sometimes it is better to be the turtle than a hare chasing something bigger and faster, but I'm just too impatient with this pace.

Do any Bogleheads here ever get this kind of impatient and ambitious feeling? I wouldn't mind the slow, boring, and the less risk-adverse way (the Boglehead way) but maybe I would feel better if I was doing that with a $100k+ income of my own rather than my current pace where I'm expected to make money for a future family in the next years. Lately, I''ve got as LOW as considering investing several thousands in a cryptocurrency. Now, that's when I knew I was becoming a bit desperate and going too far. Of course, me being very risk-adverse didn't end up going through with it (and don't plan on).

mad_pear
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Re: So ambitious w/ money but so risk-adverse

Post by mad_pear » Thu Jan 04, 2018 6:19 pm

It sounds like you need to figure out what you want to do with your life. What inspires you? What kind of work and challenges do you enjoy? I would recommend reading some books like What Color is Your Parachute to figure out your strengths and interests. Audit some college courses or try some online for free through Coursera or similar services.

Also, try to understand why you have problems with perseverance. Planning or organizational techniques might help, or perhaps it is something else, like the fear of not saving enough that you mention? Looking into the starting salaries in the fields you are looking into may help. Do some calculations to see how quickly the degree would pay itself off with average to below average starting salaries (being conservative).

There is no shortcut to wealth without risk and hard work. You have the savings part of the "Boglehead way" down and understand that the way to increased savings is through a higher paying career. That is a very good start. Good luck.

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unclescrooge
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Re: So ambitious w/ money but so risk-adverse

Post by unclescrooge » Thu Jan 04, 2018 6:26 pm

You should probably find a job doing something completely different and see if you enjoy it.

The good news is you have no downside. You're currently making slightly more than minimum wage. Most sales-related jobs should pay more than what you currently make. I would definitely give those sorts of jobs a shot.

Engineer250
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Re: So ambitious w/ money but so risk-adverse

Post by Engineer250 » Thu Jan 04, 2018 7:21 pm

Have you thought about a second job? Would your current job let you work nights at a restaurant or coffee place or pizza delivery or something? It's a good time (economically) to get a job. It sounds to me like you have a lot of excess energy but keep avoiding long term commitments. A second job in retail or something would net you a big increase to your wages and let you "burn off" some of your excess energy while you think it over.
Where the tides of fortune take us, no man can know.

epictetus
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Re: So ambitious w/ money but so risk-adverse

Post by epictetus » Thu Jan 04, 2018 7:41 pm

any kind of program/training area at a Community college appeal to you at all?
those programs are a lot more directed at training towards a particular job.
and they are two year programs.
depending on when you graduated you might be able to transfer in some credits/classes and finish in less time.

that would possibly be a more quick/efficient/practical way to move toward a more solid and well-paying career path.
Focus on what you can control

workingovertime
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Re: So ambitious w/ money but so risk-adverse

Post by workingovertime » Thu Jan 04, 2018 7:55 pm

Engineer250 wrote:
Thu Jan 04, 2018 7:21 pm
Have you thought about a second job? Would your current job let you work nights at a restaurant or coffee place or pizza delivery or something? It's a good time (economically) to get a job. It sounds to me like you have a lot of excess energy but keep avoiding long term commitments. A second job in retail or something would net you a big increase to your wages and let you "burn off" some of your excess energy while you think it over.
Yes. On the verge of doing that actually. I've strongly considered changing my current job availability to "set" days so that I can find a 2nd job. I make $13.70 on my current job but I think I could make more doing a tipped job (have experience). This is of course a short-term solution though.

As another user mentioned, I'm not so sure about doing something completely different. I have degree in Criminal Justice. Started out as a 911 operator (hated every second), then had an entry level security job, and now my current job which started out as doing "safety" audits has turned into doing more of risk and compliance matters (company had a major organizational change and shifted my position title). I would be open to trying something completely different, but I'm afraid of throwing away any little experience in my current field only to go into another entry level job.

