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Post by bounce on Sept 27, 2007 10:28:52 GMT -8
This is an explanation of how I have taught my kids about money through the subject of "allowance."
As adults, you should be able to directly apply these lessons to your lives as well.
It would do you all a world of good to take these lessons to heart.
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Allowance
(Or more appropriately, what an allowance isn’t)
One of the first and most important lessons my wife and I want our children to understand is what an allowance is NOT. An allowance is not received for doing homework, cleaning their room, brushing their teeth or doing things normally expected around the house (helping with dinner, dishes or the trash). Things of that type are expected as a part of daily life in our home and do not merit a monetary reward.
There are two Kinds of Money
(All money isn’t the same)
Accountants say that there are three kinds of income (earned, passive and portfolio). In an effort to simplify this for the kids we have narrowed it down to just two: First Money and Second Money, and we treat them very differently.
First Money (earned income) is money that we work for. It is treated as something special because we have to expend effort to earn it. This is money exclusively devoted to purchasing investments.
Second Money (portfolio and passive income) is money that our money makes for us, or return on investment. It’s better to reinvest our second money, but if we are going to spend, we only spend second money.
The Purpose of Money
(Money has only one purpose)
Another primary idea we have tried to instill in our kids is: The purpose of money is to make more money, period. We continually remind our kids of the idea that we invest first money and, if we are going to spend, we only spend second money. It’s important that our kids learn a good work ethic, but it’s just as important for them to learn how to make their money work for them. This implies the concept of delayed gratification which I will get to later.
Jesyca’s First Business
(Egg sales)
One day Jesyca (age 9) became interested in money and asked what she could do to earn some. A RED FLAG went up in my head as I saw my daughter already being sucked into the idea that she should work for money. Nothing could be farther from the truth. So, rather than pay Jesyca for a one-time task, we gave her the responsibility of caring for our hens and began paying her for the eggs we eat ($1 per dozen). Furthermore, it is her responsibility to keep track of how many eggs we eat. If she doesn’t go to the trouble of accounting for her eggs, she doesn’t get paid for them. The money earned in her egg business is considered first money.
How She Turns First Money Into Second Money
(Investment income)
We created an imaginary account that Jesyca can invest in. If she allows us to borrow her first money we pay her interest for the use of that money (thereby generating second money). The interest rate we pay is astronomical (approximately 10% per month) since, at this early stage, the important thing is for her to see positive results from her investment.
If the balance in her account is between $1 and $19, she gets $1 per month interest. If her balance is $20 - $29, she gets $2 interest and so on. The 10s digit determines how much monthly interest she receives. This greatly simplifies the concept of interest income and she can calculate it herself. She is also expected to keep track of this account on a second ledger sheet kept on our refrigerator. The intent of posting the ledger on the refrigerator is to keep these numbers in front of her every day. We do not remind her to update it and we do our best to pretend not to keep track of it. She is very conscientious about reminding US when a new month rolls around and it’s time to update her account.
Putting it Together. It’s their decision.
(Making mistakes is OK)
Once Jesyca has acquired money (either first or second) she is faced with a choice. Does she spend it or does she invest (reinvest) it? The choice is hers to make and it’s important that she be allowed to make the wrong decision. I remind her of the purpose of money, but she knows that if she wants to spend it all she is free to do that. Once she makes a mistake though, I explain to her what she could have had if she had done things differently (correctly).
Example: Once, Jesyca wanted a Beanie Baby. She worked hard (above and beyond household chores) and earned a few dollars. At the toy store she shopped and found a “two for one sale”. Immediately recognizing a great deal she bought some Beanie Babies using her first money.
Later, I explained to her that the Beanie Babies actually cost her a little bit more than she thought. Had she invested her newly acquired first money she would have had over $50 in her account that month. She would have gotten $5 interest instead of $4 and, as a result of doing things a little bit differently (waiting a week or so and spending her second money instead), she could have had her Beanie Babies and more money too.
She immediately recognized the situation and announced to me that she had made a mistake. I told her that mistakes are a good thing as long as we learn from them.
