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What’s up lock down people!
Been a while, for which I offer my humble apologies.
Unfortunately, we’ve had a personal setback relating to a close family member during this time, coupled with MiniFrugalSamurai being ever so cheeky – has meant many things have taken a backburner.
But not investing!
Been dabbling a bit here and there recently.
Mainly in the stock market and crypto space.
It’s going… OK to tell the truth.
But not as OK as a friend of mine who shall remain nameless.
Kevin, oh I mean, he-who-shall-not-be-named, was exposed recently as the owner of this:
W T F.
$600k+ gain overnight???
He denies it of course, but believe me, it’s Kevin. Damn it, I mean Mr X.
And it’s no fluke either. His track record of successes in stock-picking far outweigh the failures.
How do I know you ask?
Well, in our group, there’s more validation required than a parking meter – which suits yours truly just fine.
“Oh really? Buy BHP at open tomorrow? Got it”.
“Yes? Bitcoin to test resistance levels at 40k? Roger”.
“Hm? Ginseng works in relaxing muscles and improving blood flow to the genital area? Sure”.
I wouldn’t have posted this if it wasn’t for a conversation MrsFrugalSamurai relayed to me around the same time.
That her friend who works in the medical space… can’t even obtain a full time job.
30 years of formal schooling, 99.95 UAI (ATAR nowadays),1st class honours, doing a PhD – a frigging medical DOCTOR… scraping around on $60k a year?
I don’t believe it.
Apparently doing a PhD is a minimum entry for a senior medical role at a hospital these days.
The crux of it is that there are too many senior medical doctors (bigwigs) but not enough senior medical roles.
Which means practically no up’n’coming senior doctor has a full-time job.
Her friend… works 1.5 days a week for $60k a year.
Mind you that still works out to be an annualized $200k salary.
Unfortunately the remaining 3.5 work days for her at least, are non-existent – not that she doesn’t want to work more, she just can’t find any positions.
Like I said, if it wasn’t that both of these events occurred at the same time, I wouldn’t have given it a second thought.
Light bulb moment.
Ain’t this a picture perfect Rich Dad, Poor Dad scene?
Y’know the phrase Robert Kiyosaki made famous.
Describing his “two” fathers.
His biological father, the academic – who wanted him to pursue good grades, to get a good job and to work hard.
And his friend’s father – who taught him the importance of entrepreneurship and passive income.
Kev’s… sigh, OK I’ll just name him Voldemort, Voldemort’s astronomical stock gains really reminds me of Kiyosaki’s Rich Dad’s approach.
Instead of being brainwashed by our schools and government that finding a job and working hard for 40 years is the right way forward for financial security…
(Editor’s note: I’ve often said of the 40/40/40 rule – work hard for 40 hours a week for 40 years to retire on 40k per year).
Focus on building up that passive income, hone your investing knowledge, understand money and how it works (this blog is a great place to start).
Cos I mean sure, MrsFrugalSamurai’s friend might end up in the cushy $200k job, or $300k or more.
But when? 40’s? 50’s? 60’s? Never?
Would it be worth the wait?
Time is the most important asset in our lives – the sooner you step outside the matrix and understand there are ways to make money in your sleep, the sooner you are to being financially free.
Having a job is important too mind you, don’t think that I’m saying don’t have one – but it’s not the be all, end all in your financial life.
That’s just what I think anyway.
But gtg guys, it’s Monday tomorrow.
I gotta prep for work y’see.
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