Engineer250
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Re: So ambitious w/ money but so risk-adverse

Post by Engineer250 » Thu Jan 04, 2018 9:28 pm

workingovertime wrote:
Thu Jan 04, 2018 7:55 pm
As another user mentioned, I'm not so sure about doing something completely different. I have degree in Criminal Justice. Started out as a 911 operator (hated every second), then had an entry level security job, and now my current job which started out as doing "safety" audits has turned into doing more of risk and compliance matters (company had a major organizational change and shifted my position title). I would be open to trying something completely different, but I'm afraid of throwing away any little experience in my current field only to go into another entry level job.
Based on the criminal justice degree, have you considered being a police officer (or depending on where you live, agent to another agency)? I just ask because that's likely a low-risk path to a more comfortable financial life. I know around here they are hiring police/sheriff like crazy.
Where the tides of fortune take us, no man can know.

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arcticpineapplecorp.
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Re: So ambitious w/ money but so risk-adverse

Post by arcticpineapplecorp. » Thu Jan 04, 2018 9:54 pm

police officer isn't a bad idea, but usually you have to go to police academy and there may be limited spots available each year.

have you considered being a parole officer instead? Or work in a prison? State jobs for prison guards and/or parole officers pay fairly well (I know quite a few people who went this route).

You could check with your state civil service commission website. You might have to take a test and get on a waitlist.

There are other related jobs as well like domestic relations officer, (usually city or county job, again civil service), bailiff or other jobs in courthouse, etc.

You could look into being a caseworker with children and youth or what's known as an income maintenance caseworker (state job) determining eligibility for state and federal programs like food stamps, medicaid, cash assistance, liheap, etc.

Have you considered doing any kind of jobs in the mental health field? There is often a need for TSS (therapeutic support staff) usually for children with special needs (sometimes in schools, sometimes at home) or other similar jobs (working at a partial hospitalization program), family based therapy (a team approach, one master's level one bachelor's) that delivers services in home and is part therapy/part crisis intervention/part case management.

check out office of aging to see if there are any jobs available there. Or job coach at Goodwill or other similar agencies.

Really depends on what you might want to do, but there are lots of jobs out there for people with your background (criminal justice).
"Invest we must." -- Jack Bogle | “The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.” -- William Bernstein

GuyFromGeorgia
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Re: So ambitious w/ money but so risk-adverse

Post by GuyFromGeorgia » Fri Jan 05, 2018 2:07 pm

I'm struggling to find evidence of ambition here. There's lack of follow-through, lack of commitment, lack of faith in your endeavor. I'm not bashing, but I'm with one of the previous posters that said you need to find out what you want in life. Work sucks, the goal is to find something that is tolerable for your personality and skill set. You should consider doing a Meyers-Briggs test to learn about yourself and how your personality fits in the world. You have a degree, but aren't doing anything with it. In a similar manner, you think another (technical) degree will change things. But you're scared you won't find work, or you won't like it, or other excuse, or other excuse. That's fair for an 18 year old, but come on, you've had a decade to learn about life. I know several people making 6 figures without a college degree. Some work hard in construction, one is in sales, one started at 18 in a call center. The one in the call center ended up being promoted, and promoted again, until by 25 was running the call center. Eventually they got transferred to a professional role equivalent to an engineer. All of these people have a strong work ethic, they rise through the ranks to eventually take over, and they have mental toughness to see it through. You're making $13/hr. Find a way to take your managers job. Once you're done there, go somewhere else to a bigger store or a larger market. Dress for the job, come in early, stay late, be a team player, etc. Or go back to school and actually do it this time. Sure, you'll go into debt and have to bust your tail for 4 years, but when you're all done you'll find work. Starting pay for most engineers is $50-80k per year. You could end up with a million bucks by the time you're 40. You're a little late to the game, but you're in the driver's seat and looking long-term you have several decades to accomplish everything you want. Good luck!

