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5 Myths About Career

The "one-size-fits-all"

The best type of work a person can have is not always a white-collar, office-based, management and technology-oriented.

The one-size-fits-all definition of success fails to take into account the unique gifts and talents people have and try to force them all into the same mold. Love growing in your gifts, and we'll all benefit when you do.

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5 Myths About Career

5 Myths About Career

https://medium.com/@ed.burdette/5-myths-about-career-86e7cc731a99

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Key Ideas

Choosing Your Career from a list

There is a predetermined list o choose your career from. 

The reality is that there are many options for work outside of the listed jobs. When we know ourselves well, we can follow an amazing path if we have the courage to pursue the work we're meant to do.

The "one-size-fits-all"

The best type of work a person can have is not always a white-collar, office-based, management and technology-oriented.

The one-size-fits-all definition of success fails to take into account the unique gifts and talents people have and try to force them all into the same mold. Love growing in your gifts, and we'll all benefit when you do.

Waiting for Financial Independence

Everything has an opportunity cost. To choose to invest time in one thing means deciding not to invest time in all the other things. It can mean missing the gains you could have been making in the direction you really wanted to go. Pursuing any calling comes with risk. When there's uncertainty, there will always be some risk.

Enjoying Work

The work that uses our natural gifts and aligns with our values will bring a sense of purpose and fulfillment.

Doing the work that you are called to do will give you meaning that will reach further than a paycheck.

The Perfect Retirement

The myth of a perfect retirement is based on the belief that our biggest need that drives us in life is an income. In reality:

  • We have a need for a purpose. Without it, our life becomes dull and meaningless.
  • Productive work is the 'glue' that helps hold our life together. Limitless leisure can lead us to become bored and unengaged.

SIMILAR ARTICLES & IDEAS:

Investing defined

Investing is about laying out cash or assets now, in the hope of more cash or assets returning to you tomorrow, or next year, or next decade.

Most of the time, this is best achieved th...

Productive assets explained

  • Productive assets are investments that internally throw off surplus money from some sort of activity. 
  • Each type of productive asset has its own pros and cons, unique quirks, legal traditions, tax rules, and other relevant details.
  • The three most common kinds of investments from productive assets are stocks, bonds, and real estate.

Investing in Stocks

  • It means investing in common stock, which is another way to describe business ownership or business equity.
  • When you own equity (the value of the shares issued by a company) in a business, you are entitled to a share of the profit or losses generated by that company's operating activity.
  • Equities are the most rewarding asset class for investors seeking to build wealth over time without using large amounts of leverage.

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Early Mistakes, Late Start & Future Hurdles.

Savings and investments should be part of a monthly budget even when young or just starting a career.

You cannot save enough if you are waiting until your late 30's before...

Myth vs. Reality in Retirement Planning

  • I’m not that old:  It’s not about NOW but saving for your old days when you can no longer work full time. 
  • I’ll wait for a lump sum is just an excuse to postpone planning or procrastinate.
  • Assumed Family/External Support: It’s better to be prepared for eventualities and have contingency funds in hand.
  • Financial Requirements Decrease: Medical costs increase with age. Inflation and other factors might also come into play.
  • I will not live that long or I won’t retire: People tend to live longer, but they will suffer from medical ailments.

Retirement Goals

To have a secure and financially independent retired life during your golden years with regular post retirement income, a corpus of savings/investments and a safe shelter or home.

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Real Estate Investment

Real Estate Investment

Real estate is filled with wins and losses. It is not a guaranteed profit game.

Before you make your first investment, consider if you are ready to risk facing something like a subprime m...

Beginner Investment

Although real estate can be intimidating for beginners, you can start your journey with a few easy methods.

  • Real Estate Investment Trusts: REITs enable you to buy shares in a company that works with income-producing real estate and earns high dividends.
  • House Hacking: It involves buying a property with multiple living units where you live in one and rent out the rest for income that can pay off the mortgage or pay for maintenance.
  • House Flipping: Buying cheap, underpriced homes, making renovations with as little as possible, and reselling it in the market for profit.

Risks Involved

  • The Unpredictability of The Market: There is never a guarantee that you will make a profit when you make a sale.
  • Credit Risk: When investing using leverage, the bank owns the property until you have paid the loan in full. If you are unable to pay your installments on time, you risk facing foreclosure.
  • Depreciation: Generally, real estate property will increase in value, but it is not guaranteed.
  • Negative Cash Flow: It is the result of a low occupancy rate due to bad tenants that cause destruction or irregular payments. Property with hidden structural problems could also cause problems.
  • Liquidity Risk: If you need cash quickly, you cannot rely on the money you invested in property. Real estate is a long-term investment.

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