Once she saw the ripple effect of her actions, the concept of delayed gratification began to sink in and she said, “Daddy, I am NEVER going to spend my first money again! From now on, I will only spend my second money.” I explained that the smart thing to do is to buy investments first and luxuries second (hence first money and second money).
The whole process of earn, shop and spend is exactly the line of thinking we want her to get away from. Instead, the habit pattern we are trying to instill is earn and invest. Then, if there’s something she wants to buy, she plans ahead and budgets second money to buy it. This habit pattern instills fiscal responsibility, goal setting and forces her to prioritize.
The Result
Many kids who get an allowance seem to develop an entitlement mentality. They acquire the idea that they are entitled to it and rely on it to fund their expenses. Further, their expenses rise to whatever level their allowance reaches (and beyond). They quickly develop the habit of turning cash into trash.
Through this system, Jesyca is becoming empowered to create her own money. She is being introduced to business concepts like accounting, investment, interest, the power of compounding interest, earned income, passive income, inventory, billing, delayed gratification, the time value of money, prioritizing, goal setting, personal responsibility and fiscal responsibility (without all the complicated jargon normally associated with these concepts). She has never approached us for an allowance. Hopefully, she won’t see the need for one because she will have learned to create her own money instead.
So, the answer to the title (How We Handle the Subject of Allowance) is: We don’t, and we don’t think we’ll have to.
Q & A
Q: What happens if she avoids spending her money and the account gets huge?
A: If it gets as high as $500 ($50 a month interest) or so, it will be time to introduce her to more advanced concepts and more realistic return rates. For now, it’s important just to let these basic ideas sink in.
Q: When did we decide to start teaching our kids about money?
A: We waited until Jesyca showed interest and asked about it. Caysi (age 7) doesn’t yet understand money and we haven’t pushed the subject on her. When she’s ready, she will start asking about it.
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Post by bounce on Sept 27, 2007 10:47:12 GMT -8
I wrote the above post several years ago for a group of home-schoolers in my area who were concerned about the subject of allowance.
This post is an update.
The hens are now gone and the kids are much older (14 - 16).
They now own all the office equipment for our businesses.
They used their money to buy our computers, telephones and our copier/scanner and fax machines.
My business rents this equipment from them and they bill us monthly for the rent.
They have started a secondary business of "Pay-Day" loans to a local business.
My kids loan money on a "pay day" loan style system to the employees of a local veterinary hospital. They make loans in $100 increments and make $10 interest for two weeks.
The local laws prohibit charging more than $15.50 per hundred for two weeks, so my kids' offer a HUGE discount from what it otherwise available.
The big lesson in this isn't how to become a "loan shark."
The reason I allowed my kids to get into this is to show them, in terms they cannot possibly mistake, just how foolish adults can be with their money.
They can see adults digging themselves into a financial hole. They can see adults working their asses off and robbing Peter to pay Paul.
They are learning WHAT NOT TO DO - EVER!
The first lesson is that it is a SIN to work for money.
The second lesson is that it is an even BIGGER SIN to pay interest for consumer purchases.
The people who are borrowing their money are doing much more than paying my kids interest. They're teaching my kids some lessons I might never have been able to convey.
The people who work for money and then borrow money to make their rent payment will NEVER BREAK FREE of that servitude, EVER!
They are disrespecting money and as a result they are ruining their lives. Moreover, they don't even know what the hell they're doing. As far as they're concerned, they just don't make enough.
When you live like that, NO AMOUNT OF MONEY WILL EVER BE ENOUGH.
I guess this business boils down to this: If you want your kids to stay off drugs, have them work in a detox center for a few weeks.
The lesson will become abundantly clear.
I'm not doing this so my kids will learn to be loan sharks. However, they will damn sure know one when they see one in the future.
One other thing:
My kids have a regular income now of about $600/month. They have horses and this income pays for it all.
Can you see the difference between doing things like this vs. me giving them an "allowance" and paying for their horses too?