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Re: So ambitious w/ money but so risk-adverse

Post by randomguy » Fri Jan 05, 2018 3:25 pm

GuyFromGeorgia wrote:
Fri Jan 05, 2018 2:07 pm
I'm struggling to find evidence of ambition here.
+1. When it is time to start working and stop dreaming the OP bails. See also the appeal of the get rich scheme. This incredibly common. The dream of being rich, in shape, starting a bussiness, and so on is a lot more appealing than putting in 10+ years of hard work. So is blaming things like degrees (criminal justice isn't going to get you 6 figure jobs but 40-60k are not absurd). Getting another degree without knowing why the last one didn't work out is likely to get you in the same spot.

mptfan
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Re: So ambitious w/ money but so risk-adverse

Post by mptfan » Fri Jan 05, 2018 3:33 pm

I'm sorry, but the editor in me can't help myself...it's risk averse, not risk adverse.

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Re: So ambitious w/ money but so risk-adverse

Post by Grt2bOutdoors » Fri Jan 05, 2018 3:36 pm

randomguy wrote:
Fri Jan 05, 2018 3:25 pm
GuyFromGeorgia wrote:
Fri Jan 05, 2018 2:07 pm
I'm struggling to find evidence of ambition here.
+1. When it is time to start working and stop dreaming the OP bails. See also the appeal of the get rich scheme. This incredibly common. The dream of being rich, in shape, starting a bussiness, and so on is a lot more appealing than putting in 10+ years of hard work. So is blaming things like degrees (criminal justice isn't going to get you 6 figure jobs but 40-60k are not absurd). Getting another degree without knowing why the last one didn't work out is likely to get you in the same spot.
It can be parlayed into a six figure job. You need to do your time, take exams, get promoted and promoted again, but it can be done in any of the major metropolitan areas. Criminal justice is not a dead-end degree unless that is what you choose to pursue. The OP is a bit older, have generally up until early 30’s to become police officer before being aged out. Make up your mind what you want to do and get going, today because tomorrow is right around the corner.

If you don’t like criminal justice, how about becoming a nurse? Nurses make a good living, and there is demand for them. Or perhaps a physicians assistant?
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

10YearPlan
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Re: So ambitious w/ money but so risk-adverse

Post by 10YearPlan » Fri Jan 05, 2018 4:16 pm

OP-
I've spent my entire career in HR/Recruiting. The double bachelor degree is almost always indicative of someone who does not know what they want to be and (IMO) is more often a waste of time and money than anything else. That said, going to school, such as a Master's Degree, or some sort of certification, is not a bad idea. You just have to figure out what you think you want to do first.

If making money is your primary objective then I would go get yourself a second job while you figure it out. It will help build some financial momentum and may also help give you exposure/experience that will help you figure out what you want to do longer term. And if you have less time to ruminate on your situation, that's probably a good thing.

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Re: So ambitious w/ money but so risk-averse

Post by triceratop » Fri Jan 05, 2018 4:17 pm

I edited the thread title to use the intended word, "risk-averse".
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workingovertime
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Re: So ambitious w/ money but so risk-averse

Post by workingovertime » Fri Jan 05, 2018 5:37 pm

Thanks all for the reply. And also for editing the misspell!

I'm of course biased. I disagree with the lack of ambition. I could write multiple paragraphs to argue but that'd be pretty unproductive to this discussion.

To be brutally honest, I probably had too much of an influence during my younger years of "finding a job that makes you happy". I admit I constantly dread the idea of work and generally dislike work. I just don't like the idea of work. With that said, I love being busy and tend to be always on-the-go. I wake up early everyday and always have a full checklists and hate the idea of being idle. I'm extremely ambitious but I'm realizing that instead of being "risk-averse", I'm probably just afraid of something new. For example, I love fitness. I drag myself to the gym when I have no energy after work and constantly eat things I don't like. At the end of the day, that still makes me happy because it gives me a huge sense of accomplishment. I've fiddled with the idea of being a personal trainer but I'm very socially awkward (true statement, but in the end it's just an excuse to not try something). I'm also easily discouraged as soon as I hear/read a few negative stories about what I dream about. I think I just need to JUST DO IT sometimes. I'm extremely analytical and I feel like when you think through all of the scenarios before even doing anything, everything just transforms into a bad idea.

