Speaking of college, jlcollinsnh includes this gem:
"Moreover, one of the more unfortunate results of spiraling college costs and debt is the way it has warped the very concept of higher education. Rather than the pursuit of learning and culture, it has become the pursuit of job training in an effort to secure employment that will justify the astounding cost and debt incurred. "Even successfully applied, this shackles young people to jobs long after the appeal has faded. Youth should be spent exploring—building and expanding one’s horizons—not grinding away in chains." http://jlcollinsnh.com/2015/03/26/stocks-part-xxviii-debt-the-unacceptable-burden/
And also this, from the very popular James Altucher: http://www.jamesaltucher.com/2011/01/8-alternatives-to-college/
When one or two people buck the trend, they may be visionaries--or they may be saying something edgy for the sake of saying something edgy. But when a lot of successful people are saying the same thing, there's probably something to it!
We all know that physicians must go through many years of expensive schooling, as well as grueling residencies and tough exams, before being certified to practice medicine. And, once they finish this long ordeal, doctors finally begin to make generous salaries upwards of $200,000 or more every year. But, considering the onerous burden of student loans and the relatively short careers (thus impairing their lifetime earning power), are these salaries actually enough for doctors to make ends meet?
This ties into the fact that there's an alarming lack of financial literacy in this country! If you don't watch your business and make a plan for what to do with your cash, you'll look up one day and wonder where it all went! However, as the #3 overall pick in the 2012 NFL draft, he signed a rookie contract for over $20 million guaranteed, plus a $13.3 million signing bonus. So the lost $1.6 million shouldn't destroy his finances, as long as he didn't blow through the other $13 million that should be left after taxes.
A reminder that if you want to avoid being broke, you have to keep up the right mindset--whether you're an NFL player or a grad student!
Rice was never one of the most athletically gifted receivers to play the game. There have been plenty of talented receivers who were stronger, faster, and could jump higher--but nobody could outwork Jerry Rice. That is what made Jerry Rice the greatest receiver ever to play the game of football,
And it's that kind of work ethic and dedication to improvement that can make a mediocre talent into a great achiever in any field. I've written about grit before, and it bears repeating: grit, not talent, is the key to success!
Focus on building wealth slowly. That's what I (and many other personal finance bloggers!) have been saying for a long time :)
Don't settle for a job or a salary that's less than you want. Keep your mind open to other options!
Phroogal is doing their 10,000-mile Road to Financial Wellness again this year [at a more leisurely pace, this time!]. A road trip winding across the United States is always a big undertaking; kudos to them for doing it to raise awareness and get the conversation going about money!
On the topic of things that will get you angry, the Wounded Warrior Project [a charity meant to help wounded war veterans] apparently spent a lot of money wastefully. See this New York Times article from January detailing allegations from a number of former employees, this CBS News article that first broke the story of the CEO and COO being fired, and this Daily Beast article regarding further allegations.
Infuriating stuff! But before throwing up your hands and refusing to donate to charity, there is an alternative! Consider instead doing a bit of research before writing that check...this article from Intentional Insights shows you how!
"Well, mainly it's just not having to worry about money." This is why we do what we do!
A friend of mine, who we'll call "Cailin" (not her real name) went shopping for a new car in 2014. I tried to talk her into a used car instead...didn't work. She knew what model she wanted, had done some research, and I think she made a solid choice. Now, to find a dealership...
The Simple Life: would you rather spend money on that thing that caught your eye...or not have to work? The choice is yours.
Along those same lines...Stepping away from the rat race can bring you true, lasting joy that a fancy purchase will never induce. The Frugalwoods have their heads on straight!
My grandmother kept a newspaper clipping that was similar to this powerful list on her refrigerator. It concluded that you can have the husk of everything for money, but not the kernel. This quote is attributed to Norwegian writer Arne Garborg.
Lance Cothern of Money Manifesto gets it! With quotable quotes like "Money will no longer dictate what you do with your time," and "The freedom of financial independence is the ultimate financial goal," this article is well worth your time!
Great advice from Will at Growing the Green, especially if you're in a dead-end job with lots of free time! Some hustle and smart time management can get you far!
A very astute parable from Mr. FIRE Station (FIRE is capitalized because it's an acronym for Financial Independence, Retire Early. But you already knew that.) The parable can also be found on jlcollinsnh, another good source for personal finance information! The parable is probably older than the hills and twice as moldy, but its relevance will never expire...
Income-based repayment plans are a good way to keep your monthly payments low when you're just beginning your career. This infographic clearly explains common student debt problems, and how income-based repayment plans can help.
As always, I want to bring you great content. However, between my classwork, research (this is critically important to make degree progress!), and preparing and refining lessons for the class I'm teaching, work on posts for the blog have been slow. But never fear--several projects are simmering on the burner, just waiting for me to crank up the heat!
I may be neck-deep in schoolwork, but there are many writers out there, and they bring plenty of important information! Here are a few articles that caught my attention recently:
Some say Mr. Money Mustache isn't really "retired" since he's still doing stuff that earns money. I think the point is that he could lie in bed for the next three decades without lifting a finger, and he'd still be in good financial shape. The concept of "retirement" being where old people sit around nursing homes and wait for death is...frankly, it's not worth working for. So if he's happy being busy, good for him! And if his carpentry and/or blogging makes him money...well, that kind of hustle is why the Mustachian family is in the financial position they're in!