That would be foolish, yet that's what most parents do.
They pay for the kids' toys and give them an allowance so they can turn even MORE cash into trash.
I urge you to take this system to heart and try it on your own kids.
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Post by FightingFalcon on Sept 28, 2007 5:20:14 GMT -8
But Bounce, couldn't you expand that argument even further? By arguing that if your kids invested all of their second money as well, that they could have even made more money? Technically, any money spent on anything other than investment is a "waste". True, you made your second money through investment return but by spending it rather than re-investing it, technically you are "wasting" it.
Your posts remind me a lot of Suze Ormon (sp). While its true that people should make their money work for them and only spend money that they get as a return on an investment, its not always that easy. People need cars, homes, furniture, etc. You can't just sit around and wait for your investments to mature when you have large immediate expenses to take care of.
Your method of making money (e.g. using other people's money and investing it) is obviously the best way to go in terms of making money. Its also, IMHO, the least practical for most of America. I'm still a much bigger fan of things like 401ks, retirement plans, investing early/often, etc. Yes, that means I'll be working until I'm 50 or so. It also means I'll never be fabulously wealthy. But its simply not practical to expect people to put off all types of luxuries until their investments kick in. You have to enjoy life at some point too.
Just my two cents.
BTW, I have to add that pay-day loan schemes are incredibly evil. God help me if I ever find out that my Airmen are using one of them.
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Post by dustdevil28 on Sept 28, 2007 5:58:56 GMT -8
But Bounce, couldn't you expand that argument even further? By arguing that if your kids invested all of their second money as well, that they could have even made more money? Technically, any money spent on anything other than investment is a "waste". True, you made your second money through investment return but by spending it rather than re-investing it, technically you are "wasting" it. Your posts remind me a lot of Suze Ormon (sp). While its true that people should make their money work for them and only spend money that they get as a return on an investment, its not always that easy. People need cars, homes, furniture, etc. You can't just sit around and wait for your investments to mature when you have large immediate expenses to take care of. Your method of making money (e.g. using other people's money and investing it) is obviously the best way to go in terms of making money. Its also, IMHO, the least practical for most of America. I'm still a much bigger fan of things like 401ks, retirement plans, investing early/often, etc. Yes, that means I'll be working until I'm 50 or so. It also means I'll never be fabulously wealthy. But its simply not practical to expect people to put off all types of luxuries until their investments kick in. You have to enjoy life at some point too. Just my two cents. BTW, I have to add that pay-day loan schemes are incredibly evil. God help me if I ever find out that my Airmen are using one of them. Pay day loans. I have to wonder why anyone would fall for that, but every time I go out I still see them around, and there even everywhere in Nevada, but we have gambling there.  |
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Post by bounce on Sept 28, 2007 8:56:05 GMT -8
But Bounce, couldn't you expand that argument even further? By arguing that if your kids invested all of their second money as well, that they could have even made more money? Technically, any money spent on anything other than investment is a "waste". True, you made your second money through investment return but by spending it rather than re-investing it, technically you are "wasting" it. Your posts remind me a lot of Suze Ormon (sp). While its true that people should make their money work for them and only spend money that they get as a return on an investment, its not always that easy. People need cars, homes, furniture, etc. You can't just sit around and wait for your investments to mature when you have large immediate expenses to take care of. Your method of making money (e.g. using other people's money and investing it) is obviously the best way to go in terms of making money. Its also, IMHO, the least practical for most of America. I'm still a much bigger fan of things like 401ks, retirement plans, investing early/often, etc. Yes, that means I'll be working until I'm 50 or so. It also means I'll never be fabulously wealthy. But its simply not practical to expect people to put off all types of luxuries until their investments kick in. You have to enjoy life at some point too. Just my two cents. BTW, I have to add that pay-day loan schemes are incredibly evil. God help me if I ever find out that my Airmen are using one of them. My point is that you should SLOWLY BUT SURELY transition to the first money - second money plan. If you grew up in the middle class - learning the lessons the middle class teaches their kids about money - it will take a while to transition. Kids learn about money from their parents (who work for money) and their teachers (who work for money) and their friends (who get allowances and piss money away as fast as they can get their