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Re: So ambitious w/ money but so risk-averse

Post by CppCoder » Fri Jan 05, 2018 6:06 pm

triceratop wrote:
Fri Jan 05, 2018 4:17 pm
I edited the thread title to use the intended word, "risk-averse".
livesoft will surely thank you :D.

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Re: So ambitious w/ money but so risk-averse

Post by AnalogKid22 » Fri Jan 05, 2018 6:17 pm

No degree is useless. I have a BA in English, no masters, have made a six-figure salary the majority of my career and am almost a millionaire. It's about doing what you love, working your ass off at it, and, of course, investing.

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Re: So ambitious w/ money but so risk-averse

Post by livesoft » Fri Jan 05, 2018 6:31 pm

Yes, thanks. Don't let it go to my head though.
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oldzey
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Re: So ambitious w/ money but so risk-averse

Post by oldzey » Fri Jan 05, 2018 6:43 pm

Depending on your savings rate, financial freedom could be sooner than you think:

The Shockingly Simple Math Behind Early Retirement

When can I retire?
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

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Re: So ambitious w/ money but so risk-averse

Post by AnalogKid22 » Fri Jan 05, 2018 6:56 pm

oldzey wrote:
Fri Jan 05, 2018 6:43 pm
Depending on your savings rate, financial freedom could be sooner than you think:

The Shockingly Simple Math Behind Early Retirement

When can I retire?
Love that "When can I retire?" calculator. Thanks!

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Re: So ambitious w/ money but so risk-averse

Post by jchris » Fri Jan 05, 2018 7:34 pm

AnalogKid22 wrote:
Fri Jan 05, 2018 6:17 pm
No degree is useless. I have a BA in English, no masters, have made a six-figure salary the majority of my career and am almost a millionaire. It's about doing what you love, working your ass off at it, and, of course, investing.
English degree notwithstanding, given your location, shouldn't your user name be DigitalMan22??

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Re: So ambitious w/ money but so risk-averse

Post by Leemiller » Fri Jan 05, 2018 8:26 pm

I don’t seem ambition, I see unfocused daydreaming without putting in the worK. You’re close to the age I finished law school. Just pick something already.

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Re: So ambitious w/ money but so risk-averse

Post by White Coat Investor » Sat Jan 06, 2018 1:15 am

workingovertime wrote:
Thu Jan 04, 2018 5:58 pm
I don't want to say I'm "greedy" but I'm extremely ambitious about wanting more money ALL the time. I don't necessarily dream about huge houses and fast cars (though I do at times but maybe only to the extend where it's normal to), but I'm obsessed with the idea of financial freedom and I'm not happy with how slow my calculation tells me I'd have to go. I have low income (household is around $67000, but my wife makes $40000 and I make about $27000). I would be okay with this if we weren't planning a family one day where she would ideally stay home. We're both 28 years old. For reference, I have a BA in a useless non-technical degree (foolish decision).

With all of the above said, I'm also extremely risk-adverse. I constantly think about (I mean, CONSTANTLY) about starting my own business and obsess about different ideas. I also constantly think about going back to school. And I constantly think about any other ways to get to the next level. Several years ago, I've finally broke out and started a business and registered it with the county (or state? can't remember) but changed my mind before I really did anything else. Thankfully, I was not much committed and barely lost any money. I've registered back to school for a 2nd Bachelor's (this time in a more lucrative technical degree) at least 2-3 times but changed my mind each time. The first time, I did take a few classes then stopped but not for the lack of motivation to work/study hard. Each time, I went to trouble of applying (and paying to apply) for the school, sending in multiple transcript (and paying for them), attending orientation (also paying AND switching my work schedule around), only to change my mind later on. I get a sense that either I won't enjoy the field, that I won't find a well-paying job, or that I will not find the "out-of-pocket" tuition not worth it. It probably doesn't help that our income is not too high so every $ means more to us than those making 6 figures+. Also, I hate slowing down our retirement funds for the sake of taking chances for something that might not be worth it. I really don't see myself enjoying any type of field and "figuring out what I want to do" was something that I have never figured out since I was a teenager. We currently save approximately 30% of our income. I remind myself that sometimes it is better to be the turtle than a hare chasing something bigger and faster, but I'm just too impatient with this pace.

