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Many times I hear that people under 40, especially the unmarried under 30, choose to have long hours now and less spare time now but then later get more when they get married and get older and have a family.
However, I can see the drawback of that in the current environment. Taking long hours, at least for one job, will actually backfire long term, as your skill sets will become limited and companies now are demanding larger amounts of skill sets to get hired, especially the older you get. If you spent less time on one job and either tried a side job or a side hobby that had the potential for making money, you might come out ahead of the guy who took the longer, possibly better paid and with more benefits job, hour job that limited spare time outside the job.
Also, I happen to know that the longer you stay in the corporate, etc, world the harder it is to break free and be self-employed as family, etc, get in the way, and your future earning potential is basically locked at that point.
Do you think my planned strategy is a good one or a disastrous one?
Hobbies generally don't pay. Side jobs usually require more work for less pay than your full time job. There's nothing wrong with the corporate world, but you need to find a niche, maybe as an individual contributor in a technical area that will allow you to match your skills and interests with making a living.
I would get out of the corporate world all together if it were me UNLESS you have high up connections (which most of us don't) . Ive been trying for a year now and will keep trying. I don't see any long term viability in the private sector anymore. Unless you want to be a damn carnie or nomad and travel all over the place for the company. . Your skills/value don't matter anymore. Nor do the hours and hard work or loyalty you put in. Its a crapshoot. To me the only option is public sector and long term job security or finding a great business to own. The latter is difficult because most businesses fail within a year or two.
The private sector is a thing of the past. If you want security, retirement and good benefits you have to rely on the government today. Crazy right
A lot of the entrepreneurs I know started working on the side gig while being full-time employed. It's not something they planned, because the hobby was a labor of love. Many of them were able to turn the side gig into their full-time job after they built their network or were forced to do so after they lost the full-time job. What I gather from their stories is that if you do what you love, success will follow. It's cliche but true, from my experience.
Many people find jobs they love within a corporation, and make a good living doing it. The more they love it the better they are at it. Where they sometimes go wrong is leaving that job for more pay or higher position if they are not suited for it. As Dirty Harry said in the movies, a man has got to know his limitations.
Quote:
Originally Posted by treemoni
A lot of the entrepreneurs I know started working on the side gig while being full-time employed. It's not something they planned, because the hobby was a labor of love. Many of them were able to turn the side gig into their full-time job after they built their network or were forced to do so after they lost the full-time job. What I gather from their stories is that if you do what you love, success will follow. It's cliche but true, from my experience.
You can love your job in the private sector and find a "niche" doesn't mean it will last. You're better off finding a "niche" in the public sector. It lasts forever and you're set for retirement
Many people find jobs they love within a corporation, and make a good living doing it. The more they love it the better they are at it. Where they sometimes go wrong is leaving that job for more pay or higher position if they are not suited for it. As Dirty Harry said in the movies, a man has got to know his limitations.
Hmmm. Not sure I agree with the premise. Sometimes the job is right but the environment is crap. That is no reflection on the employee or his "limitations".
It depends a lot on the line of work you're in, I think, and the types of hobbies and side jobs you're talking about. In the area I work in, more time spent on work-related tasks does have a very direct skills-related pay-off, but in other jobs, your hard work may be noticed, but your skillset won't grow due to the nature of the job.
That said, I don't think most hobbies really end up netting you out with any significant income. They do for some people, obviously, but it usually works best for certain types of hobbies, and not well at all for others. Side jobs can be more practical in nature, I suppose, but it's no guarantee. Net net, not a terrible idea, but you have to weigh the pros and cons. If you're in a job that really does employ a limited skillset, then, yeah, might be worth diversifying.
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