hands on it). The transition to "smart money" will take a while. It will be much easier for my kids because they are starting off on the right foot. The point is that the money YOU WORK FOR should be treated differently than the money YOUR MONEY WORKS FOR. A dollar isn't just a dollar. How that dollar came into your possession MEANS EVERYTHING. Your earned income should be put to work to make more money. When you SPEND money, you should spend ONLY return on those earned dollars. It's a process that takes some time, diligence and effort. It takes determination and will power. It takes both learning and unlearning. Now, as to my rule, "The only purpose of money is to make more money." Yes, it's always better to reinvest second money, but not when you're spending FIRST MONEY. You need to make the transition in both your mind and your life. Your mental habit patterns need to be rewired. The thoughts you tell yourself all day long need to change. It takes time. You've been fed a line of total horse-shit for your whole life. Changing that isn't easy. Now, as to 401Ks and IRAs and stuff like that. I think they are the STUPIDEST investment you could make. It might be better than spending the money, but those things are not an answer. I should write a full essay on this, but I will explain my attitude here. When advisers tell you to put money into an IRA, they give you a rationalization. They say, you can defer taxes. The taxes on the gains are also deferred. Big fucking whoop! Those reasons are invalid. First, your taxes aren't that high. So what if you pay 15% (at your current income level your overall taxes are probably lower than that)? SO WHAT? When you can leverage that money and get reliable and safe returns of 10% - 100% PER YEAR, the taxes are inconsequential. Second, when you invest in RE, the gains can be MORE than just tax free. You can get a return of your W-2 taxes paid for making some investments! That means you can get some of the taxes you paid on that money BACK! Third, the issue is control. When you put money into an IRA, you lose control. You are buying pieces of companies that other people are in charge of. You are investing in a "buy-hold and pray" deal that has been prepackaged for your consumption. Fourth, is another issue of "control." Except for a few exceptions, you cannot touch that money (or the returns on it) for a very long time. Then, even if you don't need it (when you're 70.5) THEY FORCE YOU TO TAKE IT OUT. If you were to start your own retirement account (with after tax money) you could generate ADDITIONAL tax free cash-flow NOW, your investment will STILL GROW TAX-FREE, the money is usable at any time you choose and you keep control. IRAs and 401Ks are only desirable to the extent the company matches the deduction. Beyond that, I wouldn't do it. THIS STATEMENT PRESUPPOSES that you invest intelligently. If you don't give a fuck that you won't have control of your money, if you don't give a fuck that you are in a system where you will sell the best years of your life to some employer that will wad you up and toss you out the instant you're not productive enough, if all this "smart money" talk is just too much trouble and if all you want is to go to work and not worry about the future, then the 401K and the IRA are probably the best deal for you. As to the pay-day loans. I don't necessarily disagree with you. We're not doing it for the money so much as we are for the lessons. My kids are watching, first hand, WHAT THEY ARE TO NEVER DO. This experience is very valuable for them and the people who borrow the money would just go down the street to the pay-day loan place anyway. We may as well take advantage of the opportunity to learn the lessons. |
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Post by bounce on Sept 28, 2007 9:19:54 GMT -8
But Bounce, couldn't you expand that argument even further? By arguing that if your kids invested all of their second money as well, that they could have even made more money? Technically, any money spent on anything other than investment is a "waste". True, you made your second money through investment return but by spending it rather than re-investing it, technically you are "wasting" it. About "wasting" money... I am showing my kids how to build a system that supports them and their needs. While their friends are getting a $20/week allowance, my kids have a system that is already earning enough to support their horses! Horses aren't a waste. I don't personally like horses, but we have given them another area of interest besides drugs and MTV. The horses have taught my kids a shit load about reproduction (my kids have been watching horses fuck since they were infants), personal responsibility, attention to detail and lots of stuff like that. Not only that, but they have to continue to build a system that will support them. I see that as anything but a "waste." Suze Ormon (and Bob Brinker) is the Queen of Level 4 investing. I am a Level 5 investor. I know you don't know the definitions of those terms yet, but I will post them. They were invented by a guy named John Burley and they're amazingly accurate. It is absolutely practical! You are looking at this through limiting and incorrect ideas. You need to reread my signature line. Then, read it again, and again and again. |
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Post by FightingFalcon on Sept 29, 2007 4:49:33 GMT -8
I'm just curious Bounce....did you make most of your money in real estate?