Do any Bogleheads here ever get this kind of impatient and ambitious feeling? I wouldn't mind the slow, boring, and the less risk-adverse way (the Boglehead way) but maybe I would feel better if I was doing that with a $100k+ income of my own rather than my current pace where I'm expected to make money for a future family in the next years. Lately, I''ve got as LOW as considering investing several thousands in a cryptocurrency. Now, that's when I knew I was becoming a bit desperate and going too far. Of course, me being very risk-adverse didn't end up going through with it (and don't plan on).
The way this happens faster is you make more money. The way you make more money is you work harder and smarter. Get a job. A better one than you have. Or just another one. AND start a business on the side. The good news is that when you're starting at just $27K a year almost every job pays more. I mean, minimum wage jobs in Seattle are now $15/hour. You get $46K managing a McDonalds.

How many hours are you working? Can you figure out a way to work twice as many with overtime, a second job, or an entrepreneurial pursuit?

Most people I know who make 6 figures aren't punching a clock. They're working nights, weekends, holidays, evenings, taking work home, doing things that are stressful and carry liability and require getting out of their comfort zone and interacting with and/or managing other people etc. They spent their 20s studying hard and training hard etc. Work as hard as they do and I suspect that eventually you'll find your way into something that pays 6 figures.

And the more you work on an entrepreneurial pursuit, the more businesses you will see all around you just waiting to be started- many with very low start-up costs. Start a website and start drop shipping for instance. Sure, it's a competitive business, but the start-up costs are nothing. It might not work out, but what do you have to lose?

If there is some profession you're dying to do, then go back to school. But if you're just looking to make more money, I'm not sure more education beyond a bachelor's is the solution.
Last edited by White Coat Investor on Sat Jan 06, 2018 1:28 am, edited 1 time in total.
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Re: So ambitious w/ money but so risk-averse

Post by White Coat Investor » Sat Jan 06, 2018 1:25 am

workingovertime wrote:
Fri Jan 05, 2018 5:37 pm
To be brutally honest, I probably had too much of an influence during my younger years of "finding a job that makes you happy". I admit I constantly dread the idea of work and generally dislike work. I just don't like the idea of work.
"The privilege to work is a gift, the power to work is a blessing, the love of work is success." David O McKay

Work isn't "being busy." Work is creating value in the lives of others. Create as much value as you can and a small bit of what you create will flow back to you.

Oh, and read some Jonathan Clements about "finding a job that makes you happy." He's totally against it. He recommends you find a job that pays you a lot so when you're in your 50s you can do a job that makes you happy.
When I talk to college students, I don’t tell them to follow their dreams. Instead, I tell them to focus on making and saving money. I even suggest that they might deliberately opt for a less interesting but higher paying job, so they can sock away serious sums of money. All this might sound deadly dull and horribly reactionary. Aren’t those in their 20s meant to pursue their passions, before they become burdened by the demands of raising a family and making the monthly mortgage payment? Underpinning this is an implicit–but rarely examined–assumption: that pursuing our passions is somehow more important in our 20s than in our 50s. I think this is nonsense. In fact, I think just the opposite is true.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

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Re: So ambitious w/ money but so risk-averse

Post by finite_difference » Sat Jan 06, 2018 1:39 am

workingovertime wrote:
Fri Jan 05, 2018 5:37 pm
Thanks all for the reply. And also for editing the misspell!

