There is More than One Way to Make Money
When I graduated from Minnesota State University, Mankato in 2011, I had already regretted my decision to choose Exercise Science as my major. In fact, I was regretting it so much that I had completely withdrawn myself from any career prospects whatsoever. I had planned on working at my job at the time, overnights at a group home, and I was going to live at home with my parents forever. Sure, I was going to go pro in StarCraft (despite my StarCraft disability of not being South Korean), and maybe get a promotion at my job, but I was never going to use my degree.
It wasn’t that I had a bad degree, or a bad education, it was an issue with society. People don’t value their health very much in our society for some reason, which makes selling my skills and knowledge in the area of exercise and fitness a difficult sell. It shouldn’t be hard, I thought to myself while watching TV, to sell people on the idea of being healthy. They should already understand the need to be healthy. There really weren’t a lot of job postings for my career either. And of course it wasn’t that I didn’t understand how to apply for jobs or search for them, my career as an exercise scientist was over.
(Of course, the year 2011 wasn’t the best for searching for new jobs. 2008-2009 was about one of the hardest times to find a new job due to the state of the economy. It wasn’t fully blown when I was looking, but companies and people weren’t really thinking about supplemental things like fitness. So while I was definitely lacking in knowledge about looking for a new job, I don’t think the economy was exactly helping me at all.)
The issue with this kind of thinking, aside from thinking that society needed to adjust it’s priorities, was that I needed to think of what I could do myself to change my situation. I shouldn’t have thought about how I was going to get someone to pay me money to train them in fitness, I should have instead been thinking about how I can share my knowledge to add value to people’s lives in the areas of health and fitness. When I was younger, I didn’t have the entrepreneurial mindset at all, but now that I have a more open mind about going into business for yourself, I am kicking myself for not starting a fitness blog earlier.
Hourly Wages are the WORST Way to Make Money
Regardless of what your skill set is right now, it’s valuable to people. Maybe not a lot of people, but if you can use the internet to reach more users who are interested in what you have to offer, you can increase your reach and use your skills to create something of your own. The issue that 2011 me had was that he was only able to conceive of making money in one way: getting paid by the hour for his skills. But that is only the easiest, simplest, least imaginative way to make money.
Think about the wealthiest people you have ever heard of. If you’re reading the news lately, it’s Jeff Bezos of Amazon. JB (we’re close so he’s cool with this nickname) doesn’t make his money hourly, he makes his money 24/7, 365. Holidays, nights, weekends, anniversary’s, or birthday’s don’t make any difference to him. He’s not required to put in work to earn his wage. Or if you’re renting, think about your landlord. They don’t make money from you by the hour. They make it passively. Without any effort required on their part, aside from maintenance of your unit and the effort required to find/retain tenants.
The problem that I had was that I couldn’t conceive of such a way to make money, but that needs to change if I am ever going to get off the hamster wheel.
As you know, if you read from the beginning of the blog, at the time of this post, my passive income is essentially non-existent. This blog isn’t about having been a finance genius from birth. This blog is about going from being a finance fool to a tried and true Finance Feller. This blog is about how you go from fool to feller. So while I am not exactly qualified to talk about being semi-retired and collecting investment returns, I am qualified enough, and I have learned and studied enough, to know that hourly wages won’t get us to a place where we feel financially secure.
This post is about changing your financial mindset and the first step is realizing that there are so many more choices than just an hourly wage. In fact, in our society (AMERICA!) (just kidding, only the United States of America, specifically), the best earners aren’t people working hourly; the best earners are those who are getting equity built by other people. While it’s totally cool to work a job you enjoy, for a company you enjoy, you should consider other possible sources of income for yourself.
The goal of this site is to bring you along for the ride, to lay out the path, of going from fool to feller. I believe the first step on that path is changing the way we think. Improving ourselves and investing in ourselves is the most important part of our Fool to Feller journey. That being said, I hope that I can start talking about investments, rental property, starting a business, and becoming captain of your own finance ship soon. Right now, I can only tell you about my current mentality and the ways that I am trying to change my thought process. Hopefully this will prove beneficial in the future!