If so, don't you think that that gravy train has come to a halt?
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Post by bounce on Sept 29, 2007 5:00:41 GMT -8
I'm just curious Bounce....did you make most of your money in real estate? If so, don't you think that that gravy train has come to a halt? The answer to question number one is "Yes." The answer to question number two is "Absolutely not." You cannot listen to the financial "experts" (who are still busy working their asses off every single day) and hope to know anything. I do not approach real estate like a "stereotypical" investor. I create deals that cash-flow out of non-producing properties. I do things EXACTLY BACKWARD from the "standard advice" you might get from a realtor. Realtors and other RE experts are morons. Shitty RE markets are the very BEST! I can't wait for this one to collapse even MORE. I can take an empty building (which I can steal - especially in a shit market) and put a recession-proof business in there that will thrive in any economy. Ever heard of a recession proof business? There are lots of them. Once that business is paying a secure and productive rent, I can either keep it for the cash-flow (which I do about half the time) or I can sell it to an investor for the capital gain. A shitty real estate market HELPS ME make more money faster. |
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Post by bounce on Sept 29, 2007 5:52:10 GMT -8
Falcon, I have to respond to your statement that it isn't "practical" to wait until second money kicks in.
You are exhibiting the EXACT MENTALITY that FUCKS PEOPLE.
You work for money, pay tax on it and then you buy shit that will go down in value and over time becomes worthless.
With that attitude, you will work for the rest of your life and in the end have nothing but the need for another job.
If instead, you changed your attitude and purposefully created a little more passive cash-flow each and every single GD month, your life could be filled with financial abundance.
You should have the #1 goal of creating MORE passive cash-flow each and every single month. PERIOD!
Instead, what you will probably do (which is what all your buds are probably doing) is get deeper into debt each month. Every single month that goes by, you will have MORE and MORE cash flowing OUT and AWAY from you as you collect those toys and luxuries that you just cannot live without. You're willing to pay other people for the use of their money because you can "handle the payment."
When you get right down to it, that's not all together different from the pay-day loan mentality that you supposedly think is so bad. You are STILL paying for the use of other peoples' money.
I want to be on THEIR SIDE of that deal. You should too.
You will look to the next promotion and the next big pay raise to cover the extra expenses. This mentality will continue the rest of your life unless you purposefully decide to BREAK THE MENTAL CHAIN.
It's all about the direction of the cash-flow. Is it flowing IN at an ever increasing rate, or is it flowing OUT at ever increasing rates?
Most people choose to live for the moment and start racking up wonderful things on that new credit card.
I fully expect that's what you'll do.
After all, you listen to and learn from the "experts" and NOT the financial lessons my 15 year-old daughter could teach you.
You are probably committing the two GREATEST FINANCIAL SINS there are:
1) You work for money and you don't have money working for you and,
2) You pay OTHER PEOPLE for the use of their money.
How many people do you know that have an outstanding credit card balance? How is that different from a pay-day loan?
Being on the receiving end of that deal is fine. Being on the paying end is a sin against your financial future.
You will exist in a world of limited money and financial mediocrity until you rewire your brain and learn to think differently.
You have to learn sit on the OTHER SIDE of the table. To do that, you have to think differently.
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Post by FightingFalcon on Sept 30, 2007 2:51:03 GMT -8
Lemme address your second post first, Bounce.