I'm of course biased. I disagree with the lack of ambition. I could write multiple paragraphs to argue but that'd be pretty unproductive to this discussion.

To be brutally honest, I probably had too much of an influence during my younger years of "finding a job that makes you happy". I admit I constantly dread the idea of work and generally dislike work. I just don't like the idea of work. With that said, I love being busy and tend to be always on-the-go. I wake up early everyday and always have a full checklists and hate the idea of being idle. I'm extremely ambitious but I'm realizing that instead of being "risk-averse", I'm probably just afraid of something new. For example, I love fitness. I drag myself to the gym when I have no energy after work and constantly eat things I don't like. At the end of the day, that still makes me happy because it gives me a huge sense of accomplishment. I've fiddled with the idea of being a personal trainer but I'm very socially awkward (true statement, but in the end it's just an excuse to not try something). I'm also easily discouraged as soon as I hear/read a few negative stories about what I dream about. I think I just need to JUST DO IT sometimes. I'm extremely analytical and I feel like when you think through all of the scenarios before even doing anything, everything just transforms into a bad idea.
If you can’t find something you like to do for work, then what do you think you’d hate the least?

Sounds like you weren’t bored enough when you were a kid.

A few quotes from the masters:

If you spend too much time thinking about a thing, you'll never get it done. - Bruce Lee

Be the change you want to see in the world. - Mahatma Gandhi

It’s not the note you play that’s the wrong note. It’s the note you play afterwards that makes it right or wrong. - Miles Davis
The most precious gift we can offer anyone is our attention. - Thich Nhat Hanh

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Re: So ambitious w/ money but so risk-averse

Post by Sandtrap » Sat Jan 06, 2018 1:43 am

The best actionable missive I could suggest is through"example".
I love real life "Horatio Alger Stories" so here goes. This is a close friend of mine.

Imagine a young man, business/economics degree, sitting in a bank doing loans and when that's not busy, doing audits in a windowless back room office with nothing but the drone of the air conditioner to keep him company. Pay is dismal. Job satisfaction is zero. But he grew up poor so he has ambition and dreams that anything is possible as long as one is willing to strive, risk, and not give up. Certainly there was more to life.

One day he's filling in on the bank teller line, cashing checks on Friday for a long line of construction workers. They're cashing weekly checks that are more than what the young man makes in a month.

A light bulb goes off.

Flash forward 4 decades.

That young man, now grown, has had a fulfilling career in construction and real estate, and made a substantial nest egg for his family and hares. And, never a day has gone by when he has felt blessed for the privilege of work and personal growth, and the opportunity to help so many -- by delivering a great service, providing employment to others, and homes for folks to raise their family at affordable prices.

You can make a wonderful thing out of anything but nothing will feel wonderful until you make it so. Step by step.

mahalo,
j :D

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Re: So ambitious w/ money but so risk-averse

Post by Tamarind » Sat Jan 06, 2018 7:45 am

I'm 3 years older than you, OP, and while not excessively experienced I've made my place in a good career and I have a plan for what's next, so I've gotten over the hump you are staring at. Guess what, I also have a non-technical BA but am now a subject matter expert in an unusual technical field that pays well. I took my degree because it was fascinating and I don't regret it. I had no idea what I wanted to do right out of college, but I kept grabbing the next gig that was more interesting until I ended up here. I should be making 6 figures in the next year or two. An extra degree will not help you nearly as much as picking a thing you want to be able to do and working hard at at whenever you aren't working your day job. Pick a skill and practice like mad. Then do it again. Make a list of all the things you want to be able to do and break them into steps. IMO second bachelor's degrees and associates after bachelor's are not valued in the workplace unless your first one was from a for-profit or online school without a reputation for quality.

Also, a suggestion for a possible way to re-frame your future. Currently your wife earns more. Does she have good career prospects and ambition? Is there something you could support her in doing to increase her earning potential or find a better job? Would she like it if you stayed home once you have a family and she were able to pursue her profession uninterrupted? Remember that you'll hit your money goals faster if you can increase your household income. It matters less which of you makes the money.