You are partially right about me but partially wrong too. I'd say 10 out of the 12 months of the year I do not carry over credit card debt. The only times that I carry over debt are when I can't avoid it (furniture purchases, vacations, etc). But I put those purchases on my USAA credit card that has a 3% interest rate. I absolutely hate the idea of carrying over credit card debt. The only reason I even use credit cards to begin with are the rewards and because it lets me build my credit history. But I hate carrying over debt and I avoid it most of the time. If I do carry over debt, you better believe that it'll be paid off next month. I've never carried over for two months. That's just crazy.
You're also wrong that the more money I make, the more money I spend. I'm contributing more to my savings now than I ever have before. My expenses are slightly higher now that I have a legitimate job and a house but I haven't gone on crazy spending sprees. I'm way too responsible with my money to be like that. I have tons of friends with maxed out credit cards but I'll never be there. That's just not who I am. I absolutely hate the idea of flushing money down the toilet for absolutely no reason. I don't make purchases (except cars/houses) that I can't cover immediately.
Yes, I'll always be in the middle class. But I'm fine with that. I don't mind "working" for the rest of my life because I love my job. I love the USAF and I've always planned on being a teacher after that. I'm the type of person that would get incredibly bored if I retired at 40 and did nothing for the rest of my life. People retire so that they can do what they love. Well, I'm doing what I love right now.
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Post by FightingFalcon on Sept 30, 2007 2:53:27 GMT -8
I do have to say though Bounce, I respect you and what you do. You remind me a lot of Ellis Wyatt, a character from Atlas Shrugged. He took failing industries that no one said could work and turned them into profitable empires. I'm glad there are people like you in this country because its what makes America great. You rarely find that entrepreneurial spirit anywhere else.
We might have our differences but I respect anyone who exhibits a drive like that.
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Post by bounce on Sept 30, 2007 3:07:54 GMT -8
Lemme address your second post first, Bounce. You are partially right about me but partially wrong too. I'd say 10 out of the 12 months of the year I do not carry over credit card debt. The only times that I carry over debt are when I can't avoid it (furniture purchases, vacations, etc). But I put those purchases on my USAA credit card that has a 3% interest rate. I absolutely hate the idea of carrying over credit card debt. The only reason I even use credit cards to begin with are the rewards and because it lets me build my credit history. But I hate carrying over debt and I avoid it most of the time. If I do carry over debt, you better believe that it'll be paid off next month. I've never carried over for two months. That's just crazy. You're also wrong that the more money I make, the more money I spend. I'm contributing more to my savings now than I ever have before. My expenses are slightly higher now that I have a legitimate job and a house but I haven't gone on crazy spending sprees. I'm way too responsible with my money to be like that. I have tons of friends with maxed out credit cards but I'll never be there. That's just not who I am. I absolutely hate the idea of flushing money down the toilet for absolutely no reason. I don't make purchases (except cars/houses) that I can't cover immediately. Yes, I'll always be in the middle class. But I'm fine with that. I don't mind "working" for the rest of my life because I love my job. I love the USAF and I've always planned on being a teacher after that. I'm the type of person that would get incredibly bored if I retired at 40 and did nothing for the rest of my life. People retire so that they can do what they love. Well, I'm doing what I love right now. I understand I am talking to someone with a VERY limited historical perspective, but I am STILL going to TRY. First of all, SAVERS ARE LOSERS. You need to read the Seven Levels of Investors post. Your savings are better than consumer debt, but they ARE NOT a workable financial plan. Secondly, if you think you can retire at age 40 from the military, think again. I know of NOBODY who "retired" from the military who didn't immediately go out and find another job (and I know a shit-load of military retirees). Military retirement is just enough to keep you out of the soup kitchen, but that's about it. Third, you say you LOVE YOUR JOB. That's inexperience talking. I suppose you know for a fact you will be able to do that job for the rest of your life? How could you possibly entertain an idea as bogus as that? You are young and have no earthly idea of what you're talking about. I understand that. Just wait for your first RIF or downsizing. The lessons I am TRYING to get through your skull will become abundantly