I think it goes without saying that you should not gamble or speculate with your savings. Your savings rate is very good. Build on that by increasing income.

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AnalogKid22
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Re: So ambitious w/ money but so risk-averse

Post by AnalogKid22 » Sat Jan 06, 2018 5:14 pm

jchris wrote:
Fri Jan 05, 2018 7:34 pm
AnalogKid22 wrote:
Fri Jan 05, 2018 6:17 pm
No degree is useless. I have a BA in English, no masters, have made a six-figure salary the majority of my career and am almost a millionaire. It's about doing what you love, working your ass off at it, and, of course, investing.
English degree notwithstanding, given your location, shouldn't your user name be DigitalMan22??
Oh to reach a tropic isle of Avalon.

jchris
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Re: So ambitious w/ money but so risk-averse

Post by jchris » Sat Jan 06, 2018 7:24 pm

AnalogKid22 wrote:
Sat Jan 06, 2018 5:14 pm
jchris wrote:
Fri Jan 05, 2018 7:34 pm
AnalogKid22 wrote:
Fri Jan 05, 2018 6:17 pm
No degree is useless. I have a BA in English, no masters, have made a six-figure salary the majority of my career and am almost a millionaire. It's about doing what you love, working your ass off at it, and, of course, investing.
English degree notwithstanding, given your location, shouldn't your user name be DigitalMan22??
Oh to reach a tropic isle of Avalon.
I saw them on that tour (Signals) - April 1983 at the Carrier Dome.

Engineer250
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Re: So ambitious w/ money but so risk-averse

Post by Engineer250 » Sat Jan 06, 2018 9:11 pm

White Coat Investor wrote:
Sat Jan 06, 2018 1:25 am
Oh, and read some Jonathan Clements about "finding a job that makes you happy." He's totally against it. He recommends you find a job that pays you a lot so when you're in your 50s you can do a job that makes you happy.
When I talk to college students, I don’t tell them to follow their dreams. Instead, I tell them to focus on making and saving money. I even suggest that they might deliberately opt for a less interesting but higher paying job, so they can sock away serious sums of money. All this might sound deadly dull and horribly reactionary. Aren’t those in their 20s meant to pursue their passions, before they become burdened by the demands of raising a family and making the monthly mortgage payment? Underpinning this is an implicit–but rarely examined–assumption: that pursuing our passions is somehow more important in our 20s than in our 50s. I think this is nonsense. In fact, I think just the opposite is true.
Some really great advice.

I feel really strongly about this. I (like OP probably) came from the "just go to college and you'll do well" generation. They also said "follow your passion". At 17/18 like most kids, I didn't really have a passion or know what the heck that meant.

A few years older than the OP now and I feel like that advice was backwards. I think I could be happy doing a lot of things. I went back to school for a 2nd degree (engineering) while I worked. This was back when the job market was crap, but pre-recession. I had also considered nursing, accounting, and a few other things. Growing up I never had a "passion" for engineering and no one that knows me would consider me a "highly technical" person. But I really enjoy my job. And hey, it pays a livable wage with opportunities for advancement, so that's nice too. But I think I'd have been just as happy being a nurse or accountant or any of the other things I'd considered. So I think people should try to make themselves as employable as possible. And not necessarily "chase money" but I think most well-paying "careers" are extremely flexible. And that we as humans are even more flexible, and that we can honestly be happy doing a lot of different things.
Where the tides of fortune take us, no man can know.

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Re: So ambitious w/ money but so risk-averse

Post by edge » Sat Jan 06, 2018 9:55 pm

I see greed, not ambition.

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Sandtrap
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Re: So ambitious w/ money but so risk-averse

Post by Sandtrap » Sun Jan 07, 2018 11:51 am

edge wrote:
Sat Jan 06, 2018 9:55 pm
I see greed, not ambition.
Is there a sense of "entitlement" with greed?
vs
A sense of "merit" with ambition?

j :D

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