clear. HOWEVER, if you are happy to remain in a situation where you have to get up every GD day and BUST YOUR ASS just so you can stay in the middle class, who am I to try to talk you out of it. Just realize that you are making a CONSCIOUS DECISION. You are saying to yourself that it's OK to prostitute yourself because at this point you just love the fucking. At some point, I promise you, you will stop loving the fucking and you will instead be taking it up the ass for the money (because you have debt to pay off). Moreover, you are speaking from the viewpoint of a guy without a wife and kids. At some point the bogus ideas you choose to retain in your head will affect OTHER PEOPLE. It won't be just you fucking YOU. You will be condemning your kids to financial mediocrity if you TEACH THEM the lessons YOU KNOW about money. |
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Post by bounce on Sept 30, 2007 3:12:35 GMT -8
I do have to say though Bounce, I respect you and what you do. You remind me a lot of Ellis Wyatt, a character from Atlas Shrugged. He took failing industries that no one said could work and turned them into profitable empires. I'm glad there are people like you in this country because its what makes America great. You rarely find that entrepreneurial spirit anywhere else. We might have our differences but I respect anyone who exhibits a drive like that. I appreciate that. Believe it or not, it doesn't take any more "drive" than it will take you to make Major. With the same effort and energy you will expend to make Major, I dug myself out from under a mountain of debt and became a millionaire. Then, with about that same energy AGAIN, I became a multi-millionaire. You have more than enough energy to become financially independent. You, and virtually everyone else, CHOOSE A PATH that leads you in a different direction. |
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Post by FightingFalcon on Sept 30, 2007 3:27:25 GMT -8
This conversation reminds me of a scene from Office Space. The three main characters are talking about what they would do if they won a million dollars because whatever you answered, you were supposed to do that for the rest of your life.
You know what I would do? Continue my historical research, go on archaeological digs, find out everything I can about pagan mythology (my current concentration) and publish as many books as possible on the links between paganism and the Abrahamic religions. O and I would travel the world in the course of this study.
The funny thing is that I'm doing all of this right now. And I don't need a million dollars to do it. My life will not be defined by how much money I have or how I make it. It's going to be defined by what contributions I make to the field of history and what impact I can have on how the world looks at the Abrahamic religions. I want a somewhat comfortable life and I'm pretty much guaranteed that. I don't want a crazy amount of luxuries either - I'd like to do a lot of traveling (which I'm taking care of now) and a very nice car and motorcycle. Those are my passions in life.
I'll probably retire from the AF at 42 (my 20 year mark) but I would never think of stopping work. I would go to my teaching career and pursue my other passion. The AF is one and teaching is the other. But there will never come a time where I sit down and just rest on my laurels. I'll probably work until the day that I die. But I wouldn't want it any other way. I'll probably end up dying while publishing one of the many books that I hope to write. I couldn't imagine dying while doing absolutely nothing with my life. Ayn Rand put it best when she said through her character that the most worthless human being is the man without a purpose. A man with no purpose is more dead than a man 6 feet under. At least the man 6 feet under has an excuse.
I realize that. I have accepted the fact that I'll never be as rich as my father or as rich as I could be. I'm totally fine with that.
My family legacy is the last thing on my mind right now. Too many of my 22 year old friends are married and it freaks me out....
I do appreciate the concern tho. And maybe one day I'll come around to your line of thinking. I just wouldn't hold my breath.
edit: And as for the RIF, I should be fine. I'm going to be one of a very, very few 2d Lts with ~10 TDYs. My job will send me all over Europe, Africa and the Middle East. Not to mention that my career field (21R1) is severely undermanned. I'll meet the board in two years but I'm not sweating it at all.
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Post by bounce on Sept 30, 2007 3:32:21 GMT -8
You made a comment about dying while doing nothing.
What on earth makes you think that having all the time in the world and the money to do it means that you will do nothing?
Some things you say are just not adding up.
You are saying that it's ok to live a life of false and limiting ideas because....
It's the "because" part that I am not following.
Rationalizing failure is what losers do.
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